128# PIN BAR Forex Scalping
Pin Bar Indicator
Submit by ForexStrategiesResources 01/03/2012
This scalping system is based on the pin par pattern indicator, cci indicator and bollinger bands.
Time frame 5min
Currency Pairs: EUR/USD, GBP/USD, AUD/USD
SESSION New York and London
Indicators:
Pin Bar indicator
CCI (14)
Bands (20. 1.5)
Long Entry:
Wait formation Pin Arrow outside of the lower band entry when CCI cross up from bottom 0 zero level.
Short Entry
Wait formation Pin Arrow outside of theupper band entry when CCI cross down from the top 0 level.
Profit Target is very fast 5-9 pips depends by currency pairs. EUR/USD 7 pips , GBP/USD 9 pips, AUD /USD 5 pips.
Stop loss 3 pips below or above the Bollinger Bands.
In the pictures Pin Bar forex system in action.
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