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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

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By in Forex Trading Commentary 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 15,000+ students since 2008. Checkout Nial's Professional Forex Course here.

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  1. Petrus July 31, 2017 at 3:15 pm

    Thank you.
    I would like to know your advice or suggestion on how swing traders who are using daily time frame dealing with gapping up or down that usually happen on Monday.

    Reply
  2. Samuel July 31, 2017 at 11:57 am

    Great analysis.. your insight into the market is always refreshing. Keep it up Neil

    Reply

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