Weekly Trade Ideas – 24th March

[Pip Hunter]

Hi Traders and welcome to this weeks’s trade ideas.

First up is a pair I looked at and did trade last week.

Last week we were looking for the key resistance and 61% fib level to break and for price to move higher which it did.

Now I am looking for the old resistance to become new  support and if price moves lower back into this support I will be looking for long trade on daily and smaller time frames.

USDCHF Daily Chart

 

AUDUSD Daily Chart

This is not a trade idea, but an update with this pair…

I am not looking to make any trades with this pair until price breaks out of the consolidation box it is in on the daily chart.

 

USDJPY Daily Chart

Price has now moved higher into a key daily chart resistance on this pair.

With this level in mind I have moved to the smaller time frames and am watching for bearish price action that could confirm a trade for a move lower.

AUS200 Daily Chart

Two trade ideas ago you can see here – https://learnpriceaction.com/forums/topic/weekly-trade-ideas-10th-march/ I discussed how I was looking for long trades if price rolled lower into support.

Last week we got the perfect bullish rejection candle of this same level and a price action push back higher.

Whilst that was a solid trade and I hope you were watching, price has now moved into a key resistance and which way it goes from here will depend on the type of price action we get.

[Author]

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