There was some profit taking in today's trading on the GBPCHF as price failed in its attempt to reach 1.4600, closing below 1.4500 for the second day running, the resulting Pin Bar, however, is what I term a stranded Pin Bar. Appearing too soon after the trend changes from bearish to bullish. It would be very un-wise to trade this pair as the lower time frames are yet to show any breakout. This sort of Price Action Trade Setup many times dont pull off as expected leaving many price action traders wondering why. These are things I teach in the advanced Price Action Class. For the bears to have a say in this market, we may need to find another candle, failing to reach the high of the previous day and and also closing below 1.4500. In the meantime, I recommend that traders ignore this setup.
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