The weekly chart of the AUDCAD formed a very solid Bearish Engulfing Bar (BEEB). This BEEB was formed at a relevant resistance level and was also quite a large signal. Price Action traders who spotted this signal would have noticed it was a sign of weakness and shorted this pair. Price has broken …
AUDUSD Pin Bar: August 2012
The AUDUSD has formed a small Pin Bar on the daily chart. This pair has been in an uptrend of late and rotations lower have ended with a reversal back higher with the trend continuing. The Pin Bar reversal is formed from the near term support level that has held in the past as proven resistance. …
GBPUSD Stuck in Range
The GBPUSD has been trading in a tight range the last couple of months with price unable to move freely either higher or lower. Markets that are ranging can be some of the toughest markets to trade and because of this the best play is to sit aside until price breaks out one way or another. When …
