Thursday, March 3, 2011

Trading pin bar breakouts on the 4hr chart

The chart below is the 4hr EURJPY chart. We can clearly see an inverted head and shoulders reversal pattern that culminated with a 4hr pin bar reversal signal that led to a significant breakout above resistance and the mother candle.

This is pretty much the simplest and most effective way for anyone to trade the forex market. I really don't get why people want to use indicators and other useless-dribble to try and make sense of price movement when you can just learn price action. Weird.


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