This method has been around for quite a while now and works best on the higher timeframes from 4-hour to monthly. Yeah, you are right, you will not come across a lot of trades when you are dealing with the bigger timeframes but you will be in for some big moves making you big bucks when the set-up is right.
Remember, you must have the hunter's approach, striking your prey with one shot, one shot only. The only way to do this is to wait patiently for the right time to pull the trigger.
You will be amazed by how simple but yet profitable this method is. If you are like me and hate sitting in front of your laptop all day long then this method is definitely for you. It takes on average only 5mins to find the correct set-up, no more no less.
Enough with all the mumbo-jumbo and lets get down to business.
There are two types of pin-bars:
1. Bullish Pin-Bar
2. Bearish Pin-Bar
Bullish Pin-Bar:
Interpretation: For a valid Bullish Pin Bar, price must move down forming a long pin at least twice the size of the head (distance between the close and open) and return to close at or higher than the low of the previous bar.
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