Last week I described here interesting opportunities that were offered for trading.
Last week, it was created a nice PIN bar on the AUD/CAD weekly chart, which signaled that the price will likely go down – I wrote about it here. It was created in the direction of the longer-term downtrend and at important S/R that has been tested many times in the past.
The price starts to fall down nicely thanks to that PIN bar:
By looking at the daily chart it was also obvious that the higher prices are refused:
Today the price begins to fall down nicely:
14 days ago I wrote here about nice PIN bar created on the USD/CAD, which has formed on the daily chart. PIN was created in the strong uptrend. Price soared up nicely after this PIN bar, which is seen in the following picture.
Last week I also wrote about the pin bar that formed on the daily AUD/USD chart. PIN was created in a strong downtrend and in addition at important S/R level.
Next day, the price immediately started to fall down nicely thanks to this PIN bar:
In recent days, this pair has created an interesting situation – a few inside bars in a row and it was made nice chop here. The market goes sideways (neither up nor down), the price here accumulates. These situations are often followed by a sharp movement in one direction, often in the direction of the previous trend, which is upward. I personally guess the move downward in the beginning to an important support level 116.10 and then upward to short-term resistance around 120.70.
A similar situation as on USD/JPY. In the last week they were made some inside bars in the row. On this pair is obvious strong downtrend. I personally have a pending sell order and am waiting for the breakout through 1.1260, thence the price could drop at least to the short-term support level 1.1100. If it breaks upwards, I’ll wait for the signal to sell somewhere around level 1.1425 to 1.1460, which is short-term resistance.