Candle Pin Bar:

The pin bar is one of the popular models used in the market. It has a high degree of accuracy in a trending market and is especially common at the bottom or top of a trend. The pin bar appears at levels of support and resistance critical for the relatively high level of accuracy. The pin bar can also be used to detect trend reversals when the market is moving in one direction and suddenly a long tail candle appears, signaling strong rejection, and is often used on daily time frames. . Look at the image below to see an example of a bearish Pin bar (first candle) and upside pin bar (second candle).

The example below illustrates a pin bar that occurs when a market is in an uptrend. It should be noted that the uptrend starts from two pin bars rising close together, which shows that the current downtrend is over.

Fakey candles:

Fakey candlestick trading is another secret weapon of the price action pattern. It signals the key rejection of a key obstacle in the market. Normally, the market will go one way and then turn around, causing both professionals and amateurs to push prices in the opposite direction. Fakey candles can move strongly in the market.

As we can see in the illustration below, the fakey pattern consists of an inside bar, followed by a false breakout of the inside bar and the closing price inside the parent candle (first candle). The fake entry point is triggered when the price turns higher than the top of the parent candle (or lower than the bottom of the parent candle in the opposite case).

In the chart below, we can see that the market was on the rise before fake candles appeared. Note that an inside bar creates a fake candle, causing players to dream that the market has broken the threshold, but then real players jump in and wipe out the prey with force. buy strong as a storm.

Candle Inside Bar:

The inside bar candlestick is a good indication of the ongoing trend, but can also be seen as a sign of reversal. However, in the first step when dealing with the inside bar strategy, we need to focus on signs of the ongoing trend. As we can see in the illustration below, the top and bottom of the inside bar candle are completely inside the top and bottom of the previous candle.

It shows us that the market is in an accumulation zone and then breaks the threshold to follow the previous trend. Inside bars are best used on daily and weekly charts with relatively high profit: loss ratios.

In the EURUSD example below, we see that the inside bar has occurred with a previous downtrend. The inside bar candlestick forms as soon as the market has broken support and prices continue their strong downtrend.

As you can see from the three examples above, forex trading does not have to be too complicated or consist of a lot of things and a bunch of indicators on your charts. Once you have mastered Price Action patterns like the ones above, you will gradually become confident and become a profitable trader. And always remember, mastering these patterns requires a lot of patience and discipline.