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Candlestick pattern is a chart type that make up the price action. Candlestick pattern tell us on a day to day basis the sentiment of the market whether it is more bullish or it is more bearish and it helps to fine-tune our entries more precisely, that means by looking at candlestick pattern we enter, when all the stars ae aligned on the bullish momentum and short on bearish momentum
1. Bearish Pin Bar: Bearish Pin bar are one of the most well-known candlesticks, this is because they are very consistent. In the below mentioned picture if you observe, the pin bar is at least 2/3rd the length of the candle, the body is should greater than 1/3rd. You’ll find the bearish pin bar after a bullish move in the market, the wick shows strong surge of sellers coming into the market, and this suggests the bears, people wants to see in the market go down maybe gaining control of the price momentum.
2. Bullish Pin Bar: Similar to Bearish Pin Bar, but the opposite way around, it will be found after a bearish, it can be a nose on Pin bars but there must be small, even with small nose the tail wick is still 2 times the length of the body at least after a bearish move, the pin bar will appear suggesting the bulls who won’t see the market rise who have taken control of price momentum. These Pin bars are practically the same as other reversal candles such as hammers and hanging men.