markuspd
Short

Looking like a pin bar reversal

FX:USDTRY   U.S. Dollar/Turkish New Lira
82 0 7
Sell if the current candle becomes a reverse pin bar .
Kumo breakout is looking unlikely since the future kumo is still red and CS             is finding resistance at the kijun, I am looking for the cs             to follow kijun down.
Trade closed manually: I have taken decent profits waiting for pullback and will buy back in.
Comment: I am back in this trade on the pullback but I would recommend waiting for the price to break down through kijun before entering again but if we break the cloud to the downside there could be a long way to go with this trade.
Trade closed: target reached: It was a good trade in the end but reversed straight back up into the cloud which is why I take profits on large candles and look to reenter on the pullback.
Comment: I should also mention again that I use this method as I like to get in and out of trades as fast as possible as I dont use a stop loss.
Comment: Question now becomes will it break out to the upside, we have a green kumo forming but the current candle again looks like it might be another reverse pin bar so there may be another short trade very soon.
Comment: I missed the breakout to the upside due to work but Im in now with a small profit, ill let this trade run for a while and watch the candles but I dont expect it to go too high.
Comment: This pin bar reversal trade happens often when we are expecting a kumo breakout, it has caught me many times where I expected a breakout and it went the other way fast.
Every time I have seen a pin bar reversal right before breakout it is a clear sign no breakout will happen. This time I was ready for it.
Huge lesson for anyone trading ichimoku!.
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