Japan reported its preliminary GDP report for Q2, and it was great: 1% q/q growth rate, equivalent to around 4% annualized. This is a very high growth rate in a developed country. Expectations stood at around 0.6% and Q1 saw only 0.3% growth. But USD/JPY is actually on the rise, trading around 109.55 and getting [...]
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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 This post is 1 week delayed and this idea is no longer valid but the lesson is still valid.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…
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USDCHF broke an up trending H4 Trend line last week. The price then kept going down. The price has been having correction now. There is a level nearby, which has the potential to be a level of resistance. This means the pair might make another move towards the South soon. Let us have a look at the H4 chart…
Have a look at the chart. The candle that broke the significant level of support was a massive bearish candle. The price came up to 0.96100. Then, it has started having correction. If the price goes up 0.97100 and the level produces a bearish H4 Engulfing candle, then selling the pair would get us some green pips.
Let us have a look at the summary of the trade
Many traders take their entries on a chart, but come out with their profit by following smaller time frames’ chart than their trade setup’s charts. This is never going to be handy in the end. They would take bigger loss, but take smaller profit than they are supposed to. It might be all right for a time being if they have a high percentage of winning trades. Then, again, it is needed that the traders know how to let their profit run. Especially, if they want to make a living out of trading, they have to learn the art of being with the winning trade as long as possible.
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We hope that you enjoy our Free Forex Trading Signal today: USDCHF Price Action Analysis – 10th Aug 2017
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The post USDCHF Price Action Analysis – 10th Aug 2017 appeared first on Advanced Forex Strategies.
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…
GBPUSD has been bearish on the H4 chart. The price broke a Daily bullish Trend line and since then the H4 chart has kept making lower lows. As things stand with the pair, the price might make another bearish move from an important level of resistance. Let us have a look at the H4 GBPUSD chart…
GBPUSD Price Action Analysis – 9th Aug 2017
See that massive H4 bearish candle. Then, the price continued to move towards the downside. The level of 1.30200 has the potential to be a flip over resistance. If the H4 candles hold the level and it produces an H4 Engulfing candle, then we would have to wait for a breakout at 1.29510 to take a short entry. Let us have a look at the summary of the trade…
This trade setup has to be triggered today. There is another bullish Trend line on the Daily chart. Thus, the space for the price will be squeezed to travel towards the downside if it takes too long to produce the entry signal. Although it seems a huge gap between the resistance and breakout level, but H4-GBPUSD sellers have been very active as far as the H4-GBPUSD chart is concerned. Thus, there is a good possibility that we get the desired correction up to the resistance level and then the breakout. However, if it does not get triggered today, we might as well leave the trade setup.
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: GBPUSD Price Action Analysis – 9th Aug 2017
Join The Price Action Club Here…
The post GBPUSD Price Action Analysis – 9th Aug 2017 appeared first on Advanced Forex Strategies.
