Pinocchio Bar (Pin Bar) Formation & System

vikrit

vikrit

Well-Known Member
#56
#56
anantharaaman said:
vikrit this is eod and its work very well there are 2 pinbar first is short and the next for long which is down side nose both work very well see closely
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the down side nose you are talking is not a pinbar (as per my understanding), b/c-

1. open and close is not within first eye. (this can be consider to overlook if difference is not much)

2. and this formation (eyes+nose) not sticking out from surrounding bars, or simply say there is not even small trough like thing.


with daily tf, trading positional then it cant be consider as a very good trade.
for exit decision you have to take help of some other thing in lower tf, and if using fix target for positional trade then the target itself is very low.

If i will take short trade on 1st pinbar, then exit on top of 1st+1, re-enter in short near close of 2nd pinbar, exit on close of the next bar which is taking support at 90-91 area.

if you are using daily pinbar to see intraday bias, then its ok, but its risky and difficult to trade.

these are my views if think differently, trading can be done in any other way or find any error, plz feel free to give your inputs.
 
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