Pin bar signal

The marked resistance level was broken and price action completed a pin bar that pinned the resistance as support.

For this type of trade setup the stop is best placed below the pin bar where the move is deemed invalid. A good target is calculated by being at least 2x that of the stop level. Based on the weekly time frame view, a buy idea is supported by the support holding AND a pin bar that pinned the major support. See the weekly view in the related ideas link below:





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