Crude Oil Pin Bar & Range Support Fails | May 30th

pin bar 50 % entry crude oil setups price action and context

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 …

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