Hi Readers,
Price Action opportunities decide the recent movement in price. The behavior in price action is natural. Forex markets don’t move and will consolidate untill it find the level to push the price up and down.
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Recent behavior in Gbp/Aud pointing towards the rejection level as I have pointed out in the chart below. Rest of the price action will be explained in the next blog post . Just keep the stops tight and trade the reaction and not predictions.
Price Action depends on Pattern Rejection Attempt Price action zone & Reaction
In this post I will point out few of the areas which depends on few factors which completely tell you the reaction If there is a price action zone after the failed attempt. Mostly pinbars on weekly and Monthly timeframe are the best one to trade But they can be found anywhere.
Lets discuss all of them in Orders.
Any pattern that developed in higher times requires justification on lower time frame if they at all are reliable and that is why only few of the candlesticks patterns that work consistently in forex trading. Irrespective of pattern, location of pattern is very important. Pattern can occur on top of the trend of even at the low of the new trend beginning
I’ll cover rest of the topics in the next post update. Stay tuned for the most powerful concepts in trading If you want to make good earning trading Forex or even want to be consistent. In the mean time, take a look at top down Analysis chart based on recent Price Action in eur/usd, which identify a pattern to sell-off around 1.1290 area . Questions are always welcome. Stops should be around 1.1324
