3# Pin Bar and Awesome Trading System

Submit by Forexstrategiesresources

 

Trading Setup 
Time Frame: 4 hour 
Currency Pairs: Any 
Trading Indicator: Awesome - default
Pin Bar

Pin Bars Defined 
bearish pin bar represents a candlestick composed of a long upper wick, small body and small lower wick. (sellers control the market) 
bullish pin bar represents a candlestick composed of a long lower wick, small body and small upper wick. (buyers control the market)


Rules For A Sell Trade 
1) A 
bearish pin bar appears on the chart. 
2) 4 Hour Awesome is red 
3) Set safety stop at one pip above the high of the pin bar. 
4) Trade objective: 1:2 risk-to-reward ratio or better. 
5) Move stop loss to break even at risk-to-reward ratio 1:1


Rules For A Buy Trade 
1) A 
bullish pin bar appears on the chart. 
2) 4 Hour Awesome is green 
3) Set safety stop at one pip below the low of the pin bar. 
4) Trade objective: 1:2 risk-to-reward ratio or better.
5) Move stop loss to break even at risk-to-reward ratio 1:1

 

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