When the NZDJPY opened on Monday morning it had formed a large Gap lower. Gaps can quite often act as support and resistance. When price moves up to test gaps, price can often produce reversal candles rejecting the gap and moving in the opposite direction. In this case price moved higher to test the …
Price Action Charts in Focus
CADCHF Bearish Engulfing Bar Smashes Very Big Round Number
The CADCHF has formed a large bearish engulfing bar (BEEB) on the daily chart. This BEEB is a huge engulfing bar that is smashing through a key area and making a break out of the Very Big Round Number (VBRN) of 0.9000 which has been a key level on this chart. Very Big Round Numbers often act as key …
USDCHF & NZDJPY Recaps
In recent posts we have discussed setups on both the USDCHF and NZDJPY. I have had questions on both of these so in todays post I am going to recap these setups. USDCHF INSIDE BAR | 24 July 2013 The USDCHF had fired off an inside bar that was in-line with the recent strong down-leg and …
