This morning my phone went crazy with Battle Station alerts as there was a pretty big shift in direction during last session’s price action.
The USD has been climbing to the stratosphere the last week or so, but finally last session we got signs of a reversal occurring.
AUDUSD above moved into a larger structure support here, which has been holding very strong.
Last time the market test this structure we got a nice bullish reversal signal that worked out nicely.
NZDUSD also dropped a bullish reversal signal which has a lot of bullish presence on the chart at first glance.
The bullish reversal signal sits at the bottom of a large ‘water fall’ down move, signalling it’s potentially time for a recovery rally here.
Price is also sitting fairly extended away from the mean, which is also a precursor for a reversal move.
I am going to try grab a retracement entry on these pairs. There is also a reversal signal off a weekly level on the cross pair of AUDNZD.
So many signals across the board the day, just take your pick.
I get flooded with questions about my Battle Station initiator – which is the tools that pushes these awesome alerts to your phone.
If you want to learn more about that, you can do so here: https://www.theforexguy.com/candlestick-indicator-for-mt4/
I have released a new version which is more advanced than what is shown on the page link above. I haven’t gotten around to updating it yet.
Best of luck on the charts guys.
Mashao Moshabela
The Price Action Battle Station is a monster, I actually follow most if not all postedd trade set-ups. the NZDUSD and AUDUSD moved in the direction is predicted with more than 230 pips altogether. What you are having in the war-room is monster Dale, I can’t wait to be part of war room
Lazlo
Hi Dale, you once spoke of a system that you use to remind/inform you when favorable trading conditions prevail. I am not sure what you called this, but it just reminded you that price is touching a trend line, support, resistance, or a certain PA setup is forming. Did you develop this agent of some sort, or did you buy it? I miss a lot of trades because I do not trade full time, and this causes me to trade in bad conditions (chasing the money). So I would like to get some sort of message informing me that my support, resistance or some PA setup is about to be reached.
Replying to: Lazlo
Dale WoodsAuthor
You might be talking about my Price Action Battle Station
Lazlo
You call it the Battle-Station Indicator…
Joao Seco
Hi, I was also waiting for the retracement, but it didn’t hit my buy limit. What do you usually do in this scenario, since it looks like price is moving up?
Thanks
Replying to: Joao Seco
Dale WoodsAuthor
Nothing, the trade simply didn’t trigger. Wait for the next one.
Steve Epperson
Call me crazy, but I think we are entering the third leg of a downtrend on the NZDUSD pair, and sideways to down on the AUDUSD pair. Leave it to this crazy ass market to divide us brethren of the candlesticks.
Replying to: Steve Epperson
Dale WoodsAuthor
Anything is possible Steve. These are good locations for a reversal though, especially on AUDUSD and AUDNZD. One can only. I haven’t gotten an entry on these trades as of yet. If they collapse aggressively during London, I will candle my pending orders.