AUDNZD

Situation over here is not clean. Sell signal in form of Pin Bar ended with hitting SL however it was correct and possible to play. Price broke above resistance and now sentiment is changed to bullish. I will stay aside for some time.

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

AUDNZDDaily-8-4-2016

EURUSD

Quite similar situation over here. Price is just below resistance and one session break above looks like fakey. There is no clear sell signal so I will not open shorts.

EURUSDDaily-8-4-2016

GBPCAD

First of GBP pairs which could give sell signal rebounded from resistance as expected but there was no sell signal. We just have to wait for another test of mentioned level and if there will be any sell signal we can open shorts consistent with strong bearish trend.

GBPCADDaily-8-4-2016

USDCHF

Pair clearly rebounded after testing last lows. We can assume this test as a fake break out of Inside Bar setup. We can open position with about 20 pips of Stop Loss and about 300 pips of Take Profit what gives RR 15:1!

YOU CAN START USING PRICE ACTION AND INVEST ON FOREX MARKET USING FREE XM BROKER ACCOUNT.

USDCHFH4-8-4-2016

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Marcin Wenus
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.

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