The ForexGuy's  Instablog

The ForexGuy
Send Message
I have been involved with Forex trading for about 6 years now and after being disappointed with mainstream indicators I discovered price action trading relatively early in my career. Since then I have made price action the focus of my Forex trading, embracing it with a passion. I don't like... More
My company:
The Forex Guy
My blog:
The Forex Guy
  • AUDUSD Drops A Bearish Outside Candle As It Hits Weekly Support 0 comments
    Oct 24, 2013 2:31 PM | about stocks: AUD, ASX

    The Australian Dollar has been on a killer uptrend as of late, but last session price rallied into a weekly resistance level where the market reacted strongly by selling off the Aussie dollar.

    (click to enlarge)audusd bearish outside bar price action signal

    The weekly levels generally act as major turning points in the market so we are looking for bearish continuation here. If price breaks the low of the outside candle we could see the market slide down further.

    The up trend is still intact here so we will be looking for any strong bullish price action signals that form off the trend mean.

    Stocks: AUD, ASX
Back To The ForexGuy's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.