How to Trade PinBar – Forex Scalping Strategy

Introduction to pin bars

PinBar-Indicator-Product-ImageIn this section you will learn what the pin bar is and How to Trade PinBar.

Looking at below figure, we can see what a completed PinBar looks like. See these PinBars are telling you about where the price is going. We want a nice long nose when we see a PinBar. We trade in the opposite direction to where the nose is pointing (so the pin bar in the figure indicates that traders should be taking Short Positions while trading LEFT PinBar & Long Positions when trading RIGHT PinBar. The high of the bars on either side of the pin are the ‘eyes’ for the PinBar. Please note that the open and close of the pin must be within the left eye.

The PinBar means that the price is going to move in the opposite direction to where the nose is pointing. In this figure the nose is pointing up so the trader should expect prices to move down.

PinBar Indicator

Rules of Trading Pin Bar Strategy:

Pin Bar strategy is trading by placing pending stop orders on the candle next to the pin bar signal candle.

  1. Sell Stop Order: Suppose a bearish signal (shooting star) is formed. We will place sell stop order below the low of the pinbar candle. If the order is triggered on the very next candle that is good. However if price goes up without triggering the order, that means the opportunity was not good and order is missed.
  2. Buy Stop Order: Suppose a bullish signal (Hammer) is formed. We will place buy stop order above the high of the pinbar candle. If the order is triggered on the very next candle that is good. However if price goes down without triggering the order, that means the opportunity was not good and order is missed.

A good PinBar has:

  • A long nose (and a long nose relative to the open/close/low)
  • a nose protruding a long way from the prices around it
  • the open / close both near one end of the bar.

The best PinBar are played as they bounce off either:

  • Fibonacci levels (retracements of the previous move)
  • Important pivot levels
  • Moving averages
  • Confluence (several MA or Fib levels in the same general region)
  • Swing high / swing low
  • Retracement of the current move (must retrace a minimum of 23% fib retracement of the current move), which is a lower probability play.

For the BEST results a trader may play a PinBar on the swing high (or swing low) or a PinBar that is bouncing off confluence (Fib levels). The PinBar is a very reliable setup under these circumstances, indicating that there is a high probability that prices will change direction – which is very trade able setup.

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Below videos will guide you how to identify & Trade PinBars.

English Version:

Urdu Version:

PinBar Indicator:

We have developed an indicator that identifies profitable PinBar to be traded with a success rate of 90% (as demonstrated in the video). If you follow the proper strategy and Trade on the Pins as per above six conditions, you can eliminate chances of losing trades. Every Pin if identified correctly as per H-4 Charts, gives you 50-150 Pips in just one trade, that is a huge deal, when you are no where and making losses in your trades.

You might find similar indicators over the internet, but the default settings of this indicator, are set by the experts who have years of experience, Analyzing previous data. This PinBar Indicator is available at very affordable price, that can be recovered in just first identified trade.

100% Satisfaction Guaranteed:

 


gold-guarantee-sealWe are so confident about this indicator to offer you 100% Money Back Guarantee. If you are not satisfied with the results of our indicator and found that indicator is not working for you. You can claim your money back with 30 Days. (refund terms apply)

Regular Price of this indicator is $ 47.99, But for a limited period of time this indicator is available for $24.99 only.

Request trial version of PinBar Indicator

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