Comment by talisman on March 20, 2012 at 11:34pm

this trade came off well and is currently still active and close to 1:4 risk reward.  about 35 pips risked and sitting around 120 pips . stop is trailing fairly close to protect the profit.

Comment by talisman on March 20, 2012 at 11:39pm

i thought i would show how this pinbar looks on a 15 minute chart .  basically the 4 hr pin bar nose is a break of a swing low and the initial stop is the swing high on the 15 minute chart.  the argument could be made that one could use a 15 minute chart and trade breaks of swing highs/lows at key support/resistance levels on a 4 hour chart and obtain similar result.  just my opinion but it kinda makes sense.

Comment by Peter jcp on March 20, 2012 at 11:48pm

Hi Talisman - I knew straight away the pin bar you were on about with Chris in his blog - that you had caught a great one. With it being an high and changing on a 30 min frame it stood out for me - but I failed to leave my scalps on for a swing until early today. I fully appreciate why you placed a 35 pip stop - and you have done extremely well now the RR is in the 4 area but at that time that was just a 5 pip stop for me - and if it had caught me out -  I would have reshorted again on a scalp.

There were various pin bars on under 30 mins charts- even one on a 3 min - but as you say the strenght increases as it falls and portrays it self on the larger frames.

Nice trade and glad you are keeping you trailing close - because as you know the market loves throwing traders out of trades. Keep it tight and if you get thrown out - then look for another place to re- enter if it carries on lower. Have a great week regards Peter

Comment by talisman on March 20, 2012 at 11:50pm

thanks for the feedback. 

Comment by Keith Shaw on March 21, 2012 at 5:26am

Very interesting observation you made there talisman in breaking down the 4hr pinbar into individual 15mins candles and observing the Price Action of the 4hr pinbar from a lower time frame.I agree with your observations and it kinda makes sense to me also. I think this is good use of the idea of multiple time frame analysis and the concept of candle addtion i.e. in this example breaking down a 4hr candle into individual 15min units and getting a Read on the Price Action at a lower level. A good post.

Comment by talisman on March 21, 2012 at 5:49am

thank you for your comments.  this trade is closed now with about 1:3 , 106 pips  to stuff in the sock. 

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