Tuesday, September 3, 2013

AUDUSD PRICE ACTION: Pin Bar/Inside Bar Combo off Psychological support pulls higher.


We had a valid bullish setup on the Aussie after a Pin Bar Price Action Trade Setup was followed by an inside bar before the close of trading last week and with today's price moving slightly higher, it resulted in a bullish breakout on the 4 hour time frame validating the combo setup. Despite the fact that the major trend is yet bearish, price is expected to at-least make a dash towards Psychological resistance at about 0.9100 from where it is expected that the bears would get back in on the pair. But if it breaks instead, that would leave the door open for 0.9200.

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2 comments:

Anonymous said...

careful with that trade if your agressive trading this pair. I see bullishness to continue

Ahize said...

if u see bullishnes and i see bullishness arent we on the same page?