The Authority’ on Price Action Trading. In 2016, Nial won the Million Forex fakey pin bar strategy Trader Competition. Below Is a Video of a Daily Chart Pin Bar Signal On AUDUSD Currency Pair.
What I look for on the charts before entering a trade. Please do not use this as trading advice and make your own decisions before entering any trades. In the above video, I talked about a bullish reversal setup, trading with the trend, plotting levels and trading in a “swinging market”. I am looking at the daily chart time frame in the above video and we are looking at the last few months of price data in the AUDUSD.
I draw in the key support and resistance levels on the chart first. Then it’s determined we have a sideways market overall with a short-term bullish trend. In this video, I am talking a bullish pin bar setup that formed in the AUDUSD that signaled that lower prices were being rejected and that price wants to move higher. I discuss in my courses and members area. I talk about placing my stop loss just below the pin bar low which is the typical stop loss placement on a pin bar setup. After defining your stop loss level you need to find a logical target area to place your exit target.
I typically look for a risk reward of 1:2 or greater, depending on the surrounding market structure. I close the video by talking about the fact you will have losing trades sometimes, and I have them sometimes and I do talk about them as you’ll see in my commentaryI’m not afraid to talk about losing trades. But, hopefully if you have a solid edge like price action, you can put the odds in your favor over the long-run and make money. Thanks a lot for your effort to teaching newbies like me. However, the video was breaking and not clear. Nial ,only a genius can do this way. We will get along as time goes on.
It became a very nice trade Nial, i just checked it but what i saw was that my candlechart was a bit different as your chart on the video . Can you explain how this is possible? Hope to hear a reaction Nial. Nial is the best trading course in the market, in my opinion! USD price action, I’m just blown away! Not only did this trade end in profit, but you were spot on as price took about 14 days to reach the 1. Also along the way there were many Pin Bar setups that ended up winners!
This is the best and only place for Price Action Forex. Keep up the great great work. I am really excited by your strategy, hope I will be in your members group very soon. I love your videos, I watch them over and over. This was a great trade with several price action setups along the way to enter.
At the time of this video being posted I already was up 1:2 on a previous trade but have just closed out for a 1:3. A nice little addition to my trading account. Thanks for another great one Nial! It’s very difficult to keep things simple while trading and every time I watch any of your videos I m trying to look at charts the same as you master! You are absolutely right not to care. I’ve only lately noticed how pointless it is to follow news because it only mixes your thoughts. Sure they might have an effect on the market but usually the daily price action itself is dominant.