The new version of the Price Action Battle Station algorithm has picked up a nice looking bullish Outside candle / Rejection Candle on the 4 hour AUDJPY chart.
When the battle station sends you a notification message – it must pass all the quality control filters you’ve enabled, getting your attention only on patterns that are worth checking the charts for. It’s turning out to be a very handy tool.
The bullish rejection candle formed right on a swing level, and with the daily chart currently trending upwards – all compass needles are pointing towards higher prices.
Anyone going long on this setup should be mindful of the resistance above – which looks like a solid level that will most likely contain any rallies this week. There is still enough room to make some good risk/reward.
Market Produces Nice Move Higher
This setup did make a nice move higher driving the trade into profit. The momentum stalled as we reached upper resistance where an opposing sell signal formed – which the Battle Station picked up nicely.
This was a nice exit cue for those who were still holing onto long positions, and a good opportunity for those to play a short back into the original support level.
A great example of how the Battle Station is making finding trading opportunities on the intra-day charts much easier.
If you would like to receive smart phone notifications about signals that form in live markets – check out the price action Battle Station indicator for MT4 and see if it something that would help you in your trading 🙂
Best of luck on the charts this week.
inderjeet
so niceeeeeeeeee sir god bless youu