AUD200 Bullish Swing Trade – 4 Hour Rejection Candle

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aud200 swing trade

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.

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About Author

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.

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