Bullish 50 EMA Pin Bar Fake break Scanner
Bullish EMA 50 Pin Bar Strategy
The Bullish EMA Pin Bar Strategy is a trend-continuation strategy used when the EMA is sloping upward. The strategy looks for a price retracement toward the EMA, followed by a temporary break below it and a strong close back above the EMA.
Setup
Look for the following conditions:
- Rising 50 EMA
- Price retraces toward and briefly moves below the EMA
- A long-tail candle, such as a Pin Bar or Hammer, forms
- The candle closes back above the EMA
What does this indicate?
During the setup, it may briefly appear that sellers have taken control as price moves below the EMA. However, the long lower wick and close back above the EMA indicate that buyers have stepped in and the EMA support may still be intact.
This can represent a false breakdown, where weak positions are shaken out before the existing uptrend continues.
If the setup is confirmed, price may continue moving upward with the prevailing trend.
Risk Management
- Risk-to-Reward: 1:2.5
- Stop Loss: Below the low of the Pin Bar/Hammer candle
- Trailing Stop Loss: 50 EMA
TSR Custom Screener
With TSR Custom Screener, you may fine tune with other settings like EMA : 50 , 20 , 100, 200
Time Frame : 1 Min to Monthly Tick
Suitable For
This strategy can be used across different trading timeframes, including: Scalping, Intraday Trading and Swing Trading
Quick Checklist
- EMA is rising
- Price retraces toward/below the EMA
- A Pin Bar or Hammer with a long lower tail forms
- Candle closes above the EMA
- Stop Loss is below the candle's low
- Target follows a 1:2.5 risk-to-reward ratio
- Trail the position using the EMA
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.