This week, in the markets appeared nice opportunities for trading.
XAG – silver
On Tuesday, on the daily chart of silver has created a nice PIN bar, which is in line with short-term uptrend, i was created on the important S/R and the price rebounded from the dynamic resistance (moving averages). The following day, moreover, it was created an INSIDE bar. PIN bar combined with INSIDE bar is a strong pattern that often leads to large market movements.
Today the price came down and offered entrance for better price, allowing us to improve our risk/reward ratio. I had my buy pending order just set to a lower (more favorable) price and today the order was activated.
Yesterday, on the AUD/USD daily chart was created a nice signal to sell. Again PIN bar in the direction of the downtrend, which rejected both static and dynamic resistance.
I don´t watch and do not trade this pair, but last week it created nice PIN bar on the weekly chart.
Moreover this PIN bar is created in addition to the important S/R that has been tested many times in the past, which is well illustrated in the graph below. It added this PIN bar in importance.
By looking at the daily chart it´s also evident the rejection of higher prices.