Before you continue, we want to make sure you understand that this is a past trade idea found inside The Price Action Club which is a premium Price Action trade signal service. This post is 1 week delayed and this idea is no longer valid but the lesson is still valid. We post this to show you what is inside the Price Action Club. It would be awesome if you join us to learn and to trade our trade ideas. We hope to see you inside the Price Action Club soon. Click here to join us…
Join The Price Action Club Here…
AUDNZD Price Action Analysis – 8th Aug 2017
AUDNZD had been choppy on the H4 chart. A strong level of resistance was on its way, which held the pair back to go towards the North. However, that level has been broken and the pair seems good enough to go to the upside to make new higher highs. Let us have a look at the H4-AUDNZD chart…
AUDNZD Price Action Analysis – 8th Aug 2017
The level of 1.07230 acted as a strong level of resistance. The price was held for number of H4 candles recently. As we see that level has finally been broken and the price continued to go towards the upside. It might go little further towards the upside. If it really does and then starts having retracement up to the level of 1.07230, then we would have to wait for an H4 bullish reversal candle to take a long entry. An Engulfing H4 bullish reversal candle would be the best one. Let us have a look at the summary of the trade…
- Buy Limit Order: 1.07200
- Stop Loss Level: 1.06650
- Take Profit Target: 1.08300
- Validity: 72 hours
- Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable
The retracement has not started yet on this setup. I assume it might need 5 – 6 candles (H4) from now for the price to come at the breakout level and to produce the H4 reversal candle. This means the signal might come at the early part of the trading day tomorrow (Sydney session). This means for many of us might have to start our trading activities bit early tomorrow than the other trading days.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: AUDNZD Price Action Analysis – 8th Aug 2017
Join The Price Action Club Here…
The post AUDNZD Price Action Analysis – 8th Aug 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
No comments:
Post a Comment