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In this article, I am going to talk about one of the most powerful strategies also known Jackpot strategy i.e Pinbar Candlestick Strategy.
If you are a trader you must have heard about pinbar candle a lot of times because it’s really popular and powerful.
What is Pin bar Candle?
Pinbar Candle is a single candlestick pattern that represents a sharp reversal and rejection of price.
- Long Tail
- Colour is not that important
- Price rejection is the real key
There are basically two types of Pinbar candles:
- Bullish Pinbar
- Bearish Pinbar
What is a Bullish Pin bar?
The bullish pin bar is a candlestick pattern that appears mostly after a long series of bearish Candle.
Bullish Pin bar indicates that the time for sellers in domination is about to over and buyers are trying their hard and we may see a change in market domination.
What is a Bearish Pin bar?
The Bearish Pin bar is a candlestick pattern that appears mostly after a long series of bullish Candle.
Bearish Pin bar indicates that the time for buyers in domination is about to over and sellers are trying their hard and we may see a change in market domination.
Pin bar Candlestick Strategy
Well, Pin bar Candlestick Strategy is really basic but really powerful.
The golden rule of Pinbar says:
If we see a continuous Bullish trend and suddenly a bullish pin bar candle appears it means we may see a trend reversal therefore, here we should go for a SELL trade.
Similarly, If we see a continuous Bearish trend and suddenly a bullish pin bar candle appears it means we may see a trend reversal therefore, here we should go BUY trade.
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How to trade with Pin bar candlestick pattern ?
Trading with Pin bar candlestick is damn very easy.
Let’s check some examples.
Given above is 1 hour chart, and we can a see a big uptrend and later a bullish pin bar candle appears and thereafter we see a big down trend.
You can also see I have used support and resistance to confirm my order. as the pin bar above appears near the resistance level so we can confidently take a sell trade here.
This is it!! So, this is the end of this article I hope you have found this article helpful.
So, trading with pin bar candlestick is really very easy.
Just what you need to remember is the moment we see a big uptrend and later a bullish pin bar appears then remember we can see a trend reversal.
Similarly, The moment we see a downtrend and later bearish pin bar appears then remember we can see a trend reversal.
That’s it!!! I wish you all the best. Happy trading!!!