Here is a recent example.
Example 1 we have a large nose pinbar. I look at it as a bigger reaction. Price made a heavy move away from the previous bars high, and was rejected downawards. This large nose IMO signifies a better pinbar in terms of a potential move.
Where as example 2 is STILL a pinbar, but the nose is a lot smaller. Less of a reaction means we have to take more notice that their might be likewise less of a move the other way. Is this always the case? Absolutly not, but from my experience this often happens. In this case this pinbar went where it was supposed to still(red x). But in the case of pinbar 1 since it was a larger more reactive pinbar I would be more likely to let it ride past the first areas of S/R where as the small nose one should not(IMO).
Again this is just my interpretations, but maybe it will help someone
Mike
Example 1 we have a large nose pinbar. I look at it as a bigger reaction. Price made a heavy move away from the previous bars high, and was rejected downawards. This large nose IMO signifies a better pinbar in terms of a potential move.
Where as example 2 is STILL a pinbar, but the nose is a lot smaller. Less of a reaction means we have to take more notice that their might be likewise less of a move the other way. Is this always the case? Absolutly not, but from my experience this often happens. In this case this pinbar went where it was supposed to still(red x). But in the case of pinbar 1 since it was a larger more reactive pinbar I would be more likely to let it ride past the first areas of S/R where as the small nose one should not(IMO).
Again this is just my interpretations, but maybe it will help someone
Mike