Best 'Pin Bar' Forex Trading Strategy 2020|How to Trade Pin Bar Reversals - Price Action Trading
Best 'Pin Bar' Forex Trading Strategy 2020|How to Trade Pin Bar Reversals - Price Action Trading
The Pin Bar Setup
I bet you have seen many pin bars on your Forex charts. Maybe you haven’t been aware that you are looking at a pin bar formation per se, but you most likely have come across this candle:
Pin Bar Structure
Above you see the structure of the pin bar candlestick pattern and its four variations. The candle’s unique structure includes a long candlewick, a small body, and a small candlewick opposite the long candlewick. An important rule for identifying a pin bar is that the long wick should comprise at least 2/3 the size of the entire candle. Some traders find it useful to program a Pin Bar indicator in Metatrader or their preferred trading platform to make it visually easier to spot on the chart.
Many traders believe that the name “Pin Bar” comes from the pin like or needle like appearance of the candle. Actually, the name “Pin Bar” is short from “Pinocchio Bar” which was popularized by Martin Pring in his book “Technical Analysis Explained”.
The pin bar candle can be seen frequently on a Forex chart. However, the best tradeable pin bars are usually located at the end of an impulse wave, and extends outside of the preceding price action. When traders see a pin bar sticking out above or below the recent price action after a prolonged move, they could prepare to trade contrary to the trend attempting to catch the reversal price momentum.
Pin bars can be thought of as a price rejection zone, where major market participants have rejected price from staying at a particular price level. Before the price action closes a pin bar, the candlewick has initially been part of the candle’s body.
In this manner, before being completed, the pin bar candle has seen a large body in the direction of the trend. This creates the impression that the trend might continue with strength. However, contrary pressure appears and the candle closes near its open level, which ultimately appears as a big candle wick. Typically “The bigger the nose (wick) the bigger the lie”, referring to the unsuccessful big candle body, which has ended up being a wick. This is where the “Pinocchio” name comes from. Therefore, the bigger the wick the pin bar has, the stronger the reversal pressure is expected to be!
Bullish Pin Bar
A valid, tradeable bullish pin bar is located at the end of a bearish trend and its lower candle wick goes below the overall price action. If you spot a bullish pin bar setup on the chart, this will setup a nice opportunity for a long position.
Bearish Pin Bar
The same is true for bearish pin bars but in the opposite direction. The bearish pin bar is located at the end of a bullish trend and its longer candle wick is the upper area. In this manner, the longer wick is sticking out above the price action. The bearish pin bar is usually a good sign of an upcoming price reversal in the bearish direction.
Welcome Friends to 's Biggest Technical Analysis Youtube Channel
Our Dream is to make you an Expert in Trading any Market, be it Indian Stocks, Commodity or Forex Trading. We plan to achieve that by:
* By providing you A-Z of Technical Analysis and Fundamental Analysis training,
* By Giving you tools, Strategies and Indicators to know the markets better,
* By Providing you a Demo trading platform free of cost to test the waters
* By Providing you a Mobile App, to Monitor, Study, Analyze and trade on the Go.
* By Providing you Free Honest Product reviews related to Trading.
Our Channel has Videos basic videos from what is Technical Analysis to advanced concepts like Trading Divergences, we have training videos in Trading Psychology, Money Management along with hardcore Technical Analysis videos.
Wishing you all the very best.
.....................................................
Best 'Pin Bar' Forex Trading Strategy 2020,Trading Pin Bar Reversals - Price Action Trading Strategy,pin bar,pin bar trading,pin bar strategy,pinbar,pin bar trading strategy,trading pin bars,forex pin bar strategy,pin bar forex,pin bar forex trading,forex candlestick pattern,candlestick pattern,reversal pattern,price action trading,the secret mindset,hammer candlestick,pin bar price formation,price action forex trading,pin bar signal,pin bar trading strategy pdf,pin bar vs hammer,bearish pin bar setup,pin bar tool,bullish pin bar hammer
\\\\\\\\\\\\\\\\\\\\\\\
forex trading strategies
best forex trading platform
forex trading for beginners
forex trading tutorial
what is forex trading and how does it work
forex trading reviews
forex market live
forex trading wiki
orex trading in india
best forex trading platform
forex trading for beginners
forex trading tutorial
forex trading reviews
The Pin Bar Setup
I bet you have seen many pin bars on your Forex charts. Maybe you haven’t been aware that you are looking at a pin bar formation per se, but you most likely have come across this candle:
Pin Bar Structure
Above you see the structure of the pin bar candlestick pattern and its four variations. The candle’s unique structure includes a long candlewick, a small body, and a small candlewick opposite the long candlewick. An important rule for identifying a pin bar is that the long wick should comprise at least 2/3 the size of the entire candle. Some traders find it useful to program a Pin Bar indicator in Metatrader or their preferred trading platform to make it visually easier to spot on the chart.
Many traders believe that the name “Pin Bar” comes from the pin like or needle like appearance of the candle. Actually, the name “Pin Bar” is short from “Pinocchio Bar” which was popularized by Martin Pring in his book “Technical Analysis Explained”.
The pin bar candle can be seen frequently on a Forex chart. However, the best tradeable pin bars are usually located at the end of an impulse wave, and extends outside of the preceding price action. When traders see a pin bar sticking out above or below the recent price action after a prolonged move, they could prepare to trade contrary to the trend attempting to catch the reversal price momentum.
Pin bars can be thought of as a price rejection zone, where major market participants have rejected price from staying at a particular price level. Before the price action closes a pin bar, the candlewick has initially been part of the candle’s body.
In this manner, before being completed, the pin bar candle has seen a large body in the direction of the trend. This creates the impression that the trend might continue with strength. However, contrary pressure appears and the candle closes near its open level, which ultimately appears as a big candle wick. Typically “The bigger the nose (wick) the bigger the lie”, referring to the unsuccessful big candle body, which has ended up being a wick. This is where the “Pinocchio” name comes from. Therefore, the bigger the wick the pin bar has, the stronger the reversal pressure is expected to be!
Bullish Pin Bar
A valid, tradeable bullish pin bar is located at the end of a bearish trend and its lower candle wick goes below the overall price action. If you spot a bullish pin bar setup on the chart, this will setup a nice opportunity for a long position.
Bearish Pin Bar
The same is true for bearish pin bars but in the opposite direction. The bearish pin bar is located at the end of a bullish trend and its longer candle wick is the upper area. In this manner, the longer wick is sticking out above the price action. The bearish pin bar is usually a good sign of an upcoming price reversal in the bearish direction.
Welcome Friends to 's Biggest Technical Analysis Youtube Channel
Our Dream is to make you an Expert in Trading any Market, be it Indian Stocks, Commodity or Forex Trading. We plan to achieve that by:
* By providing you A-Z of Technical Analysis and Fundamental Analysis training,
* By Giving you tools, Strategies and Indicators to know the markets better,
* By Providing you a Demo trading platform free of cost to test the waters
* By Providing you a Mobile App, to Monitor, Study, Analyze and trade on the Go.
* By Providing you Free Honest Product reviews related to Trading.
Our Channel has Videos basic videos from what is Technical Analysis to advanced concepts like Trading Divergences, we have training videos in Trading Psychology, Money Management along with hardcore Technical Analysis videos.
Wishing you all the very best.
.....................................................
Best 'Pin Bar' Forex Trading Strategy 2020,Trading Pin Bar Reversals - Price Action Trading Strategy,pin bar,pin bar trading,pin bar strategy,pinbar,pin bar trading strategy,trading pin bars,forex pin bar strategy,pin bar forex,pin bar forex trading,forex candlestick pattern,candlestick pattern,reversal pattern,price action trading,the secret mindset,hammer candlestick,pin bar price formation,price action forex trading,pin bar signal,pin bar trading strategy pdf,pin bar vs hammer,bearish pin bar setup,pin bar tool,bullish pin bar hammer
\\\\\\\\\\\\\\\\\\\\\\\
forex trading strategies
best forex trading platform
forex trading for beginners
forex trading tutorial
what is forex trading and how does it work
forex trading reviews
forex market live
forex trading wiki
orex trading in india
best forex trading platform
forex trading for beginners
forex trading tutorial
forex trading reviews
