{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-17th-to-21st-august-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-17th-to-21st-august-2020\/","headline":"Weekly Price Action Trade Ideas \u2013 17th to 21st August 2020","name":"Weekly Price Action Trade Ideas \u2013 17th to 21st August 2020","description":"Weekly Price Action Trade Ideas \u2013 17th to 21st August 2020 Markets Discussed in This Week\u2019s Trade Ideas: GBPUSD, EURUSD, CADJPY and GOLD.   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":"2020-08-17","dateModified":"2020-08-17","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\/08\/CADJPYDaily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/08\/CADJPYDaily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-17th-to-21st-august-2020\/","about":["charts","Price Action Charts in Focus"],"wordCount":517,"articleBody":"Weekly Price Action Trade Ideas \u2013 17th to 21st August 2020Markets Discussed in This Week\u2019s Trade Ideas: GBPUSD, EURUSD, CADJPY and GOLD. 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 GBPUSD Daily ChartPrice Action Consolidating Below ResistanceAfter making a solid trend higher on the daily chart, this market has stalled in recent sessions.As the daily chart highlights; price has not been able to break higher and is stuck in a sideways box pattern.Because this sideways box is so constricted, the best play could be to look and wait for a breakout. When the breakout does occur we could then look for breakout trades on both the higher and smaller time frames.Daily Chart EURUSD 4 Hour ChartIntraday Price Flip Support Level HoldingPrice in this market has been holding at the intraday support level.As the 4 hour chart shows; price has recently broken above this level and it has since held as a new support.The next overhead resistance level that could soon come into play looks a key level. The last two times price has tested this level we have seen bearish engulfing bars with price selling off lower.4 Hour Chart CADJPY Daily ChartNext Key Support Level Coming Into PlayAfter making a strong breakout higher and through the swing high resistance, price is now rotating lower back into this same level.If this old resistance can hold as a new price flip support level it could be a solid level to hunt long trades with solid bullish price action.Bullish price action could be watched for on the higher time frames like the daily chart and the smaller intraday charts like the 1 hour time frame.Daily Chart GOLD Daily ChartDaily Inside BarThis is a market we have been charting and keeping a close eye on in recent times. A major reason for that is because of the strong trend price has been making higher.Price has now made a substantial pullback lower on the higher time frames. As the daily chart shows; we have an inside bar that has formed after this strong pullback.For the strong momentum and trend to continue we will need to see this inside bar break back higher which could then lead to the recent highs being re-tested.A break lower and the recent daily chart swing low would come into focus.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; "}