Pin Bar Setup
• Pin
bar: middle of a 3-bar formation
• Open
and Close of pin bar is within (or very close)
price range of bar 1 and 3
• Shadow of pin bar sticks out
Longer,
more significant
• Pin
bars occurring at important support/
resistance level can be very accurate
• Can
be taken as counter trend if well-defined and
protrude significantly from surrounding price
bars
Indicates strong rejection occurred
Preferably on daily chart time frame
1-BAR
Fakey Setup
• Inside/Harami
bar + False break, then closes
back within range
• Fakey entry:
triggered as price moves back up
past the high of the inside bar (or the low
in the
case of a bearish fakey)
• Amateurs
tried to pick market top, pros stepped
in and flushed out amateurs in a flurry of buying
