Last week the USDCHF formed a very solid Bearish Engulfing Bar at resistance. Price has now sold of and given Price Action traders a chance to take profit. Price is now at recent support. If price breaks this support we may see a sustained move lower, however if this support holds a retest of the …
Price Action Charts in Focus
GBPJPY Forms Pin Bar/Engulfing Bar Against Trend
A lot of the JPY pairs have formed bearish bars on the daily charts. These bearish signals come against what has been a very strong uptrend. The GBPJPY has formed a Pin Bar/Bearish Engulfing Bar. This bar is quite small compared to the large move up. Trading against the trend can be littered …
GBPJPY Recap & USDCAD Pin Bar
Last week we posted about the bearish engulfing bar on the GBPJPY. This came of to the downside and hit the recent support area. Notice how price fell into a very confluent zone where traders could look to take longs with Price Action. This level was the 50% swing point, rejecting the Very Big Round …
