• Nial Fuller

    NIAL FULLER Nial Fuller
    Professional Trader, Author & Coach

    Recent Fakey and Pin Bar Reversal Forex Trade Setups

    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:

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    Nial Fuller

    About Nial Fuller

    is a Professional Trader, Investor & Author who is considered ‘The Authority’ on Price Action Trading. His blog is read by over 200,000+ followers and he has taught 25,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
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    1. Jerzy

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

      Reply
    2. Adnan

      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

      Thanks Nial another valuable strategy from you.. :)

      Reply
    4. Adamu

      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

      Foundation building. Thank you Mr. Fuller

      Reply
    6. sergey

      simple and ingenious

      Reply
    7. kttrader

      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

      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

      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

      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

      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

        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. 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

      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

      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

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

        Reply
    15. Ivan

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

      Reply
    16. Cheryl

      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

        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

      The last 2 examples great. Rob

      Reply
    18. Walter

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

      Reply
    19. P

      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

      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

      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

      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

      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

      interesting..well played..

      Reply
    25. Joe Sinnott

      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

      just fine. for me it is a huge lesson

      Reply
    27. T Allen

      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

      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

      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

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

      Thanks

      Reply
    31. DR. D

      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

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