understanding pin bars is indeed good enough to be able to analyze the market but sometimes the form of a pin bar is invalid, often an incorrect option because the understanding of the pin bar is not good. info tanks sir
the pin bar is the same as the indicator so it can still be invalid aka repaint.
yes you are right, indeed a pattern such as pinbar can still change alias repaint especially in a relatively small time frame.
if I, once I find the pin bar pattern I immediately analyze it with supporting technical indicators.
Indeed a candle pattern or market pattern must be juxtaposed with supporting indicators, not infrequently traders use several technical indicators so that the pinbar pattern is valid.
to identify a valid pin bar, besides having to be in a large time frame there must also be additional indicator support.
The Pin Bar is a direction reversal formation. Now we discuss further, some possibilities for entering the market:"At Market Entry", this means you place an instant order whose position is immediately opened after you place it, and this must be executed by the broker at the best market price of the price of your order. A bullish pin you place a "Buy" order and your bearish pin "Sell" order."Stop Entry", this means you place a stop order at the price level you want. In order for your order to open, the market price must first move up to the price point where you order Buy Stop or drop down to the point where you sell a Sell Stop order. It is important to note that the type of Sell Stop order must be placed below the current market price including spreads. And a Buy Stop Order must be placed above the current market price including spreads.Limit Entry Order ", this order must be placed above the current market price if it is sold and below the current market price if Buy. The basic idea is the possibility that the pin bar will move back to around 50% of the tail, so we can expect to enter at that point with a limit order
I know there are two pin bars. namely the bullish pin bar and bearish pin bar. bullish pinbar signals to buy and bearish pinbar are signals to sell
A bullish pin bar is often called a hanging man while a bearish pin bar is often called a shooting star.
it seems that this pinbar pattern often appears worthy of many traders finding it easy but the matter of accuracy I think depends on the supporting indicator or confirmation candle.
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