{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-4th-to-8th-may-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-4th-to-8th-may-2020\/","headline":"Weekly Price Action Trade Ideas \u2013 4th to 8th May 2020","name":"Weekly Price Action Trade Ideas \u2013 4th to 8th May 2020","description":"Weekly Price Action Trade Ideas \u2013 4th to 8th May 2020 Markets Discussed in This Week\u2019s Trade Ideas: EURUSD, AUDSGD, EURAUD and US500.   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":"2020-05-04","dateModified":"2020-05-04","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\/05\/AUDSGDWeekly.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/05\/AUDSGDWeekly.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-4th-to-8th-may-2020\/","about":["charts","Price Action Charts in Focus"],"wordCount":537,"articleBody":"Weekly Price Action Trade Ideas \u2013 4th to 8th May 2020Markets Discussed in This Week\u2019s Trade Ideas: EURUSD, AUDSGD, EURAUD and US500. 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 EURUSD Daily Chart2 Bar Pushes HigherIn last week\u2019s trade ideas we were looking at the 2 bar reversal and what would happen around the major daily support level that had just been tested.After breaking above the bullish 2 bar reversal price moved back higher and now looks to test the immediate resistance.Whilst there have been some large moves in this pair this year, price is still ranging without a clear trend.This range along with the fairly clear support and resistance levels allow trading both sides of the market when high probability trigger signals form at the major support or resistance levels.Daily Chart EURAUD Weekly and Daily ChartsWatching Close ResistanceAfter a huge sell off lower price finally moved back into the major support level and popped higher.As the weekly chart shows below there is a bullish pin bar that rejects this long term support level.This looks a tricky market because just overhead is a box resistance area that price would need to move into and break higher through to make a sustained move higher.Weekly ChartDaily Chart AUDSGD Weekly and Daily ChartsWeekly Pin BarSimilar to the EURAUD, the AUDSGD has also formed a weekly pin bar, just inverse.We discussed this market recently and the many resistance levels price had coming up.The resistance level that price has made a false break through now looks to be crucial for this market.If this level holds as a resistance, then the next solid move lower could come into play. This level could also be a potential area to hunt smaller time frame trades with A+ trigger signals.Weekly ChartDaily Chart US500 Weekly and Daily ChartsFalse Break of ResistanceIn the past week there have been a lot of false breaks or attempted breakouts that had little follow through.This is being seen in many markets at the moment as price is uncertain where it wants to go.Whilst the weekly chart of this market shows a large false break pin bar, the daily chart highlights the uncertainty.Price on the daily chart tested the resistance level and formed a false break pin bar. Price was not able to confirm the pin bar and move lower and we saw the large false break follow.Weekly Chart\u00a0Daily 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; "}