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Pin Bar Setup Need Help

ITtrader

New member
Recently learned about the pin bar setup but I am still in need of help. Does it work on any timeframe? I trade pretty much just daily charts. Also, I have posted a chart below looking for pin bars. I have identified two that I think are actually pin bars they are next to the green check mark. If not please let me know also if I have missed any.

 

mtuppers

Member
no, as pin bar not always work.

Friday e/u at euro session, at 5 min show a pin bar, but... okay it work, but same as profit only 2 pips.
 

freddy

New member
i wouldn't trade pin bars on any timeframe under 1 hour. also, trade the pinbar as price exceeds the high/low of the pinbar by several pips. don't wait for a retrace on the pinbar or you will miss out on many good profits. if you have a pinbar at the end of a nice long rally or selloff it increases the odds of taking the trade based on the pinbar. i personally prefer trading pinbars on a 4 hour timeframe as daily pinbars typically have too large of a stoploss for me. :)
 

ITtrader

New member
@mtuppers, a profit is a profit good job.

Thank you for the advice on the Pin Bar setup. It has been most helpful. I am happy to hear that you don't use it on anything less than a 1 hour because I mostly use Daily charts and the lowest chart I use a 1 hour.

If you guys see any start to form send put an alert in here! :D
 

radicaltour

Moderator
VIP Member
this may cause more debate, but i think Engulfing patterns on H1 and above may be more effective than pin bars (hammers).
Pin bars appearing near a Support area won't necessarily hold since it could be in the process of absorbing "Demand" (buyers).....just to clear the way for a further break down.
Engulfing bars near a Support area to me gives a stronger clue that buyers are overwhelming sellers (ie. institution buying).
Just a thought. :)
 

mtuppers

Member
@mtuppers, a profit is a profit good job.

Thank you for the advice on the Pin Bar setup. It has been most helpful. I am happy to hear that you don't use it on anything less than a 1 hour because I mostly use Daily charts and the lowest chart I use a 1 hour.

If you guys see any start to form send put an alert in here! :D

sorry ITtrader, I trade with 1m chart, with 5m confirm. but also with other systems that I know. for me is when you know the time to do trade, that you can make super fast profit. like today in US session EU want up 40 plus pips.

and one of indicator I like is aroon. but since it is pin bar therefore, no use here.
 

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