{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/charts-in-focus-weekly-trade-ideas-summary-4th-sep\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/charts-in-focus-weekly-trade-ideas-summary-4th-sep\/","headline":"Charts in Focus Weekly Trade Ideas Summary – 4th Sep","name":"Charts in Focus Weekly Trade Ideas Summary – 4th Sep","description":"Charts in Focus Weekly Summary – 4th Sep Markets discussed today; USDCHF, EURAUD, AUDCHF & NZDJPY. Note: We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 Download Free New York Close Charts Here   USDCHF DAILY CHART Rewards Versus Risks Price on the USDCHF has formed a smallish bullish rejection candle after selling off […]","datePublished":"2018-09-04","dateModified":"2019-08-05","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2018\/09\/euraud-daily-chart-in.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2018\/09\/euraud-daily-chart-in.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/charts-in-focus-weekly-trade-ideas-summary-4th-sep\/","about":["Price Action Charts in Focus"],"wordCount":569,"articleBody":"Charts in Focus Weekly Summary – 4th SepMarkets discussed today; USDCHF, EURAUD, AUDCHF & NZDJPY.Note: We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 Download Free New York Close Charts Here USDCHF DAILY CHARTRewards Versus RisksPrice on the USDCHF has formed a smallish bullish rejection candle after selling off aggressively lower.This small bullish rejection is formed at an important support level that goes back quite a way, however; before this rejection of support we can see price had moved with large and aggressive selling lower.As we discuss in the \u2018How Professionals Stop Hunt\u2019 lesson, these small rejection candles will often form after a large move higher or lower as a way for the market to take a breather.The portion of the market who has made a profit will often cash in these profits and the selling pressure can become less, causing a sideways and rotation move back into value.When making trades against strong moves or momentum we can often be sucked into small pin bars because they look like they have a lot of space to move back into. However; often when the profit taking has finished, the market will continue in the same direction it was already moving.Yes, these do work out on occasions because quite often they are at support or resistance, but we must pay attention to the overall market story and work out whether the rewards we could potentially receive from the trade is worth the risk in playing it.   EURAUD DAILY CHARTPotential Stall, Break and RunOn the flip side we can see price has run higher quickly on the EURAUD before stalling at a major resistance level.This level is a proven area of resistance that you will note on your daily charts.Whilst solid trades could be found selling short, if price can break and close higher through this level, then there is a lot of room for price to quickly run and move higher into.  AUDCHF DAILY & WEEKLY CHARTSBreak and Re-testAfter price popped higher and bounced from the major support level in this market, it quickly reversed and smashed through the same level closing strongly below it.As both charts show below; the sell-off has been extreme over the past week and the major daily level could act as a major re-test and value area, should price rotate higher and make a test of the old support and potential new resistance.   NZDJPY DAILY CHART\u00a0Commanding Bearish Engulfing Bar = BEEBPrice on the NZDJPY moved into a nice swing high where we can see on the daily charts price had acted previously as a support level.After rotating into this level and making a test of the new resistance, price smashed lower with a strong close, forming a Bearish Engulfing Bar = BEEB.Note how the candle on the BEEB closed strongly towards the bottom \u2153 of the candle indicating that the sellers were still in control when the engulfing bar closed.If price can continue to move lower the next major support comes in around the 72.35 area.   Charts in Focus Note: All views, discussions and posts in the ‘charts in focus’ are the view of Forex School Online and are not recommendations or trading advice. All posts are general in nature and are not advice to buy or sell. "}