Pin bars are one of my all time fave price action set ups,...

Pin bars are one of my all time fave price action set ups, though i am fussy which ones i trade. They have to be nice big bars (long nose), close lower than open and located around a 'trouble area', trendline and/or a big round number. In this case it gets ticks for size and occurring at a trouble area ie the top of the box. Taking this setup as a short is usually a no brainer for me but when trading back into the box, into loads of 'traffic', where previous bar low/highs can act as support and as we've seen with the last swing low the midway of the box quite often acts as support, trade management becomes priority and done intra day which isnt something id usually do ( i love 4hr and daily charts)

The last perfect pin bar setup i played was BHP (sorry RB) From memory at 39.80.

Hopefully that makes some degree of sense, im no educator by any means just thought it might be worth while explaining a pin bar, the term coined by Martin Pring so maybe check him out for more (helpful) info

Safe trading

Peace

Karl