I was just having some lunch when I got a notification on my iPhone from the Price Action Battle Station tool for MT4 that there was a potential bullish trade opportunity for me to check out on the Australian Stock Index. Not a market that I trade too much, but I checked out the charts, and this just happened to be a perfect swing trade setup. Old resistance clearly had been broken out of and was now acting as support. The battle station indicator picked up a bullish rejection candle pattern and flagged it, and notified me. I decided to take the breakout entry on this one – even though the retracement entry was available, I don’t trade this market very much and opted in for the break of the high ‘buy stop’ order instead. The trade has triggered and on it’s way. There is enough room for this one to make 1:3 risk reward before hitting the next major resistance level. If you would like to learn more about the battle station indicator, visit my site through the author link and navigate to the war room information page. Dale Woods Dale Woods The Forex Guy is an educational Forex trading blog run by Dale Woods who has been a passionate retail Forex trader for over 6 years. Dale trades the Forex market exclusively with price action based methodologies, believing price action trading to be one of the powerful approaches used the market today, and really is the core foundation of any good trading system. Dale also strongly believes in keeping charts clean and keeping things simple, logical and uncomplicated. By making trading decisions straight off the raw price action data, you can ‘bypass’ unnecessary variables like exotic indicators, trading robots or magical pivot levels. Dale enforces the idea that there is hardly any edge trading news and economic data releases and much prefers to make trading decisions straight from the candlestick themselves. ‘The Forex Guy’ is dedicated to providing knowledge to serious and passionate traders who want to learn the art of price action trading, positive geared money management and how to psychologically condition themselves to become a professional trader. View All Post By Dale Woods AUD/USD Daily OutlooksOpinions share Read Next EUR/USD: Is The Negative Risk Relation Intact? – Morgan Yohay Elam 7 years I was just having some lunch when I got a notification on my iPhone from the Price Action Battle Station tool for MT4 that there was a potential bullish trade opportunity for me to check out on the Australian Stock Index. Not a market that I trade too much, but I checked out the charts, and this just happened to be a perfect swing trade setup. Old resistance clearly had been broken out of and was now acting as support. The battle station indicator picked up a bullish rejection candle pattern and flagged it, and notified me. I decided to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
