Advanced trading lessons - page 28
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ok
ok the last two days have been hell at work over time and i had to run the show, and i have
been under ton's of pressure to take a job i really do not want. so that's where i have been
more over time tomorrow. so every one is wanting to know a strategy. lets Finnish price action first.
the first thing is
the first thing is any thing that looks like a similar signal in close vicinity on your chart
will always mean something different. to some degree.
so when you get two pin bars against the trend and you see the one next to you
failed. now another one shows up near by chances are that bar will be correct.
this goes to all psychological trimming into the market.
i look at most pin bars against the trend as trap for the trend to continue. unless that pin
bar is stopped out and momentum comes back after the stop out. in this case i see it as
a counter trend or sometimes a reversal.
with an extended
with an extended strong run an all of the sudden you get a with trend pin bar.
i see that as a with trend trap and a counter trend signal.
often at the break out point of a range
i do not really call a pin bar a pin bar. i call it a protection signal.
traders are thought that after a consolidation you get a break out.
at the break out level often they get pin bars. traders see this as false break of the range.
of fakey! this signal in sideways range during the break out causes traders to flood into
the market in the wrong direction. that pin bar fails to be a false break out 80% of the time.
so when this signal
so when this signal is against the trend after a small sideways range and hangs just below
the range this is a trap for all the false break out traders.
this signal psychologically keeps the with trend traders off the trade, and the false break out
traders in the wrong direction.
a two bar revers.
a pin bar is usually the same thing as a two bar revers. 90% of the time.
a pin bar on one freq. is usually a two bar reverse on a lower freq. at that same moment.
a two bar ravers is usually a pin bar on a higher freq. above you. if you are seeing a two bar
reverse on the 4 hr time frame, then that would be a pin bar on the 8 hr time frame.
most traders do not have the 8hr time frame.
if you get a two bar reverse on the one hour that's a pin bar on the two hour time frame.
that leads us to this statement. as far as trend lines and data transfer goes. physical strikes
etc. on mt4 platform traders are missing a lot of freq. that are relevant to tracking the market.
that does not hurt you except lost opportunities for some entries..
the most common
the most common counter trend signal, and most common reversal signal.
is one that no one mentions. it is a weak closing trending candle.
this signal is not really a pin bar , and it is close to being not a trending candle.
this signal you get a
lot of high two traps above, and some times no trap above it at all
traders have bright ideas
traders have bright ideas. one bright idea that is dangerous is this:
what if i place a pending order behind each candle that closes in the trend. as strategy
to enter the market.
what they find out is this. most trend do not take over the previous candles range on inner slops.
if they do that usually is a sign of larger counter trend coming soon.
this also tells you when trying to enter the market on inner slopes, as trader you most know
entry on range traps on inner slope swings are on low freq. compared to where the smooth
freq. candles are.
trendchanger
trend changer your team won! awesome
are pin bars
are pin bars ever a good signal, that does not get stopped out?
yes on inner slope swings that are extended runs, and they are also
good with fake channel shifts.