Sunday, May 26, 2013

EURGBP Price Action: Fakey with Pin Price Action Trade Setup. Against Market Open May 26, 2013

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 A Fakey with Pin Bar Price Action Setup is spotted at the close of Trading on Friday May 24, 2013. This showed a  false break of Key resistance following an initial Pin Bar Price Action Trade Setup at the close of Trading on Wednesday May 22, 2013. However, there is a minor support just below the fakey which must be cleared for any significant bearishness. Support is seen at about 0.8450.

My Recommendation: Sell pair at about 0.8570 with stops above the Fakey Pin Bar.

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