Pinocchio Bar (Pin Bar) Formation & System

[Kavima]

posting the screen shot of 60 min chart

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[vikrit]

yeah, resistance is strong one. so probability is high, volume is good. but enter only if price break low of 2nd bar after/at close of 3rd bar. b/c mrkt is sideways since yesterday's last bar.

posting the screen shot of 60 min chart

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............

 

[vikrit]

.
on completion of 3rd bar, we can see this is not a good pinbar, b/c nose part of 2nd bar is less than 50% of whole bar. market still can go down, but we will not enter as per pinbar system.

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[LivetoTrade]

Do Pin Bars work in the Inverted formed state? Like Inverted Head n Shoulder formation?

If Yes, then Eur/Usd should be Bullish ;-)

 

[vikrit]

Do Pin Bars work in the Inverted formed state? Like Inverted Head n Shoulder formation?

If Yes, then Eur/Usd should be Bullish ;-)

yeah. actually i gave examples for short only. same rules for buy. pinbar can be form in both side. if pointing up then short. if pointing down then go long. but as per this formation enter only when it fulfill the criteria for good, to avoid many false ones.

good ones pointing out on your chart-

 

[LivetoTrade]

Reliance Industries - 1 hour chart today :

 

[anantharaaman]

see this in intra

 

[anantharaaman]

see this chart

 

[LivetoTrade]

@anantharaaman - charts not visible in both your posts.

 

[4xpipcounter]

Anan, what are you talking about?
What chart is it that you are referring to?
What intra are you talking about?
I'm just trying to get enlightened.

see this chart