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
A bearish pin bar represents a candlestick composed of a long upper wick, small body and small lower wick. (sellers control the market)
A 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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