The perfect way to trade the bullish pin bar in the forex market
Price action trading strategy is considered to be one of the most profitable trading systems in the world. The system is based on the formation of the Japanese candlestick pattern and the expert traders use the candlestick pattern in the market at the key support and resistance level.
Ideal Bullish Pin Bar
Figure: The basic formation of the bullish pin bar
In the above figure, the candlestick in inside the red square is an ideal example of the bullish pin bar. We will look for this kind of pattern at the key support level in the market. Let’s see the criteria of the bullish pin bar in the market.
- The candle will have a long lower shadow.
- The wick/shadow of the candle must be at least three times of the body.
- The candle must by formed in the higher time frame.
- The candle must favor the long-term prevailing trend in the market.
Now you know the basic formation of the bullish pin and all you need to is to find this pattern at the key support level in the market to execute your orders in favor of the long-term prevailing trend. You can also access see offered price action course here. This will help you to become a professional price action trader. You can also subscribe to your forex trading signals and copy trade from the professional price action traders. For further query please feel free to contact us.