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Thread: pin bar price action strategy

  1. #1
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    pin bar price action strategy

    The best strategy of trading forex could be actively achieved by the basic understanding of the price action of the market without the need of those majro indicators that sometimes might lead us astray. All the indicators out there all base their techniques on price action of the market.
    so coming back to the topic of the day.
    pin bar price action confirmation
    Attachment 15654Attachment 15654
    with perfect support and resistance line drawn it can easily be pin pointed a point of retracement with the help of a pin bar price action

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  2. #971
    Trader Lyon's Avatar
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    Quote Originally Posted by pajero View Post
    pin bars can indeed appear anywhere, under, above or in the middle of a trend, and all of that can be valid in form. Therefore we cannot use this pinbar stand alone, it must be combined with other indicators or tools to filter out the false signals that appear, because not all of us can use pinbar for transactions
    The when it does appear anywhere in the chart, I think it will be wise for the trader not just to take the trade but to make sure that they have it appear at the right place, personally for me, the right place where I think it should appear should be on the trend, when there is a trend and also which is the same on the daily time frame, then I get to have some good confirmations.

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  3. #972
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    Quote Originally Posted by pajero View Post
    pin bars can indeed appear anywhere, under, above or in the middle of a trend, and all of that can be valid in form. Therefore we cannot use this pinbar stand alone, it must be combined with other indicators or tools to filter out the false signals that appear, because not all of us can use pinbar for transactions
    I like the pin bar strategy, It is not scarce on the chart, it is ever present since the market will always want to reverse its trend. When traders are more specific with the trading of the pin bar, they could use it on the 4 hour chart, daily and weekly chart as well. They are all that are making sure that good income comes out of the pattern of the pin bar when they are trading it rightly.

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  4. #973
    Trader Senorita's Avatar
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    With knowledge about the pin bar there is a high level opportunity to realize good signal traders can follow with the best intentions to manage risk and see that profits can be well made. Price action trading is important and its one possible way for us to realize strong signal that would go as far as giving us good profits. As a trader we should realize that good trading is important and pin bar can create opportunities for reversal signal.

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  5. #974
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    By understanding the price action trading we get to know about some of the best candle stick tools that can be used in the market, Pin bar trading strategy come in two types and we can have the bullish and bearish signal then on the other hand for us to be able to make money from the market then we need to learn the use of either trend supporting pin bar or reversal support pin bar.

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  6. #975
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    There are different people that have places emphasis on the pin bar, but I don't believe that trading only pin bar is what we need to become profitable in this market, there are many limitations that we can face because we use this candlestick, some traders don't even know how to filter their trades with this candlestick, hence they lose money consistently and complain at the end of the day.

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  7. #976
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by Leonvic View Post
    There are different people that have places emphasis on the pin bar, but I don't believe that trading only pin bar is what we need to become profitable in this market, there are many limitations that we can face because we use this candlestick, some traders don't even know how to filter their trades with this candlestick, hence they lose money consistently and complain at the end of the day.
    I do believe on candlestick patterns accuracy but analyzing market has universal methods which can be done by various strategies and tools. Saying that pin bar is the only pattern we can use to trade and earn profit is a wrong attitude to have because traders must be flexible to understand many methods that supporting their core experience to analyze market. Please understand that this Forex trading is not all about candlestick because there are lots of choice we can pick to trade this with our best comfort.

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  8. #977
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    My early experience as a trader and a beginner was using pinbar candle as a signal in taking trade mostly to buy. Whenever I see the pinbar candle there is 90 percent possibility that the accompanying candle will be strong. In a bullish market a signal for buy is seeing 2 - 3 pinbar candles this an Indicator that the bullish will still continue.

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  9. #978
    Trader pajero's Avatar
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    Pin Bars often occur in various timeframes that you use, but that does not mean that all Pin Bars can be used as a signal. If you are desperate to use all the Pin Bars that occur on all timeframes, it is certain that you will eventually lose money. For this reason, it is very important for us to filter which Pin Bar gives the best profit probability.

    To increase the chances of success, we take the Pin Bar that occurs in the Daily timeframe (occasionally using a 4 hour timeframe). That is, all those under the 4 hour timeframe will reduce the accuracy of the signal obtained.

    To further increase the accuracy of this Pin Bar trading strategy, you should use this Pin Bar when it is formed in the area of ​​support / resistance on the daily chart.

    The dominant support / resistance level is in the daily and weekly timeframes, which are usually the turning points of price movements. This combination of support / resistance and the extraordinary Pin Bar trading strategy can increase your chances of success.

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  10. #979
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    Well, not only the price action traders are entitled to trade with the use of the price action trading method, every one in the market can make use of the price action trading method, in as much as they have what it takes and then they have really learned. The fact is that pin bar it's self is a good candlestick pattern, so any one who wants to use it in trading should really develop their strategy in more adequate manner.

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  11. #980
    Trader cutiekc's Avatar
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    Pin bar is one of the candlestick pattern, it is so much profitable as well, but depending on how the trader takes it, in such a way that the trader should know that the pin bar that is been taken in the higher time frame is the best, for me, that is what I have been doing and also using the support and resistance levels in determining the level which I should take my trades, so we should be selective.

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