Today a slightly shorter review of potential Price Action setups since most of the signals are either completed or price drawn away from the execution level. Here we go:
The pair broke through the support. The Inside Bar has been set up, but it is important to remember that this is unique time on the market when the time was changed from summer to winter and for a short period of time a false Sunday candle will appear. It should be noted, because many brokers have this candle all the time and many of the signals are simply wrong.
There is no setup here even though I drew the correct signal, it is created by this short anomaly.
On the pair of Euro to Yen a proper Inside Bar setup can happen. If it will, you can play it in 3 ways:
- break up and close above = long
- hit the bottom and close below = short
- hit the bottom and return to the range of the mother candle = long
However, if the price just reflects from the support and a PA buy signal occurs, you will be able to open long immediately because the pair is still closed in consolidation.
For the second time pair tests the resistance. If it breaks it and the candle closes above then it is worth looking for a long on H4 chart. But if the price reflects and goes down and there is a sell signal from Price Action on chart D1, then I will consider short.
For trading with Price Action I recommend to try XM broker, which has 5 candles per day and it offers 30USD to deposit without a deposit and you can test it: LINK