The Kiwi has broken through its supply zone after a failed Fakey with Pin Price Action Setup. A few of my students felt they had to trade that setup but I had cautioned against it and gave an extensive lesson on why not to in my advanced price action class. The Pin bar that was supposed to be the trigger had closed above a significant zone, which meant sellers couldn't push the price far into an area that would have triggered off a sell on the pair. Subsequently, the bulls still took charge and pushed prices above the Supply Zone and above the high of the supposed trigger Pin bar candle, hitting many stops of those who may have gone short on it. Following this scenario, fresh bullish intraday setups would be sort at about the New support.
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