Pin Bar

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.