7. USDCHF
8.EURGBP
9. EURJPY
8.EURGBP
9. EURJPY
God's Love For You Is Sure Never You Doubt It
- #64
- Last Post: Apr 28, 2021 2:10pm Apr 28, 2021 2:10pm
- | Joined Oct 2007 | Status: Trader | 481 Posts
With so many systems/strategies now in the forex market, lots of traders are now pushing aside the Price Action approach to trading which still remains the best approach..
This thread will try to show analysis on lots of currency pairs using PPA....
First Concept to consider is TREND STRUCTURE
By this I mean the HH/HL and LH/LL concept...(you can google this if you don't already know this)
It is not enough to say a trend is bullish or bearish...you must also put into consideration the state of that bullishness or bearishness------Is it in its impulse or retracement stage? Is it at a Key Level or Potential Reversal Zone? Is the present stage showing signs of coming to an end..
Let's see EurUsd
Using the Weekly tf, price clearly is making a bearish structure but in its retracement form, so it would not be too safe to go bearish even though the trend is bearish...until the present retracement begins to show signs of bullish/retracement weakness and signs of bearish/ impulse state resumption...
Hope this is clear enough.....apply this also to a bullish trend..
Join us on telegram through the link below for more profitable lessons...
https://t.me/joinchat/KmCM-PwMMgJjMmM8
This thread will try to show analysis on lots of currency pairs using PPA....
First Concept to consider is TREND STRUCTURE
By this I mean the HH/HL and LH/LL concept...(you can google this if you don't already know this)
It is not enough to say a trend is bullish or bearish...you must also put into consideration the state of that bullishness or bearishness------Is it in its impulse or retracement stage? Is it at a Key Level or Potential Reversal Zone? Is the present stage showing signs of coming to an end..
Let's see EurUsd
Using the Weekly tf, price clearly is making a bearish structure but in its retracement form, so it would not be too safe to go bearish even though the trend is bearish...until the present retracement begins to show signs of bullish/retracement weakness and signs of bearish/ impulse state resumption...
Hope this is clear enough.....apply this also to a bullish trend..
Join us on telegram through the link below for more profitable lessons...
https://t.me/joinchat/KmCM-PwMMgJjMmM8
God's Love For You Is Sure Never You Doubt It