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Monday, December 3, 2018

[FOREX TIP] AUDUSD Price Action Analysis – 4th Dec 2018

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AUDUSD has been bullish on the H4 chart for the last 4 trading days. The pair made another breakout towards the North on the H4 chart. The buyers of AUDUSD must be eyeing on the pair to find out buying opportunities. In fact, the price is approaching towards a significant level, which has the potential to be a level of support. If that level is held as a support level and it ends up producing an H4 bullish engulfing candle, then the price again would head towards the North by offering a long entry. Let us have a look at the H4 AUDUSD chart…

AUDUSD Price Action Analysis – 4th Dec 2018

AUDUSD Price Action Analysis – 4th Dec 2018

The chart clearly shows that a breakout took place at the level of 0.73380. It was in fact a level of Double Top of a bigger chart as things look. Now if the price comes back to the level and produces an H4 bullish engulfing candle, then buying the pair would get us some green pips with a good risk and reward ratio. Let us have a look at the summary of the trade…

  • Buy Limit Order: 0.73380
  • Stop Loss: 0.72800
  • Take Profit: 0.74200
  • 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

We are at the first week of the last month of 2018. This month is supposed to be slow. However, it was an excellent day to start the week. Some pairs including Gold made some big moves. Let us hope that it stays like that at least two/three more weeks. If things go as it usually does, the market will be sluggish in the last week of December.

We just this powerful Price Action Scanner to find us the best trades everyday.

The post AUDUSD Price Action Analysis – 4th Dec 2018 appeared first on Advanced Forex Strategies.



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[FOREX TIP] EURNZD Price Action Analysis – 3rd Dec 2018

EURNZD has been very bearish on the H4 chart. The price made another breakout towards the South on Friday. Today’s first H4 candle seems to be bearish so far. However, EURNZD sellers are going to wait for a pullback to take a short entry from a selling zone. Let us find out where that zone is. Let’s have a look at the H4 EURNZD chart.

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EURNZD Price Action Analysis – 3rd Dec 2018

EURNZD Price Action Analysis – 3rd Dec 2018

As the chart clearly suggests that the price made a strong breakout at the level of 1.65100. The level is a flip over resistance where the price reacted heavily earlier. Thus, the sellers would love to see the price go back to the level and get an H4 Bearish engulfing candle right at the level to take a short entry. Let us have a look at the summary of the trade.

  • Sell Limit Order: 1.65100
  • Stop loss: 1.66300
  • Take profit: 1.63000
  • 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 price has been very bearish on the H4 chart, but H4 traders must wait here. Yes, the price might never come back to the recommended level and offer us the short entry, but it keeps going down. Then again, sellers are to wait here to sell the pair from a safer zone. As a trader, we have to make that sure every single time. It does not matter how good a pair looks to go short or long, we must buy from the safest support and sell from the safest resistance zone. If that does not happen, we skip taking an entry.

We just this powerful Price Action Scanner to find us the best trades everyday.

The post EURNZD Price Action Analysis – 3rd Dec 2018 appeared first on Advanced Forex Strategies.



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