How to trade using Pin bar candlestick pattern ? – Quick guide
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In this article, I am going to talk about one of the most powerful strategies also known Jackpot strategy in India i.e Pinbar CandlestickStrategy.
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.
Pinbar Characteristics:
- 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 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 SELL trade.
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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.
Winding Up:
So, this is the end of this article I hope you have found this article helpful.
This article was all about What is Pin bar Candle?, Pin bar Candlestick Strategy, What is a Bullish Pin bar?, What is Bearish Pin bar?