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Nial Fuller

Professional Trader, Author & Trading Coach

Forex Trade Setups Commentary: GBPUSD daily and 4hr pin bar setup, 18th November 2011

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By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | 3 Comments

Trading Setups / Chart in Focus:


The GBPUSD rallied up towards the 1.5900 resistance / breakdown level today but found heavy selling pressure there. We can see price formed a bearish pin bar today on the daily chart and 4 hour chart showing rejection of resistance. Many of our members caught the 4hr price action signal today. Next week, we will watch for a further decline if price breaks down past the low of today’s daily pin bar.



Special Note: This Month I’m Offering A Discount On My Forex Price Action Trading Course and Price Action Traders Community. To Find out More Visit the Forex Price Action Trading Course Page Here.

Forex Commentary:

In the currency markets today, speculators increased their bets on the U.S. dollar according to the latest data from the CFTC released today. The U.S. dollars overall long position rose to $10.13 billion this week, up from $6.23 billion last week.

The EURUSD closed today up modestly but ended well off the day’s high after sellers came into the market into the New York close.

The other major currencies were also up modestly against the greenback today but the rally is largely seen as counter-trend to an overall bullish U.S. dollar recently.

Other Markets:

In the U.S. markets today, stocks ended their worst week in two months with most investors sitting out as they wait for more news to be released about the continuing debt problems in both the euro-zone and the U.S.

The Dow added 25.50 points, or 0.22 percent, the S&P 500 lost 0.48 point, or 0.04 percent, and the Nasdaq lost 15.49 points, or 0.60 percent.

Upcoming important economic announcements: 11/21/2011

10:00am EST: United States – Existing Home Sales
9:00pm EST: New Zealand – Inflation Expectations q/q

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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. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
  1. Viet July 11, 2019 at 12:32 am

    Nial, Im from Vietnam. I cannot describe how much I admire you.
    Never imagine some simple candle patterns have such power on the market.
    I always dream to be a successful trader living my free life with beloved but have never reached it after some years of ups and downs…a lot of pain, loss …
    I want to have a life like you, being happy with beloved wife and daughter and enjoy trading, please help me by posting more about your price action applications, I promise with you and with myself that I will appreciate every piece of experience from your posts.
    Many appreciation, admiration, loves and best wishes from me to you.

    • Nial Fuller July 12, 2019 at 1:53 am

      Your comment is very appreciated, it is good to hear from traders in Vietnam.


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