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Pin Bar

ZS - opportunity to buy this dipZS gapped and broke above a neckline "zone" (142 - 145) on 2nd June, eventually hitting a high of 162.67 before retracing all the way back to the neckline. The stock is still in the early stage of an uptrend as it is now trading above it's 200 day moving average (with a golden cross that happened last Thur). "Breakup and retest of a neckline" often provides a 2nd opportunity to long as stock rebounds back above the neckline. However, in ZS' case, the rebound that followed after the initial retest of the neckline was feeble at best. After whipping around the neckline for slightly more than a week, there was a sudden more aggressive sell off last Thursday (6th Jul) as it attempted to close the gap @ 135 that formed just prior to the breakup. The gap closing mission did not succeed as it appeared bulls came back in force resulting in the formation of a small pinbar (bullish) by the day's close. The trigger to long however, came only this morning as ZS began to rise above the neckline decisively. The bulls appear to be back in control again with today's strong bullish candle thus far (a variation of "morning star" formation) . Currently stop loss should be placed just below the mini pin bar that formed on 6th Jul (ie under 138). I suspect we won't see anymore attempt to close the gap @ 135 in the near future (although nothing is guaranteed!) Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
NASDAQ:ZSLong
by Juliac
CRWD - opportunity to buy this dipCRWD broke up both above its neckline @ 139 as well as it's 200 day moving averge on 18 May. Traded to a hgh of 162.25 before retracing all the way to retest it's neckine. It formed a mini pin bar right at the neckline, affirming that the neckline is now the "support" in the near term. This is a 2nd opportunity to long if we had missed the breakup, with an initial stop loss just slightly below the neckine of $139. Expect some resistences should it able to rise towards old supply zones around 167,181,195 and 205 etc). Take partial profits and also trail stops up along the way according to one's risk appetite and trading style (short or longer term). Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
NASDAQ:CRWDLong
by Juliac
How to Trade the Pin Bar Pattern on Forex and Gold 🕯 The pin bar is a powerful price action setup that tells a fascinating story concerning price momentum and the possibility of an imminent reversal in price direction. A pin bar is a Japanese candlestick that has a long wick on one side and a small body. Understanding the story behind the pin bar is essential. 📚What does the pin bar candlestick pattern tell us about market psychology? 📉This pin bar followed a strong downward trend, and the presence of a long tail below the body tells us that the market rejected any attempt by overly exuberant sellers to move the price lower. The length of the tail speaks to the strength of the rejection. 📈The pin bar followed by a strong uptrend, and the presence of a long tail above the body tells us that the market rejected any attempt by overly exuberant buyers to move the price higher. The length of the tail speaks to the strength of the rejection. ⭐️The best pin bars are bearish pin bars that form at the top of an extended move up, and bullish pin bars that form at the bottom of an extended move down. ✅Entry and exit is very simple. If you are going short on a bearish pin bar, enter short when the next candle opens and ticks below the low of the bearish pin bar. If you are going long at your fx broker, enter long when the next candle opens and ticks above the high of the bullish pin bar. ❗️Keep in mind that these are general trading concepts that build on the collective experience of traders. Even though a lot of traders believe that these chart patterns have a bearing on the future direction of the price there are no guarantees in trading. Forex & gold trading is risky and you should never speculate with funds you cannot afford to lose. Please, like this post and subscribe to our tradingview page!👍
OANDA:BTCUSDEducation
by EliteTradingSignals
4
How to Trade the Pin Bar Pattern on Forex and Gold 🕯 The pin bar is a powerful price action setup that tells a fascinating story concerning price momentum and the possibility of an imminent reversal in price direction. A pin bar is a Japanese candlestick that has a long wick on one side and a small body. Understanding the story behind the pin bar is essential. 📚What does the pin bar candlestick pattern tell us about market psychology? 📉This pin bar followed a strong downward trend, and the presence of a long tail below the body tells us that the market rejected any attempt by overly exuberant sellers to move the price lower. The length of the tail speaks to the strength of the rejection. 📈The pin bar followed by a strong uptrend, and the presence of a long tail above the body tells us that the market rejected any attempt by overly exuberant buyers to move the price higher. The length of the tail speaks to the strength of the rejection. ⭐️The best pin bars are bearish pin bars that form at the top of an extended move up, and bullish pin bars that form at the bottom of an extended move down. ✅Entry and exit is very simple. If you are going short on a bearish pin bar, enter short when the next candle opens and ticks below the low of the bearish pin bar. If you are going long at your fx broker, enter long when the next candle opens and ticks above the high of the bullish pin bar. ❗️Keep in mind that these are general trading concepts that build on the collective experience of traders. Even though a lot of traders believe that these chart patterns have a bearing on the future direction of the price there are no guarantees in trading. Forex & gold trading is risky and you should never speculate with funds you cannot afford to lose. Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
10
USDCAD bullish bat may lead price to revisit 1.37000 lvlHey everyone ! price have finally reached point D of the bullish bat, for those who dont know what it is : bullish bat is an harmonic pattern established by market scientist that defined an area in which price have a high probability to reverse (higher than 70% winning rate if the analysis was done great). it is based on market sentiment, price action and mathematic models now we observe that we got a positive reaction of the price around this 1.33 level acting as support, in which a rejection was formed : pinbar meaning the last bears that entered were trapped. and it was followed by a 618 pullback, therefore forming a higher low Adding to this price action analysis, the macd indicator is supposing that we're on an highly oversold level. Price may revisit the 1.37000 level which is the 618 fib level (target), however dont forget to take some profit when reaching the 1.35 resistance ! tell me your toughts in the comment section. And dont forget to press the like button if you think this idea was helpful ! Best wishes for a great week ahead.
Long
by Thomas_Zito
1
GBP JPY - Short Observed on Weekly Time FrameThe weekly chart for GBP JPY is telling a story. It starts with showing a broken trendline. As you can see on my chart, the trendline is broken to the downside and then retested (also retesting a major level of resistance). At this meeting point, a weekly pinbar is formed (highlighted in green). Price shows us a rejection as its reaction. There are only 3 main objectives from this point: 1. Set a stop loss 2. Set a target 3. Let price do its thing
Short
by JohnnyB61887
Silver - Wanna Bounce??Been waiting on this one for a minute. Silver last daily close was an invitation to long but hey, let's see what's going on. Silver has been on the up like everything else since last September/October. It went from 18.00 all the way to 24.50, it's huge, a 30% increase in 3-4 months, but, then, it's been hitting the ceiling pretty hard. I can count 6 touch on the Daily. Of course, we helped it going down when it decided it was enought, but here it is now, dropping a nice and sweet pinbar right on the trendline, so, it might want to go back up a little bit. The situation : 1) We're still in an uptrend 2) Dollar has been strong lately, but DXY and all the related USD pairs act like they can take a break from dollar's push 3) Price formed a nice Daily pinbar, 4) Price is acting like it's bouncing from the trendline, like it already did 5 times in the past 5) If you look left, you can see that price is located where an imbalance has been created last November, it could still be orders pending right where we at right now 6) Price has come close to our area of interest in a corrective manner, see the falling pennant following the big drop. A descending pennant in a downtrend is usually a reversal pattern 7) Price wicked off the psycological 21.00 level 8) Finally my oscillator has been wayyyy oversold, for a minute, and the blue line just crossed the orange line, under the 15 level Well, Silver, we've made a pretty strong case in favor of a raise, even temporarely, going for the 0.38 - 0.61 area of the previous drop. This is just an idea, and I can be wrong, just pointing the facts, and there are lots of facts Cheers everyone and safe trading!!
FOREXCOM:XAGUSDLong
by aemerydufoug
EURUSD SHORTEURUSD is behaving like it going to go south for a little bit, let me explain, The price as hit a very strong resistance, the 1.10 level, and is rejecting a couple other major chart elements, I'm going to look for entries on H8 - H12 and D1 and help EURUSD get to the 1.04 - 1.05 Level first, then back to the 1.00 Level is further selling pressure The reasons are the following : 1) Price has rejected the psycholigical level of 1.10 2) Price has retested and rejected the Trendline of a massive correction that happened between 2017 and 2022 (the red trendline) 3) Price is rejecting the 50% Fib retracement of a the huge downtrend that occured between may 2021 and October 2022 4) All of this is confirmed by last week's closed weekly candle, that is making a beautiful pin bar, after it did a false breakout to go and get liquidities from the 1.10 Level All for this is constituting a case in favor of a drop of the euro, I will look to short it until it shows any strong signs of reversal on the different levels mentionned above, the 1.05 level, the 1.00 level, and eventually, the 0.95 Level Don't hesitate to leave a coment or ask if you have any question Cheers and trade safe!!
Short
by aemerydufoug
1
Gold - Wanna Take a Breath?! Gold has been hit pretty hard by the rise of dollar since a couple of weeks. It broke the ascending trendline it was in since november violently, without retesting it, falling like a rock all the way to the 1800s. But now could be the time for a little push up. It could either be a retracement if gold wants to print a downtrend, in what case we would go up to make a Lower low or even a double top. Or it could be a continuation of the uptrend. Both are possible, but for now, I'm gonna play the uptrend card. The situation : 1) We're still officially in an uptrend 2) Price is at previous support 3) It pushed away from 1800ish level, 4) It's been approaching the support in a corrective manner, a falling wedge being a sign of a bullish reversal 5) It's rejecting the 50 - 60% Fib retracement level of the massive uptrend that happened between november and february 6) Pinbar on Daily, tweezers on H12, morning star on H8 This situation is pretty similar to the one with silver. It looks pretty scary to get into a long after such a sharp move down but, what goes down must go up at some point, and even though a lot of factors are pointing into the fact that gold is changing trend right now, technically, we're still in an uptrend, so price should obey to signals going that way. I'm going into this trade because it follows my trading plan, this isn't a matter of belief. I'm not sure what the outcome will be, and it might hit SL, but, the thing I know is that it doesn't matter. The simple reason being that, I have enought evidences in favor of taking a position, and, if I respect this rule everytime, then my outocme will be positive on the long run, so, doesn't matter if I'm right or wrong on this one, it matters if I respect my trading plan, and trade according to it. Plan the Trade, Trade the Plan!!! This was the last analysis for this week, I'm wishing everybody sucess for this trading week, and don't hesitate to leave your comments and opinions about my ideas, any income is more than welcome! Cheers everyone!
FOREXCOM:XAUUSDLong
by aemerydufoug
3
Price Action Candlesticks Cheatsheet — The Best Patterns!These different price action patterns are great for various situations. They can be identified at a Lower time frame or Higher timeframe, pick a chart and start looking at the candles! If you identify any of these in a chart you are looking at today, feel free to share them below. Here is a little more about bullish and bearish candlesticks: Bullish and bearish candlesticks represent opposite market sentiments in technical analysis. They are used to identify the buying and selling pressure in a financial market, and help traders to predict the direction of price movement. A bullish candlestick is represented by a green or white candlestick that has a long body and a short wick or no wick. A long green or white body indicates that the closing price of the asset is higher than the opening price. It signifies that buyers are in control and that there is bullish sentiment in the market. The longer the body of the candle, the more significant the bullish sentiment. On the other hand, a bearish candlestick is represented by a red or black candlestick that has a long body and a short wick or no wick. A long red or black body indicates that the closing price of the asset is lower than the opening price. It signifies that sellers are in control and that there is bearish sentiment in the market. The longer the body of the candle, the more significant the bearish sentiment. Traders use bullish and bearish candlesticks to identify trend reversals, support and resistance levels, and to confirm other technical indicators. When a bullish candlestick pattern appears after a series of bearish candlesticks, it may indicate a potential reversal of the trend. Conversely, when a bearish candlestick pattern appears after a series of bullish candlesticks, it may indicate a potential reversal of the trend. No single candlestick should be used to make trading decisions, and traders should always consider other technical indicators and fundamental analysis before making any trading decisions.
BITSTAMP:BTCUSDEducation
by Tradingstrategyguides
AAPL - Will support @ 128 hold?AAPL had been the most resilient among the FAANG stocks despite being in a volatile and toppish pattern for months. However it started to break below major neckline support @ 134 on 19th Dec and then an attempt to break the horizontal support @ 128. It managed to close the month with a weekly bullish pin bar above 128 and a potential bullish divergance is also forming between price and RSI on the weekly chart. Hence a near term bounce could happen but any bounce right now is best viewed with a grain of salt until we can see change in the chart structure Any close below 128 is potential for the bear trend to continue towards 110-115. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:AAPL
by Juliac
2
GUIDE TO JAPANESE CANDLESHello everyone! Today we will discuss JAPANESE CANDLES! Let's try to understand what they mean and how to use this information in your trading. LET'S GO! Bullish and Bearish PIN BAR A bullish pin bar is a candle with a long shadow, the body of which is located at the top of the candle. Such a candle was formed under the pressure of sellers who were able to push the price down, after which buyers turned on, who pushed the price above the opening and were able to gain a foothold there. This strength of buyers signals to us that sellers are losing dominance in the market and a trend reversal is possible soon. A bearish pin bar has a mirror structure relative to a bullish pin bar. Buyers can't keep the price high, and sellers take up the trend. At these points, we can expect the early completion of the previous impulse and a possible trend change. Bullish and bearish harami Bullish harami consists of two candles: the first is a long full-bodied candle, the second is small with a small body. After a strong downward impulse (the first candle), a sharp reversal begins (the second candle). At the same time, the second candle often opens with a gep. The momentum of the first candle is the last spurt of the market, after which buyers take over the market. The gap in the opening of the second candle and the closing of the first confirms the strength of buyers. Bear harami has a similar structure, but a mirror movement. The last impulse of buyers, was replaced by the gep of sellers. This sign indicates a possible reversal. Bottom and top tweezers These Japanese candles are characterized by two long full-bodied candles. After the first strong impulse, there is a sharp reversal in the opposite direction. This reversal has a huge force, as it is able not only to turn the price against the main trend, but will immediately gain a foothold low. This figure is called tweezers, as the price pierces the level and abruptly returns back. A very strong signal for a reversal. Conclusion These patterns are very popular and useful. The ability to use them correctly in trading can bring significant profits. These patterns help to determine the price reversal, which contributes to a better entry into the position. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDEducation
by Lingrid
12
Trade Ascending Parallel Channel With 3 Points + Pivot PointTrade Ascending Parallel Channel With 3 Points + Pivot Point Indicator Connect your three points using the parallel channel. First, connect two points which are your higher lows. Next, connect the third point which is the swing high. The swing high is the higher high. In this example, a pin bar formed at the higher low. Pin Bar wick touches pivot point level and channel support level. Volume Indicator is "green" and pin bar is "white." Conditions are great to enter the market at pin bar closing price.
Education
by TradeLive-
GOOG - Tide could be turningGOOG's monthly chart formed a bullish divergence and closed with a bullish "pin bar" in November. We are likely to see more upside momentum for this month, although it could pause and consolidate when it hits the near term horizontal resistence around 104-105, then may (or may not) dip back towards 93 (recently pivot low), before eventually breaking higher. Immediately support is currently at 93. Turn cautious if it dips below here. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:GOOGLong
by Juliac
1