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Pin Bar

It is part of the "Price Action" business strategy and serves to capture market turnover by forming three candles with long wicks, called a pin bar. In simplicity, the theory is that if one side of the market fails to maintain the price for the duration of the candle and the other side wins, a turnaround may occur in the market. Therefore, we will look for candles in the graphs that have a long wick and a short body and stand out significantly either above the other candles or below the other candles.

We can use any time frame and financial instrument, but for now the strategy will be shown on the example of the currency pair EUR / AUD.

Candle number one meets the parameters and its wick is deep below the other candles. While the body of the candle is short, the wick is long. The declining trend (bearish trend) did not keep the price at lower levels and the market turned upwards.

Candle number two is the same case, but on the opposite side. It also stands out above the other candles; it has a long wick and a short body.

Candle number three meets all the parameters; the wick is deep below the others, the bears did not keep the price, and there was a sharp turnaround.

How to trade open positions? If you notice such a candle, it may indicate a market turnaround. If it is a bull candle (wick upwards), it is good to choose a pending Buy Stop 20 pips above the maximum of the candle.

In the case of a bear candle (wick downwards), it is advisable to choose the Sell Stop 20 pips order below the minimum of the given candle. Stop Loss can be used in our case 80 pips and also profit 150-200 pips. The first position would end in loss, but the second two would be in profit, and this strategy would overall show an interesting profit.

This strategy is intended for advanced traders.


Start with this strategy

Trading is risky and your entire investment may be at risk.

Warning: The presented strategy is not investment advice and should not be taken as a crucial factor for successful trading, as it could be too complicated for a client starting with trading and would not have to offer the desired results. This strategy is part of the marketing material and is provided free of charge to support informed decisions and understanding of trading markets.

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Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.72% of retail investor' accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read our Risk Disclosures.