{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-20th-to-24th-may\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-20th-to-24th-may\/","headline":"Weekly Price Action Trade Ideas \u2013 20th to 24th May","name":"Weekly Price Action Trade Ideas \u2013 20th to 24th May","description":"Weekly Price Action Trade Ideas \u2013 20th to 24th May Markets Discussed in This Week\u2019s Trade Ideas: GBPCHF, AUDCAD, SILVER and 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 […]","datePublished":"2019-05-20","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\/2019\/05\/AUS200-Daily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2019\/05\/AUS200-Daily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-20th-to-24th-may\/","about":["charts","Price Action Charts in Focus"],"wordCount":506,"articleBody":"Weekly Price Action Trade Ideas \u2013 20th to 24th MayMarkets Discussed in This Week\u2019s Trade Ideas: GBPCHF, AUDCAD, SILVER and 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 AUDCAD Daily ChartRetracing Into Major Daily ResistanceLast week price broke through a key daily support level making a strong close below.We now see that this same level could look to hold as a new potential price flip old support and new resistance. It could also act as a solid spot to hunt reversal trades on higher time frames such as the daily and 4 hour charts to get short.Any bearish high probability triggers at this level would be trading with the recent momentum and at a strong level.Daily Chart GBPCHF Daily ChartTesting Long-term Daily SupportPrice action on the daily chart of the GBPCHF is testing a multi-year support level.As the zoomed out daily chart shows below; this level has held in the past as both a major resistance and support. After a huge move lower in recent weeks, price is now making a fresh test of this level.After such an extended move lower, we would expect the market to take a breather and pause at some stage and this support could be the catalyst. Whilst trading against such strong momentum is not recommended, this level does look to be important for this market and where price makes it\u2019s next large push.Daily ChartDaily Chart SILVER Daily and 4 Hour ChartsPullback Into ValuePrice in this market in recent times has been creeping lower on the daily chart. Before last week the moves had not been explosive, but price had been making regular lower highs.Price has now aggressively broken below the key daily support and this level could prove crucial.If price retraces back higher and into this level it could act as a high probability level to look for short trades and the next leg lower.Daily Chart4 Hour Chart AUSSIE 200 Daily and 4 Hour ChartsWatching for Possible Price Flip \/ TestThis market has exploded to breakout through the daily resistance and move into an 11 year high.Looking to trade inline with this breakout and strong momentum looks the solid play whilst the old resistance and new price flip support holds.Any weakness or retracements back into value or support could offer the chance to get into the next leg higher, keeping in mind we don\u2019t want to enter at the top and buy expensive.Daily Chart4 Hour Chart Charts in Focus Note:\u00a0All views, discussions and posts in the \u2018charts in focus\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. Please leave questions or comments in the comments section below; "}