Did you know the real strength of a trader lies in his confidence to earn profit? Whether you will lose many opportunities in the day, but if you have confidence over, proper skills, and patience you’re always successful.
If you are new to trading, learning to trade candles is a must because it is the most common indicator that shows the different events in the market.
The Reversal Pin Bar
This pin indicates a potential reversal, the green bar shows the price will go in an upward direction and the red bar indicates the price will fall down.
The Inside Pin Bar
This pin indicates an indecision and can lead to a breakout. These pin bars are always created within the range of a previous candlestick.
The Double Pin Bar
It is the pattern of two consecutive pin bars ending at the same price level. This will indicate a potential signal for reversal.
The Trend Continuation Pin Bar
This pin bar is established during the trend and gives a strong signal to traders that the current trend will continue after a brief pullback.
The Key Level Pin Bar
This pin bar is formed at historical support or resistance levels and indicates the significance of these levels in market psychology.
The Engulfing Pin Bar
This pin bar is formed when a single pin bar engulfs the body of the previous candlestick. It shows a strong momentum in the opposite direction.
The Failed Breakout Pin Bar
This pin bar is formed when prices attempt to break through support or resistance but fail. This is a great indication of price reversal.
The Hammer Pin Bar
The hammer pin bar is the indication of a bullish pattern which is formed after the downtrend. It is the potential signal for buying pressure.
The Shooting Star Pin Bar
This will indicate a potential selling pressure and reversal. This pin bar is always formed after an uptrend.
The Doji Pin Bar
Its unique formation shows an indecision in the market and signals the prices move based on the subsequent candles.
No comments:
Post a Comment