How to Trade Fake Pin Bars

One of the more compelling entry triggers via price action is the Pin Bar.

Pin Bar, which is short for ‘Pinocchio Bar,’ is a single candlestick setup that clues price action traders into potential reversals in the market. A pin bar is an elongated wick that ‘sticks out’ from price action. Traders will usually look for one-sided wicks that are two times the size of the candlesticks body.

When traders see elongated wicks sticking out from price action, they can look for the momentum that created the long wick to continue by looking for a reversal.

Summary: Japanese Candlesticks

Basic Japaness candlestics Patterns

Dual Candlestick Patterns

Engulfing Candles

Basic Japanese Candlestick Patterns

Hammer and Hanging Man

The hammer and hanging man look exactly alike but have totally different meanings depending on past price action. Both have cute little bodies (black or white), long lower shadows, and short or absent upper shadows.

What is a Japanese Candlestick?

Japanese candlesticks can be used for any time frame, whether it be one day, one hour, 30-minutes – whatever you want! They are used to describe the price action during the given time frame.
Japanese candlesticks are formed using the open, high, low, and close of the chosen time period.

About Steve Nison Candlestics

Steve Nison is known worldwide as the father of modern candlestick charting. He not only introduced this exciting and powerful charting method to Western traders, but he continues training thousands of traders every year.

How to Trade Support and Resistance

Now that you know the basics, it’s time to apply these basic but extremely useful technical tools in your trading. Because here at Greenpips we want to make things easy to understand, we have divided how to trade support and resistance levels into two simple ideas: the Bounce and the Break.