Trading False Break Patterns in Forex
A video of Trading False Break Pattern in Forex market, often these false moves create huge profits, a serious Forex strategy worth learning
Video synopsis – Trading false break pattern / pin bar reversal on 4hr EURJPY
This video contains a 4 hour EURJPY false break price action setup trade in which I was short the EURJPY.
3 reasons why I like the short setup in this video:
• Horiztonal level at 134.35 terminated price and then pushed it lower
• We then saw a false break of 134.35 as price rallied after the initial decline from 134.35.
• After the false break and subsequent move back down past 134.35, price rallied again up to this strong horizontal level, stalled out and showed obvious rejection of this level by forming a bearish pin bar reversal. This also coincided with a 50% retracement which added confluence to the setup.
Price action signal – pin bar reversal at 134.35 – perfect short setup – sell below the low, stop above the high.
3:1 target was possible.
Second horizontal level 131.65 – market rotated back up to this level but is struggling.
Update: As I suggested in this video price did continue to push lower and eventually moved into 126.00 before pushing higher again.
About Nial Fuller
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.
Hello
You learn price action too ?
Tu forma de operar el mercado es muy efectiva.
Gracias Nial Fuller
Thanks for the videos. They do helped me a lot in improving my trading.
great explanations quick and simple
Hi,
That’s really a great job, Thanks a ton!!!!
Best Regards,
Upendra.
Great job! The videos are clear, impressive and hit the spot, no pun intended. I just found your website and am very impressed. Thanks to your efforts.
Hi, I love your forex training videos, I am learning alot about trading, thanks.
Hi Nial
Many thanks for making known the data feed you are using. The data feed I have is not the same as yours and several of the setups you describe did not appear on my charts.I have changed to Fxlite and now I can follow your videos on my computer. It will also be a lot easier to go back through your previous videos.
Regards
Alan