What is a pin bar candlestick pattern?

A pin bar candlestick pattern visually shows when price reverses in a time frame back near its starting point. A pin bar candle has a long tail or wick and a small body. The body of a pin bar candle should much smaller than the size of the wick.

Are bullish pin bar and hammer candlesticks the same?

Visually, the Bullish Pin Bar and the Hammer candlesticks are the same. And the direction of prices is also the same. Bearish Pin Bar has a similar pattern to a Shooting Star candlestick. When looking at the price action of these 2 candles, there is not much difference.

How do you know if a pin bar candle is bearish?

As mentioned earlier, the pin bar has a small body with a long upper or lower wick. In its bearish version, the pattern becomes valid when the pin bar candlestick appears between the bullish and the bearish candles, meaning the first candle is bullish, the middle candle is the pin bar candle, and the last candle is bearish.

What does a Japanese candlestick look like?

When entering the financial market, the first thing you see is the Japanese candlestick chart. 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.