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 This post is 1 week delayed and this idea is no longer valid but the lesson is still valid.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…
EURAUD has been trapped within a Down trending channel as far as the H4 chart is concerned. The price had a rejection. It seems that the price is heading towards the South again. Today, the pair produced a massive H4 Bearish candle. Thus, an inside bar(H4) might help the pair make new lower low. Let us have a look at the H1 EURAUD chart…
See those massive H1 bearish candles. The price breached through the level of 1.49100. As it seems that, the price is going back to that breakout level for a correction. If it does, and produces an H1 Bearish Candle, then selling the pair would get us some green pips. Let us have a look at the summary of the trade
- Sell Limit Order: 1.49100
- Stop Loss Level: 1.49400
- Take Profit Target: 1.48390
- 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
This trade setup is a combination of H1 and H4 chart. We have to wait until the current H4 candle to be finished within the potential Support level. We will get an H4 inside bar then, which is an excellent signal to ride on a trend. Once we get the H4 inside bar, then we wait for that H1 Bearish Engulfing Candle to be produced right from that support level. If these two conditions are met, then it would be an excellent sell signal. If one of these is missing, then the trade setup might take more time to hit the take profit level or might not go there at all.
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. EURAUD Price Action Analysis – 18th Sept 2017
Join The Price Action Club Here…
The post EURAUD Price Action Analysis – 18th Sept 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
No comments:
Post a Comment