The GBPUSD has fallen much lower after forming a Pin Bar reversal on the daily chart. This Pin Bar was discussed live as it formed in the members only area by Head Coach Johnathon Fox as he personally entered this trade.
Once price broke the low of the Pin Bar, price flew lower into the near term support. This market could move lower from here, however this push into support has given the traders who entered this setup a great chance to take profit for a great way to end the year’s trading!
The chart below shows how this Pin Bar was formed against the current trend. This setup was for advanced traders only because novice traders are always advise to only with the trend. This Pin Bar was making a false break of the key resistance level which was crucial for this market rolling over.
Johnathon has just released a new video in which he discusses this trade and the strategy he used to best maximise profits. To watch this latest educational Forex price action video see here: Johnathon Fox Makes Live Trade on GBPUSD
GBPUSD DAILY CHART – 22 DEC 2012
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