How to Trade Long Tailed Pin Bar Signals on Daily Charts
I often get asked if I have a favorite price action chart pattern to trade, and the answer is yes, yes, I do. Today’s lesson is about that chart pattern, it’s what I call my ‘deserted island strategy’ because if I were stranded on a deserted island and could only pick one trading strategy or signal, it would be the one I am going to share with you today… Pin bars, in general, are my favorite overall price patterns to trade, mainly because they are simple, powerful and consistent. The pin bar has stood the test of time; go back and look at charts from 50 years ago, you will see pin bars worked then and they work now. However, not all pin bars are created equal, perhaps you may think this is unfortunate, but if you learn to identify and trade them properly you will quickly change your mind. One type of pin bar in particular, the ‘long-tailed pin bar’, is probably the most important signal I have witnessed in my 15 + years of trading. Long-tailed pin bars are like the so called ‘bla