Pair is getting slowly to lower band of wide consolidation in which it is for more than 3 months. It is worth to observe price behavior and look for Price Action buy signal on daily chart.



Pair is breaking key resistance which was stopped for 7 times on D1 chart. Perfect scenario will be:

-close of daily candle above resistance;

-correction to mentioned earlier area;

-buy signal on H4.

Then you can open long positions, its direction will be consistent with trend and momentum.



Pair is near support area. If it will drop even lower maybe there will be buy signal which will be consistent with trend on this pair. You can start using Price Action and invest on Forex market using XM broker.



About this signal I was writing on Monday (here) and position could be opened. Unfortunately I didn’t decided to do that, that’s a shame because this position could bring 3% of profit.



Pair is getting closer to the support. If it will be broken it will be great chance to open short positions consistent with the trend. However, if there will be clear buy signal on D1, you can consider go long.



Cable is also on the support. Here is the same situation as in pair before, but buy signal can show earlier.



On Loonie there was sell signal, I wrote about it on Friday (here). However I didn’t opened this because it was against strong bullish trend. As you can see it is worth to play with trend because it would have ended with stop loss. Now it is worth to wait for bearish correction to support area and open long position on H4 or D1 chart.

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

Error, group does not exist! Check your syntax! (ID: 3)
Previous articleDAX – September 29th
Next articleTrading for beginners – AUDUSD – September 29th 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.