Dear Daily Price Action Setup Traders,

Today is a great day for trading ideas. The second possible opportunity I am spotting is the AUD/JPY (see the first one here). It is a less-known price action pattern called “iii” or a triple inside day candlestick formation. It basically consists of one larger bodied candle and three smaller candles that are entirely within the range of the larger-bodied candle. You can see that pattern better from the chart- the encircled area. It is a buy signal in bullish trends and therefore all longs should be triggered at current market levels 101.89 with a stop loss just under 101.15. The initial target for this setup is 105-106. 

Happy Trading,

Colibri Trader

(Visited 212 time, 1 visit today)