Did you catch the latest Bearish Pin bar chart pattern on the 4 hour GBPUSD? This pin bar three candlestick pattern happened on a reversal upwards, during the down trend of this pair. This would have been a safe place to entry into a bearish or PUT trade right before the second red candlestick noted closed. Do you see the left eye, nose & right eye of chart pattern? * Please read about Pin bar chart patterns, if you need further information about their power.
Pin bars chart patterns on 4 hour, daily & weekly time frames are highly reliable & safe to enter new trades. Like all chart patterns, you don't jump on all pin bar chart patterns, but be picky and just pick the BEST ones. What are the best pin bar chart patterns? Ones that happen at major Support & Resistance Area, Price Points, Psychological numbers (more zero's in a price action number the better; like 1.45000 the price action chart number of latest noted bearish pin bar chart pattern), RSI indicator (make sure they happen in overbought > 70 (bearish) top areas or oversold < 30 (bullish) bottom areas on RSI indicator. If you utilize any EMA's or MA's like my noted EMA 8 & EMA 21 they did a EMA cross, which is another positive for a BEARISH price action. Still has room to fall this next week. Next major Support level on this GBPUSD 4 hr chart is around 1.43125ish, price action now is 1.43508.
Price action is number one, money management & understanding language of CHARTS. Wish you the best.
Pin bars chart patterns on 4 hour, daily & weekly time frames are highly reliable & safe to enter new trades. Like all chart patterns, you don't jump on all pin bar chart patterns, but be picky and just pick the BEST ones. What are the best pin bar chart patterns? Ones that happen at major Support & Resistance Area, Price Points, Psychological numbers (more zero's in a price action number the better; like 1.45000 the price action chart number of latest noted bearish pin bar chart pattern), RSI indicator (make sure they happen in overbought > 70 (bearish) top areas or oversold < 30 (bullish) bottom areas on RSI indicator. If you utilize any EMA's or MA's like my noted EMA 8 & EMA 21 they did a EMA cross, which is another positive for a BEARISH price action. Still has room to fall this next week. Next major Support level on this GBPUSD 4 hr chart is around 1.43125ish, price action now is 1.43508.
Price action is number one, money management & understanding language of CHARTS. Wish you the best.