Yesterday in this blog we posted about a key level on the GBPAUD. To see that post see click here: GBPAUD Key Level
After making that post, price moved higher into the key zone for bears to come in and sell. Price on the 1hr chart formed an obvious bearish price action signal for traders to join in. This price action signal was formed with the trend and at a logical area. These are the two factors that are very important to making a high probability trade. I recently made an article on high probability price action trading which you can see here: High Probability Price Action Trading.
After this Pin Bar formed price smashed lower and fell into support. This move lower has given price action traders the chance to take profit or at the minimum move to protect their capital.
GBPAUD 1HR CHART – 14 NOV 2012
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