EURUSD – Long Tailed Pin Bar Signal + False Break on Daily Time Frame
After forming the large engulfing bar + false break we talked about last week, the Euro has formed a long tailed pin bar today at a key event area (support level). The 4hr charts suggest the rejection has likely recovered the key level, so we’ll look for short term longs here.
Our Trade Idea: Look to get long on a short pullback to the 1.3689/1.3670 support zone, with stops below today’s low. Note – we are not using any ‘trade entry trick‘ – just pure price action trading and analysis. Upside targets will be 1.3755 and 1.3890.
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