FX Price Action – Euro False Break + Pin Bar Profits +140 Pips | May 2nd

In yesterday’s market commentary, we discussed the Euro false break + pin bar reversal signal that formed at the prior swing high and key resistance at 1.3200. We suggested looking for shorts at 1.3200, which sold off heavy today, about +140 pips so hopefully you profited from that as many of our members and savvy price action traders did.

It should be noted, we did not take some arbitrary 50% retracement method, because price action doesn’t just pullback automatically to 50% retracements on pin bar signals. The price action will respect the most recent price action around the pin bar, and the logical conclusion was to look for shorts around 1.3200.

The signal has now offered an excellent reward to risk ratio of at least 4:1, so profit certainly can be taken at this point. For those thinking there is more downside (which I’m inclined to agree with), the next support comes in at 1.3000 and 1.2960. Bulls will minimally want to wait towards these levels before getting long, as long as the right price action forms there.

false break + pin bar signal euro price action 2ndskiesforex.com

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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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  • Christian

    Hello Chris, nice prediction. I saw this myself, but did not trade it, because the pinbar seems so small compared to the previous up move and candles. although it respected the resistance level it would have been a trade against the short term momentum and into the EMA. So point is trusitng my gut or are there other reason for taking this trade. All the best Christian