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 This post is 1 week delayed and this idea is no longer valid but the lesson is still valid.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]
USDCAD Price Action Analysis – 18th Aug 2017
USDCAD broke an H4 up trending line and since then the pair has been bearish on the H4 chart. The price has been having a correction. As it seems there is a level, which has the potential to be a strong level of resistance. If it really does and produces a bearish H4 reversal candle, then selling the pair would get us some green pips.
- Sell Stop Order: 1.27000
- Stop Loss Level: 1.27800
- Take Profit Target: 1.25800
- 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
There is a high impact news event at 12.30 GMT for the CAD. Thus, it would be best if the H4 candle (one that finishes at 13.00 GMT) comes out as the H4 bearish Engulfing candle. That is when the pair will have enough liquidity to come down as per our expectation. The target is a big one and it is Friday, thus we might have to wait until next Monday to reach at our final target. If you are not comfortable with a running trade during the weekend, then might as well come out with your profit today.
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: GBPAUD Price Action Analysis – 17th Aug 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]
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!
NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.Other Analysis Today