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How to trade using Pin bar candlestick pattern ? – Quick guide

(Last Updated On: 28th May 2021)
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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.

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 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.

Winding Up:

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!!!

 

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