Pin bar pattern
A pin bar is a candle that depends on the direction of the market. It is a small body with a long spike directed upwards or downwards.
![](https://www.investchannels.com/wp-content/uploads/2022/01/4-6-1024x878.png)
Meaning of pin bar on the chart
Look at this pattern, it provides a strong signal of a future trend reversal and if the pin bar points up then it is predicted that the price will go down. This pattern is for those who do candlestick analysis.
![](https://www.investchannels.com/wp-content/uploads/2022/01/3-6-1024x878.png)
And if the pin bar points down, the prediction of the price is going up.
Ideal pin bar
![](https://www.investchannels.com/wp-content/uploads/2022/01/1-5-1024x878.png)
There are two comparable criteria for ideal reversed pin bar candlestick which traders consider:
- Open and close levels of pin bars are placed next to the previous bar end. It can be set either on the top or bottom.
- Open and closed levels of pin bars are set within the previous bar that is known as the left eye.
![](https://www.investchannels.com/wp-content/uploads/2022/01/2-7-1024x878.png)
This is a case where traders study this pin bar as a powerful signal for their trading in option.
Expand your knowledge on how to trade pin bars and how to combine them with Bollinger Bands only at Binary Count.
We wish you successful trading with the IQ option.
Top 5 Trending
The Norwegian government pension fund has made a significant investment in India's consumer electrical equipment sector, acquiring a 1.7% stake… [Read More]
Introducing DigiToads (TOADS) - The GameFi Token Making Waves in the Crypto Market If you're looking for the next big… [Read More]
Unlocking Profitable Trades: Trade 1-Minute Options with Pin Bar Candles and Bollinger Bands! Looking for a winning strategy to trade… [Read More]
Because of the promising money-making potential, many traders are attracted to binary options trading. Those who are newcomers to the… [Read More]
You will find a variety of features on the IQ Option platform. That is the reason why it is not… [Read More]