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Pin Bar Trading Strategy for AUD/USD

Posted on April 12, 2012 by Jack Walsh under Analysis
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Chart of the Week: AUD/USD H4

Here’s the trade of the week. It took place on the AUD/USD H4 chart via support lines on the AUD/USD daily chart.

 

What we have in the chart below is an outline of a pin bar trading strategy I use to enter trades at the most optimum point.

 

The AUD/USD was coming down with the USD strengthening overall. You can see the USD gaining value across the board by taking a look at the dollar index chart(not shown in this post). The level of support was already planned out. We were waiting for price to show it’s hand at that location. As it approached the support area at the opening of the London/European session, Asian session traders pushed it away from support to form a bullish pin bar. This is one of the prime signals we use at Forex Market Master to enter trades. You can see where planning your trade has an advantage. Placing trade as close to the candle’s close as possible, we are able to place a stop only 30 pips away. In just over a day, we made a terrific profit.

 

AUD/USD Pin Bar Trading Strategy

 

AUD/USD Pin Bar Trading Strategy

 

Learn to trade the pin bar and Falso Break Out (FBO) combination profitably and consistently with the Forex Market Master Price Action and Risk Analysis Trading Course.

 

I’m currently running a special discount on our Forex Market Master Risk Analysis and Price Action Trading Course until the end of the month. Be sure to check it out.

 

For more information and further in-depth analysis of additional currency pairs, check out the exclusive ‘Members’ community that’s included with the FOREX Market Master Risk Analysis and Price Action Trading Course and lifetime membership.

 

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