Need Help with Pin Bar


  • 0
  • Bohica
  • 8-Jul-2011 at 7:43 PM
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  • Posts: 3
Just learned about the Pin Bar strategy and have a few questions. Does it work on all time frames or just a few? I trade more long term charts. Also, I have a chart below with what I think are two pin bars next to the green check marks. Could you critique my chart to make sure they are pin bars and let me know if I missed any.

Click image for original size
Pin Bar Chart
  • 1
  • MonkeyMeat
  • 8-Jul-2011 at 9:16 PM
  • Rep: 12.7k
  • Posts: 1,334
Pin Bars (Pinocchio Bars) are an easy google search away. So, I googled … and here's a blog with PDF links that describe the so-called Pinocchio Bars. This is the main link:

http://pinbartrading.blogspot.com/2010/01/pin-bar-trading-resources.html

Pin Bars Introduction (link from that blog page)
http://cdn.forexfactory.com/attachment.php?attachmentid=7554&d=1154048029

Pin Bars Advanced (link from same blog page)
http://cdn.forexfactory.com/attachment.php?attachmentid=7555&d=1154048041

Trusting you’re not shilling … so I be a filling … in the gaps where s&^%s missing … regarding your first posting ... otherwise this Monkey will be illing.

(hope the links work)

Also, any good/bad/otherwise feedback or experience with Jiminy Cricket's friend's trading might be useful perhaps.

Click image for original size
jiminy and pinnochio


MM
  • 3
  • apk781
  • 11-Jul-2011 at 1:42 PM
  • Rep: 4,392
  • Posts: 410
your first green mark is not a pin bar, since it did not open and close within the previous bar.

to my knowledge it works with most time frames, that said, it is definetely more effective the longer the time frame

if you look a tes today, the 9:30 am et bar was a nice example of a pin bar, and it worked out nicely too...i don't trade them per se, but pay attention to them if i come across one
  • 0
  • Bohica
  • 11-Jul-2011 at 6:42 PM
  • Rep: 0
  • Posts: 3
thank you very much for the information guys. It has been really helpful. I do see what you are talking about on the first check mark. Happy to hear they work well with longer time frames. Thanks again for the help.
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