Watch as I talk about a recent “live pin bar setup” which formed on the 4 hour EURUSD chart. I also discuss the last 4 pin bar trades which have all been profitable.
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Video Synopsis – 4 Hour Pin Bar – Price Action in Forex
In this quality trading video we are looking at euro-dollar price action and talking about a live pin bar reversal trade on the 4hr chart in the direction of the underlying momentum or with the dominant trend.
Price action is very simple; however intra-day trading is the most complex thing a trader can do. At the time of this video there were 4 profitable 4 hr pin bars on the EURUSD in a row, so sometimes it is very lucrative to trade intra-day charts.
With my mentorship program at learn to trade the market I teach people how to trade the pin bars, inside bars, and the fakey trigger, my existing videos and website will make the fact that I love price action trading very apparent, price action is my “life” with the markets and I have dedicated hours and years to the art and skill of price action trading. Price action really is all a trader needs to profit in the market as far as strategy is concerned. When you learn to read a naked price chart it begins to gel and work with your personality and you will develop your own personal price action trading “flair”.
Back testing is not a useful strategy. Nothing can be back tested with price action, trying to quantify and back test data is futile since we are teaching discretionary chart reading. The concept of my website is to look at price action only, if you decide to join my member’s only forum I don’t want any complex strategies introduced, only the simple price action concepts that I teach.
In this video we are looking at the 4 hr EURUSD chart. We can see the first signal was a nice pin bar at the top of the chart that formed in the direction of the daily down trend, the second signal was an inside bar and combination pin bar break down. The 3rd setup actually formed live and I was short on this pin bar reversal trade setup based on the recent success of the 4hr pin bars on this chart. We are looking for a risk to reward of 3 or 4 to 1 on this setup. We can see the first 2 setups in this chart worked out very nicely. We are using the behavior of the current chart to decide what method to implement, this is chart reading. We can see on the daily chart there have also been pin bars that worked out quite nicely, I call these “golden setups”.