{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-12th-to-16th-oct-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-12th-to-16th-oct-2020\/","headline":"Weekly Price Action Trade Ideas \u2013 12th to 16th Oct 2020","name":"Weekly Price Action Trade Ideas \u2013 12th to 16th Oct 2020","description":"Weekly Price Action Trade Ideas \u2013 12th to 16th Oct 2020   Markets Discussed in This Week\u2019s Trade Ideas: AUDUSD, CADJPY, SILVER\u00a0and AUS200.   Note:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close […]","datePublished":"2020-10-12","dateModified":"2020-10-12","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\/2020\/10\/AUDUSDDaily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/10\/AUDUSDDaily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-12th-to-16th-oct-2020\/","about":["charts","Price Action Charts in Focus"],"wordCount":575,"articleBody":"Weekly Price Action Trade Ideas \u2013 12th to 16th Oct 2020 Markets Discussed in This Week\u2019s Trade Ideas: AUDUSD, CADJPY, SILVER\u00a0and AUS200. Note:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close Demo Charts AUDUSD Daily ChartPrice Flip Support in PlayPrice on the daily chart of the AUDUSD is now trying to continue the long running trend higher it has been making since March this year.After breaking lower with a 1,2,3 reversal pattern, price has since bounced back and is now back above the important price flip level.This level has in recent times held as both a key support and resistance level.If it holds now it could be a solid level to watch for intraday bullish trades for price to continue the march back into the next swing high resistance.Daily Chart CADJPY Daily ChartPrice Moving Into Daily Resistance LevelWhilst we have been in a ranging market in the last few months with this pair, price is currently making a solid swing higher.This move looks like it is heading into the important daily resistance level around 80.86.Even though we have seen a strong move higher, this market is still sideways and this level could be a solid potential area to look for short trades.Until we get a clear break and a new trend forms, we can continue to look to play both sides of the market.Daily Chart SILVER Daily ChartSideways Range ContinuingThis is an interesting market and a market where caution is probably best.Whilst it is pretty clear we have a range and sideways move in play, there are a lot of traps and false moves occurring within it.This means that whilst price may respect a support or resistance, it is making a false break higher or lower first.The other reason caution may be best is because we have signs of momentum to the upside with a bottom pattern on the daily chart, but price is running directly into the major resistance level.It could be best to watch this level for the next price action clue.Daily Chart AUS200 Daily ChartCan Price Form Fresh Highs?This market is now making a strong move higher into the important daily resistance level.Whilst we could expect to see some resistance at this level, if price breaks it, then it could open the door to a much larger move higher.This level is pretty significant because if it breaks, then it would see price move into a new six monthly high. This level is also almost bang on the 61% Fibonacci retracement point from when price started selling off at the start of the year.This presents as a major watch in the coming sessions.Daily Chart Trade Ideas Note: All views, discussions and posts in the \u2018charts in focus trade ideas\u2019 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.Note:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close Demo Charts Please leave questions or comments in the comments section below; "}