Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Trading with Price Action - Daily Trading Analysis 82 replies

Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies

TT Ichimoku Cloud Trading Analysis with Trading Calls 23 replies

Trading Gold - Anybody up for analysis here? 14 replies

Attachments: Pro7 PA trading analysis 28+GOLD
Exit Attachments

Pro7 PA trading analysis 28+GOLD

USDCAD
PA have a nice support cluster starting from 1.27968 - 1.27467

I would like to see 1.27573 where PA fulfill day range for buy

if PA find support on above lines than it should not break 1.27200
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
Quoting aeternum
Also for GBPJPY, this scenario is possible. Looking for it to retest that 152.39 region. {image}
Price smacked right into 152.39 when the news came out. They've increased bank rates to 0.25%, very positive news for GBP after a lackluster many months. GBP should be strong up here out.

Edit: Watch for price reaction to this 152.39 level on 4H. Close above or any big breaks will open more doors, likely towards 152.95-153 region. I'm not expecting it to close above though. Looking for some retracement and then another rejection of 151 and up higher.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
A 1 pip gain is better than a 1 pip loss.
Quoting aeternum
{quote} Price smacked right into 152.39 when the news came out. They've increased bank rates to 0.25%, very positive news for GBP after a lackluster many months. GBP should be strong up here out. Edit: Watch for price reaction to this 152.39 level on 4H. Close above or any big breaks will open more doors, likely towards 152.95-153 region. I'm not expecting it to close above though. Looking for some retracement and then another rejection of 151 and up higher. {image}

same with GBPAUD @ 1.84200 - 1.84000
PA should go up to 1.86621 - 1.86802
Attached Images
Forex can only be understood backwards, but it must be traded forwards.
Quoting prozor7
{quote} same with GBPAUD @ 1.84200 - 1.84000 PA should go up to 1.86621 - 1.86802 {image} {image}
Amazing but from what I can see on GBPAUD, if it can't close above 1.862, we probably get a new low. Probably want to see a break of 1.84 as you mentioned, likely also AB=CD pattern if that does happen but we're in the middle now, so no buying or selling for me!
A 1 pip gain is better than a 1 pip loss.
I find USDCAD's structure on the 4H very interesting. It is showing very exact and specific points of retracement.

If you take a look at the daily, the previous drop to 1.26 lines up perfectly with 38.2 fib retracement, which if broken, will give us 1.3.

However, daily has signs of divergence with yesterday being a rather bearish candle. So I'm not too optimistic about the green scenario.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 27 KB
Click to Enlarge Name: screenshot.png Size: 15 KB
A 1 pip gain is better than a 1 pip loss.
GBPNZD
take look @ D1 & H4 charts and that range 1.95991 - 1.94940
Attached Images
Forex can only be understood backwards, but it must be traded forwards.
aeternum
great posts keep them coming - true inspiration from you
Forex can only be understood backwards, but it must be traded forwards.
Quoting aeternum
I find USDCAD's structure on the 4H very interesting. It is showing very exact and specific points of retracement. If you take a look at the daily, the previous drop to 1.26 lines up perfectly with 38.2 fib retracement, which if broken, will give us 1.3. However, daily has signs of divergence with yesterday being a rather bearish candle. So I'm not too optimistic about the green scenario. {image} {image}
USDCAD
yellow arrow in my calculations represent range that PA pass during a day
PA above 1.27467 D1 is in buy mode
if we have pullback from current range next resistance should be 1.28431 - 1.28636 where H4 indicate buy that should push PA up to 1.29716 - 1.29798
Attached Images
Forex can only be understood backwards, but it must be traded forwards.
Quoting prozor7
aeternum great posts keep them coming - true inspiration from you
Thank you. Been trying out a new way of looking at charts and trading. Hoping not to have anymore dumb losses.
A 1 pip gain is better than a 1 pip loss.
Quoting prozor7
{quote} USDCAD yellow arrow in my calculations represent range that PA pass during a day PA above 1.27467 D1 is in buy mode if we have pullback from current range next resistance should be 1.28431 - 1.28636 where H4 indicate buy that should push PA up to 1.29716 - 1.29798 {image} {image}
Well I just went in on a buy on that 1H candle at 1.27786. Stop loss at 1.276, looking for some juicy 2:1 profits.

Edit: Popped another buy at 1.27763. Would have popped more in for scalping pleasure but it went up a little too quick.
A 1 pip gain is better than a 1 pip loss.
Quoting aeternum
{quote} Well I just went in on a buy on that 1H candle at 1.27786. Stop loss at 1.276, looking for some juicy 2:1 profits. Edit: Popped another buy at 1.27763. Would have popped more in for scalping pleasure but it went up a little too quick.
Actually not a fan of the 1 hour price action. Opened another position at 1.27721 but I'm not that confident about price heading higher for now.
A 1 pip gain is better than a 1 pip loss.
Quoting aeternum
{quote} Price smacked right into 152.39 when the news came out. They've increased bank rates to 0.25%, very positive news for GBP after a lackluster many months. GBP should be strong up here out. Edit: Watch for price reaction to this 152.39 level on 4H. Close above or any big breaks will open more doors, likely towards 152.95-153 region. I'm not expecting it to close above though. Looking for some retracement and then another rejection of 151 and up higher. {image}
Price attempted higher above 152.39 but ultimately closed around it. Time to watch price action at these levels to figure out the next move, take note 4H RSI is overbought though!

Edit: Based on USDJPY price action, there's a possibility that JPY pairs see some down trend here on the hourly timeframe.
A 1 pip gain is better than a 1 pip loss.
Quoting aeternum
{quote} Actually not a fan of the 1 hour price action. Opened another position at 1.27721 but I'm not that confident about price heading higher for now.
not a great symbol for trade (weak USD weak CAD)
no risk no fun
fishing buy @ 1.27675
small position
next entry in 1.27467 and 1.27244
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
Quoting prozor7
{quote} not a great symbol for trade (weak USD weak CAD) no risk no fun fishing buy @ 1.27675 small position next entry in 1.27467 and 1.27244 {image}
I will probably close off all 3 trades once it goes above the first one. There is a chance it goes up from here but it's not the kind of price action or pattern I would like to buy into.

Side note, as my message edit, JPY pairs are all dropping, looks like JPY is getting some strength here.

Edit: Closed off all 3 positions. Even if it goes up from here... I'll just have to wave goodbye to the train. Previous hour candle gives me jitters.
A 1 pip gain is better than a 1 pip loss.
USDCHF
fishing buy @ 0.91992

if PA is willing to go up now is the time
Forex can only be understood backwards, but it must be traded forwards.
Quoting prozor7
USDCHF fishing buy @ 0.91992 if PA is willing to go up now is the time
Please don't overfish my EURUSD buy opportunity. Looking for it to bounce off broken resistance/triangle.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB
A 1 pip gain is better than a 1 pip loss.
Quoting aeternum
{quote} I will probably close off all 3 trades once it goes above the first one. There is a chance it goes up from here but it's not the kind of price action or pattern I would like to buy into. Side note, as my message edit, JPY pairs are all dropping, looks like JPY is getting some strength here. Edit: Closed off all 3 positions. Even if it goes up from here... I'll just have to wave goodbye to the train. Previous hour candle gives me jitters.
Well looks like I missed the train. Oh well, was worth a try.
A 1 pip gain is better than a 1 pip loss.
Quoting aeternum
{quote}... Side note, as my message edit, JPY pairs are all dropping, looks like JPY is getting some strength here...
timing is all in trading for spoting JPY
Forex can only be understood backwards, but it must be traded forwards.
Quoting prozor7
{quote} timing is all in trading for spoting JPY
It's also giving gold a well needed boost. Looks a little overbought, but will be interested to load in more buys. Still holding 2 from 1784 and 1785 locked in at 1786. Let's see how much it can give us before retracement
A 1 pip gain is better than a 1 pip loss.
USDJPY
fishing buy @ 113.581
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
1 trader viewing now