You’ve probably come across a Pinbar trading strategy that goes something like this…
- Let price retrace to an area of support
- Wait for a Pinbar to form
- Place your stoploss below the Pinbar, and aim for a minimum of 1:2 risk to reward
Makes sense right?
So…
You start looking for these trading setups.
But here’s what usually happens:
Price comes into an area of support, trades higher from it, without giving you a Pinbar entry.
If you’ve experienced it before, then watch this training video below.
Because you’ll learn what a Pinbar really means, and how to find high probability trading setups (without looking for “confirmation”).
Why the Pinbar Trading Strategy is Failing You?
I hope you’ve enjoyed this week’s video post. As always, comments are welcomed and encouraged. Cheers!
Do you want to learn a new trading strategy that allows you to profit in bull and bear markets?Â
In my FREE trading course (valued at $48), I will teach you this powerful trading strategy step by step, along with charts and examples.
You can download it here for FREE.
Hi Rayner,
Thanks for this video. I did this mistake many times. In the beginning traders look for a quick candlestick pattern that say it’s sure going up or down.. I even remember myself look for it… where is the next pinbar that going to give me some bucks… candle stick is not a magic stick.
Well done Rayner! You always memorize to us what is the most important thing in trading, what the nature of the market is.
Shlomi
Hello Shlomi,
Yes its a mistake I made myself. But we all learn from our mistakes, don’t we?
Cheers
Rayner
Yes we do, as Einstein said “The definition of insanity is doing the same thing over and over and expecting different results.” but sometimes I even do twice.. 🙂 🙂
Lol.
You’re not alone. Sometimes we need to get hit hard a few times, before the message sinks in.
Hello Rayner – new to the site – looking to learn and understand. Would I be right in saying that the pin bar examples shown (against the trend) are all valid – especially for scalping – and the lesson to be learned is to be aware of the additional trades from price rejection at S&R levels without pin bars and also with the trend.
Hello Ingram,
Pinbars that are against the trend, are usually continuation patterns, instead of reversal patterns. If you go down into the lower time frame, you’d notice they’re usually a retracement in a trend.
Yes another lesson here is that pinbar is just another form of price rejection.
I hope that helps!
Rayner
Yes. When I learnt about Pin bars and Engulfing, I felt that is the magic.
Experience taught me. Not only Pin bar, any candlestick pattern will not work when we look from single candle perspective. Need to see whole picture.
Hey Ramchandra,
Well said. I couldn’t agree more 🙂
Rayner
actually when i look at this, it actually reminds me of ur early videos on dynamic support/resistance. the price rejection is actually price touching the dynamic support/resistance.
and i do like your style of trading with the trend, thanks rayner!
Hey JL,
Thank you for your feedback, I appreciate it.
Don’t hesitate to let me know if you’ve got any questions, I’ll be glad to help.
Cheers
Rayner
PHi Rayner, great video. What is the best confirmation to look for when price is changing direction if pinbar or engulfing pattern doesn’t show? Thanks
I wrote post on it… https://www.tradingwithrayner.com/how-to-identify-trend-reversal/
Hello Rayner teo
Hey hey, what’s up my friend.
U are fantastic sir…. Awesome… I love to learn from u.. U r a fabulous teacher…
Cheers Arun
This video was so useful for me because most of the time I miss trading opportunity waiting for pattern to for and forget about what the chart is saying
We are glad you find it useful, Thabiso Manaka.
Cheers!