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Reasons why this price action forex pin bar failed. 
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Joined: Wed Mar 30, 2011 11:12 am
Posts: 70
Post Reasons why this price action forex pin bar failed.
Reasons why this price action forex pin bar failed

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Forex Pair: Nzd Jpy
A double pin formed at the 365ema. However we do not take these kind of trades and sure enough, the pin bar failed.
Some reasons:
- The pin bar blended into the whole picture. If you zoom out, you can’t see the pin .
Remember we want to take pins that protrude out from surrounding prices. This one was relatively beside the surrounding bars.
- A mountain of resistance blocking its upwards path –
the 200, 150 ema, 10 and 25 ema.
- Pair is in a downtrend as shown by the 10 25 strategy.
Therefore although we have the 365 moving average as the backing. This is a trade where we would not enter.


Ezekiel Chew


Fri Aug 31, 2012 12:04 pm
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Joined: Wed Mar 30, 2011 11:12 am
Posts: 70
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Post Re: Reasons why this price action forex pin bar failed.
A complete professional forex trading system that even newbies can apply instantly.

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Thu Nov 08, 2012 4:00 pm
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