Kiwi pin burned price action forex

Posted by on Aug 13, 2012

By David Ruscelli


Hello guys, quickly update of the forex markets for trade with price action.

Recently price action give many many false signals, all signals has been in trend, all on support or resistance, all good and beauty, and all burned.

 

NZD/USD

An example is Kiwi NZD/USD, it’s dollar against New Zealand, it burned yesterday’s pin. In this case who was conservative and placed a pending order on the break of the yesterday’s candle didn’t lose beacuse order hasn’t been triggered. Now take out the order and watch what happen.

NZD/USD D1

 

XAU/USD

The gold stay under the resistance, it feel the resistance very much, It stay under the range we discussed many times, from 1630 to 1530.

XAU/USD D1

 

 

That’s it for today. Have a good trading!

 

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