Let’s talk about what is pinhead candle. It is the candle right after an Alpha Candle and it is fairly small in size and within the high/low of the Alpha candle. Almost like a shooting star, evening star… You will see a price movement after this. If it happens it could go a long ways.
Pinhead candles also is an important candle in the formation of the two bar plays. An Alpha Candle followed by a pinhead candle, and a big move in the direction of the Alpha Candle.