As expected, price made its way lower following the June 17th Pin bar and a profit target around 122.00 would have seen a good profit with this trade. Today, price has cut down through this Key level and it looks like the next major support area is down around 118.4 – 118.8. A conservative strategy […]
Price has been consolidating recently on the USD/JPY pair. We can see a bunch of inside bars and now, today, a nice looking pin bar was printed on our daily chart, which is in line with the reversal bar printed on the weekly chart at the end of last week. If price breaks below this […]
A bullish pin bar has formed on the EUR/USD daily chart in line with the new upward trend. Price has recently pushed higher after forming a higher low around the 14th April. The price then pushed up through 1.105 and has now pulled back to this level leaving a bullish pin bar at the close of […]
There are a couple of opportunities tonight, both involving the NZD…. Obviously as both pairs involve the NZD, if both trades are taken then effectively we are doubling the risk amount. It can be a good idea in a situation like this to reduce the risk amount per point on each trade in order to […]
Bearish Pin Bar on USD/JPY daily chart. A pin bar formed today on the USD/JPY daily chart. This Pin bar pierces a key level and shows rejection of that level. One of the nice things about this pin bar is how it sticks out clear of surrounding price action and also has its body contained […]