Crude Oil moved higher last week following
a small pin bar at 60.15 support last Wednesday, a scenario that we were looking for in our March 12th crude oil discussion.
The only benefit to a relatively
small pin bar is a tighter stop loss.
You said others traders would have gotten stopped out at
the small pin bar.
Note
the small pin bar on August 7th of 2013, the pin bar and subsequent powerful bullish move from it told us that this $ 1277.00 level was an event area to keep our eyes on if price re-tested it in the future.
3: This was
a smaller pin bar but it was showing rejection of a solid resistance level and after the huge run higher that had just occurred it would have been a price action sell signal many traders would have taken.
Not exact matches
The actual
pin bar itself is a
bar with a long upper or lower «tail», «wick» or «shadow» and a much
smaller «body» or «real body», you can find
pin bars on any stripped - down, «naked»
bar chart or candlestick chart.
The
pin bar is simply a
bar with a long tail and a very
small body, preferably the
bar should close in the direction opposite to the tail, meaning if you are going long you want the close higher than the open and if you are shorting you want the close lower than the open.
Step 4: Hot glue the
small hole of flower to secure it, and then using extra glue, press on the
bar pin into the back of the flower.
Note that this was not exactly the best
pin bar signal because it was a bit
small and its tail didn't really protrude out from the surrounding price action.
Due to the
smaller size of this
pin bar you had the potential for a quick profit of 2 to 3 times risk since the stop loss required was relatively
small.
The actual
pin bar itself is a
bar with a long upper or lower «tail», «wick» or «shadow» and a much
smaller «body» or «real body», you can find
pin bars on any stripped - down, «naked»
bar chart or candlestick chart.
The Pinocchio strategy is called such because it looks at candles which have
small bodies and very large wicks; these are called Pinocchio or
Pin Bars.
The
pin bar is simply a
bar with a long tail and a very
small body, preferably the
bar should close in the direction opposite to the tail, meaning if you are going long you want the close higher than the open and if you are shorting you want the close lower than the open.
For example, a
pin bar signal with a nice long tail and
small real body is usually a «safer»
pin bar to consider than one that's «on the fence» between being a
pin bar and not being a
pin bar.
If you read last week's USDJPY commentary, you may recall my comment about the relatively
small size of the
pin bar.
Sometimes a
pin bar set up fail because it did not meet its full characteristics such as a long tail and a nose as well as the
small body.entry at the 50 % of the
pin bar or pending order below the nose
The specific type of
pin bar candlestick that you should look for is one with a long tail and a
small body.
I have a
small doubt as I do only trend trading using
pin bar for price rejection, apart from
pin bar are there any other rejecting price action
The number one characteristic of a
Pin Bar is that it has a
small body followed by a large shadow or wick.
A Pinocchio
bar (aka
Pin bar) had a long wick (nose) and a
small body.
It is a
small executable, which you have to
pin to your task
bar like any other program.
AnandTech notes that Edge has also added two other
small but useful features: the ability to
pin tabs so they take up less room on the tab
bar and a «paste and go» option in the address
bar to quickly navigate to a URL stored in your clipboard.