Forex Trade Signals and Setups Jan 10th

AUDUSD – Attempting To Breakout, But…

After forming the price action pinbar setup off the 20ema, the Aussie has gained strongly on the day suggesting buyers were happy to come in off the EMA.  The pair barely dipped from the open and then was bought up closing towards the highs, suggesting the bulls entered the market from the beginning and held throughout most of the day.   They also could have already been present from the pinbar signal, but either way, they held their foot on the gas for some solid buying.

price action trading chris capre 2nd skies forex jan 10th

The pair may pause again just below the 1.0400 level so short term traders can look for a price action rejection/fade off this level targeting the 20ema.  Bulls can either wait for another pullback to the EMA, or wait for a breakout-retest setup to take new longs.

Remember to leave us your comments which are always appreciated, and also to click the ‘Like’ and ‘Tweet’ buttons below to share it.

 

For those of you looking to trade price action, make sure to visit our Advanced Price Action Course where we teach rule-based systems for trading Price Action.

Also make sure to view out latest article Awareness, Negative Habits and Concentration in Trading.

 

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article