More accurate on h1 time frame onwards
Basically, the bar show market not confident and signal of reversal.That is why the opening and closing of pinbar is close to each other.
More info on pinbar
http://www.forextofreedom.com/pin-bar-candlestick-reversal-pattern/
Video on using pinbar to trade
http://www.youtube.com/watch?v=w2aoQZdpo6g
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