Before you continue, we want to make sure you understand that this is a past trade idea found inside The Price Action Club which is a premium Price Action trade signal service. This post is 1 week delayed and this idea is no longer valid but the lesson is still valid. We post this to show you what is inside the Price Action Club. It would be awesome if you join us to learn and to trade our trade ideas. We hope to see you inside the Price Action Club soon. Click here to join us... [thrive_link color='green' link='https://www.forexstrategieswork.com/the-price-action-club/' target='_blank' size='big' align='aligncenter']Join The Price Action Club Here...[/thrive_link]

AUDNZD Price Action Analysis – 15th June 2017

AUDNZD has been choppy for eight trading days after having a long bearish ride. However, the pair might seem to start trending towards the North this time. Today’s price action suggests that the pair might head towards the North. Thus, buyers get ready to know the levels to ride on that potential bullish wave on AUDNZD. Let us have a look at the H1 AUDNZD chart.

Have a look at the chart. The price seems to find its major support at 1.04130. A massive bull candle breached through the level of 1.04950, which was a strong level of resistance earlier. This means buyers are going to wait for the price to come back at this level to start buying the pair again. If things go as it normally does as far as the price action is concerned, then the price should go up to the level of 1.06900. Let us have a look at the summary of the trade…

• Buy Limit Order: 1.04950
• Stop Loss Level: 1.04100
• Take Profit Target: 1.06900
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

This trade is based on a reversal pattern. Trading on a reversal pattern has less winning ratio but it could be highly rewarding. Since the price is going to have to make breakouts, thus the momentum will be strong. However, it always depends on the liquidity, where we do not have any control of. Thus, it is better to trade with half a lot of our usual lot when we trade on a reversing market.

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

We hope that you enjoy our Free Forex Trading Signal today: GBPCAD Price Action Analysis – 14th June 2017  [thrive_link color='green' link='https://www.forexstrategieswork.com/the-price-action-club/' target='_blank' size='big' align='aligncenter']Join The Price Action Club Here...[/thrive_link]