Forex Alchemy Price Action

I will complete a full download of what this thread is about soon.

Here is a potential price action setup on the AUDUSD 4 hr chart.

Price has been in a channel and recently made 3 bottoms, from there price broke the top of the channel and extended out breaking 3 highs in the process.
Price has then retreated back into the center of the channel and the 61.8% fib retracement level and made a strong price action candle.

Look for an entry on market and stop under the previous low. Will leave TP open but look to see how price reacts as it approaches the top of the channel. 1:1 possible with a target at the top of the channel.

For more free price action related info subscribe to my blog at http://www.forexalchemy.com

Nice setup, forexalchemy. But nowadays 61.8 fibo level is no longer as hard as before. So, I think there may be at least a retest of the 61.8.

Anywhere between 50-61.8 is the zone I am looking at for entries (my style and the way I see the market).

Here is a trade I have just taken on the EURJPY 5 min chart.

Price made a nice retrace back down to support and started next wave up, small retrace back to the moving average and strong momentum bounce up.
Entry as price breaking previous high point, stop 6 pips and exit at the swing high for +12 pips.

For more free price action related info subscribe to my blog at http://www.forexalchemy.com

The price broke down below 76.4 (my favorite fibo level). But it seems that AUD/USD wants to go even lower.