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Pin Bar

Serious Confluence Indicates – GBP/JPY going fo CorrectionQuasimodo Level after MACD Divergence and Pinbar Pattern in GBP/JPY Today, this GBP/JPY pair is in a downtrend of almost 1000 pips and is still considered bearish. Yesterday’s 1D chart, the candle has ended as a Pinbar pattern. The Pinbar candlestick pattern is a reversal pattern and is a very reliable pattern to use amongst forex traders. In this 1D chart, there is a bullish Pinbar which shows us the first signal for a reversal opportunity. There is also a MACD Divergence price formation. If the price creates a lower low, then the MACD creates a higher low. This indicates that the downtrend is decreasing its strength, and now gives us the second signal for reversal opportunity. This is at least for the short term. In the 1H chart, below, there is a third signal, which is a new demand, and it is a Quasimodo level which is considered to be a very powerful level. The confluence of these three signals, the Pinbar pattern, MACD divergence, and the Quasimodo level, all create a reliable opportunity for a reversal position. The right level to open buy position is the demand below, which is the Quasimodo level, and of course only, if the price retraces to that level. The first target for this position is number 1, the supply above. The final target will be number 2, the supply at the top.
Long
by the5erstrading
GOLD SHORT!Hey Traders, We were pretty busy recently working on our new YouTube channel, so apologies for not being active for a while. Gold produced a lovely textbook bearish pinbar confirmed by a high volume. It is also a sell zone with a huge psychological number 1350 + monthly resistance +weekly angled resistance+ daily bearish divergence. Therefore is it our hot spot. The more confluences the higher probability for us to make some money. What is your bias on this market? Happy Trading!
OANDA:XAUUSDShort
by CryptocurrencyWizard
How Far could this Technical Correction move, before The Long TeThe last USOIL weekly candle formed a bullish pin bar pattern following a closure. The Pin Bar candlestick pattern is one of the most reliable and powerful candlesticks patterns for technical Forex analysis. If this pattern is found near a support or resistance key level, it is then a reliable indication for a reversal pattern. Although the last week candle ended as a bullish pin bar candlestick pattern, zooming out for the bigger picture. it is clear that the long term momentum in USOIL price remains bearish. It seems that for the long term, any upward movement of the price will be considered as a technical correction, regardless of the price continuing a bearish momentum. First, it will move upward to collect unfiled orders from the supply above, which we can see on the 4H chart, and maybe even from the supply at the top. On the 4H timeframe – A fresh demand zone located just below 52ish, if the price touches this demand before reaching the supply above, it will be great timing to open for a buy position. The supplies above will be the first target and the one at the top is the final target.
FX:USOILLong
by the5erstrading
1
TECHNICAL ANALYSIS OF NEOUSDT CRYPTOCURRENCY PAIR Third week of February has seen the biggest buying in Binance history for the pair. Bearish pin formed and was later broken to the upside. Price action of the last ten weeks is signaling break of important 13.800 price level. NEO seems to be a good investment opportunity and 13.800 is a good price to buy. Margin trading should be avoided. Even if the mentioned signals don’t work out, the next idea is just to hold NEO. If bull trend develops reaction around 25 level is expected. One option would be to take some profits out. Next (major) level is 40 and price reaching that level means having nice profit. Maybe holding on to some NEO after that for some wilder ideas is not so bad. Here is the link for fundamental research. neo.org Picture tells more than thousand words. Enjoy.
Long
by UnknownUnicorn4442145
EURJPY Heavy Divergence Between Price and Momentum...Analysis -EURJPY looking bullish after showing signs of reversal. Sellers pushed down into support but buyers bought it back up before the daily candle close. -The price action resulted in a very clean pinbar setup at support which is a bullish sign. -On the 1H time frame, price looking to break the trendline to the upside. -There is also strong bullish MACD divergence on the 1H time frame following a head and shoulders pattern which further eludes to price possibly moving higher in the coming days. -The reward/risk is good for an entry on the break of the trendline (given the distance between daily S/R levels) *Trade safe and at your own discretion!*
Long
by Mankz
USDJPY's Stop and Reverse Setup...Analysis -USDJPY looking bullish after showing signs of reversal. Sellers pushed down into support but buyers bought it back up before the daily candle close. -The price action resulted in a pinbar setup at support which is a bullish sign. -On the 1H time frame, price looking to break the trendline to the upside. -There is also strong bullish MACD divergence on the 1H time frame following a double bottom pattern which further eludes to price possibly moving higher in the coming days. -The reward/risk is good for an entry on the break of the trendline (given the distance between daily S/R levels) *Trade safe and at your own discretion!*
Long
by Mankz
AUDUSD Momentum Fading (Upside Ahead)Analysis -AUDUSD looking bullish and showing signs of a potential reversal following days of consolidation. -The price action in the consolidation resulted in a daily pinbar at support which is a bullish sign. -On the 1H time frame, price is making equal lows and looking to break the trendline to the upside. -There is also bullish MACD divergence on the 1H time frame which further eludes to price possibly moving higher following the equal lows. -The reward/risk is good for the setup (given the distance between daily S/R levels) *Trade Safe and at your own discretion!*
Long
by Mankz