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Friday, March 19, 2021

Bullish Pin Bar Set Up (What Is It?)

Bullish Pin Bar Set Up (What Is It?)


In a bullish pin bar reversal setup, the pin bar’s tail points down because it shows rejection of lower prices or a level of support. This setup very often leads to a rise in price.

On a bullish pin bar formation, we will typically buy on a break of the high of the pin bar and set our stop loss below the low of the tail of the pin bar . You can use a stop entry order to enter on a break of the pin bar high (or low of bearish pin bar setup).

Trading Pin Bar Signals with Support and Resistance Confirmation, is perhaps one of the most effective ways to trade Forex, if not thee most effective way to trade. Pin bars are one of the most valuable tools that price action traders have in their Forex trading arsenal. They often form at major market turning points, correction levels, or within a trend as continuation signals. When combined with a strong support or resistance level , pin bars can be one of the most accurate trading signals available. The best pin bar setups occur near confluent levels of previous price action as the market moves in one direction and then regresses back to re-test a previous support or resistance level .

Trader’s can design a highly profitable trading method entirely around pin bars if they so desire. The more confluence added to a pin bar formation the more accurate it becomes. Any pin bar candlestick set up on hourly or higher time frames that have formed at a previous support/resistance level with the up trend and also at a Fibonacci 50% retrace level. The more confluence you can combine with a pin bar signal the higher its accuracy becomes.

This is one of the most powerful trading set ups you can learn and/or profit from, especially on higher time frames of hourly to monthly. Pin bars work on all time frames but are especially powerful on the 1 hour, 4 hour and daily chart time frames. It is possible to make consistent profits by only trading the pin bar formation. Good Luck

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