Recent Fakey and Pin Bar Reversal Forex Trade Setups

Hey Traders, I 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.

Continue reading at the original source →