pin bar trade setup
DESCRIPTION
The pin bar trade setup is one of the most effective ways to trade Forex. It is a very reliable price action trade setup and if used correctly very profitable. I will go over the basics of a pin bar trade setup.TRANSCRIPT
What is a Pin Bar?• A pin bar is a reversal pattern trade setup• Very reliable setup• Easy to spot• Long nose, small body• Stands for Pinocchio Bar because the market is lying
about where the price is going
Pin Bar Characteristics• Wick must be 3 times as big as the body• Wick must be larger than the previous bars and stick out
from the rest• Body must be on one end of the wick, not in the middle• Price has to close within the previous candles high or low• The Smaller the body the better, the bigger the wick the
better
Example of a Pin Bar
Use Pin Bars to Trade• Look for pin bars to form on support and resistance zones• Also form with the trend and with space to the left• The bigger the pin bar the better
Example of a Pin Bar on a Chart
For More Information• If you want more information on trading pin bars and how
to become a successful trader using pin bars then visit the link below.
Pin Bar Trade Setup