Daily charts on EURUSD, AUDUSD, NZDUSD hinting move lower is ahead, although still 5 hours to go till the daily charts closed
We’ve actually spoken about these pairs in the war room market commentary,
EURUSD : Resistance above, so we’re not looking to buy into it but waiting for a correction and a bullish price action signal off a previous support level to consider entering long.
AUDUSD : Market is testing the upper weekly range high, if price breaks out of the range it will clear the way for price to move aggressively into much higher prices even a possible retest of the $1.10 highs so keeping a close eye on that one.
NZDUSD : We aren’t interested in shorting this strong market, and price is too over extended from the mean to consider buying, so we are waiting for a correction and a bullish PA signal to jump back in long, or if the market started trending downward, wait for bearish signals to form underneath swing levels.
Yes the USDJPY is testing a hot point in the market at the moment, a nice bullish signal is forming on the 4 hour chart and this all lines up with the BOJ devaluing the yen.
No what goes up must go down.
It looks that trade exploded upward for her, great work the risk payed off!
Great feeling when things work out, happy for you Jinz good work.
[QUOTE=“DnB Price Action;478997”]It looks that trade exploded upward for her, great work the risk payed off![/QUOTE]
[QUOTE=“tonyro44;479005”]Great feeling when things work out, happy for you Jinz good work.[/QUOTE]
Yeah when things work out as you planned it, it feels great. But i like to take it as i got lucky this time 
I’ve been using price action to determine entry point for MACD Divergence Reversals. Came across this thread 2 weeks ago, interested in using price action to enter trends. Can I get some pointers on this AUDCHF signal?
I attempted to enter close to the previous days open, but it’s already started moving downward so I doubt it will trigger.
I don’t use any indicators to make trading decisions so I can’t advise you how to mould price action in with your macd setup.
But on my chart when I look at AUDCHF price did reject higher prices which is a bearish price action signal, but price is currecntly located to far away from the trend mean to short from, I would advise waiting for price to correct itself and buy on strength with a bearish PA confirmation.
Are you trading the Inside Bar there? Start on the low of the mother bar? How about now, that this mother bar was broken upwards?
I set OCO order @0.86 and @0.8565 with SL @0.8610, and obviously got stop out for 10 pips loss
I’ll wait for the price to test next level @08650 and @0.8700
Not a bad signal, very large and it sticks right out at you,
I am watching EURAUD at the moment to get in short from this Bearish rejecting candle off a daily swing level…
Hey all, was looking for some feedback on this setup.
Bullish USDCZK
Pros:
Train track reversal pattern
Rejection candle near resistance
Medium term trend is up
Close to mean
Cons:
Short term trend is down
Hi Van,
Thanks for posting your trade setup.
First take a look at the market, the conditions are horrible. That chart is stuck in heavy consolidation with wild up and down movement, there is just no stability to trade from here. The Rejection candle isn’t a strong signal either, it has a heavy bearish close.
One other thing, I don’t think you’ve marked your support line effectively there, from what I can see from your chart I would place a support level at the 19.6250 area.
Regards
Thanks for that DnB!! Was hoping you’d say something against taking this trade!
I’ve got that support line marked from a 3 year weekly view, so it might not line up exactly on daily views.
Oh alright, well I only market support and resistance levels that the market has recently been respecting on the daily and weekly chart. This I believe keeps everything lines up with the current chart dynamics. Marking levels from 3 years ago doesn’t mean that’s what the market is going to respect today if you know what I mean.
Yeah I know what you mean, I’ve always viewed support and resistance as an “area” which works well for divergence trading. I’ll take your suggestion on board for price action trading.
I have this setup on the nzdusd.
- Bearish rejection candle at 3 points of resistance
a) horizontal resistance at 0.84798
b) dynamic resistance of mean
c) broken under long term ascending trendline - close to mean
- short term trend is downwards (from a record high)
- the two candles before the pinbar are a double inside day? (If i have my terminology correct)
Many US pairs having produced pin-bars on the friday of last week, however their setups aren’t favourable in my opinion.
Do you think these two events are relevant?
