PIN BAR POWER 🔥 Predict Market Moves Like a Pro 👇
The pin bar is a popular candlestick pattern in technical analysis that signals potential reversals or continuations in price action. It gets its name from the term "pinocchio bar" because it lies about the future direction of the market before revealing the truth. For example, imagine the price of a crypto that is steadily rising. Suddenly, it shoots up, reaching a new high. However, buyers lose steam and sellers emerge, pushing the price back down. This rapid reversal creates a long, thin candle with a small body and a long wick, resembling a pin.
The pin bar cheat sheet I draw in the picture is a valuable tool for crypto traders because they can help them to identify potential reversals and continuations in the market. And according to how the candle closes it also suggest how strong is the probability that a specific event may occurs (strongest, stronger, strong, indecision)
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