Do you even...Pinbar?
Updated
Can you figure out the differences in the three pinbars highlighted...bearing in mind that the shape, length, or colour of the pinbar does not matter in this case.
Pinbars occur in the market as a result of two scenarios:
1) When institutional traders place large positions in order to reverse what we call a "trend"
2) When institutional traders take profit off existing trades, this action reduces the "volume" within a candle...hence the wick.
Comment if you have questions about pin bars.
Pinbars occur in the market as a result of two scenarios:
1) When institutional traders place large positions in order to reverse what we call a "trend"
2) When institutional traders take profit off existing trades, this action reduces the "volume" within a candle...hence the wick.
Comment if you have questions about pin bars.
Note
16:06pm GMT - Today's candle is currently forming a pinbar. refer to the above to determine your trade.
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.