What is the " PIN bar " trading strategy
🧵Thread will teach you the following things.
-- What is Bullish/Bearish PIN bar
-- When to trade PIN bar
-- How to decide 🔵Entry 🟢Target 🔴Stoploss
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@kuttrapali26 @KommawarSwapnil
🧵Thread will teach you the following things.
-- What is Bullish/Bearish PIN bar
-- When to trade PIN bar
-- How to decide 🔵Entry 🟢Target 🔴Stoploss
🐦Re-tweet to share the knowledge
🔖Bookmark to save
@kuttrapali26 @KommawarSwapnil
1⃣ What is bullish/bearish PIN bar?
🟢A pin bar is basically a rejection candle
🟢It is generally used to identify a reversal
🟢A pin bar is basically a rejection candle
🟢It is generally used to identify a reversal
2⃣ How to identify a valid pin bar?
🟢It should have a long tail which can be up/down
🟢Size of the body should be small
🟢Nose should be small or else it becomes Doji candle.
🟢Tail length should be 3 times the body of candle.
🟢It should have a long tail which can be up/down
🟢Size of the body should be small
🟢Nose should be small or else it becomes Doji candle.
🟢Tail length should be 3 times the body of candle.
3⃣When to trade pin bar?
PIN bar could be traded with any setup like
1⃣ Support and Resistance
2⃣ Trendlines
3⃣ Rsi divergence
4⃣ Overbought or Oversold regions
5⃣ Fibonacci retracement
Most popularly PIN bar is used with basic support and resistance system.
PIN bar could be traded with any setup like
1⃣ Support and Resistance
2⃣ Trendlines
3⃣ Rsi divergence
4⃣ Overbought or Oversold regions
5⃣ Fibonacci retracement
Most popularly PIN bar is used with basic support and resistance system.
4⃣ How to trade Bullish PIN bar?
🟢look a good support
🟢wait for the formation of the bullish pin bar
🟢Entry(long) when the high of the pin bar is breached
🟢Stoploss = low of the pin bar
🟢Target is 1:2
🟢look a good support
🟢wait for the formation of the bullish pin bar
🟢Entry(long) when the high of the pin bar is breached
🟢Stoploss = low of the pin bar
🟢Target is 1:2
5⃣ How to trade Bearish PIN bar?
🟢look a good resistance
🟢wait for the formation of Bearish pin bar
🟢Entry(shorting) when low of pin bar is breached
🟢Stoploss = high of the pin bar
🟢Target is 1:2
🟢look a good resistance
🟢wait for the formation of Bearish pin bar
🟢Entry(shorting) when low of pin bar is breached
🟢Stoploss = high of the pin bar
🟢Target is 1:2
PIN bar is a very powerful tool in trading
⭕️I have used "pin bar finder (strict)" indicator to directly locate the pin bar on @tradingview .com
⭕️Alwasy trade pin bar in the direction of primary trend
⭕️Use daily or 1 hr time frame for swing trading
⭕️5/15 min o for intra
⭕️I have used "pin bar finder (strict)" indicator to directly locate the pin bar on @tradingview .com
⭕️Alwasy trade pin bar in the direction of primary trend
⭕️Use daily or 1 hr time frame for swing trading
⭕️5/15 min o for intra
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