Price Action - Pin bar

[Q.shani]

A bullish pin bar at the support key level signals a near-term price reversal but what if it appears at the resistance key level..?
It's the weakening of buyers?

 

[maxinger]

3 possibilities :

- price can continue to go up
- price can reverse direction and go down
- price can go sideways

 

[mikeriley]

Nice drawing.

 

[Good1]

 

[SunTrader]

Like anything PinBar needs to be confirmed by minimum next bar's price action.

 

[murray t turtle]

Like anything PinBar needs to be confirmed by minimum next bar's price action.

%%
THAT;
+ longer term trend.
QQQ, as a concrete example\ has only closed once above 200dma= nice bear down trend 2022.

 

[Handle123]

Pin bars are like any other chart pattern, in right climate, other patterns, trend line they can be a gem or torture, but risk management makes the profits.

 

[Swiss_cheese]

Better to also wait for the following candle too:

 

[tomorton]

Close above the pin bar's high confirms the market's bullishness. Close below the pin bar's low likewise is a strong bearish indication: again, confirmation next day after the initial bearish close would be worth waiting for.

 

[easymon1]

Fuggin Steve Harvey is a pro...
makin lemonade outta lemons, lol...