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GBPAUD Mean Reversion H8 Inside Pin Bar

by Jeriah Tiras K, February 9, 2021

EUR/USD H4 Price Action

by Jeriah Tiras Kwok February 9, 2021









Analysis Method:

Price Action


Mean Reversion H8 timeframe Bullish Pin bar spotted rejecting confluence of trendline, horizontal, and Daily 20 EMA support. GBP Currency has been pretty strong across the board.

Trade Plan:

Entry 1.7841, SL 1.7797, TP 1.7988

Risk Management:

0.4% of account balance.


View previous comments

  1. There is a lack of bullish momentum on this setup. The close on the Daily timeframe looks slightly bearish. There was also a H8 False Break that formed. I’m out of this trade to rethink this pair.

  2. You’ve got tweezer bottoms on the 1-hour too but I’m waiting for a potential fakeout to the bottom with my long limiit order at 1.78050 as this would pickup orders from 1hr and 30min demand zones.

  3. Another scenario is price could test the low of the Bullish Inside pin and totally breakdown from it forming a bearish outside bar at the end of the H8 session. But I prefer the Long scenario because of how strong the GBP currency is overall , and also the distance of the H8 pin to the 10 and 20 EMAs.


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