GBPUSP – Pin Bar At Key Role Reversal Level | Sep 10

GBPUSD – Pin Bar @ ST RRL (4hr chart)
I’m sure some of my ‘fans’ will comment on the fact I’m mentioning pin bars. That would be a misunderstanding of what my article was about.

Regardless, what I’m watching right now is ST the momentum is bullish for the GBPUSD. However it’s coming into a key RRL – role reversal level at 1.5450. The pair has already formed a pin bar rejection there (can you tell I’m milking it :-)))

This RRL is key to me ST for if it holds, then we should minimally see an attack on the 1.5350 ST swing pullback area and potentially the lows from the 4th of this month.

A daily close above this and 1.5550 would negate my bearish bias MT and shift the risk for an upside attack towards 1.5650.


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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Gloria

    Got my eye on this level as well! I had a long trade on GBPUSD but *just* missed my profit target by a few pips – had my target set at 1.54835. I’ve since closed the trade over the weekend for a tiny profit of $16.52. At least it’s better than a loss, which has less of a negative effect on the mindset! 🙂