Special Note: Save 30% Off Nial Fuller's Trading Course & Daily Trade Setups Newsletter (Ends November 30th) -
Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Recent Fakey and Pin Bar Reversal Forex Trade Setups

author thumb
By in Forex Trading Strategies Last updated on | 34 Comments

Hey Traders,

trade examplesI just wanted to point out some nice trades that have formed recently on the EURUSD and GBPUSD. Below are some charts with classic examples of some of my price action trading strategies that I use on the 4 hour and daily charts.

You will notice the clean simple chart, with no indicators (pure price action). The charts show my “fakey setup” and “pin bar reversal setup”. The current market conditions (at the time of writing, November 2010) have been “perfect”. If you can’t make money in the current market then you won’t ever make money, this current trend is a “gift”, so trade it well.

You will also notice that the trade setups resulted in several explosive moves, allowing good profit potential and risk reward ratio. These setups are very simple and logical and have a positive expectancy, occurring often enough to actively trade the daily and 4 hour charts. I have had good success this past month with the fakey and the pin bar, and so I just wanted to share with you some of the trades I made recently…

Examples of trades made using the pin bar setup and the fakey setup

The chart below shows a Fakey setup and Pin bar setups I traded on the 4 hour time frame. You can read more about the Pin bar strategy here and learn about the Fakey setup here.

fakey and pin bars

The chart below shows daily time frame Pins and Fakey setups – You can read more about Pin bars here and learn about the Fakey forex setup here.

fakey setups and pin bars

The chart below shows a daily chart time frame bearish pin bar reversal setup that kicked off a huge trend change. Note how the trend was up prior to the pin bar and then price immediately fell lower after the pin bar formed, and a significant downtrend followed. It doesn’t always happen this way, but pin bars do sometimes mark huge turning points in the market, and this is yet another reason why understanding how to trade them is so important…

pin bar reversal

The chart below shows a large pin bar sell signal on the 4 hour EURUSD chart which led to a nice move lower and then a fakey setup with a large pin bar as the false break bar. Fakey setups with a pin bar for the false break bar are among my favorite price action setups to trade.

pin bars and fakey's

If you’re keen to learn more about Price Action and my trading strategies, check out My Free Forex Videos.

You might also be interested in this trading lesson:

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. Jerzy February 14, 2011 at 5:53 am

    Thanks Nial. This is a very powerful method!
    God bless you!

    Reply
  2. Adnan January 9, 2011 at 3:06 am

    What can I say Nial? you have made candlestick chart reading very valuable and easy to profit from. No need to go for (academic) books on this subject.
    Thanks. It is really a great contribution.

    Reply
  3. Thrinethra October 31, 2010 at 9:14 pm

    Thanks Nial another valuable strategy from you.. :)

    Reply
  4. Adamu October 23, 2010 at 7:23 am

    I can not believe that i have been accumulating junk forex resources for three year. Well done bro.

    Let me say three Gbosa for yo
    Gbosa! Gbosa!!, Gbosa!!!(Greeting)

    Thank you Sir

    Adamu

    Reply
  5. galen July 31, 2010 at 5:11 pm

    Foundation building. Thank you Mr. Fuller

    Reply
  6. sergey July 21, 2010 at 6:10 am

    simple and ingenious

    Reply
  7. kttrader April 26, 2010 at 12:01 am

    thanks for the email,learn alot with your keep it simple charts,price action really help make profits,keep on teaching sifu

    Reply
  8. RLW April 22, 2010 at 7:15 am

    Nial:
    Thanks for this posting. I used your price action methodology on the retracement of the Cable this past Monday morning after the gap down on Sunday. I picked up 170 pips very easily just from applying what I was studying from your course.
    Thanks again!

    Reply
  9. Stewart April 22, 2010 at 5:41 am

    So simple and effective. Man’s a genius lol. Love the clear simplicity of the chart, no graphs, wavey lines, straight lines etc. Just pure candles. Keep the info coming.

    Reply
  10. Ann March 9, 2010 at 5:39 am

    Thank you sooo much for that information. I can hardly wait to be able to be a part of the daily trading videos and forum.

    Reply
  11. Ann March 8, 2010 at 8:12 am

    Hi Nial,

    I am a new trader and am fascinated with your method and with this site. I plan to save up so that I can join as a member. I was wondering, after seeing a post by Ivan, what data feed we need to be using to be seeing the same pins and other setup conditions as you? I have a live micro account on MT4 at present.

    Thank you!
    Ann

    Reply
    • nial March 8, 2010 at 4:43 pm

      The data we use is from fxlite.com these are free mt4 charts with correct price bars (a 5 day week) and open and close at the correct time. each feed around the world is different, each chart is different, we use these and only use them for free forex charts, not to execute any trades through.

      Reply
  12. bruce March 6, 2010 at 4:59 pm

    G’day Nial,

    Stupid question i know but, i have to ask it.I usually trade CFDs. Not the forex. until now.
    What are the opening times of the New York market and the London opening times in Sydney times.
    I have been told a dozen times, but they are all different.
    thanks.
    bruce.

    Reply
  13. shaqireen sofee February 27, 2010 at 10:56 pm

    Hi Nial,

    I enjoy your site most and appreciate all input which are genuine, precise and concise in nature. I have tried on smaller time frame (m15,m30 and H1) it works. Looking forward for your reply.

    Regards and take care.

    Reply
  14. Ivan February 26, 2010 at 10:14 pm

    Hi Nial,

    With respect, Ivan didn’t say what’s quoted above!!
    What Ivan is saying is that on checking on the EURUSD on that date, those signals shown on that chart are not the same as what’s showing om my chart? I’m not seeing all those lovely long spike reversals. If I did I would be making money.
    I like this method of trading, but if I’m not seeing those signals, what it good for.
    Again, with respect!

    Ivan

    Reply
    • nial February 26, 2010 at 10:48 pm

      I use a different data feed ..closer to the new york close timeframe, thats the difference you see.

      Reply
  15. Ivan February 26, 2010 at 6:37 pm

    I Nial, i want to say thanks for your training. Your set-up are very profitable.
    Ivan

    Reply
  16. Cheryl February 26, 2010 at 4:11 pm

    Nial,

    I thought you live in Australia like I do, if so do you stay up through the night to trade the 4H setups that happen during NY open?

    Cheryl

    Reply
    • nial February 26, 2010 at 6:43 pm

      I often watch the 4 hour charts on major pairs when markets are trending like this. I either stay up, or set alarms every 4 hours etc.
      But due to me currently being overseas, the time zone is easier than it would have been in Australia. I will add though, that many of these 4 hour setups occured
      later in the session, which is early morning for Australia, not so bad really.

      Reply
  17. Rob February 26, 2010 at 2:24 pm

    The last 2 examples great. Rob

    Reply
  18. Walter February 26, 2010 at 10:24 am

    Dear Nial
    Your training material and course is right on.
    Walter.

    Reply
  19. P February 26, 2010 at 10:10 am

    Hi Nial,
    Thanks for these videos and articles. Very informative. I have a query regarding above set ups.
    You have shown some of the pin bars above where next candle has not retraced to 50% of the pin bar ( something you propose in your videos to enter the trade). I understand there are different ways to enter and exit the trade based on personal preference. I am curious , based on your experience, what has worked majority of the cases?

    Appreciate you sharing your experiences.
    cheers

    Reply
  20. Gordon February 26, 2010 at 9:09 am

    Couldn’t agree with you more there Nial that the current market action is a “gift”. It is especially true for us more experienced traders.

    Reply
  21. Dennis February 26, 2010 at 7:06 am

    Thanks Niel. I am a new member for less than a week and have made good results from what I have learnt from your course and daily commentary. Your methods are logical but simple to apply.

    Happy trading, Dennis

    Reply
  22. Dan February 26, 2010 at 7:04 am

    Hi Nial,

    Your setups on daily and weekly are exactely what was missing to my system ,which instead is giving me extremely precise targets. As you said this week was very productive.I used eur/usd, gpb/usd and eur/jpy and made a lot of pips on each. I am still in the game watching all 3 pairs since I expect a consistent downmovement before correction.

    Good trading

    Dan

    Reply
  23. John February 26, 2010 at 3:33 am

    Thanks nial, I took 2 of those trades, the Eur/usd pin and the GBP/USD double pin/daily fakey, just closed it for 4:1 on risk, fantastic! This is by far the best trading ive ever done and best of all its enjoyable! keep it coming Nial
    Good trading,
    john

    Reply
  24. ade February 26, 2010 at 2:53 am

    interesting..well played..

    Reply
  25. Joe Sinnott February 26, 2010 at 2:50 am

    Cheers Nial.
    I caught all the pin bars,’a realy good month’.
    Its nice to have some confirmation that Im getting it correct.I think its time to start studying fakeys.
    Lets Hope we all have a realy good year.
    Regards Joe.
    PS: No Idea what URI means.

    Reply
  26. sergei February 26, 2010 at 2:21 am

    just fine. for me it is a huge lesson

    Reply
  27. T Allen February 26, 2010 at 2:16 am

    Nial

    Thanks for these great charts and lessons. You keep posting excellent stuff. And – we who are members of your forum really appreciate the daily market summary. In fact, because of that, I was already watching for the short opportunity in the EUR-USD and got in on that one right near the 50 area. It was a good trade.

    You are a great teacher – thanks for keeping it brief and simple.

    Reply
  28. Rudy Fernandez February 26, 2010 at 1:47 am

    Nial, You are a great teacher. Thanks for everything you do. I’ve been looking at your forex trade setups and they’ve been amazing, right on the money. right now i am saving to access the members area….. looking forward to learn more from you…..Maybe one day we can translate the website into spanish and educate the latin community….Keep up the good work! Rudy

    Reply
  29. Jag February 26, 2010 at 1:22 am

    sorry after reading my previous message – I mean’t to say thanks for the explanations and not thanks in a psarcastic way :-)

    Reply
  30. Jag February 26, 2010 at 1:19 am

    Hello, links to fakey set up explanation are all pointing to the Pin bar explanation?

    Thanks

    Reply
  31. DR. D February 26, 2010 at 12:50 am

    I benefited from these as well. Price Action works!! Thanks for introducing me to this method, it is the best that I have come across so far.

    Reply

Leave a Comment

Your email address will not be published. Required fields are marked *