What does a pin bar Candlestick look like?

It has distinct shapes that reflect the price action of the market. And among them is a very different candlestick that looks like a pin – Pin Bar. Pin Bar is a candle shaped like a pin with an outstanding long shadow and small body. What is Pin Bar candlestick? – Tail (aka wick or shadow): The Pin Bar is a candle with a long upper or lower tail.

How to trade with a pin bar candle?

Currently, the methods of trading using Pin Bar are very diverse. Depending on the view of each trader about the market, they can apply appropriate strategies to improve efficiency. You can open options with Pin Bar candles individually or combine them with trend indicators such as SMA, Alligator, etc., to improve accuracy.

What is a pin bar?

The pin bar is a single candlestick pattern having a long wick and a small body that helps traders find entry and exit levels. Interestingly, the pin bar is short for Pinocchio Bar. Martin J. Pring, an expert technical analyst, was the first to name the pattern pin bar.

What happens if a pin bar Candlestick is invalidated?

A trader would have placed a buy-stop at $65.47. If the bearish set-up was invalidated, the trade will then be initiated. As mentioned above, the pin bar candlestick is usually a reversal sign. As a result, when it forms, it usually sends a sign that the asset will move in the opposite direction.