TRADE EITHER DIRECTION ON VALID CONFIRMATION
Pin-bars typically reverses 50% to 61.8% of its range before resuming it's effect or direction.
The current price action has reversed exactly 61.8% of the pinbar's range
Pinbar's range = 1765.30 to 1727.50
1765.30 - 1727.50 = 37.8 points
37.8 x 0.618 = 23.36
From the low of the pinbar
1727.50 + 23.36 = 1750.86
1750 is exactly the current level the reversal reached and if the pinbar is valid then we typically expect
price to reverse back down
We can still watch the 66.6% and 70.7% levels, if we break the current high, the sell signal is invalidated
Remember, VERSATILITY is the best trait for any successful trader
The current price action has reversed exactly 61.8% of the pinbar's range
Pinbar's range = 1765.30 to 1727.50
1765.30 - 1727.50 = 37.8 points
37.8 x 0.618 = 23.36
From the low of the pinbar
1727.50 + 23.36 = 1750.86
1750 is exactly the current level the reversal reached and if the pinbar is valid then we typically expect
price to reverse back down
We can still watch the 66.6% and 70.7% levels, if we break the current high, the sell signal is invalidated
Remember, VERSATILITY is the best trait for any successful trader