japanese candlestick patterns (pin bar)The pin bar:
It is candlestick pattern that consists of just one candle, it has a long lower wick and short body and little or no upper wick. Strictly speaking, the lower wick should be at least two times longer than the body, the longer, the better.
There are two types of pin bar , the bullish pin bar which is a reversal candle that occurs at the end of downtrend and reverse the trend. A bearish pin bar which is also a reversal candle that happens at the end of an uptrend and revers it
As you can see this chart, almost pin bar appear the trend will change reversal. This is one of the best in price action.
Pin Bar
SUGARUSD EMA 10 EMA 20 Pin Bar TradeAfter a break out, wait for the right moment to enter. Don't be in a rush to enter the market. Wait for confirmation of the trade set up. If trade signal does not occur, then do not enter the market.
For SUGARUSD, the confirmation signal occurred on February 4, 2021. See Pin Bar located at the EMA 10 EMA 20. After price breaks a horizontal key level, wait for the trade signal. Price may bounce around the horizontal support resistance key level. The signal may not fall neatly on support resistance level. Remember support resistance levels are areas. Be patient and wait for a signal to form in the area.
GBPUSD down to 1.3920 - premarket forecastExpecting GBPUSD to retrace to 1.3920 after rejecting off of resistance that has held price within a daily consolidation range for a couple of weeks now. Maybe price gets enough steam after retracing to break out of the range but it is showing signs of rejection at the top of the range on the daily chart and with a pinbar formed at resistance on the 4 hour chart.
Daily new york session watchlistGBUSD as we remind you was moving into the range boundries now it is near to the major psychological level where we are expecting the breakout for the growth zone start now wait for confirmation and more confluence nee to match all the price action
Make sure you watch the price action closely in each analysis as this is a very important part of our method
EURMXN Take Profit At 24.27719 ; 24.37017 ; 2021 Apr 28 TradeEURMXN Take Profit At 24.27719 ; 24.37017 ; 2021 Apr 28 Trade Idea at 20:00
After Pin Bar formed, placed buy limit order at 24.11001. Stop Loss Level is 24.04090. R-Multiple is 2.42R.
Why did this trade work perfectly? Four or more touches for support resistance level, identification of trend, and pin bar price action signal.
Pennant Pattern On The H4 Chart (2021 April 28 ; 20:00)Trading the Pennant (Symmetrical Triangle). Wait for a close above/below the diagonal level. In this case, wait for a close below diagonal support resistance level. After the close, diagonal support turned resistance. Next, watch for a pin bar to form at the Resistance Line, EMA 10, EMA 20 in a Pull Back.
Enter at closing price of the pin bar, break of the pin bar nose with a sell stop order, or 50% Fibonacci Retracement of the pin bar with a sell limit order.
Stop Loss is place 5-10 pips above the pin bar tail. Or stop loss is placed above the break out candle.
Take Profit is the first point of the trend line. In this case, the take profit level is 0.94906.
Pin Bar is date 28 April 2021 time 20:00.
XPTUSD Entry Price Between Fibonacci 0.236 and 0.382Watch for an entry near Fibonacci Retracement Level 0.236 (Price 1256.302) and Resistance Level Turn Support at Price 1255.450.
Wait for a price action signal in the form of pin bar at Fibonacci Level Area 0.236 and 0.382. You will want to enter a buy order in the area of Exponential Moving Average Period 10 and Exponential Moving Average Period 20 "AND" the area of Fibonacci Retracement Level 0.236 and 0.382.
So, for confluence, use the following factors:
Look for a Pin Bar in a pull back at
* Fibonacci Retracement Horizontal Level (0.236 0.500)
* Support Resistance Horizontal Key Level (1255.450)
* Support Resistance Diagonal Level (Trend Line)
* Dynamic Support Resistance (EMA 10 EMA 20)