Price Action Swing Trading (PAST) Weekly Report – 24-Nov-13

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    Nigel Price
    Nigel Price

    Hi Everyone

    This week there has been very very little in the way of good new potential reversals that have caught my attention. Having gone through my charts on both the weekly and daily timeframes, it seems as though many moves are already underway, or price is just consolidating in a range. This coming week may well be one therefore where traders can take a break away from the charts as regards new entries, or simply just devote some time towards managing currently open positions.

    There is one signal that has occurred on a pair I do not usually trade myself, which I will look at in this week’s report. It is the GBP/SEK. Just to be clear, I will not be trading this setup myself, but it is a good example of the type of price action we like to see. So I decided to include it just as much as an educational example as anything else.

    If you do decide to trade this pair over the coming week – please make sure to first check what your broker spread is – on these more exotic currency pairs the transaction costs can be extremely high.

    As we can see from the chart, the bulls have been in control on the daily chart for some time now, but on Friday we saw a large Strong Reversal Candle form, indicating the possibility of declines ahead.

    Price Action Swing Trading - GBP/SEK

    If you would like to see how we would enter the market on a signal like this, take a look at the full PAST Weekly report here:- Price Action Swing Trading (PAST) Strategy Weekly Report – 24-November-13

    Nigel Price is the author of the FREE

    Price Action Swing Trading (PAST) Strategy eBook

    Click HERE to download it NOW

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