Trading Setups / Chart in Focus:
Check Out My Latest Trading Video - Live Trade On GBPUSD – 4 Hour Pin Bar Signal
GBPUSD – Sterling / dollar long-tailed pin bar buy signals
The GBPUSD formed a long-tailed bullish 4 hour and daily chart pin bar buy signal today after reversing intraday losses into the New York close. Note the support down near 1.6680, this was an important level that the market has clearly and aggressively rejected today, and this is also in-line with the broader daily / weekly bullish trend. As discussed in the GBPUSD video I posted today, I am looking for a retrace ‘tweaked’ entry down near 1.6700 – 1.6680 area and will look to target the resistance up near 1.6820 area with stop loss well below the pin’s low, down below 1.6640.
GBPUSD 4 hour chart long-tailed pin bar buy signal and potential retrace ‘trade entry trick‘ down near 1.6700 – 1.6680 area.
In the currency markets today, the U.S. dollar pared a lot of its gains against the euro following escalating tensions in Ukraine, the euro only lost about 0.08 percent today to the greenback.
The greenback also pared its gains against the British pound today in what was a volatile trading session with the GBPUSD forming a bullish pin bar after reversing intra-day losses.
The Australian dollar, New Zealand dollar and Japanese yen all lost ground to the U.S. dollar today.
In the U.S. markets today, the U.S. dollar pared gains against the euro following
The Dow added 89.32 points or 0.55%, the S&P 500 gained 12.37 points or 0.68%, and the Nasdaq added 11.47 points or 0.29%.
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