• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer

Toro Demo Trading

Platform How To

  • Trading Broker Platforms
    • Trading Platforms Broker Fees
    • Etoro Broker
      • Etoro review and trust
      • eToro Trading Strategies
      • Etoro risk mangsment
      • Etoro Acount and Guide
      • Etoro Copytrading
      • Etoro CFD
      • How to on Etoro
      • Etoro Forex
      • Etoro Crypto
    • Pocket Option
    • Trading 212
    • Plus500
    • IronFX
    • InstaForex
    • Interactive brokers
    • AVATRADE
    • easyMarkets
    • Swissquote
    • Trade nation
    • CMC markets
    • Trade360
    • Pepperstone
    • XM.com
    • FP Markets
    • ForTrade
    • FXPRO
    • HFM
    • Exness Broker
    • FBS
    • FXTM
    • IC markets
    • Capital.com
    • Admirals
  • Trading
    • Technical analysis
    • Fundamental Analysis
    • Trading Psychology
    • Stock trading
    • Commodities trading
  • Strategy
  • Free Trading Tools
    • Forex Market Hours
    • Trading checklist
    • Trading Balance Growth Calculator
    • Martingale Calculator + Strategy explained
    • Trading Indicators Accuracy backtest
    • Calculate Your Way to Become a Millionaire
    • Gain-Loss Percentage Calculator
    • Forex Tools for trading
    • Economic Calendar
    • Technical summery Currency pairs Buy and Sell
    • Crypto Currencies top-10 Active Price Movement
  • Video tutorials
  • REGISTER / LOGIN

Author Bart Bregman

Bart Bregman

Author & Financial Analyst: 9 Years of full-time trading experience. "There is no such thing as a bad trade."

Disclaimer: The information provided on this blog should not be seen as financial advice, and is only intended for entertainment and informational purposes.

Guide to Using Pin Bar Candles on eToro

When it comes to chart analysis, familiarizing oneself with candlestick patterns can be a game-changer. Among the most powerful and simple reversal candlestick patterns is the Pin Bar candle. In this article, we’ll unveil the secrets of the Pin Bar Candlestick pattern and how you can use it to win trades on eToro.Pin Bar Pattern on eToro

Key Takeaways

β†’Pin Bar Candlestick patterns signal trend reversals.

β†’They are characterized by small bodies and long wicks (2-3 times the length of the body).

β†’Bullish Pin Bars form at the end of downtrends, while bearish Pin Bars form at the end of uptrends.

β†’Support and resistance levels can help validate Pin Bar patterns and identify entry and exit points.

β†’Combining Pin Bars with other indicators can lead to more informed trading decisions.

🧐 What is a Pin Bar Candlestick Pattern?

Table of content

  • 🧐 What is a Pin Bar Candlestick Pattern?
  • πŸ˜‡ Bullish vs. 😈 Bearish Pin Bars
  • πŸ“Š Trading with Pin Bar Candlestick Patterns on eToro
  • 🍏 Pin Bar Pattern on AAPL
  • πŸͺ Pin Bar Pattern on XRP
  • πŸ” Final Thoughts on the Pin Bar Candlestick Pattern
  • Trading Technical Analysis: β€’ Learn moreπŸ“
  • Trading Basics:
  • Candlestick Patterns:
  • Contrarian Trading and Pattern Recognition:
  • Trading Patterns and Strategies:
  • Market Sentiment and Volatility:
  • Technical Analysis:
  • Trading Patterns:
  • Trading Features & Strategies:
  • Indicators & Analysis:
  • Market Conditions & Trading:
  • GENERAL RISK WARNING
  • Author & Expert Trader - Financial Analyst :

A Pin Bar Candlestick pattern, resembling a push pin, consists of a small body (the head) and a long wick (the needle). These patterns can be either bearish or bullish, depending on their location within a trend. A bullish Pin Bar is found at the end of a downtrend, with its head pointing upwards and its long tail pointing downwards. Conversely, a bearish Pin Bar is found at the end of an uptrend, with its head at the bottom and its wick pointing upwards.

Candlestick colors have less significance when classifying bearish and bullish Pin Bar Candlestick patterns. What’s important to note is the position as well as the dimensions of the candle.

Pin Bar Candlestick Pattern

πŸ˜‡ Bullish vs. 😈 Bearish Pin Bars

Pin Bar Candlestick patterns signal trend reversals. If the pattern forms at the end of a downtrend, the trend is likely to change to an uptrend. If the pattern forms at the end of an uptrend, the trend is expected to reverse to a downtrend.

Traders appreciate Pin Bar patterns because they are easy to interpret and identify on a chart. Simply look for a candle with a small body and a long wick that stands out at the end of a trend.

πŸ“Š Trading with Pin Bar Candlestick Patterns on eToro

To best understand the use and the effect of the Pin Bar Candlestick pattern, let’s consider a few examples from eToro.

🍏 Pin Bar Pattern on AAPL

In the chart for AAPL, we see several Pin Bar Candlestick formations within a specific range. The first formation came after a sideways market movement. Pin Bar Candlesticks are most effective in strong upward or downward trends, but they can also work in sideways trends if the preceding candle displays strength. In this example, the red candle preceding the first Pin Bar pattern has a very small wick, indicating the strength of the sellers.

Pin Bar Candlestick Pattern for AAPL

All of the Pin Bar patterns in this chart have a long shadow and a small body, confirming the trend reversal. Additionally, the opening and closing prices of these candles are very close to the close and open of the previous candles. To identify the ideal entry and exit points with the Pin Bar Candlestick pattern, draw support or resistance lines.

πŸͺ Pin Bar Pattern on XRP

In this example with XRP, the chart is less volatile. As with the previous example, the pattern formed after significant price action, such as a strong trend or a thick candle that shows strength.

However, the second bearish Pin Bar Candlestick in this example doesn’t have a strong candle preceding the pattern. Instead, a resistance line has been used to confirm where the price will start to drop and where the pattern will form.Pin Bar Candlestick Pattern for XRP

As shown in this example, support and resistance levels can be used to confirm the Pin Bar Candlestick pattern’s occurrence. When the pattern appears at these levels, it can signal that the price has reached the end of the trend and is likely to reverse.

πŸ” Final Thoughts on the Pin Bar Candlestick Pattern

For traders who rely on price action alone, the Pin Bar Candlestick Pattern can provide a good estimate of the ideal entry and exit points on a chart. However, relying solely on the pattern may not be suitable for non-volatile markets or strong trends. To address this issue, use support and resistance levels to identify potential bounce-back or pullback points.

When dealing with the Pin Bar Candlestick Pattern, it’s essential to identify the correct pattern. A valid Pin Bar Candlestick Pattern should have an open and close near the open or close of the previous candle, a small body, and a long wick that is more than three times the size of the body. Additionally, the wick of the pattern should stick out more than the rest in the current trend.

By incorporating the Pin Bar Candlestick Pattern with other indicators, such as Moving Averages, RSI, and trend lines, traders can take full advantage of the pattern. With constant practice using an eToro virtual account, mastering the Pin Bar Candlestick Pattern and increasing your winning ratio can become a reality. Join Now!

πŸ™Œ Happy Trading!

Trading Technical Analysis: β€’ Learn moreπŸ“

Trading Basics:

  • Algorithmic Trading on eToro
  • Buy Rumor, Sell News Strategy on eToro
  • Breakout Trading on eToro
  • Contrarian Trading on eToro
  • Commodity Spreads on eToro

Candlestick Patterns:

  • Candlestick Patterns on eToro
  • Bollinger Bands on eToro
  • Breakout Trading on eToro
  • Commodity Spreads on eToro

Contrarian Trading and Pattern Recognition:

  • Contrarian Trading on eToro
  • Pattern Recognition on eToro
  • Day Trading on eToro Tips
  • DE Ratio on eToro

Trading Patterns and Strategies:

  • eToro Risk Reward Ratios
  • Trade the Evening Star Pattern on eToro
  • Stair Steps Pattern with Trendlines
  • Guide to Using Pin Bar Candles on eToro

Market Sentiment and Volatility:

  • Analyze Market Sentiment
  • Volatile Market Trading Strategies
  • Bull Market Top Tips for Traders
  • Bear Market Strategies for Traders
  • Volume Indicators in Trading
  • Trading in a Flat Market
  • Understanding Market Trends

Technical Analysis:

  • Using Moving Averages in Trading
  • Understanding Support and Resistance in Trading
  • Using Retracement in Trading
  • Using Trendlines in Trading

Trading Patterns:

  • Bearish Engulfing Pattern
  • Bullish Engulfing Candle Stick Pattern
  • Morning Star and Evening Star
  • Morning Star Pattern
  • Railway Tracks Candlestick Pattern
  • Shooting Star Candlestick Pattern
  • How to Use Triangle Pattern
  • How to Trade Three White Soldiers Candlestick Pattern
  • Rainbow Pattern
  • Understanding Flag Patterns
  • How to Trade Bullish Engulfing Pattern

Trading Features & Strategies:

  • eToro's Risk Score Feature
  • Market Cycles on eToro
  • Mastering Trading Journals
  • Mastering Volatile Candlestick Patterns
  • Mastering Volatility Spreads
  • Price Action Trading
  • Range Trading

Indicators & Analysis:

  • Leading & Lagging Indicators
  • Moving Average
  • Oscillator Indicators
  • Parabolic SAR Indicator
  • Sentiment Analysis on eToro
  • Strategy Backtesting
  • Technical & Fundamental Analysis
  • Technical Indicators
  • Guide to Using the EMA Indicator

Market Conditions & Trading:

  • Best Trading Tools for Bearish Market Conditions
  • Best Trading Tools for Volatile Market Conditions
  • Long-Term Trading Patterns
  • Bear Market on eToro
  • Trading Signals on eToro 2023
  • What is Shorting on eToro?
  • What is Stock-to-Flow Ratio?
  • Support and Resistance Levels


Support us by using the eToro sign-up form down below.⬇️

Plus you will get a Free demo account! Thank you!

eToro sign-up form

GENERAL RISK WARNING

  • β–ΈeToro is a multi-asset platform that offers: Stocks, Crypto assets, and CFDs.
  • β–ΈCFDs are complicated and can make you lose money quickly because of leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. Think about if you understand how CFDs work and if you can afford to take the risk of losing your money.
  • β–ΈPast performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
  • β–ΈCopy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
  • β–ΈCryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
  • β–ΈeToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity-specific information about eToro.
  • Be warned!


Author & Expert Trader - Financial Analyst :

Bart Bregman
My name is Bart Bregman and I am a full-time professional trader with nine years of experience. I specialize in shorter-term trading using technical analysis, and I have extensive experience with Stocks, CFDs, Options, and Crypto trading. I believe that there is no such thing as a bad trade. I'm currently traveling the world as a digital nomad trader. You can follow my journey on Instagram at https://www.instagram.com/bart_bregman/

How useful was this post?

Click on a star to rate it!

Average rating 4.6 / 5. Vote count: 19

No votes so far! Be the first to rate this post.

As you found this post useful...

Follow us on social media!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

You might also want to read

Investing in Stocks

Investing in Stocks: A Beginner’s Guide to Getting Started

πŸ’‘ Investing in stocks is one of the most effective ways to grow your wealth over the long term. By … [Read More...] about Investing in Stocks: A Beginner’s Guide to Getting Started

minimum trade size etoro

Minimum Trade size on eToro 2023 πŸš€

Navigating the world of eToro can be an exciting experience, but understanding its ins and outs is … [Read More...] about Minimum Trade size on eToro 2023 πŸš€

PE_Ratio_eToro

Price To Earnings Ratio – The P/E explaind

lIf you're serious about stock picking, understanding the price-to-earnings (P/E) ratio is a must. … [Read More...] about Price To Earnings Ratio – The P/E explaind

How to Buy Bitcoin on eToro – Step by Step Guide for BTC 2023

πŸ˜‰ Looking to buy Bitcoin on eToro? Here's the quick answer: Sign up, deposit funds, search for … [Read More...] about How to Buy Bitcoin on eToro – Step by Step Guide for BTC 2023

The Importance of Discipline and Patience in Successful Trading on eToro

Trading on eToro can be both an exciting and lucrative venture for those who have the right … [Read More...] about The Importance of Discipline and Patience in Successful Trading on eToro

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

eToro sign-up form

Trending Posts Now

  • eToro trading
    eToro Club Tiers – Why and what to know about them 2023
    October 25, 2020
    By Bart Bregman
    eToro Club has five tiers and each subsequent tier comes with an improved set of benefits. The good thing is...
  • Etoro Review
    New eToro Review 2023 (Updated)
    March 22, 2023
    By Bart Bregman
    In the ever-evolving landscape of investment platforms, it's crucial to stay informed about the latest trends and options available. In...
  • etoro fees and commision
    eToro Fees and Commissions updated 2023
    March 28, 2023
    By Bart Bregman
    You want to sign-up for eToro, but what are the fees..? Look no further! Here's everything you need to know...
  • leverage on etoro
    Trading using Leverage on eToro
    March 31, 2023
    By Bart Bregman
    How leverage trading on eToro can amplify your potential gains, but also increase your risks. Learn to use leverage wisely...
  • Trading Balance Growth Calculator
    Trading Balance Growth Calculator
    December 7, 2020
    By Bart Bregman
    For any trader, knowing the potential profits of an investment should always be taken into consideration. Doing this will allow...
  • EMA Indicator
    Using the EMA Indicator: Effective Trading made easy
    February 23, 2021
    By Bart Bregman
    The world of trading has evolved dramatically with the advent of advanced indicators, helping traders make more informed decisions. Among...
  • Shorting, Selling and Closing
    Short selling and closing on eToro – What’s the difference?
    November 20, 2020
    By Bart Bregman
    Confused about short selling, closing, and selling a trade on eToro? You're not alone. Many traders have faced losses due...
  • Calculating profit and losses on CFD trading on eToro
    CFD Trading Profit Calculations on eToro
    April 2, 2023
    By Bart Bregman
    Unravel the mystery of calculating profits in Contract for Difference (CFD) trading on eToro. With a clear understanding of long...

Footer

  • About Us
  • Contact us
  • Careers
  • Sitemap
  • Risk Warning
  • Earnings Disclaimer
  • Privacy Policy
  • Privacy Policy – Toro Demo Trading app
Who owns AvaTrade

βœ… The answer you're looking for: AvaTrade is owned by a company called AVA Trade Ltd., based in the … [Read More...] about Discovering Who Owns AvaTrade: Uncovering the History

Hero Image of AvaTrade Wiki

Discover the ins and outs of AvaTrade, a leading online trading platform that offers forex, CFDs, … [Read More...] about AvaTrade Wiki: A Resourceful Guide (2023 Update)

AvaTrade Beginner Introduction

πŸŽ‰ AvaTrade is a leading online trading platform for forex and CFD trading! Let's dive into its … [Read More...] about What is AvaTrade? A Beginner’s Introduction

AvaTrade Is It Good

AvaTrade is indeed a good platform for trading, offering an extensive range of tradable assets, a … [Read More...] about Is AvaTrade Good? Examining the Benefits

Hero Image of AvaTrade Crypto

Looking to dive into the world of crypto trading with AvaTrade? You've come to the right place! … [Read More...] about AvaTrade Crypto: Comprehensive Guide (2023 Edition)

AvaTrade Safe and Legit

πŸ’‘ Short Answer: Yes, AvaTrade is a safe and legit trading platform, regulated by reputable … [Read More...] about Is AvaTrade Safe and Legit? Unveiling the Truth

GENERAL RISK WARNING

The products offered by companies listed on this website can be very risky and you could lose money by investing in them. In fact, 77% of people who invest in CFDs end up losing money due to the leverage that is involved. Be warned!
Copyright © 2023 Torodemotrading.com

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
SAVE & ACCEPT