Trade coin techniques: Trade with Pin bar and Doji candles

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Both Pin bar and Doji are famous long-standing candle models, which are very popular but there are many traders to avoid because of the excessive noise. Trading with Pin bar and Doji candles is an extremely important trading coin technique . Bitcoin Vietnam News will guide you to trade with Pin bar and Doji candles to understand the market’s uptrend and sentiment , thereby making the most accurate decision and choosing the right time to invest. the most reasonable.

Pin bar candle pattern

Pin bar is a very identifiable candlestick pattern, and that’s part of the reason why this pattern is so popular. The shape of a Pin bar has a body that is completely skewed towards one end (above / below), and has a long shadow at least twice the length of the body.

Trade coin techniques: Trade with Pin bar and Doji candles

We often hear that Pin bars are a sign of price rejection and reversal, but the truth is not so simple. Specifying a Pin bar with its use to enter commands are two completely different things.

So how to know which Pin bar should trade and which Pin bar should not?

Of course, the answer is waiting for the confirmation of the market. Trading single candles is not recommended because of the high risk, traders should combine the market view after the single signs.

And with the pin bar, deciding whether to enter the command or not will depend on the bars behind it. Specifically, for a bearish pin bar, in the next few bars, the bottom of the Pin bar must be penetrated. Conversely, with a bullish Pin bar, in the next few bars the top of the pin bar must be penetrated.

Trade coin techniques: Trade with Pin bar and Doji candles

The penetration is a confirmation that the buying power on the other end of the Pin bar is strong enough, and trading under the Pin bar is now a reasonable choice.

Doji candle pattern

The Doji candle pattern is even less an “easy to chew” pattern. A lot of people believe that Doji is a sign of a reversal, but that is just one case, it could also be a continuation pattern. In terms of shape, the Doji are the candles that opened and closed close to each other and had a shadow at both ends.

Trade coin techniques: Trade with Pin bar and Doji candles

In essence, Doji is a model that indicates a pause of the market, where traders are calculating to prepare for the next direction. Or it could also be a battlefield for the buying / selling faction where the forces of both sides are equal.

When you have experience observing the market you will find that the appearance of Doji bars is very normal because the price moves with each wavelength and the pause is indispensable.

In terms of trading, it is similar to the way we talked about Pin bar. Candlesticks behind the Doji bar will help traders decide whether or not to enter the order.

Conclude

We have two notes:

  • Only trade when the top / bottom of the Doji is penetrated;
  • Should the transaction along with the main trend to increase amnesty c interest properly.

Of course, the wrong judgments are inevitable, but hoping to help traders will change the mindset “to see Pin bar or Doji is to see a reversal” and trade more objectively.

Above is an article dealing with Pin bar candles and Doji candles in the Bitcoin Vietnam News technical trade series . Hopefully the article has brought you useful information. If you have any questions, please leave a message for us!

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OctaFX Broker No Swap, Top 1 Malaysia, Indonesia
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