The weekend has arrived…. we can make a small summary of this passing week. Due to the holiday on Monday, this week was a little shorter in terms of trade. Tuesday wasn’t very volatile either, so it was only after a long search for trading opportunities that I found in the evening on the AUDJPY, an Inside Bar formation, which offered hope for an interesting setup based on the Price Action+MACD strategy.
AUDJPY H4 23-26.04.2019
In the analysis “AUDJPY – exit from the Inside Bar can herald declines” I wrote: “The first larger bearish candle from 18.04 formed with the next one the Inside Bar formation. On chart H4, the price fell below the average EMA144 and is likely to fall to the nearest support starting at 78.75.”
The market acted exactly as I described in the analysis after the IB retest from below the price flew to the support mentioned in the analysis and after defeating it reached the next demand zone, making a total movement of a 120p range exceeding the “plan” by 50p.
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