order as soon as 2nd bar closes or place a pending buy stop order just 2-3 pips above the high of the 2nd candlestick. Trading price action bounce off moving averages similar to the popular floor traders method most likely using the 6 forex chart patterns explained above. A pin bar is a very unique candlestick because it shows rejection of a price level via very long tail or spike and this tail or spike is much larger/longer than the entire candlestick body. Hopefully, this post has solved some of the confusions about how to use the james16 forex trading strategies and methods. 21, 79 and 365. Pin Bar Fact#2: If you want to trade the pin bar, you trade in the opposite direction of the tail. James16 says he uses these moving averages as resistance and support levels. Well, it is a 2 bar chart pattern and the first bar must be a bearish bar (red) and the second bar must be bullish (green bar) which overshadows the first bar because its high may be a few pips more higher than that. James16 does this by using Price Action by watching levels of Resistance and Support, Fibonacci Levels. Most likely for: understanding the big picture and trend direction.
Not all pin bars are created equal. Dbhlc, two Or More Matching Highs Or Lows. If pin bars form in areas of confluence, then you should take notice of such because the chances of taking trades that go successful are good. HOW TO trading PIN BAR For those trades that may find it hard to understand, this is generally how you trade pin bar trading setups: To see the big picture, James16 uses moving averages as well as support and resistance levels. He uses them for dynamic support and resistance levels.
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