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A Simple Pin Bar Trading Strategy. This is a quick trading strategy using pinbars. The beauty of these is that if you can draw support and resistance lines - you can trade this strategy. This is a good strategy and it allows you to restrict or relax the rules a bit. OK.
Pin bars can be traded in various markets like forex, indices, and CFDs. Traders can adjust the strategy's rules to either increase or decrease the number of signals. The strategy involves identifying pin bars that form at major support and resistance levels. It is recommended to consider the longer-term trend and align trades accordingly.
How do you trade with Pinbar strategy?
1. Draw on your MAJOR support and resistance lines.
2. Crate time based rules for the trade.
3. Decide on risk per trade.
4. Look at the longer term trend and align.
5. Enter long on a pinbar under support. Enter short on a pinbar above resistance.
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