If you are interested in Price Action Strategy description, you can read it here.

AUD/JPY

Japanese Yen decreased strongly before the weekend which resulted in a test of a resistance. It is a really strong level, which stopped the increases four time in a row. If another Price Action signals shows on the daily TF, we will go short.

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Alternatively, if price breaks the resistance and closes above we will look for longs. Of course potential entry after downward correction and purchase signal on the H4 chart.

AUD/USD

Candle marked in green can be treated as a sell signal, however the local support (didn’t marked on the chart as it is less important), may stop the declines and the RR ratio would be too small to open the position.

EUR/CAD

Sell signal at EUR/CAD. Price broke below Inside Bar pattern, however to open the position SL should be 140 higher and TP 200 lower which does not give enough risk reward ratio to open the transaction. If another upward correction shows, maybe then we will be able to go short with smaller SL.

GBP/AUD

Another surprise and upward reaction. Resistance zone (previous support) was quite strong and I am disappointed by the price’s behavior. Now we have to wait for further increases and look for short opportunities below the next resistance.

GBP/JPY

We had really great selling signal (pin bar candle under the resistance), but Friday brought decisive upward move. Impressive candle with 450 range brought GBP/JPY once again between support and resistance. If selling signal shows (D1 TF) I will consider short positions. If price falls, I will observe H4 chart and price behavior near the support. After purchase signal we can go long.

GBP/USD

Cable gives opportunity to look for shorts. Pin bar occurred not exactly at the resistance. The next selling signal from D1 will be used to sell the currency pair.

USD/JPY

Another pair and another jump over the important resistance. Price seems to move to another one. The main direction is still south, so if selling signal shows near 113.80 I will consider selling the market.

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Comparic.com Editor-in-Chief. Trading since 2004, professionally connected with Forex market since 2006. Fan of technical approach to the markets – currently focuses on Ichimoku Kinko Hyo and Price Action strategies. He focuses on favorable risk-reward ratio in his own transactions. Speaker at many conferences on investment in capital markets, as a lecturer he cooperates with the largest brokerages in Poland and in the world. Vice President of the FxCuffs Foundation – Education and Development of Financial Markets.