Euro Pin Bar Signal Continues to Profit +150 July 16th
EURUSD – Pin Bar Off Dynamic Resistance Profits Heavily
On our weekly market commentary, we talked about taking a pullback off the daily 20ema and 1.3000 level. As of yesterday, we wrote about again since it formed a pin bar signal and intraday double bottom off our 1.3000 level perfectly, continuing higher. Our upside target was 1.3188, while today the pair hit a high of 1.3174, and closed at 1.3162. Many of our students traded this and profited nicely, with one chart I’ll be posting in this Friday’s Trades of the Week, so hats off to those students who traded this well as one could have certainly taken plenty of profit off the board by now, if not all.
Now the pair faces an interesting challenge as the 1.3200 resistance level is just above, so buyers will have to be strong in overcoming this barrier. Should it be cleared, expect 1.3275 up next, and then 1.3375 thereafter. Bears can look for price action sell signals at these upper two levels, unless intraday charts show weakness at 1.3200.
Check out my latest articles on Rule Based Systems vs. Discretionary Systems Pt. 1, and some winning trades from our students over the last few weeks grabbing some excellent price action setups.
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