Winning Strategy in Olymp Trade: The combination of Pin Bar and support/ resistance

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Winning Strategy in Olymp Trade: The combination of Pin Bar and support/ resistance
Winning Strategy in Olymp Trade: The combination of Pin Bar and support/ resistance

There are so many articles on Olymp Trade Club that claimed the importance of support and resistance. In this one, we will combine the pair with a special candle: Pin Bar and create a reversal strategy with high probability of success. It is a very efficient method on Olymp Trade.

Pin Bar and support/ resistance

What is Pin Bar?

Pin Bar is a special type of candlestick. The candle’s body lays at one side of it, sometimes, the body is missing. The tail of the candlestick is long, as long as two third of the candle’s length and the longer it is, the better the candlestick is. Below is the image of Pin Bar.

What is Pin Bar?
What is Pin Bar?

Why is Pin Bar and support/ resistance important?

Because there must be a violent conflict between needs and demands to make that type of candle appear. Someone try to make the price go up, yet others try to keep it go down. And when a Pin Bar appears, it means that market does not accept the price. That is the reason why the tail of Pin Bar is long.

You can find information about Pin Bar in this article: What is Pin Bar? How to use Pin Bar most effectively when trading Olymp Trade?

The combination of Pin bar and support/ resistance

You can find information about support and resistance in this article: Support and resistance, two of the best technique indicators that Olymp Trade’s player should know.

There an interesting thing: No one know if the price can overcome the support/ resistance zone. But in the zone, if Pin bar appears, the probability of overcoming the zone is low. It means that the price is likely to reverse.

The combination of Pin bar and support/ resistance
The combination of Pin bar and support/ resistance

Explanation: When price reaches support/resistance zone, the organizer will try to make the price overcome this zone to trick players and let it fall intermediately . Some players will fall for it. Specialists often call this situation: “Fake Break” in their technical analysis.

Therefore, the combination of Pin bar and support/resistance can be understood like this:

Price goes down and touches support zone, open a UP trade.

Price goes up and reaches resistance zone, open a DOWN trade.

It depends on the chart you observe. But we encourage you to observe the chart of 5-minute-candles and place order in a long time frame of about 15 minutes.

How to trade on Olymp Trade with Pin bar and support/resistance

In Olymp Trade, choose UP, observe 5minute-chart, set time frame 15 minutes

How to trade UP on Olymp Trade with Pin bar and support/resistance
How to trade UP on Olymp Trade with Pin bar and support/resistance

In Olymp Trade, choose DOWN, observe 5minute-chart, set time frame 15 minutes

How to trade DOWN on Olymp Trade with Pin bar and support/resistance
How to trade DOWN on Olymp Trade with Pin bar and support/resistance

You can give it a try. Wish you success!

Join the Olymp Trade Club Signal Group: https://t.me/olymptradeclub19

Winning Strategy in Olymp Trade: The combination of Pin Bar and support/ resistance
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