bears are in control and that they are likely to stay in control, then you can sell (short). The opposite applies for a bullish preceding trend which would show bulls (buyers) trending towards resistance, as you see below. The key is to only take the very best pin bars setups and always maintain a proper risk to reward ratio. So if you want a simple Forex strategy, keep reading.
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When you spot a year or all-time high/low you can place an area there even if it has only once bounce. We can see in this daily chart of EUR/USD two successive pin bars testing a previous support and resistance level and then resuming downward movement, pin bars occur in all market conditions; up trends, down trends, and range bound. If you entered too early, you would have failed this trade. In this article, I share my Forex Scalping Strategy. The most common downfall of todays traders is over complicating their strategy.
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