I have a doubt on the entry point.
Here I ve attached an example image .The pin bar candle opens at close price of the Bear candle. I don’t know I am wrong or right.
There are 2 cases.
1. Buyers push the price from the previous close price , then at a certain price bears entering at HIGH price and pushing all the way down to the LOW , there bulls entering and pushing above and closes as GREEN candle, in this case the pin bar.
2. Sellers push the price from the previous close price , then at a certain price bulls entering at LOW price and pushing all the way to the HIGH , there bears pushing below and closes as GREEN candle, in this case the pin bar.
My question is , assume when I open the chart I see the bear candle.
I don’t know who will enter from the close price of the bear candle.
But u say , buyers entry point is High of the Bear candle and Bears entry is at Low price of the Bear candle….
Either Bulls or Bears may enter from the close price of a previous candle, right? Then Bears entry point is High price , that’s why bears rejecting and we see the upper wick and Buyers entry point is Low price ,that’s why bulls rejecting and we see lower tail right?
I couldn’t get the point what you said in the video. Pls explain, its head spinning.
Thanks and regards,
here is video