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Pin Bar

AUDUSD 1H PTICE ACTION PIN BAR STRATEGYStep 1: Find a Pin Bar On Your Chart *Note This is a stock price action strategy, and a forex price action strategy. I will use a currency pair as the example. Price action charts are with any market and timeframe. What you need to do first is identify a pin bar that has formed. Step 2: Look for Past Price Action to Determine Why The Pin Bar Formed. Why did the reversal suddenly hit a price and then continue back to the upside? Let’s zoom out a bit on this one hour chart and see if we can see anything that tells you what happened. Note** you can either look at the current time frame you are on( in this case 1-hour time period) or bump up one or two periods to gather information. This is what Price Action is all about. No two trades will be the same. However, we can take what we have learned from the past and make the best judgment as to where the price may be headed in the future. You are essentially like a detective when you trade price action. The point is to gather many pieces of evidence to back up your conclusion. You are trading with confluence. Sometimes simple is best. Study the charts and form an educated conclusion as to what happened and where the price will go. Step 3: Trade entry You just enter the trade 2-3 pips from the break of the nose of the pin bar. Step 4: Stop loss Place the stop loss 3-5 pips away from the wick. The end of the wick will be a support area. So if this is broken the trend may continue downward. Which is why you place your stop 3-5 pips away from this. Step 5: Exit Strategy Your exit strategy will be when you hit the first level of support or resistance on your chart. Price will hit a point and stall out. Once we see the price action stalling out, we exit the trade immediately.
Short
by Tradingstrategyguides
2
DXY - Bearish pattern forming off of key resistance levelA large bearish pinbar is currently forming off of a key resistance level. Keep in mind that there are a few hours left in the market so this pattern will not be confirmed until it has fully formed as a bearish pinbar and today's candle has officially closed. If the candle does close the day as a bearish pinbar then we could see price rotate lower over the next few weeks. If the candle closes as a bullish candlestick, there is still opportunity for a new bearish pattern to form but we could see price rotate even higher towards the 97 range. How today's candlestick finishes forming will tell us a lot.
TVC:DXYShort
by krugman87
Education post 1/100 - How to trade pin bars?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, but you most likely have come across this candle on the chart 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.
Education
by GroundStoneHoldings
USDCHF Long SetupAnalysis 1. USDCHF daily candle closed as a pinbar at support (Rejection of lower price intraday) 2. Stoch/RSI showing bullish divergence as price is making lower lows which is implying weakening of sellers 3. Stoch/RSI coming out of "oversold" areas on daily chart Trigger Set pending buy stop on the break of the pinbar candle's highs Trade -Set stops below the lows of the pinbar candle and targets around 0.9700 to 0.9720. -A solid 1:2 risk to reward ratio could be achieved as targets fall within the range.
Long
by Mankz
BA bearish butterfly and daily shooting star combinationFirst of all, I don't really want to short this name. But this trade is too good to ignore, a harmonic pattern and daily shooting star combination! I won't take the trade as I don't have other conviction to short Boeing at all, but I would very like to record this trade down and see how it goes yo! Still, this is a better sign for the bulls to take some profit rather than for the bears to create short positions. Let's see how it goes!
NYSE:BA
by Trader_Joe_Lee
EURAUD SHORTAnalysis -EURAUD at yearly highs. -Bearish pinbar reversal closed on daily at resistance. -All oscillating indicators are in overbought territory. (Candlestick patterns or price always precedes the curl back of oscillators from overbought or oversold conditions to normal conditions) Trigger Set pending sell stops on the break of the pinbar candle's lows. Trade Set stops above the highs of the pinbar and targets around 1.61 since price is likely to retest that level (previous resistance = support) *Highest resistance shown is due to price rejection/range bound at that level from Sep 2015 to Mar 2016
Short
by Mankz
NZDCAD LongAnalysis 1. Bullish pinbar reversal closed on daily at support. 2. Price at bottom of descending channel 3. NZDCAD at yearly highs. 4. Descending wedge ( bullish ) within channel 5. All oscillating indicators are in oversold territory. ( Candlestick patterns or price always precedes the curl back of oscillators from overbought or oversold conditions to normal conditions ) Trigger Set pending sell stops on the break of the pinbar candle's highs. Trade Set stops below the lows of the pinbar and targets around 0.865 since price has a chance to stall at that level. Monitor lower time frames and see if momentum warrants extending targets.
Long
by Mankz
4
EURNZD - Short from daily pinbarAnother overbought market with a pinbar off the daily on the 5th of september, Reaching a new high for 2018 at 1.77340 with a sharp retracement leaving the day to close below 1.765. The rest of the week pulled back up slowly with the highest high on friday of 1.77120 still approx 20 pips below the 2018 high, closing our end of the week Friday just below resistance at 1.76886. With week bullish pressure and supporting order flow on the 4hr to expect a bearish change, leads us to our entry of 1.76271, Stoploss at or above our yearly high for some breathing room and our take profit around a viable area ontop of price at 1.74268, Feel free to adjust the trade for your on preference, Updates will be made when necessary. We'll see how the market moves in recovery of a volatile week. Happy Trading.
Short
by Spesh_SSTGcfx
USDCHF: Consolidation is over - Middle termWe can spot, that the Double Top pattern has confirmed. The second TOP candle is bearish pin-bar, which is signalizing the reversal on the market. It pushed the USD/CHF lower. We could see the market consolidation, which lasted more then 4 months (0.98-1.006). The neckline was set at the value 0.98, which had to be broken to make the formation valid. A few days ago, it happened. Now the price a little bounced from 0.965 with candle, which looks like a bullish pin bar. It just seems like bullish pin bar (maybe market consider it, but it is not good pin-bar). Today were published the (YoY) results from Inflation 1.2 percent as expected and also (MoM-August) Inflation, where we can see a little progress at 0.0 percent versus past monthly values -0.2 percent. This are still low value and the market responded with a growth of USDCHF. If the market breaks the green resistance (0.971), the market could test the blue resistance. From a short term view, we can see RSI at really low points and MACD is near the crossing up. On Histogram we can see, the bears are getting weaker. So short term view could be bullish. But we should we aware, the market has confirmed a double top formation. We are also under all important EMA (200,100,50), so currently I don't expect a bigger move (over the EMA). From Middle term I expect breakout the red zone and test lower supports. But from short-term it can be a little bounce to the blue resistance or below the EMA. This is just my point of view, not investing advice. I'm not responsible for your losses.
by SlovakTrading
GBPJPY (Short on trend)Hello, colleagues. According to my price analysing system, there is a signal on a short at GBPJPY. Down trand is clearly seen. Price is increasing, creating pullback of down trand and it has already moved for 50% of previous movement (an extra reason to sell). As the price moves upwards it slowed down creating pins. What is more, price has breaked a bit through EMA 8-21 which I use as Dynamical: Support and resistance. To start with, I put 3 to 1 R\R, despite the potential 4to1. If the order closes at stop, I'll wait for a movement to 144.400 - 145.000 zone and look for a signal to sell there. I'm waiting for your feedback and critic.
Short
by Globe
USDCHF pin bar formed between two past resistance levelsBear pinbar formed on 2018-05-04 at market close time. This is a strong reversal signal. First case: Pending sell below resistance level of december 2017. Second case: price goes up and bounce on resistance level of November 2017. Set an alarm at that level: if price touch the level and close below, it is a signal of strong resistance so sell with TP and 0.99671. Third case: price close above resistance level of november 2017. This level will become a spport, so place a Buy out of this level, using the same alarm of case 2.
by 03.freeman