Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

AUDUSD Pin Bar + Double Bottom | Feb 21st

Hello Traders,

Quite an interesting day for trading with some really quality setups.

One that is interesting to me is the pin bar setup on the Aussie that formed on the daily. This pair launched higher in early Asian trading, but may offer a pullback into the pin bar range. The pin bar formed at the 1.0230 support forming a double bottom, so this bounce may have some legs.

audusd $aud pin bar price action 2ndskiesforex.com

Upside resistance is 1.0330 and 1.0350 which are the dynamic resistance and double top from the daily chart, so watch for corrective pullbacks into the level for possible buy signals. A failure to hold 1.0220 will setup a move towards 1.0160.