Tuesday, November 29, 2011
Trading The Forex Pin Bar Strategy
Trading pin bar reversals is one of the best ways to trade the market in my opinion. The pin bar shows turning points in the market and also trend-resumption points. By analyzing the "tail" of the pin bar strategy we can see which direction the market is rejection price. We then trade in the opposite direction of the rejection with the implication being that price will continue moving in the direction opposite the rejection. Now, it doesn't work every time, but the pin bar strategy is certainly a high enough trading strategy to build an effective strategy around.
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