EURUSD Daily Chart Bearsih Pinbar Chart Reversal Chart Pattern
The Pinbar reversal chart pattern is one of the best ones to know change of direction of a pair. ( Pinocchio bar). The EURUSD pair just made a Bearish Pinbar chart pattern, which consists of three candlesticks & happens after a long trend in same direction like here, a around 7 day price action going upwards.
Last green candlestick going up is (left eye), next long red candlestick with a wick/shadow which is around 2 or 3 times longer then body of candlestick then happened, it when up to a nice round price action chart number of 1.16000, then dropped (Pinocchio's nose- which is long), 3rd candle is a red small Doji (right eye). All of this, with BB indicator being broke outside top & RSI showing a overbought situation should alert you to a appending price action direction change going on. If you use basic knowledge when trading you will stay trading with trend. Price action on chart & commonsense will keep you trading in a way, which will give you low stress and success.
Last green candlestick going up is (left eye), next long red candlestick with a wick/shadow which is around 2 or 3 times longer then body of candlestick then happened, it when up to a nice round price action chart number of 1.16000, then dropped (Pinocchio's nose- which is long), 3rd candle is a red small Doji (right eye). All of this, with BB indicator being broke outside top & RSI showing a overbought situation should alert you to a appending price action direction change going on. If you use basic knowledge when trading you will stay trading with trend. Price action on chart & commonsense will keep you trading in a way, which will give you low stress and success.