GBPUSD – Sterling / dollar long-tailed pin bar buy signals
The GBPUSD formed a long-tailed bullish 4 hour and daily chart pin bar buy signal today after reversing intraday losses into the New York close. Note the support down near 1.6680, this was an important level that the market has clearly and aggressively rejected today, and this is also in-line with the broader daily / weekly bullish trend. As discussed in the GBPUSD video I posted today, I am looking for a retrace ‘tweaked’ entry down near 1.6700 – 1.6680 area and will look to target the resistance up near 1.6820 area with stop loss well below the pin’s low, down below 1.6640.
[img class=alignnone size-full wp-image-30772 src=http://cdn.learntotradethemarket.com/wp-content/uploads/gbpusd81.png]GBPUSD 4 hour chart long-tailed pin bar buy signal and potential retrace ‘trade entry trick‘ down near 1.6700 – 1.6680 area.
[img class=alignnone size-full wp-image-30773 src=http://cdn.learntotradethemarket.com/wp-content/uploads/gbpusd4hr.png]
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