How to Trade the Pinocchio Bar||One of the Most Powerful Price Patterns in Forex Trading
How to Trade the Pinocchio Bar||One of the Most Powerful Price Patterns in Forex Trading
The Pinocchio Bar or Pin Bar is a popular price pattern among traders who use technical analysis. The Pin Bar is easy to spot, and you can trade it effectively within the market’s support and resistance structure. The dynamics underlying this simple price pattern is intriguing.
In Martin Pring’s Technical Analysis Explained, he calls the pattern Pinocchio because it lies.
It lies about the market direction. And its long nose exposes its lie.
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