You want to larger and more demanding candle to be your price action candle. It’s like a Volkswagon beetle playing chicken with an SUV. As other mentioned, it doesn’t close within the previous candle, so its technically not a pinbar, but even if it did it is still way to small. In this setup the previous candle is about 2.5 times larger. One characteristic you want in a pinbar that it is close to or larger then the previous candle/candles. I will mention a few more things to not like about this trade. I am glad to see people passing this one up because it is a poor quality setup without much edge. I gave this a pass in the end as it looks iffy and I really need to start making some winning trades very soon so I’m sticking to the rules. Thanks Amy, sorry for the delay in replying, I was catching some zzzzzzz’s. Price is definitely in an interesting area - perhaps we should wait to see if we get some more convincing PA to take a short, particularly, in view of the strong bullish momentum of late on this one…? Looking closely at my daily chart - the pin bar doesn’t in fact close within the range of the prior bar on the daily chart - where preferably it should We are at a very key resistance zone marked in yellowīullish near term momentum - also a higher low which you can see more clearly if you zoom out on the weekly - perhaps means we are headed for a trend reversal, 123 pattern? Looking at it again, perhaps there are more cons than pros to this one… Just realised the source of the confusion - I posted the weekly chart in error - I really shouldn’t post when it is super late in my time zone!! Even though that’s what I am doing now, but feel duty bound to set the record straight, sorry BA.
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