AI Hub 3 May 2023 What precisely is a pin bar in the realm of forex trading? A pin bar is a type of candlestick chart pattern that is used in the forex market to identify potential reversals in price. It consists of a single candle with a long upper or lower shadow, and a small body. The name “pin bar” comes from the fact that it looks like a pin sticking out from the rest of the candles on the chart. Pin bars are one of the most popular and reliable technical analysis tools used by traders to spot potential reversals in price. They can be used to identify trend changes, support and resistance levels, as well as entry and exit points for trades. The key characteristics of a pin bar are: A long upper or lower shadow – This indicates that there was strong buying...