Continues winning streak Price Action system. Yesterday, Take Profit reached NZDUSD, but still write about it because it appeared to be an interesting signal.
AUDNZD
Amazing candle on a pair of Australian Dollar to New Zealand Dollar. Very large pin bar and explicit rejection of support. Of course, the candle is a bit too much to play it, but after a 50% correction position should pay. Stop Loss it will be around 90 pips and Take Profit 350 which gives a potential transaction 4:1.
If you are interested in Price Action Strategy description, you can read it here.
AUDUSD
On a pair yesterday opened a short position after ambiguous signal about which I wrote in yesterday’s review. However, Thursday’s candle does not have any doubt, a nice pin bar on the resistance and clear signal to play short.
YOU CAN START USING PRICE ACTION AND INVEST ON FOREX MARKET USING FREE XM BROKER ACCOUNT.
NZDUSD
At Kiwi long position came in the 11th session of to Take Profit. Opening signal is marked in green – it was a dislocation of the Inside Bar and candle pin bar. Failed to open the position immediately but only on the next candle and a downward correction.
Yesterday’s candle is a clear pin bar as in AUDNZD. By playing a pending order on 50% retracement of pin bar with the following parameters: 85 pips SL, 300 pips TP.