Forex indicators, strategies and news - iForex Indicator

Smart way to use indicators

  • facebook
  • google
  • twitter
  • rss
  • Home
  • Forex Indicators
    • MT4 Indicators
    • MT5 Indicators
      • more mt5 indicators
  • Forex Strategies
  • Brokers
  • Articles
  • Forex eBooks
    • Forex Books for Beginners
    • Forex Books about Trading Psychology
    • Money Management Forex Books
    • Forex Strategy Books
    • Books about Forex Market in General
  • More
    • FMTI Announcements
    • Forex Indicators Guide
    • MetaTrader Help Centar
  • Forex Advertise
  • Premium Membership


Home » Scalping forex using pinbar candlestick pullback strategy

Scalping forex using pinbar candlestick pullback strategy

by Dave Posted in All Topics, Pullback Strategies, Scalping

One of the great features of pullback indicators is that they will often appear along side other pullback indicators. This reinforcement by other established strategies and forex indicators further enforces your position making trades easier to execute the more you are familiar with the various pullback setups.

Firstly what is a Pinbar candlestick?

pin-bar-candlestickA pinbar candlestick describes the appearance of the candlestick, basically it looks like a pin. The tail of the candlestick is very long compared to the body of the candlestick.
The rule for our strategy is that one of the tails is at least 3 times longer than the body. The tail length is important, the ratio of the length of the tail to the body is proportional to the significance of the tail.
Obviously it does not matter if the bar is white or black, and in the strategy it does not really matter either, however the direction of the tail is somewhat significant in that it can give clues as to direction in some cases but not all, so the direction of the tail does not matter, but does usually give an idea of direction.

Where does a pinbar candlestick appear and how do I use a pinbar candlestick?

The strategy is that a pinbar appears before a trend or direction change. It is most commonly used by scalpers in a pullback situation. Any time frame can be used and scalpers will often use a tickchart instead of a regular time frame.

pinbar-candlestick

Why does a pinbar candlestick work as an indicator?

A pinbar appears because during the candlestick timeframe, a change in momentum has occurred. For example… at the start of a time frame there may have been a strong selling burst, but midway through the time unit, there were more buyers than sellers, and so the price changed. For the price to change against strong selling means that the buying was much  stronger, and so in general a reversal is occurring.

Strategy for pinbar candlesticks?

Try to avoid acting on a pinbar during flat trading, however during trending in either direction a pinbar is significant and indicates a reversal. It is especially common during a stepping trend with many pullbacks.

please comment about using a pinbar candlestick.

 

 For those not sure what scalping is, here is a video of scalping

also some more resources on scalping dd, and this

Filed Under: All Topics, Pullback Strategies, Scalping Tagged With: Scalping

← Previous How to scalp forex with the Double Doji Strategy
Next Why Forex and Gambling are not the Same: Five Main Reasons →

Members only!

You are not currently logged in.








» Register
» Lost your Password?

MT4 Forex Dashboard (NEW!)



Categories

  • All Topics (206)
  • Articles (8)
  • Books (4)
    • Forex Strategy (3)
  • Expert Advisors (2)
  • Forex Indicators (215)
    • MT4 Indicators (203)
    • MT5 Indicators (13)
  • Forex Strategies (51)
    • Forex Strategy Guide (9)
    • Pullback Strategies (1)
  • Market News (7)
  • More (20)
    • FMTI Announcements (9)
    • Forex Brokers MetaTrader (1)
    • Forex Indicators Guide (8)
    • MetaTrader Help Centar (3)
  • Scalping (2)


fmti logo Share:
Tweet

Contact | Forex Advertise

Website

  • Home
  • Become Member
  • Forex Advertise
  • Contact us
  • About Us

Explore

  • Forex Brokers
  • Trading Strategies
  • Forex Indicators
  • Trading eBooks

Follow Us

  • Facebook Page
  • Google Plus Profile
  • FMTI Twitter Profile
  • RSS Feeds

Translation


by Transposh - translation plugin for wordpress

©2009 - 2019 iForexIndicator.com / Terms Of Use / Privacy Policy

:)

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by iForexIndicator.com, it's employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.