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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Forex Trade Setups Commentary: GBPUSD moves lower off pin bar, 23rd November 2011

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By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | One Comment

Trading Setups / Chart in Focus:

GBPUSD

The GBPUSD pin bar setup that we first discussed in our commentary from November 18th has come off to the downside for a nice gain. We discussed this setup extensively in our members’ community and many of our members were in on this obvious price action setup as well as the 4hr pin bar that preceded it.

When the markets are trending and moving aggressively like they have been recently, it’s the time to make money. We have many eyes on the market in our members’ community and this helps us all spot the obvious price action trading opportunities like the pin bar setup below.

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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, the U.S. dollar gained significant ground against the other majors today after a poor German bond sale cast fears that the euro-zone debt crisis was starting to affect the region’s largest economy.

The EURUSD close at $1.3341 today, after losing over 1 percent as it hit a low of $1.3319.

The AUDUSD moved below $0.9700 for the first time since the start of October after the inside bar from yesterday broke lower.

Other Markets:

In the U.S. markets today, stocks moved lower again as poor Chinese factory data and continued concern over the euro-zone debt crisis cast another pessimistic tone over Wall Street.

The Dow dropped 236.17 points, or 2.1 percent, the S&P 500 lost 26.3 points, or 2.2 percent, and the Nasdaq lost 61.20 points, or 2.4 percent.

Upcoming important economic announcements: 11/24/2011

4:00am EST: Euro-zone – German Ifo Business Climate
4:25am EST: Australia – RBA Gov Stevens Speaks
4:30am EST: Britain – Revised GDP 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.

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

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

      Reply

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