Forex Price Action Setups in Recent Market Conditions

Price Action Setups in Recent Forex Market Conditions Trading conditions have been good for Forex price action traders over the last couple months; let’s take some time to review some of the great setups that occurred in the various major FX pairs recently.

When conditions are good you will see nice follow through on many price action setups, this puts the probability of any one price action setup working out even more in our favor than it otherwise would be.

It is at these times that savvy price action traders should be taking advantage of what the market is offering, think of it like perfect sailing conditions; time to put up the sails and fill them with wind to get to your destination quicker.

EURUSD: The EURUSD fired off a solid 4 hour sell signal on 8/6/10 that had confluence with the long-term resistance on the daily chart.

As we can see in the daily chart below there was a strong horizontal level running through the 1.3260-1.3360 price area, we discussed the importance of this level in the commentary from 8/9/10.

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