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THE CANDLESTICK TRADING BIBLE
The pin bar candlestick pattern strategy
The pin bar candlestick is one
of the most famous Japanese
candlesticks; it is widely used by price
action traders to determine
reversal points in the market.
In this section, you will learn in detail how to identify potential pin bar
signals, and the conditions needed for high probability setups.
A pin bar is a chart candlestick, it is characterized by a very long tail
that shows rejection and indicates that the market will move in the
opposite direction.
The area between the open and close is called the real body, typically
all pin bars have a very small real body and a long shadow.
A Bullish pin bar is known for its lower wicks, and the bearish one is
characterized by long upper wicks, the color of the candlestick is not
quite
important, however, bullish candles
with white real body are
more powerful than candles with a real black body.
On the other hand, a bearish pin bars with black real bodies are more
important than the ones with white real bodies.
See how pin bars look like below:
