Hey Vahagn,
I don’t want top say directly that it won’t work as anything can and does happen and this one may also have bottomed out but when trading Price Action you need to get into the habbit of trading A+ signals so you win more often than not.
This is not technically a pin as it doesn’t close within the previous bar. There is a massive down move you are trading against. In markets like this I would much prefer to short.
Okay so have a look at my last trade for an example. I posted this in here when I was taking.
It was on the daily USDSGD. Notice how I am trading within the trend and the Pin Bar closes with in the previous bar?
Always when learning try and trade with the obvious trend in your favour!
Update on this one I have just taken my first portion profit of the table.
Hope this helps,
Johnathon