All Blog Posts Tagged 'pin' (59)

CADJPY Offers Up a Bearish Engulfing Day at Key Resistance

CADJPY has been locked in a 200 pip range since early February of 2015. This range commenced after the pair lost nearly 1,500 pips between December of 2014 and late January of 2015. 

Last week the pair gave us a bullish inside bar + pin bar combination at the 94.35 key support level. This setup was traded by Daily Price Action members, netting us 130 pips. 

Fast forward to yesterday's price action and we can see that the pair put in a bearish engulfing day on the back of FOMC…


Added by Justin Bennett on April 9, 2015 at 1:22am — No Comments

Price Action Setups – AUDUSD, EURAUD and GBPJPY

The AUDUSD finished the day lower, forming a bearish pin bar on the daily chart. The next level of possible support looks to come in around the .922 level. This level is represented by the lows from late March / early April. Below this level, the .913 may prove as support. The pair is still looking fairly constructive in the short to mid term, however we are still making lower highs and lower lows in the longer-term.

audusd daily price action chart

The EURAUD finished today with a…


Added by Justin Bennett on April 29, 2014 at 12:00am — No Comments

NZD vs USD Pin Bar At Double Top Resistance

Looking at the NZD vs USD on the daily we can see the resistance at .85442 where price has pushed up to this level but failed to break this level on two consecutive days with the close of Thursday and Friday. The bears have been very aggressive at this level as price rose as…


Added by ChaosTrader63 on March 15, 2014 at 8:00pm — No Comments

Chart lesson in action.... Ideal bearish pin bar GBP/CAD

Added by ZeusFXTrader on December 15, 2013 at 5:30pm — No Comments

Reasons Why Pin Bar Setups Fail. Find Out How To Identify Profitable Pin Bar Formations

The pin bar candle  formation is a price action reversal pattern that shows that a certain level or price point in the market was rejected. once you get acquainted with the  skill of being able to correctly spot a profitable pin bar trade setup, you would be amazed just how profitable this setup can be. Lets first go over what a pin bar…


Added by Henry nnalue on August 20, 2013 at 11:09am — 1 Comment

AUDUSD Long? What do you think?

The AUDUSD has been in a constant strong downward movement over the past few weeks, and there's been good money to be made selling this pair.

However, we're at a horizontal level on the weekly timeframe, and are obviously overextended. Price is forming a bullish pin bar on the daily timeframe and has…


Added by Andrew Hewerdine on May 29, 2013 at 11:31am — 8 Comments

Weekly Price Action Highlights | Nov. 18th - 23rd


Attempting to bottom and make some headway to the upside, the EURUSD failed to clear the 1.2800 role reversal level which was the Oct. swing lows. For now, the pair is stuck between 1.2800 weekly highs and 1.2659 lows which was the pin bar rejection on Tuesday.  So bears can look to sell any weak rallies up to 1.2800 while bulls can…


Added by 2ndSkiesForex on November 18, 2012 at 10:01pm — No Comments

GBPUSD Piercing Pattern + Pin Bar Combo | Nov. 15th


Similar to how the Euro I discussed on Tuesday reversed with an engulfing bar + pin bar combo, the Cable is possibly attempting to bottom after losing ground for six days in a row. After forming a final flag pattern to end yesterday and start today, the pair rallied off of 1.5825 with a strong bullish piercing bar,…


Added by 2ndSkiesForex on November 16, 2012 at 1:18am — No Comments

Price Action | Euro Pin Bar off Resistance | Nov. 14th


As I had discussed in yesterday's market commentary, the pin bar and engulfing bar combo highlighted did produce higher prices for the Euro, and went to the first resistance level I mentioned yesterday (around the 1.2763 area). Some of the course members got in on this trade and profited nicely from it…


Added by 2ndSkiesForex on November 15, 2012 at 1:57am — No Comments

Dow Jones Key Support Comes Under Pressure | Oct. 29th

Dow Jones

Skynet was offline today, along with all human traders as hurricane Sandy forced US exchanges to close today.  Regardless, a key support level in 13000 is coming under pressure for the Dow Jones.  Although a decent sized pin bar formed Friday off this level, pressure remains on the major index, and should the key support fail, 12750 and 12500 will be under attack shortly after.

Bears currently have control so …


Added by 2ndSkiesForex on October 29, 2012 at 10:12pm — No Comments

Dow Jones Forms Large Bullish Pin Bar | Oct 22nd

Dow Jones

After the bloody hit the Dow Jones took on the 25th anniversary of Black Friday, the US index formed a large bullish pin bar, and a fake out in the process. This could very well have trapped traders short just below the 13300 support level.

What I am noting is how the DJ…


Added by 2ndSkiesForex on October 23, 2012 at 12:29am — No Comments

Weekly Price Action Highlights Oct. 21st - 26th


After a 5 day rally, the GBPJPY found resistance at 128.25 forming a pin bar rejection in the process. Although the last major swing was down and formed a LL (lower low), the last upswing formed a HH suggesting an increase in volatility. Key resistance for bears lies between 128.25-128.81 so bears can watch for…


Added by 2ndSkiesForex on October 22, 2012 at 12:01am — No Comments

Weekly Price Action Highlights Oct. 14th - 19th

*Note: I am back from a week vacation so expect a full week of articles and market updates.


Stuck in a short term channel, the GBPJPY has had more impulsive selling than buying within this channel so am slightly more bearish than bullish.  Notice the two large rejections towards the upper end of the channels with the last one forming a…


Added by 2ndSkiesForex on October 14, 2012 at 10:02pm — 5 Comments

Forex Price Action - Kiwi Engulfing Bar | Sept. 26th


With the dollar gaining vs. the majors all week, the Kiwi-Dollar has been the most resistant. Today it formed a double bottom at a key role reversal level in .8187.  The 1st attempt at this level printed a pin bar which pushed prices back about 100pips.  However, the second attack (today) on the level stopped right at it. After forming a smaller pin bar rejection off of it, it then formed an outside bar and ended …


Added by 2ndSkiesForex on September 26, 2012 at 10:20pm — No Comments

Weekly Price Action Chart Outlook | Sept. 23rd-28th


After having its first weekly bearish close in six, the Euro ended the week posting an inverted pin bar that is also doubling as an inside bar.  It has to be noted a bullish inverted pin bar in a bearish pullback is a failed attempt to rally.  However, even though the rally failed, it indicates there is some buying…


Added by 2ndSkiesForex on September 23, 2012 at 8:32pm — 3 Comments

Forex Price Action - Kiwi Forms Pin Bar Setup off Support | Sept. 20th


Retreating from the recent swing highs over the last 5 days, the New-Zealand dollar formed a large with trending pin bar off a key role reversal level today. It should be noted how the day started off very bearish for the pair, which reversed gains sharply after touching the key role reversal level at .8210 and closed up on…


Added by 2ndSkiesForex on September 20, 2012 at 11:00pm — 4 Comments

Forex Price Action | Aussie Pin Bar Pattern off Support | Sept. 18th


In keeping with the Aussie which is one of my favorite pairs, the Antipodean currency has retreated from the major swing high resistance level parked at 1.0612 lately, selling off over the last two days towards the 1.0400 level I mentioned from yesterday.  In the process the pair formed a pin bar pattern off the…


Added by 2ndSkiesForex on September 18, 2012 at 9:57pm — 1 Comment

Forex Price Action - Aussie Pin Bar Setup Comes Off | Sept. 17th


The AUDUSD pin bar setup I had discussed in yesterday's weekly forex commentary came off, pretty much selling from the market open throughout the day, losing about 85pips in the process.  Accompanying this signal was a combo pin bar/engulfing bar on the 4hr time frame which was a rejection rejection off the key…


Added by 2ndSkiesForex on September 17, 2012 at 10:42pm — No Comments

Weekly Price Action Highlights | Sept. 16th-21st


Climbing for both 7 for the last 8 days and 7 of the last 8 weeks, the Euro has looked impressive being given the go-ahead from Bernanke and the German Court.  With the trend being so strong, I'm really looking for longs.  However, the price action is feeling a bit parabolic and climactic at this point.

Usually …


Added by 2ndSkiesForex on September 16, 2012 at 7:52pm — No Comments

Forex Price Action - Euro Forms Combo Pin Bar + Inside Bar | Sept. 4th


Since the Euro ended last week with a false break, over the last two days the regional currency formed an inside bar, while today posting a combo pin bar.  What I find interesting about these two is how the…


Added by 2ndSkiesForex on September 4, 2012 at 9:48pm — No Comments

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