Pin Bar patterns are in the top three patterns to know: Example is bearish pin bar with nose which happens at a high liquidity time and volume too.
Three types of pin bars are: Standard pin bar, Pin bar with nose and Pin bar with no real body.
In general, Pin Bars are two types. The bullish pin bar, and the Bearish Pin bar. Bullish Pin Bar signals Long or Buy trade entry, and a Bearish Pin Bar signals the Short or Sell trade entry. Use 1 hour, 4 hour or daily pin bars at major support or resistance for better results. Fib Ret tool helps & pullbacks work.
Every pin bar consists of a real body or a head. And a tail or long shadow.The real body is the difference between the opening price and closing price of a
candle. So, if the closing price is higher than the opening price of a pin bar, then this types of pin bars are called the bullish pin bar. And if the closing price is lesser than the opening price, then this types of pin bars are called the bearish pin bar. A bullish pin bar is the sign of buyer’s strength and a bearish pin bar signals the strong selling pressure of a certain security.
Based on the formation of pin bar, you will find 3 types of valid pin bars in a price action chart.
1- Standard Pin Bar: The first type of pin bar is the standard pin bar, this types of pin bars contains a real body and a long tail. They are the strongest than other two pin bars. You will see no extra shadow or wicks attached to the real body of this types of pin bars.
2- Pin Bar with extra shadow: The second types of the pin bar, is the pin bar with a nose or extra wick attached to the real body. These pin bars are also called as the hanging man. This types of pin bars shows less strong market momentum than the standard pin bars. The nose above or below the real body indicates the opposite directional force and hence shows weakness of the pin bar.
3- Pin Bar with no real body: This type has no real body but a tail. That means the opening price and closing price of the pin bar is same. The signal strength of this types of pin bar is very week. If you can find a strong bullish or bearish candle after these types of pin bars, then this patterns gives a very strong trading signal.
Three types of pin bars are: Standard pin bar, Pin bar with nose and Pin bar with no real body.
In general, Pin Bars are two types. The bullish pin bar, and the Bearish Pin bar. Bullish Pin Bar signals Long or Buy trade entry, and a Bearish Pin Bar signals the Short or Sell trade entry. Use 1 hour, 4 hour or daily pin bars at major support or resistance for better results. Fib Ret tool helps & pullbacks work.
Every pin bar consists of a real body or a head. And a tail or long shadow.The real body is the difference between the opening price and closing price of a
candle. So, if the closing price is higher than the opening price of a pin bar, then this types of pin bars are called the bullish pin bar. And if the closing price is lesser than the opening price, then this types of pin bars are called the bearish pin bar. A bullish pin bar is the sign of buyer’s strength and a bearish pin bar signals the strong selling pressure of a certain security.
Based on the formation of pin bar, you will find 3 types of valid pin bars in a price action chart.
1- Standard Pin Bar: The first type of pin bar is the standard pin bar, this types of pin bars contains a real body and a long tail. They are the strongest than other two pin bars. You will see no extra shadow or wicks attached to the real body of this types of pin bars.
2- Pin Bar with extra shadow: The second types of the pin bar, is the pin bar with a nose or extra wick attached to the real body. These pin bars are also called as the hanging man. This types of pin bars shows less strong market momentum than the standard pin bars. The nose above or below the real body indicates the opposite directional force and hence shows weakness of the pin bar.
3- Pin Bar with no real body: This type has no real body but a tail. That means the opening price and closing price of the pin bar is same. The signal strength of this types of pin bar is very week. If you can find a strong bullish or bearish candle after these types of pin bars, then this patterns gives a very strong trading signal.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.