EURUSD Price Action Analysis – 22nd Aug 2017
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 This post is 1 week delayed and this idea is no longer valid but the lesson is still valid.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…
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!
EURUSD has been trapped within a horizontal channel on the H4 chart. However, the Daily trend of the pair has been bullish. Recently the pair made some good bullish move towards the North as well. Now it is time for the price to make corrections and to produce a buy signal from a good level of support. By looking at the H4 EURUSD chart, it seems that the pair might produce a buying opportunity. Let us have a look at the H4 EURUSD chart….
Thank you for your readership. We are truly grateful!
Hope that you like the strategies that we share.
If you like the strategies here, you will absolutely
love our latest strategy...
The aim of Morningpips is to finish trading by the morning.
Simple as that... Check it out!
See those consecutive two H4 bullish candles. On their way, they broke a level of resistance at 1.17650. The price is having correction now. If the price comes at the breakout level and produces an H4 Bullish Engulfing candle, then buying the pair would get us some green pips. Let us have a look at the summary of the trade…
- Buy Limit Order: 1.17650
- Stop Loss Level: 1.16900
- Take Profit Target: 1.18600
- 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
Most probably, this trade setup will produce the H4 Bullish Engulfing candle tomorrow. If it does, then it would be easy to take the entry. However, if the signal is produced today, then we have to flip over to the 30M EURUSD chart. There is a bearish Trend line on the 30M chart. That trend line has to be broken and confirmed by the 30M candles if we are to take the entry today. In both cases, H4 Engulfing candle is a must thing to occur though.
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: EURUSD Price Action Analysis – 22nd Aug 2017Join The Price Action Club Here…