High probability forex trading strategy with almost 100 accuracy

The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. The pin bar formation is a price action reversal pattern high probability forex trading strategy with almost 100 accuracy shows that a certain level or price point in the market was rejected.

Once familiarized with the pin bar formation, it is apparent from looking at any price chart just how profitable this pattern can be. It is typically colored white or another light color when the close was higher than the open and black or another dark color when the close was lower than the open. The open and close of the pin bar are near one end of the bar, the closer to the end the better. In a bullish pin bar reversal setup, the pin bar’s tail points down because it shows rejection of lower prices or a level of support. This setup very often leads to a rise in price.

In a bearish pin bar reversal setup, the pin bar’s tail points up because it shows rejection of higher prices or a level of resistance. This setup very often leads to a drop in price. This means you place a stop entry at the level you want to enter the market. The market needs to move up into your buy stop or down into your sell stop to trigger it.

It’s important to note that a sell stop order must be under the current market price, including the spread, and a buy stop order must be above the current market price, including the spread. On a bullish pin bar formation, we will typically buy on a break of the high of the pin bar and set our stop loss 1 pip below the low of the tail of the pin bar. On a bearish pin bar formation, we will typically sell on a break of the low of the pin bar and place a stop loss 1 pip above the tail of the pin bar. There are other stop loss placements for my various setups taught in my advanced price action course.

This entry must be placed above the current market price for a sell and below the current market price for a buy. Next, try to only take take pin bars that are displaying confluence with another factor. Generally, pin bars taken with the dominant daily chart trend are the most accurate. However, there are many profitable pin bars that often occur in range-bound markets or at major market turning points as well. How to trade pin bars from key chart levels Trading Pin Bar Signals with Support and Resistance Confirmation, is perhaps one of the most effective ways to trade forex, if not thee most effective way to trade. Below, we will show some examples of trading pin bars from key levels. Follow along closely because this is likely to be one of the most powerful Forex trading strategies you will ever learn.