Although I have position opened here since September 18th and it is making some profit, yesterday showed up another sell signal. This time at local resistance there is very nice Pin Bar. If I didn’t have position already, I would set sell limit on 50% retracement of this candle but it must be 50% secured before going to last bottom.



Buy signal also on GBPAUD. Daily candle is a pin bar which is almost perfectly on support. Trend is bullish and it is worth to consider long positions on 50% retracement. Target Point is about 500 pips and Stop Loss 120. You can go to shorter time frame and look for position with smaller Stop Loss there.



It looks like I opened position too soon and it reached Stop Loss. I will observe price behavior all the time but more likely will be opening position from D1 chart. You can start using Price Action and invest on Forex market using XM broker.



Cable stays between two quite close to each other levels. For now I don’t see chance of opening positions here, I have to wait for a break below which is more likely.



Yesterday there was signal which I missed. It was a Pin Bar on the resistance, another one tested it on 50% and then there was a break. Now I will not look for signals because macro data is soon.

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

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Next articleDAX – October 2nd 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.