One of the most powerful trading signals that price action traders can trade with is the false break pin bar reversal. When traded correctly and from the correct areas in the market, the false break pin bar can be a very high probability trading setup especially when traded on the higher time frames such as the 4hr, 8hr and daily charts.
This latest video discusses a live false break pin bar trade played on the daily chart of the AUDNZD that Johnathon posted up in the live trading blog as it formed live at the time and you can read that original post here: AUDNZD Fires Off Live Pin Bar. Price on the AUDNZD had been in a clear down-trend before making a retracement higher into a solid swing high. In just under four months, price had collapsed lower over 1,000 pips in the latest move and traders who trend trade were all over this pair looking for short trades on any time frame including the daily chart. It was at this recent swing back high that price fired off a false break pin bar, with price cutting through the resistance and snapping back lower to form the false break.
This video also goes through the more advanced aspects of price action trading and why price action traders are not simply pattern traders looking for just candlesticks or "setups" without the price action story and price action. The second half of this video explains how price winds up in this pair after the false break, what it normally means in the Forex market when this happens and how price action traders need to look out for these types of clues on their charts in future.