long trade if a bullish pin bar appears on the chart. Place your stop loss 2-3 pips above the resistance line. Download, download the 1 Minute Scalping With Pin Bars Forex Strategy for Metatrader. Best currency pairs to trade: any mark your support level and watch that support level as price comes near to it to see if you notice a bullish pin bar forming place buy stop order 1-2 pips above the high of that pin bar. A bullish pin bar is composed of a long lower wick, small body and small upper wick. Forex pin bar strategy explained: sell trade (see example above wait for the currency price to trade at or near important resistance levels. BUY trade, wait for the currency price to trade at or near important support levels.
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Pin bar Forex Scalper Euro/Dollar Example. Or you can ride the trend until it reaches a key resistance level and exit there. Preferred Currency pairs: EUR/USD, GBP/USD, USD/JPY, NZD/USD, USD/CAD, AUD/USD, GBP/JPY, EUR/JPY, EUR/AUD. Exit and take profit when price reaches twice or three times what you risked initially for that trade. Wait for bullish pinbar (green arrow) to appear. Buyers now control the market price at the bar's close. TIP: You could close half of your trading position at T1 and keep the remaining half to target.