Consecutive Failed Pin Bars

Looking at the chart below, you can see the pin bars. They are supposed to be bearish price action. But after a series of them, if price still doesn’t come down as you anticipated, it’s best to liquidate your position. Because if it’s not coming down, it means it’s going up soon! Duh.

No matter how hard the sellers try to sell, it’s not coming down. In such cases, it usually means the buyers are going to overpower the sellers soon.

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(click on chart for a bigger view)

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