![]() Just like any other candle on a candlestick chart, if the colour of the body is white or green, the closing price is higher than the opening price, and if the candle is black or red, the closing price is lower than the opening price. It is a candle with a very long wick/tail and a small body the wick/tail generally should be two thirds or more of the total length of the candle. ![]() The characteristics of a pin bar are easily recognisable in pin bar trading. Pin bar reversal trading strategies are particularly successful when the formation of the pin bar is near perfect and it breaks through a key resistance or support price before being rejected.Ī trader who is totally familiar with the formation of a pin bar will find that pin bar strategies, if traded correctly during favourable market conditions, can yield substantial profits. It is a familiar candle formation on Forex charts and is one of the candlestick patterns that are formed by just one candle. The pin bar is a candlestick reversal pattern that indicates that the price action at a particular point has been rejected by the market. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |