Weekly Price Action Setups & Key Levels | Sep 24-29


AUD/USD – Corrective Above Major S/R Zone (Weekly chart)
After breaking through the major S/R zone between 0.7750-0.7850 back in July, bulls have already successfully defended this zone once on a pullback mid-August.

For now, I’m bullish MT while above 0.7750 on a weekly closing basis. This zone and corrective price action structure holding means a potential attack on 80.75 and if that resistance folds, 82.50 in extension.

Meanwhile, a weekly close below 0.7750 suggests likely unwinding towards 0.7500 or even 0.7350.

Corrective Above Major SR Zone AUDUSD 2ndSkiesForex - Price Action

Ashtead Group PLC (AHT) – LT Corrective Structure Held + PBO Structure at ATH (Daily chart)
We covered this stock in our market commentary recently suggesting that the bottom of the LT corrective structure was a good potential area to buy.

Buyers stepped in at the upper portion of the structural support zone which then was followed up by strong buying all the way up to the top of the top of the corrective structure. Since then the stock has broken higher, printed a new all-time-high and currently there’s a PBO structure forming below 1800.

Another successful breakout north from this area will push the stock into uncharted territory and recent price behavior suggests that initially 1850 and 1900 will be likely targets for the bulls.

LT Corrective Structure Held Trade in Profit Ashtead Group (AHT) 2ndSkiesForex - Price Action

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