Get started

Pin Bar

Bitcoin: Bullish Pin Bar! Why Not Buy?Bitcoin update: Even in the face of a bullish pin bar, it is still reasonable to say that this market is going no where fast. Candle stick formations are random and what gives them any analytical value is WHERE they appear. Since our swing trade exit at 4125, we have been PATIENTLY WAITING for a setup that offers attractive reward/risk. The typical trader craves action, but the market does not care what the typical trader wants. Good marketers know this and capitalize on this characteristic of human nature and they will write or say ANYTHING to capture attention (which is what they effectively monetize). The best information that you can get is on your chart, but it may not be as exciting as the marketer leads you to believe. REALITY or the truth is often what the crowd does NOT want to hear because it is boring and uneventful. And the reality about Bitcoin is it goes into slow grind periods for weeks at a time, followed by some large movement which gets the herd all excited again. The key to navigating this type of environment is to pay the MOST attention when the market is not only quiet, but also in an attractive location. Is Bitcoin in an attractive location to buy at the moment? In my opinion NO. The high 3800's to the 4100 area is a broader resistance zone. Sure, price may grind through it, BUT the risk is NOT worth the potential rewards at this point. Beyond the reward/risk we also consider the "personality" of this market in such a location. Fake outs and lack of follow through are more likely because Bitcoin is NOT in a strongly trending environment. Recent structure continues to offer plenty of clues that hint toward a range bound market. And in ranges, buying near highs (especially out of boredom) is not a productive behavior over the long run. Overall, we want to see price test and develop a setup around the 3500 - 3600 area or the 3300 area. Those levels are at least closer to the range lows and are much more attractive in terms of risk compared to where price is now. Keep in mind that there is also a potential bearish pennant developing. It is too early to make any judgements, but the appearance of the positive sloping converging trend lines serves as another reason to WAIT for a better situation when it comes to taking a swing trade long. In summary, it is better to look for all the reasons to stay out of a trade than it is to find every reason to be in. Eventually you will run out of reasons to be out and that is usually when the rare and high quality opportunity surfaces. There is no reason to get excited over a couple of pin bars, especially when the location is NOT favorable. Think less about profit and more about probability. That is how to effectively navigate an environment that is filled with constant uncertainty. We will continue to WAIT for a better price area before initiating another swing trade long. We don't hunger for action, instead we embrace reality and WAIT until the market meets our criteria. WAITING is what generates the profits over the long run, NOT chasing.
BITSTAMP:BTCUSD
by MarcPMarkets
7
EURNZD Bulls Taking Charge!Analysis -EURNZD looking bullish after showing signs of reversal. Sellers pushed price down into support but buyers brought it back up above support before the daily candle close. -The price action resulted in a pinbar setup AT SUPPORT which is a bullish sign. -On the 1H time frame, price just broke a bearish trendline to the upside. -There is also bullish RSI divergence on the 1H time frame which further eludes to price possibly moving higher in the coming days. -The reward/risk is good for the setup (given the distance between daily S/R levels) Entry, Stops and Targets -Long Entry: 1.6471 (Enter long after price pulls back, never chase a trade) -Stop Loss: 1.6404 (Set stop below the daily reversal candle) -Take Profit: 1.6605 (Set target at a minimum of 2 times your stop depending on entry) = 2R *Trade Safe and at your own discretion!*
Long
by Mankz
USD/JPY - Intraday long set-upWe can see that the price on the daily chart has tested EMA 50(HIGH), EMA 100 & 200 too. These could be big supports for the USDJPY pair. It is testing another monthly support (all red horizontal lines). The next demand zone might be at the bullish trendline, where we need to see a confirmation at least on 4H chart. It looks like there could be a pin-bar on the four hour timeframe, which should be our bullish confirmation for the intraday set-up. There are EMA’s, monthly support, bullish trendline and maybe a bullish pin-bar on the 4H chart. There are all strong arguments for a LONG position. For the SL and TP targets, look into the comments below. ENTRY: After pin-bar confirmation (around 111.110-150) TP: 0.5 Fibonacci retracement at 111.550 (or in the area of 111.370-111.550) SL: Below the pin-bar at 110.920
Long
by SlovakTrading
USD / DXY - Bullish Weekly Pin Bar SignalThe US Dollar formed a very bullish candlestick pattern last week. The pattern was a large bullish pin bar from a pullback off of a swing high. There will be an immediate test of resistance at the 97.00 level and if that is to break we could see it quickly rise up to the 99.50 - 100.00 level before meeting for serious resistance. I wouldn't be shorting the dollar right now, but for those who are long I would use these levels 97 and 99.50 as areas for trade management. I am currently short the EURUSD.
TVC:DXYLong
by krugman87
AUDCAD - Monthly - Multi-Timeframe Analysis Series 1Introduction I'm starting a new multi-timeframe analysis series and using TradingView to document it. Objective The main objective of this multi-timeframe analysis series is to bring together the knowledge I have gained over the 4+ years of trading, and encourage me to consciously use that knowledge rather than working out of habit and 'instinct' which is so easy to do. I also hope that anyone who chooses to read these series will gain some useful knowledge. Please feel free to share your opinions with me in the comments, but please remember that my opinion may differ from yours. If I've learned anything, it's that 2 opinions or biases can co-exist and both play out to be successful. I hope you enjoy --- Comments I've identified the Monthly timeframe to be trading nicely within a range between 0.9200 - 1.0250. This means any moving averages cannot be considered for 'trend bias' on this timeframe, only to be considered as obstacles for things such as entries and exits (profit taking) during the move between the range. After a bullish low test reversal candle at the bottom of the range, price rallied up to the Monthly 50 EMA where it acted as dynamic resistance, and has since retraced down to the 61.8% fib retracement (which coincides with the high of the signal candle). At this level we've got a Monthly Inside Bar, which is a sign of indecision. Key Note Think in terms of crowd psychology when it comes to things such as the Monthly 50 EMA in this example. Traders will be taking profit there as well as short seller placing orders.
by robdee4x
SI XAGUSD Silver - Bullish Inside Bar Fake Out**Keep in mind that the daily candle is not yet closed. This pattern is not officially in place until today's candle has closed.** Silver has formed an inside bar / pin bar / fake out pattern. This is where price winds up to form an inside bar, followed by a breakout and immediate pullback into the other direction. Price will still need to break to mother candle to get things moving but so far we have the beginnings of some bullish price action that could take this market even high.
COMEX:SI1!Long
by krugman87
GC XAUUSD GOLD - Gold continues uber bullishness with pin barAfter an already impressive few months, gold doesn't look like it is ready to have a more meaningful pullback just yet. This morning a large pin bar formed as price broke below horizontal and trend line support and then immediately popped back up. In candlestick analysis, these are fake-outs that we look for to fuel moves in the future. As price broke below support levels, bearish market participants shorted, just before price was pulled back above support. These shorts are now stuck in losing positions and will get squeezed out if price continues higher, which will fuel the bullish move higher even more. This is the psychology behind those types of pin bars. I am long gold and silver miners. Now it is a game of watch and wait.
OANDA:XAUUSDLong
by krugman87
TURNING PRO CHALLENGE TRADING STRATEGYEURUSD - PRO CHALLENGE TRADING STRATEGY WEEKLY CHART Current Price at Weekly Sup/Res level of 1.1300 DAY CHART Previous Evening Star candle patterns created Bearish moves Watch for current Day candle to close Bearish to complete a 3rd Evening Star Pattern Previous day candle was a Bearish Pin Bar These candle patterns will confirm a Bearish continuation move short 1H CHART Add Standard Pivot Point indicator Price is returning down to Weekly S/R level and current Pivot level This created my 1st Sell Take Profit zone where I will close 1/2 of my trade Watching for Price to break below these two support levels 2nd Sell Stop @ 1.1280 Finale Take Profit close all trades @ 1.1235 Find SL
Short
by Tradingstrategyguides
Diferença entra Pinbats / How to get the good pinbarVamos, nesse vídeo, ensinar um SetUp que venho testando já há um bom tempo e gosto muito de operar, as PinBars (como alguns autores chamam) Tenho adaptado alguns alvos para diferentes tipos de pinbars e de acordo com a tendência. Nesse vídeo vamos diferenciar duas pinbars alinhadas ao Estocástico Lento (configurar de acordo com seu Time-Frame para refinar encontrar bem os topos e fundos) e cravando o alvo correto. -------------- We'll show in this video a Setup that I've been testing for a long time and i'm finding very attractive to operate, the PinBars. I've adapted some targets for each type of pinbar and following Trend. In this video we'll see the difference in two pinbars, both aligned with trends and Stho and finding the best target for them.
BMFBOVESPA:WINJ2019Education
by lucas.dantas821