How Do I Interpret Price Action with Support & Resistance Indicator?
How Do I Analyze Price Action with Support & Resistance Indicator?
One of the strategies for trading price action is use of PinBar. A pinbar is a reversal price action signal on chart which highlights an obvious change in the market sentiment during that particular period.
This pin bar candle-stick has a long tail with the closing price near the open.
The pin bar candlestick looks like a pin thus the name Pin Bar - occurs after an extended move upward or downward.
How Do I Trade Price Action Pattern with Support and Resistance Price Action Indicator?
This price action reversal signal is confirmed after market closes below the candle that precedes this price action pattern. Below the pin bar price action reversal pattern is confirmed after the market closes below the blue candle that preceded this price action pin bar candlestick.
How Do You Trade Price Action Pattern with Support and Resistance Price Action Indicator
Combining Pin Bar Price Action Pattern with Support and Resistance Lines:
This pin bar price action reversal signal can be combined with other line tools such as Support and Resistance levels which can be used together with this price action signal to generate buy/sell signals.
Support & Resistance Areas
A pin bar price action candle that forms after price touches an important support or resistance zone can be used as a trading signal to enter the market. When a this price action reversal pattern forms the trades taken should be in the direction opposite of the tail of this price action candlestick.
If the market moves up this forms a pin bar candle with tall upper tail, then the signal is to open a sell trade transaction.
If the market moves down the forms a pin bar candle with tall lower tail, then the signal is to open a buy xauusd trade.
Price Action Strategy with Support and Resistance Technical Indicator
How Do I Read Price Action with Support & Resistance Technical Indicator?
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