Pinbar strategy is one of the simple trading patterns that you can use to trade Forex currency pairs and cfd's. When a pinbar candlestick forms at a very high or lower point with the wick pointing outwards, it may be an indication that the trend is reversing. So basically, if the pin bar ( a candlestick with a tiny body and a massive wick to top ) forms at a very high point in the chart, then you can enter a trade with "PUT" option ( as price likely to fall down ). If the pin bar ( a candlestick with a tiny body and a massive wick to bottom ) forms at a very low point in the chart, then you can enter a trade with "CALL" option ( as price likely to rise up ).
Look at the video below to get a better idea about how this trading pattern can be used when trading to maximize results and reduce wrong predictions .
Tip to improve success rate using pinbar trading pattern with Forex currency or CFD's trading
Use higher time frameworks ( as this is Forex, you can use 1hr or 4hr time framework ) because the fluctuations in price is too high in lower time frameworks.
Look for very long wick to top in a rising candlestick chart or Look for very long wick to bottom in a falling candlestick chart.
Look in chart for previous rejections in candles at those points. If the candles has unable to pass that particular point at least 2-3 times in past. It is highly likely to make a reversal.
Trade during Tuesday to Thursday as the market movement is on higher side during this time of the week.
Good Luck and Happy trading !