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Sunday, November 18, 2018

[FOREX TIP] EURUSD Price Action Analysis – 19th Nov 2018

EURUSD has been Bullish for the last 4 days. The last day’s Daily candle was a big Bullish candle, but it seems that the price closed within a level of Horizontal Resistance. Moreover, the same level is a level of Resistance of the Down Trending Channel, which has been followed by the D1 EURUSD chart. It suggests that the pair might make its next move towards the South. Let us have a look at the D1 EURUSD chart.

EURUSD Price Action Analysis – 19th Nov 2018

EURUSD Price Action Analysis – 19th Nov 2018

The level of 1.14200 is the level of Horizontal Resistance. The price had reacted to the level earlier on a number of occasions. The Down Trending Channel’s Resistance lies right over there as well. This makes this point a very significant point called Dynamic Resistance. If we get a Bearish Engulfing Daily Candle right on the Resistance level, then selling the pair would get us green pips. Let us have a look at the summary of the trade

  • Sell Limit Order: 1.14200
  • Stop Loss: 1.15200
  • Take Profit: 1.11400
  • 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

Since Friday’s Daily candle was a long bullish candle, so we might not get that Daily Bearish Engulfing Candle today. It might be produced tomorrow or even day after tomorrow. In a word, we have to be very patient here to be able to take the entry. Same goes at the time of profit taking as well. We might have to wait 4 to 5 days to achieve the target; must use a trading lot that suits our balance since all the equations are based on the Daily chart here.

 

The post EURUSD Price Action Analysis – 19th Nov 2018 appeared first on Advanced Forex Strategies.



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[FOREX TIP] AUDUSD Weekly Bullish Butterfly Harmonic Pattern – 18th Nov 2018

AUDUSD Weekly Bullish Butterfly Harmonic Pattern - 18th Nov 2018

AUDUSD Weekly Bullish Butterfly Harmonic Pattern – 18th Nov 2018

>>> This is How Smart Traders are Profiting from the Market Now! <<<

We have a Completed Bullish Butterly Harmonic Pattern in AUDUSD.
Since late Jan 2018, AUDUSD has been on a steep decline.
Now the bottom is finally here…perhaps. We are still not certain but there’s
good signs of reversal.

Remember… this is on a WEEKLY chart. So be prepare to be in position for
some time if you decide to take on this trade.
Enter into position at D (or as close as possible to it).
You can choose to either enter now at market order or use a limit order to enter.
We target to exit with a Take Profit Target at the next support/resistance level.
Good luck with the trade.

  • Entry Price: 0.73300 (or as close to it as possible)
  • Stop Loss: 0.71100
  • Take Profit Target: 0.74900

Want to learn how to trade Harmonic Patterns?
This is how we find our trades with less than 5 minutes per day.
Download Our Free Harmonic Trading Strategy Here

 

The post AUDUSD Weekly Bullish Butterfly Harmonic Pattern – 18th Nov 2018 appeared first on Advanced Forex Strategies.



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