Also called: pinbar, pinocchio bar, rejection candle
A candlestick with a long wick in one direction and a small body at the opposite end — a rejection of that price level.
A pin bar (short for "Pinocchio bar") has a long wick pointing one way and a small body pointing the other. It's called a pin bar because the wick looks like the pin on a bowling alley — narrow and sticking out. The long wick shows that price went there and got rejected; it could NOT hold that level.
Bullish pin bars have a long lower wick (buyers defended). Bearish pin bars have a long upper wick (sellers defended). The body should be small and at the end of the candle AWAY from the wick — a bullish pin's body is at the TOP of the candle.
Pin bars are similar to hammers and shooting stars, but the term "pin bar" emphasizes the rejection element more than the shape. Traders look for pin bars at key support/resistance levels.
Jun 2024 bearish pin bar on EUR/USD daily at 1.0900 (a confluence of resistance and 200-day EMA) kicked off a 250-pip decline. One of the cleanest short setups of the month.
Frequently asked about pin bar
What is a pin bar in trading?+
A candlestick with a long wick in one direction and a small body at the opposite end — a rejection of that price level.
When will I see pin bar used in real trading?+
At major support/resistance, at previous highs/lows, at round numbers (psychological levels), after news spikes.
What is the most common mistake traders make with pin bar?+
Trading pin bars without a level. The pin needs to reject SOMETHING — a support, resistance, trend line, or prior high/low. A pin in the middle of nowhere is garbage.
What do experienced traders know about pin bar that beginners don't?+
The ideal entry is on a 50% retracement to the pin bar's midpoint. Market orders right at the close of the pin get you a worse price. Wait for the pullback.
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