{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-23rd-dec-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-23rd-dec-2020\/","headline":"Weekly Price Action Trade Ideas \u2013 23rd Dec 2020","name":"Weekly Price Action Trade Ideas \u2013 23rd Dec 2020","description":"Weekly Price Action Trade Ideas \u2013 23rd Dec 2020   Markets Discussed in This Week\u2019s Trade Ideas: GBPUSD, GOLD, USDX and GBPJPY.   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":"2020-12-23","dateModified":"2022-01-06","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\/12\/USDXDaily-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/12\/USDXDaily-1.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-23rd-dec-2020\/","about":["charts","Price Action Charts in Focus"],"wordCount":522,"articleBody":"Weekly Price Action Trade Ideas \u2013 23rd Dec 2020 Markets Discussed in This Week\u2019s Trade Ideas: GBPUSD, GOLD, USDX and GBPJPY. 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 ChartLooking for Range to ContinuePrice has been in a solid trend higher over the last four months with this pair on the daily chart.However, in the last couple of weeks price has been very sideways and has created a range and sideways pattern.As the daily chart shows, price is now rotating between fairly clear support and resistance levels.Whilst these levels continue to hold I will look for this range to continue and for trades from both of these levels.Daily Chart GOLD Daily ChartSideways Chop ContinuesThis market is extremely choppy and has now been this way for the last six months.Looking to find a high probability and also solid reward trades whilst price action is like this looks to be extremely challenging.Because price is chopping up and down and not making any sort of sustained move either higher or lower it is hard to make high probability trades. Whilst we might pick the direction correctly, we could be stopped before price gets to our target.Until the price action becomes a little clearer I am sitting on my hands and watching this market.Daily Chart GBPJPY Daily ChartLooking to Trade Both SidesWhilst this market is also in a clear cut sideways range pattern, there is a decent amount of space between the range high and low. The range support and resistance levels are also pretty clear cut.Because there is a nice amount of space between the range high and low it allows for range trades to be played that will offer decent risk reward outcomes.Whilst this range continues to hold we can look to make trades from both sides of the market.Daily Chart USDX Daily ChartCan the Downtrend Continue?We have been discussing this market regularly in recent times and looking to make short trades as the trend lower continues.Price in the last few sessions has now rebounded and is looking to make a pullback higher.Just overhead looks an important resistance level.If price can move into this level and show some bearish rejection, then it could be a solid level to start looking for new short trades inline with the trend lower.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; "}