19# Pin Bar with Supporte and Resistance Forex Trading System
Submit by joy22
Time Frame 4H or Higher, Best Time Frame Weekly.
Currency Pairs: all.
for 4H Time Frame: Weekly pivot TZ
for Daily and Weekly KG Supporte and Resistance
Once we have found a nice pin bar we have to see if the price is also close or touching one of the following.
• Support level
• Resistance level
If you have been keeping an eye on the pairs for more than a week then you will already have marked out all the possible support and resistance levels and have a good idea what’s going on long before a entry is formed.
Let's look at a couple of charts using support and resistance along with pin bars
The Entry is:
Buy entry order 50% Pin bar;
Sell entry order 50% Pin bar.
Stop loss 7 pips above or below pin bar.
Target Profit Ratio 1/5, if stop loss is 50 pips profit target is 75 pips.
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Pin Bar Forex Strategies