Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Crude Oil – 50% Pin Bar Entry Fails – More Downside?
In my weekly market commentary, I discussed the crude oil pin bar that had formed at the range support. Although it looked identical to the last pin bar at the same level which profited, I was highly skeptical it would follow through as the setups, price action and context was not as supportive this time around.
Looking at the chart below, this ended up being correct as this last pin bar failed to produce any follow through, and anyone trading the 50% pin bar entry technique got crushed in the process. This is why we don’t just trade pin bars blindly. We are not pattern traders – we trade …... Keep reading