I use pin bars to tell me where price isn’t going. A failed bullish pin bar is a great short entry signal – not by itself but in co-operation with one of my setups, especially triangles.

To the left of the chart is the PA in response to the 3Min Bolli setup, then there’s a Doji, followed by a retest of RES 1, the HH above RES 1 met by a big sell bar. This backwards and forwards PA forms a triangle below the KL and the big buy bar followed by the failed bull bar confirms the upper edge of the triangle and tells you that a break out of the lower edge is a trade worth taking.
This way of looking at pin bars is also useful on the 3Min Bolli set up (seen here on the M1 chart). Again, we see a big buy bar which initially looks like its going to get some follow through, but this bar turns out to be a failed bull bar, adding evidence to the likelihood of a reversal.
And here’s another example, in this case the failed bull bar told me the trade wasn’t ready yet – that the selling had further to go. I was trading this as a fade of the Neutral Zone lower side, but it also set up as a 3Min Bolli andmy entry was according to those rulles – but redaing the pin bar would have got me into an 8:1 trade instead of this one which was stopped.
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