Forex Trade Signals and Setups Update Mar. 9th

EURUSD – Update From Pinbar Trade

Our pinbar trade from yesterday’s Forex Trade Setups commentary off the key 1.328 level worked like a charm and barely went negative before dropping now 70+pips from entry, all while only having a <20pip stop giving us a better than 3.5:1 reward to risk play.

Many of our price action traders got into this play and did quite well, taking advantage of the NFP event coming up with the market being long going into the event, thus paring positions and causing the pair to fall before the print comes in the next 15mins.

pinbar price action forex trade setup 2ndskiesforex mar 9th

We are now flat and awaiting to see how the report comes and if any price action triggers activate, but overall, a great way to end the week.

For those of you wanting to learn rule based price action systems, how to prepare for your trading day, and get a private follow up session with me, then feel free to check out my Price Action Course where you get lifetime membership, learn rule-based systems, access to the traders forum and more.

Other Related Articles:
What is Dynamic Support and Resistance?
Forex Trading Insights (The STOP Method)


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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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  • Patrcia

    Hi Chris,

    did you take profit or scale out or bring stop to breakeven before the NFP event ? how did you manage the risk for this trade going into the NFP event?


    • I just closed it about 30mins before. Did not scale out since I was planning on a one off. I used the stop we employ from the Price Action Course which to me was very small and it worked out fine.

      If I had wanted to keep it open, then I would have brought the stop to BE + cost, then trailed it down.

      Hope this helps