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Pin Bar

DXY - Bearish pattern forming off of key resistance levelA large bearish pinbar is currently forming off of a key resistance level. Keep in mind that there are a few hours left in the market so this pattern will not be confirmed until it has fully formed as a bearish pinbar and today's candle has officially closed. If the candle does close the day as a bearish pinbar then we could see price rotate lower over the next few weeks. If the candle closes as a bullish candlestick, there is still opportunity for a new bearish pattern to form but we could see price rotate even higher towards the 97 range. How today's candlestick finishes forming will tell us a lot.
TVC:DXYShort
by krugman87
Education post 1/100 - How to trade pin bars?The Pin Bar Setup I bet you have seen many pin bars on your Forex charts. Maybe you haven’t been aware that you are looking at a pin bar formation, but you most likely have come across this candle on the chart Bullish Pin Bar A valid, tradeable bullish pin bar is located at the end of a bearish trend and its lower candle wick goes below the overall price action. If you spot a bullish pin bar setup on the chart, this will setup a nice opportunity for a long position. Bearish Pin Bar The same is true for bearish pin bars but in the opposite direction. The bearish pin bar is located at the end of a bullish trend and its longer candle wick is the upper area. In this manner, the longer wick is sticking out above the price action. The bearish pin bar is usually a good sign of an upcoming price reversal in the bearish direction.
Education
by GroundStoneHoldings
USDCHF Long SetupAnalysis 1. USDCHF daily candle closed as a pinbar at support (Rejection of lower price intraday) 2. Stoch/RSI showing bullish divergence as price is making lower lows which is implying weakening of sellers 3. Stoch/RSI coming out of "oversold" areas on daily chart Trigger Set pending buy stop on the break of the pinbar candle's highs Trade -Set stops below the lows of the pinbar candle and targets around 0.9700 to 0.9720. -A solid 1:2 risk to reward ratio could be achieved as targets fall within the range.
Long
by Mankz
BA bearish butterfly and daily shooting star combinationFirst of all, I don't really want to short this name. But this trade is too good to ignore, a harmonic pattern and daily shooting star combination! I won't take the trade as I don't have other conviction to short Boeing at all, but I would very like to record this trade down and see how it goes yo! Still, this is a better sign for the bulls to take some profit rather than for the bears to create short positions. Let's see how it goes!
NYSE:BA
by Trader_Joe_Lee
EURAUD SHORTAnalysis -EURAUD at yearly highs. -Bearish pinbar reversal closed on daily at resistance. -All oscillating indicators are in overbought territory. (Candlestick patterns or price always precedes the curl back of oscillators from overbought or oversold conditions to normal conditions) Trigger Set pending sell stops on the break of the pinbar candle's lows. Trade Set stops above the highs of the pinbar and targets around 1.61 since price is likely to retest that level (previous resistance = support) *Highest resistance shown is due to price rejection/range bound at that level from Sep 2015 to Mar 2016
Short
by Mankz
NZDCAD LongAnalysis 1. Bullish pinbar reversal closed on daily at support. 2. Price at bottom of descending channel 3. NZDCAD at yearly highs. 4. Descending wedge ( bullish ) within channel 5. All oscillating indicators are in oversold territory. ( Candlestick patterns or price always precedes the curl back of oscillators from overbought or oversold conditions to normal conditions ) Trigger Set pending sell stops on the break of the pinbar candle's highs. Trade Set stops below the lows of the pinbar and targets around 0.865 since price has a chance to stall at that level. Monitor lower time frames and see if momentum warrants extending targets.
Long
by Mankz
4
EURNZD - Short from daily pinbarAnother overbought market with a pinbar off the daily on the 5th of september, Reaching a new high for 2018 at 1.77340 with a sharp retracement leaving the day to close below 1.765. The rest of the week pulled back up slowly with the highest high on friday of 1.77120 still approx 20 pips below the 2018 high, closing our end of the week Friday just below resistance at 1.76886. With week bullish pressure and supporting order flow on the 4hr to expect a bearish change, leads us to our entry of 1.76271, Stoploss at or above our yearly high for some breathing room and our take profit around a viable area ontop of price at 1.74268, Feel free to adjust the trade for your on preference, Updates will be made when necessary. We'll see how the market moves in recovery of a volatile week. Happy Trading.
Short
by Spesh_SSTGcfx
USDCHF: Consolidation is over - Middle termWe can spot, that the Double Top pattern has confirmed. The second TOP candle is bearish pin-bar, which is signalizing the reversal on the market. It pushed the USD/CHF lower. We could see the market consolidation, which lasted more then 4 months (0.98-1.006). The neckline was set at the value 0.98, which had to be broken to make the formation valid. A few days ago, it happened. Now the price a little bounced from 0.965 with candle, which looks like a bullish pin bar. It just seems like bullish pin bar (maybe market consider it, but it is not good pin-bar). Today were published the (YoY) results from Inflation 1.2 percent as expected and also (MoM-August) Inflation, where we can see a little progress at 0.0 percent versus past monthly values -0.2 percent. This are still low value and the market responded with a growth of USDCHF. If the market breaks the green resistance (0.971), the market could test the blue resistance. From a short term view, we can see RSI at really low points and MACD is near the crossing up. On Histogram we can see, the bears are getting weaker. So short term view could be bullish. But we should we aware, the market has confirmed a double top formation. We are also under all important EMA (200,100,50), so currently I don't expect a bigger move (over the EMA). From Middle term I expect breakout the red zone and test lower supports. But from short-term it can be a little bounce to the blue resistance or below the EMA. This is just my point of view, not investing advice. I'm not responsible for your losses.
by SlovakTrading
GBPJPY (Short on trend)Hello, colleagues. According to my price analysing system, there is a signal on a short at GBPJPY. Down trand is clearly seen. Price is increasing, creating pullback of down trand and it has already moved for 50% of previous movement (an extra reason to sell). As the price moves upwards it slowed down creating pins. What is more, price has breaked a bit through EMA 8-21 which I use as Dynamical: Support and resistance. To start with, I put 3 to 1 R\R, despite the potential 4to1. If the order closes at stop, I'll wait for a movement to 144.400 - 145.000 zone and look for a signal to sell there. I'm waiting for your feedback and critic.
Short
by Globe
USDCHF pin bar formed between two past resistance levelsBear pinbar formed on 2018-05-04 at market close time. This is a strong reversal signal. First case: Pending sell below resistance level of december 2017. Second case: price goes up and bounce on resistance level of November 2017. Set an alarm at that level: if price touch the level and close below, it is a signal of strong resistance so sell with TP and 0.99671. Third case: price close above resistance level of november 2017. This level will become a spport, so place a Buy out of this level, using the same alarm of case 2.
by 03.freeman
THE PIN BAR TRADING SETUP EXPLAINED :As the most liquid market in the world, Forex or foreign exchange attracts more and more retail traders. Everyone comes to the market with different expectations but aims for the same thing: to make money. Pin bar trading is a simple, yet effective trading strategy that offers excellent risk-reward ratios. What Makes a Pin Bar? Before more details, we need to explain what a candlestick is. To interpret a candlestick, traders consider the following: - opening price - closing price - the highest value - the lowest value The difference between the opening and closing prices is the body of the candle. Also known as the real body, it is bullish when the closing price is higher than the opening one, and bearish when is lower. The price action to the highest or lowest point is the shadow or the tail. For a pin bar to form, traders look at the real body to be relatively small, and the tail of the candle much longer. In fact, the longer the tail, the better. While not a general rule, savvy traders look for the following condition to happen before pin bar trading: the tail to be so long, so the real body fits at least two times. Conventional wisdom claims that a bullish pin bar must have a green body (closing price bigger than the opening one) and a bearish pin bar a red body (closing price lower than the opening price). The Pin Bar Trading Setup Explained : For a single candle, the pin bar is an impressive reversal pattern. It shows a terrible battle between bulls and bears, signalling that the previous trend weakens. Hence, for a bullish pin bar, a bearish trend must exist. And, a bullish trend is mandatory before a bearish pin bar forms. A pin bar trading strategy when it reverses a bullish trend considers the following steps: - measure the entire length of the pin bar, from the lowest to its highest point - go short when the price breaks the lowest point - place a stop loss order at the highest point in the bearish pin bar - project the length of the pin bar minimum two times below the entry point Sometimes the market reverses so aggressively after a pin bar that the pin bar trading strategy offers a greater risk-reward ratio than 1:2. To make sure they’re not missing the new trend; aggressive traders move the stop at break-even when the price reaches 1:1 rr ratio and trail parts of it as long as possible. Fibonacci Ratios with the Pin Bar Trading Setup Savvy traders have patience, and they know that any reversal pattern shows a conflict. The conflict or the battle between bulls and bears implies the market won’t reverse quickly. After a bullish trend like the one above, bulls won’t give up that easy. That’s the reason why every pin bar trading strategy needs a stop loss. However, a pullback is more than welcomed. In fact, pullbacks often happen after a bullish or bearish pin bar. Fibonacci ratios help in finding an even better risk-reward ratio. Here are the steps to follow on the same bearish pin bar setup: - measure the length of the bar, from its highest to the lowest point - use the Fibonacci Retracement tool for finding the 50% and 61.8% levels - wait for the market to reverse to the defined area - go short with a stop loss at the highs - keep the same take profit as in the original setup This way, traders stay for the same take profit, but with a lower risk. Hence, Fibonacci comes to complement the unique pin bar trading strategy by offering an even greater risk-reward ratio. Not bad for a single-candlestick pattern, right?
TVC:DXYEducation
by asdfghjhhg
1
USD - Bearish price action on the monthly chartsBearish price action is forming in the US Dollar on the higher time frame charts. On the weekly charts an evening star pattern has formed on a bearish pin bar is currently forming on the monthly. Price action next week will tell us a lot about where the dollar may be heading, but if the dollar closes the month even weaker then it is right now it could mean continued bearishness in the dollar over the next year or two. This is certainly worth keeping an eye on.
TVC:DXYShort
by krugman87
1