Post
Topic
Board Trading Discussion
Re: Can the bullish pin bar candle pattern be used to predict the bull market?
by
jeraldskie11
on 22/11/2023, 23:58:15 UTC
Do you have an indicator that you use that you think is useful for accurate predictions in technical analysis? Also, have you come across such a sign in the recent past until today and what are your analyzes?
Bullish pin bar is good at predicting that market will start going upward especially if there is a long wick because this candle indicates that demand is higher than the supply, or huge selling pressure but buyers overcome it. I will confluence it with volume indicator, if there's a huge volume bar and I see a pin bar, this will give me high probability that the price will increase. You can also add as your confluence the divergence. Divergence can also be found in RSI, Volume, and MACD.