The AUDUSD has burst higher on the daily chart after forming a base and double bottom. Before this move higher price had been in an overall longer term down trend and had then moved into consolidation. Quite often when price reverses a trend it does not just reverse straight away and move. Price …
Price Action Charts in Focus
EURGBP Fires Off False Break & Moving Into Kill Zone | 10 Sep 13
The EURGBP has moved higher after forming a false break. This false break was a bullish rejection candle that was making a clear false break of a proven support level. Whilst the false break candle was not a valid pin bar because the nose was not long enough to meet the minimum requirements, it has …
USDCHF Daily Bearish Engulfing Bar | 12th Sep 2013
The USDCHF has fired off a bearish engulfing bar (BEEB) on the daily chart. This BEEB is engulfing only the last previous candle, but has formed after a large false break. Price at the start of this week moved lower after price formed a false break 2 bar reversal. This 2 bar reversal was making a …
