Forex Price Action Pin Bar
Forex Pair: Aud Usd
This is a nice scenario when all the timeframes has a forex price action pin bar.I will make this post simple.As we all know we enter with the trend and not against the trend. – As we all know the trend is our friend.Therefore, in all 4 timeframes above. 1hr, 4hr, Daily, WeeklyAll are pointing in the same upwards trend direction.Therefore to trade this pair.The 1st criteria is fulfilled. As they are all in the same upwards trend direction.
Forex Price Action Pin Bar
The next most important criteria is to have forex price action bars confirmation.And this pair happened to have forex price action pin bars in ALL 4 Timeframes!At the start of the week, it first formed a long pin bar on the weekly timeframe. (highlighted in the blue box at the bottom right hand corner chart)(That’s an indication that the pair may be heading up this week or so.)And then the daily formed a forex price action pin bar yesterday.(highlighted in the blue box at the top right hand corner chart)(So we will be watching this pair closely already)
And then the 4hr and the 1hr formed a forex price action pin bar right at the same time. (highlighted in the blue box of the first 2 charts)
How good a confirmation is that?!
Forex Price Action Pin Bar
So as we speak, we would have at least taken our first profit off the table already.As they say Price action is King in Forex.This is one great example of a trade to choose and to trade.Remember the more the confirmation, the higher the winning probability of the trade!Check out our online forex trading AFM winning Forex Price Action Forex Trading Course where i teach you the exact FULL Forex Day Trading Systems & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.lifeofatrader.com
Next Intermediate Article: How to take this price action pin bar (part 1)
