EURUSD – Long Tailed Pin Bar Signal on Daily Time Frame | May 15th
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.
Ever had a losing streak and thought something was wrong with your strategy? Make sure to read my latest article on this subject How To Keep the Right Perspective When Trading
Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.
Want to Learn Price Action Strategies for Trading Forex?
Sign Up for our Monthly Newsletter and Get our FREE E-Book