GC/Gold- Pin Bar Reversal On Daily

COMEX:GC1!   Gold Futures
Candlestick reversal signals are some of the most powerful and abundant signals used by price action traders – the most common of them being ‘The Pin Bar’.

Pin bar trading is generally the backbone of most price action trading systems used in today’s Forex markets.

Pin Bars are one of the most powerful tools a trader can have in their price action arsenal. They form very regularly and can be found across all time frames. The pin bar’s core purpose to help the trader identify potential reversals in the market. When pin bars form, it is a good sign the market is ready to move in the opposite direction.

Price action always tells a story. The story of a pin bar is is one where price moved to an area on the chart. The move is rejected by the market, and pushes price back to its original point of origin. Sometimes even beyond if it’s a good signal. Working with the logic of the rejection principle of pin bars, we can use them to:

Capture potential tops and bottoms to price movements
Identify breakout traps that can lead to powerful price reversal moves
Position into trending environments at excellent prices.

*Will be long on Friday & reevaluate over weekend again for next week. Good Luck.
*Most strongest reversal patterns are: Harami, Engulfing and Pinbars. Please read about them, if you do not understand these candlestick patterns.
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