by Tim@Forex Mentor Online
If you’ve been trading for any amount of time, you’d have come to know that pin bar setups don’t always lead to a market reversal.
This is the exact question my new book, “Pin Bars Uncovered,” would answer.
You see, no matter how perfect your setup is, the fact is that sometimes the market just doesn’t reverse; and, this is why: because there are some pin bar setups that DON’T indicate a market reversal.
And, if you have the wrong type of pin bar, the market just won’t reverse.
But here’s the thing…
No one seems capable of explaining this tricky phenomenon.
According to the books, website, and trading gurus that attempted to, it…
“Just happens” and, “losses can be expected with every trading system.”
I don’t know about you, but this wasn’t something I could accept. So, several years ago I started an in-depth study of bar pin setups.
My goal was to figure out why this was a reoccurring trend…
…why even the best looking bar pins often failed to bring about a reversal.
Here’s what I learned.
The first thing you need to understand is that the chances of a pin bar causing a reversal has almost NOTHING to do with the characteristics of the said pin bar.
The length and size of the wick play no part in its prospects…
…as does the confluence or the right technical levels.
No, they don’t. The answer is much simpler.
And, in “Pin Bars Uncovered,” I’m going to show you why this happens.
Once you read my book, you will finally understand why even the best looking pin bars often fail to cause the market to reverse.
Not only that, but you’re also going to learn—
why the common methods of pin bar analysis just don’t work.
Trading “experts” will tell you that pin bars with the best chance of causing a reversal are the ones that possess a confluence coupled with support and resistance levels as well as Fibonacci retracements.
However, if you’ve ever tried trading these pin bars, you’ve probably noticed they often end up failing to generate even the slightest of reversals.
And, here’s something even stranger…
The pin bars you commonly encounter in books that are supposed to have a low probability of causing a reversal often generate the largest reversals.
This can be confusing:
You’ve been taught that some pin bars are better than others…
…yet in front of your very own eyes, you’ve observed this is just an inaccurate assessment.
Thus, the first question you should ask is, “Do the pin bars that have confluence with technical levels actually have a higher probability of causing the market to reverse?”
In my book, you’ll learn the answer to this question and other important questions.
You’re going to see why some types of pin bars DO NOT have a higher probability of causing the market to reverse and others do.
But, why does this happen?
The answer is quite simple.
It has got to do with the formation of pin bars.
There are a number of reasons concerning why they form.
Significant among these reasons are bank traders who take profits off their trades.
When this happens, it’s unlikely that the pin will bring about a reversal; and, this is because the banks want the market force to move in the direction of their trades.
It doesn’t matter if the pin is found at a Fibonacci retracement or the level of support and resistance; or if it has a confluence.
Therefore, if it is formed because bank traders are taking profits off their trades, the market isn’t going to reverse.
While this might be impossible to believe (or, even, like a conspiracy theory); however, after decades of first-hand experience, I know it to be true.
Moreover, if you’re looking to gain some profit, then you need to know the difference between the two.
Then, you need to learn…
my simple step-by-step process for figuring out why a pin bar has formed in the market.
So, how do you figure out what’s creating the pin bar?
How do you distinguish between good versus bad pin bars?
After all, these questions are vital if you want to trade pin bars successfully.
What’s more, to help you do this, I’ve developed a very simple method of analysis, which you can use the second a pin bar appear on your charts.
This method of analysis is based on the factors that lead to a market reversal…
…and how banks acquire their trade places during a reversal situation.
With this maneuver I devised and shared it with you in my compendium, you can easily determine what’s causing a pin bar to form; thus, you’ll be able to dramatically raise your overall success rate when trading pin bars.
Furthermore, unlike 90% of traders who do not have this rare luxury, you’ll know which pin bars are likely to be successful and which are probably going to fail.
In addition to this, I’ll also show you…
…how to understand the different types of pin bar that form in the market.
Once you’ve learned how to figure out why a pin bar has formed, I’m also going to give you some background knowledge about the different types of pin you’ll come to see form on the market.
You may not already know this, but each type of pin has its own characteristics, which are unique to that type of pin.
For example, pin bars that pose a profit will only form after a large movement has taken place.
On the other hand, reversal pin bars are usually found as one of the swing lows or swing highs that form during big reversals.
Understanding this component is essential to knowing why some pin bars work, and others fail.
Also, if you don’t have this background knowledge, it makes following my method of analysis a herculean task because you won’t understand where the different types of pin are likely to form.
Will this book give you a 100% success rates when trading pin bars?
No one can promise you this. And if you’re not entirely certain about obtaining a copy, I’ve made provision for a 30-day, no questions asked 100% money-back guarantee.
Download my book, read it, and utilize the strategies you’ll find inside. Unless they drastically increase your win rate with pin bars, you get every cent of your money back.
Remember, just because you’re seeing a bar pin setup doesn’t necessarily mean the market is going to reverse: there are many types of bar pin setups, and not all of them indicate a reversal—
if you want to increase your winning trades, this is something you have to know.
“Pin Bars uncovered” costs just $39.90 and is available for instant download.
Click the button below to order, now.
Why do pin bars setups fail so often?
Tim is an part time trader in the world of Forex trading. He is a full time web marketing director and coffee enthusiast .
Author: Tim, The trader
by Tim@Forex Mentor Online
Pin Bars Uncovered
Have you ever wondered why a pin bar failed to cause the market to reverse even though it met all the requirements for a perfect setup i.e it had a long wick at one end of the pin, it had confluence with multiple technical levels and it closed into the body of the previous candle ?
I have. And I bet most of you reading this also have too.
Available in PDF
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