This is a simple trading strategy with
the pin bar that describes how price action works with this pattern.
Pin Bar pattern is one the most used pattern by price ation
traders, this strategy designed to work without indicators. This
trading system is based on price analysis only on “Pin Bar
pattern”.
Rules Trading with “Pin Bar”
Pattern without indicators
BUY signal:
A Long entry signal is opened if there
are the following conditions :
A closed candle is red;
A difference between the Low and the
Close prices is greater than half of the candle (difference between
High and Low);
A closed candle is overlapped by the
previous candle;
The low price is less than the Low of
the previous candle;
Open a buy order if the previous c
conditions are met and the price reaches above the High level of the
last closed candle.
Stop loss is set 2 pips below the Low
price of the last closed candle.
A Trailing Stop is set (default is
15-30 pips depends by time frame ) when the position is profitable.
Sell signal:
A Short entry signal is opened if
there are the following conditions :
A closed candle is green;
A difference between the High and the
Close prices is greater than half of the candle (difference between
High and Low);
A closed candle is overlapped by the
previous candle;
The high price is less than the High of
the previous candle;
Open a sell order if the previous
conditions are met and the price reaches low h level of the last
closed candle.
Stop loss is set 2 pips below the High
price of the last closed candle.
A Trailing Stop is set (default is
15-30 pips depends by time frame ) when the position is profitable.
https://drive.google.com/file/d/0Bwjv2Pbf48itZFY0akpjTVEyUFE/view?usp=sharing
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