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Pin Bar

SPX Imminent retest of channel support: Rejection from ATHCompare to 6/14 Harami cross. Identical price behavior 8/21-23 c/w 6/12-14 and 8/7-9. Slapped down hard from high channel retest after 8/21 high. All the Doji have been seen- pin bar, shooting stars, Harami crosses, engulfing bears, Red Shooting star today. Perfect setup for lower and soon- imminent. Today I observed a bear flag all afternoon following the sharp intraday correction on 15m charts. Daily chart on 8/23 looks eerily similar to annual chart, past six months! Expect a harder test than last time. Probably at least to 2791 as shown in graph, maybe lower; WS2 at ~2777. Gonna be a choppy week. We have convergence of twin C waves bearing down from 08 Feb and 27 Jun A wave downspikes, rolling together now will bear down hard. Batten down the hatches- good luck! This isn't investement advice and I ain't no advisor. This post for amusement and education only. Enjoy!
SP:SPXShort
by DaddySawbucks
3
XLU - Anatomy of a winning trade (reading the price action)In this video I analyze a live trade that I have been in for a few days now. I discuss how I was able to use price action to point out "red-flags" where it looked like price might turn against me. By acting on the price action I was able to get out just before a large drop and then get back in, almost where my trade originally started, but with a better cost basis as I had already locked in profits. This essentially is giving me a free trade where the worst I could do is make a small profit, or best case is ride this out to a full profit.
AMEX:XLULong
by krugman87
9
TSLA - (Short Premium) Call premium is rich right nowThere is call skew in TSLA right now which makes call selling more profitable than put selling. I am going to take advantage of the high IV and the call skew by selling premium on the call side. In addition there are 2 long tailed bearish candles, one of them being a bearish pinbar, which could signal weakness in the short term. Keep in mind these bearish candles come off of a very large bullish candlestick so I don't expect this to be a reversal, but I do believe we could see a small pullback to the 320 area. If that occurs we may also sell naked puts at that point to turn the trade into a strangle.
NASDAQ:TSLA
by krugman87
2
DOW / DIA / YM - Bullish pinbar setting up for a blastoffA bullish pinbar formed yesterday in the daily candlestick chart. This pinbar occurred from a small pullback, off of near term support. Bullish pinbars are patterns that show a false break lower, where there are now traders to went short as it dropped, but when price got pulled back up those traders are now trapped in losing positions. This signals a market that wants to go higher, and potentially a large amount of shorts that will really start becoming squeezed if price marches higher. Short traders that begin escaping losing positions are what fuels the aggressive move higher. Regardless of the quality of this setup and it's higher than 50/50 probability of success, traders should still exercise normal risk management. That means to risk a reasonable amount that will not cause major damage to your account balance if it does not work out. Remember, trading is a marathon not a sprint, so trade accordingly.
CBOT_MINI:YM1!Long
by krugman87
2
EURUSD - Bearish pinbar is forming off of bearish pennantA major sell signal is potentially forming in the EURUSD -0.02% . A large bearish pennant has formed and a bearish pinbar is currently forming off of the top of this pattern. The pennant pattern is giving us our bias and the candlestick pattern is giving us our entry signal. If the daily candle closes bearishly then this could be a tradeable setup. I will update my analysis after candle close. **Market Structure** -A bearish pennant format has been building since June -A major selloff lead into the pennant pattern which give this set an even greater bearish bias -A bearish pinbar is forming on the daily chart from the top of the pennant channel. This is create a major confluence of sell signals **Trading Tips** -If the daily candle closes as a bearish pinbar we may see price crash hard in the coming days -Whenever a bearish price action candlestick forms off of the top of a bearish pattern it creates the most optimal risk/reward setups -DO NOT JUMP THE GUN, WAIT FOR THE DAILY CANDLE TO CLOSE **Trade Ideas** -If the daily candle closes as a bearish pinbar a short entry can be made multiple ways, with varying risk/reward profiles. On the Forex markets a trader could wait for a break of the bottom of the and then enter short, or for a more risky but better Risk/Reward profile a trader could enter short if price retraces back up the pinbar , or a combination of both for a hybrid trade. -Another way to trade this is by selling a call on the futures market (ticker /6E). This would allow a trader to profit from a drop and also collect premium in case price moves sideways and does not aggressively drop as expected. -Finally the ETF FXE -0.07% could be traded as either outright stock or a synthetic short position could be created using the stock options.
by krugman87
OIL / CL - Large bullish weekly candle - Get ready for blastoff!This video discussed the large bullish weekly pinbar setup that has formed in light crude. I discussed the current market structure, trading tips and trade ideas. Notes from the video are posted below. **Current Market Structure** -Long term bullish trend -Price has stayed within bullish channel -Large bullish weekly candle from pullback off of key support **Trading Tips** -Chances are higher now that price makes a string bullish run up to $75 and may even make a quick run to 80. -Keep in mind that oil is generally a volatile product and large out-sized moves are common. -This can be traded as pure directional using either futures, CFDs, or ETFs(with oil exposure), but due to the high IV I am looking to get both directional and short premium, which can be done by selling puts. -Either enter on a retracement around $69 (more risky) or a break above the weekly candle around $71.25(less risky) -Price targets are $75 and $80 **Trade Ideas** -Sold a put w/ $61.50 strike(15 delta, 30 DTE) when price was at $67 -Rolled that put up to $64 strike(17 delta, 27 DTE) when price was at $69 -Now that we have a price action signal I am considering rolling up to a 30 delta option($66) to get more directional -Keep in mind that September light crude is at 68.14, $2 below spot price
NYMEX:CL1!Long
by krugman87
28
BTCUSD: Bearish Pin Bar Points To Retrace Back To 7K.BTCUSD update: Price action is fluctuating around the 7381 resistance level. With a bearish pin bar present, this formation points more toward selling in the near term. If the minor weakness persists, the next buying opportunity may be around the 7K level. BTC continues to lead the way. What is interesting is other markets like ETH may present obvious buy signals, but we suspect they will not follow through without the cooperation of this market. 7381 is the .382 of the recent bearish structure relative to the 9990 high. The attempt to clear this level has resulted in a bearish pin bar and indecisive price action. The longs that are getting sucked into this area are the ones who will fuel the selling of the anticipated retrace. Earlier on S.C., we issued a buy order on ETH that aims to capitalize this possible BTC retrace. We anticipate supportive price patterns around the 7K psychological area. In summary, this market is still in the process of building the structure that can lead to a broader movement higher. Our recent Elliott Wave update revealed that if the underlying sentiment stays intact, reaching 10K+ in a month is within reason. During this time, any tests of support, especially at extreme levels will offer the highest probability opportunities. It is all a matter of patience.
BITFINEX:BTCUSD
by MarcPMarkets
36
Long bearish bar and bearish pin bar at trend line.Signal bar - Long bearish bar and bearish pin bar at trend line. Trend - Major trend is down and recent bars in range Strength - Prices are struggling to move Level - Expecting previous strong support will become a strong resistance considering bearish bar breakout and 2nd entry (2 leg pullback) - there are 2 long legs tring to go high but failed. Breakout pullback - NA EMA - prices are forming right at EMA and already there is bearish bar with long wick rejecting EMA. Reversal - NA DT/DB - NA Shadows - NA Congestion - has formed congestion and expecting it will breakout in the direction of the trend. 50% Retrenchment - Big Picture - Prices trying to go higher but struggling. Strong bearish bar with congestion has formed a flag. Entry - SL seems to be safe above swing. Expecting prices will rush down after touching slow EMA.
by Yadnesh88
GBPUSD Shor- Broke, Retraced, Resisted again by Rising TrendlineFirst, take a look at the Daily chart. It is clearly going on a downtrend and based on the candlestick formed yesterday, a long upper shadow pin bar, the price is most likely to fall further. So back to the chart, we see that the price has already begun to fall since it broke below a rising trendline. The price retraced, touched and shown resistance at the previously broken rising trendline again and fell. Wait for the price to retrace a little further into the sell zone and look for reversal candle for a sell. P.S. Do take note of important GBP news at 4:30pm.
Short
by AlgoVenture
Citi (C) bullish butterfly pattern and daily hammer!The banks showed significant relative weakness against the market since 2018. While, with regard to the rate hike cycle, put some banks in the portfolio is still one of the major investing ideas. Therefore, this daily bullish butterfly pattern and the daily hammer combination may be a short-term set-up to long C! Without abundant EMA correction rooms, I won't prefer trading the hammer with the breakout strategy; on the other hand, the 50% or 0.618 pullback buy and put the out below 62.80 would be the trade for me! Let's see how it goes!
NYSE:CLong
by Trader_Joe_Lee
ETHUSD: Sell Trigger Can Lead To Test Of 440 Support.ETHUSD update: 482 pin bar low has been taken out which is a sell trigger according to our perspective at S.C. The lower high off the 494 to 518 minor resistance zone is the reason why we were not interested in any swing trade longs. The coming retrace will serve as an important test of the recent strength that has appeared in these markets. Price is near the newly established bullish trend line after breaking 482. If price continues to push lower, the next level we will be watching for is the 440 area. This is a minor bullish reversal zone boundary (not on chart for sake of simplicity). IF a bullish pin bar appears around the 440 level or around 423, we will be looking for a swing trade long trigger. A sell signal like the one that just appeared is good for locking in some profit if you managed to buy at lower prices. Since we do not short these markets, shorting is not a possibility within the scope of our strategies. We are also holding inventory in BTC and other coins and will not sell any during the next retrace. The long term probability that these markets climb out of these lows is just beginning. With the amount of long term potential baked into these markets, there is no reason to lighten up on our positions at these levels, even in the face of a sell trigger. In summary, as I wrote earlier in my S.C. report, it is important to have a detailed process the defines every part of your decision making. We separate our strategies by time frame and define our decision making criteria from there. That type of organization is what serves as the most effective guide during conflicting signals such as a sell trigger within a slow grind recovery. At S.C., we look at these markets through the lense of a position trader and swing trader simultaneously. If this market retraces back to extrme prices like the 390s, we will be looking to accumulate more. If price instead forms a broader higher low, we will be looking for the swing trade long. Either way, we have a predetermined plan for what the market decides, not what we "predict" it will do. Check S.C. for trade ideas because that is where we share them with our followers.
BITFINEX:ETHUSD
by MarcPMarkets
6
PIN BAR LESSONThe pin bar price action reversal pattern shows that the particular price level was rejected. The indicated bars are a good representation of a pin bar formation. As you already should be aware that although we have all this information, the market still may not obey the rules we set, so at the red highlighted candle, it wasnt a succesful pinbar. Here is how you spot / identify a pinbar : Short Nose Small Body than the entire candle Long Tail/Shadow/Wick The lengthy tail should be showing you the rejected price action direction, meaning your next action will be the opposite of the direction of the lengthy tail.
Education
by TheGreatestMarketAnalyst