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NIAL FULLER
Professional Trader, Author & Trading Coach

Pin Bar Combo Signal On GBPUSD Daily Chart – 30th November 2016

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By in Forex Trading Commentary Last updated on | 4 Comments
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GBPUSD – Sterling/dollar inside bar pin bar combo signal

The GBPUSD daily chart has shown obvious strength over the last month, moving back up through 1.2335 and then holding above that level on subsequent re-tests.  Over the last few weeks, the daily chart has remained buoyant and shown resiliency after each attempt by bears to move prices lower. The daily time-frame chart now shows an inside bar pin bar combo signal (an inside bar pattern where the inside bar is also a pin) and it’s now logical to assume price could break higher from this pattern, perhaps significantly so. At current levels, a trade entry on the long side could yield a 2 to 1 risk reward, potentially higher if the market follows through to the upside, with resistance not seen until 1.2850 area. As always, trade at your own risk.

gbpusd

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About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. Checkout Nial's Professional Forex Course here.
  1. Jeffrey December 16, 2016 at 8:41 am

    thank you very much hope to sign up soon

    Reply
  2. Nhlanhla December 1, 2016 at 3:20 pm

    Thank you for the analysis

    Reply
  3. Keith Clifford sproson December 1, 2016 at 2:47 pm

    Thanks for the heads up nial much appreciated

    Reply
  4. Akintayo December 1, 2016 at 2:25 pm

    Thank you Nial. May God continue to increase your coast.

    Reply

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