DislikedShorting the USD/JPY pair based on: a) Two bearish tailed daily chart candlesticks, at 50% retracement of the recent downward swing of the market from the top of the range at 110.70 b) Showing that we might be heading down towards the bottom of the range at 108.50's. c) No Higher High (HH) on the chart meaning bulls are not that strong. {image}Ignored
Have placed a sell order on GBP/USD based on:
a) Signal: Bearish pin bar forming a fakey on the Daily chart, after the inside bar.
b) Level: This is actually rejecting resistance at 1.3796 area and the 21-day EMA.
c) Trend: recent momentum running lower from 1,3981 to 1.3600.
The rejection is happening at the 50% retracement of the recent bearish momentum.
a) Signal: Bearish pin bar forming a fakey on the Daily chart, after the inside bar.
b) Level: This is actually rejecting resistance at 1.3796 area and the 21-day EMA.
c) Trend: recent momentum running lower from 1,3981 to 1.3600.
The rejection is happening at the 50% retracement of the recent bearish momentum.
Have taken a short order on the AUD/USD pair based on:
a) Daily Chart Price Action Signal: A Pin Bar Inside bar Fakey Combo (signal) at 0.7413 resistance (level).
b) Last break was break of the 0.7413 support turned resistance.
c) On the 4_hour price is below the EMA and P-sar supports bears as well:
See highlighted area on chart below..
a) Daily Chart Price Action Signal: A Pin Bar Inside bar Fakey Combo (signal) at 0.7413 resistance (level).
b) Last break was break of the 0.7413 support turned resistance.
c) On the 4_hour price is below the EMA and P-sar supports bears as well:
See highlighted area on chart below..
Have taken a short order on the AUD/USD pair based on: a) Daily Chart Price Action Signal: A Pin Bar Inside bar Fakey Combo (signal) at 0.7413 resistance (level). b) Last break was break of the 0.7413 support turned resistance. c) On the 4_hour price is below the EMA and P-sar supports bears as well
... Another classic case of price breaking lower the support and then price re-testing it, forming a bearish pin bar that rejects the 1.1846 support turned resistance.
See the highlighted area on the EUR/USD chart below. In fact I managed to squeeze a 1.8R trade on the below set up;
See the highlighted area on the EUR/USD chart below. In fact I managed to squeeze a 1.8R trade on the below set up;
- #28
- Edited 5:54am May 19, 2022 3:02am | Edited 5:54am
- | Joined Jan 2021 | Status: Trader | 189 Posts
I have placed a sell order on EUR/JPY at 135.10 based on my TLS factors:
a) Trend: Daily chart Price is printing Lower highs and Lower Low stepping formation, indicating that bears are stronger.
b) Level: We have price rejecting the EMA to the downside on the Daily chart.
a) Signal: Two bar reversal formed with a big reversal.
Entry point was on the 4 hour chart as price rejects the 4-hour 21-day EMA, p.sar favoring sellers and also this point marks a 50% retracement of the big red daily chart candle.( See below charts)
a) Trend: Daily chart Price is printing Lower highs and Lower Low stepping formation, indicating that bears are stronger.
b) Level: We have price rejecting the EMA to the downside on the Daily chart.
a) Signal: Two bar reversal formed with a big reversal.
Entry point was on the 4 hour chart as price rejects the 4-hour 21-day EMA, p.sar favoring sellers and also this point marks a 50% retracement of the big red daily chart candle.( See below charts)
I have placed a sell order on CAD/JPY at 99.66 based on my TLS factors:
a) Trend: Daily chart Price is making Lower highs (LH) and Lower Low (LL) stepping formation, indicating that bears are taking the upper hand.
b) Level: We have price rejecting the EMA to the downside on the Daily chart, forming a bearish pin bar after a big red candle.
a) Signal: Bearish pin bar that follows the big red reversal bar on the daily chart.
Entry point was on the 4 hour chart as price is below the 21-day EMA, and pSAR is also supporting bears.
a) Trend: Daily chart Price is making Lower highs (LH) and Lower Low (LL) stepping formation, indicating that bears are taking the upper hand.
b) Level: We have price rejecting the EMA to the downside on the Daily chart, forming a bearish pin bar after a big red candle.
a) Signal: Bearish pin bar that follows the big red reversal bar on the daily chart.
Entry point was on the 4 hour chart as price is below the 21-day EMA, and pSAR is also supporting bears.
I have placed a sell order on CAD/JPY at 99.66 based on my TLS factors: a) Trend: Daily chart Price is making Lower highs (LH) and Lower Low (LL) stepping formation, indicating that bears are taking the upper hand. b) Level: We have price rejecting the EMA to the downside on the Daily chart, forming a bearish pin bar after a big red candle. a) Signal: Bearish pin bar that follows the big red reversal bar on the daily chart. Entry point was on the 4 hour chart as price is below the 21-day EMA, and pSAR is also supporting bears.
I have taken a sell order on Silver XAG pair based on the below factors:
a) TREND: price has shown renewed bearish pressure after it broke 21.46 support making a lower low (LL) and LH reflected when it bounced off the 21-day EMA.
b) LEVEL: Price rejected the 21-Day EMA at 21.74 area.
c) SIGNAL: Bear candle rejecting the EMA on the Daily Chart followed by a bearish pin bar.
Have entered on the 4-hour chart where price is below EMA and P.Sar agrees as well.
a) TREND: price has shown renewed bearish pressure after it broke 21.46 support making a lower low (LL) and LH reflected when it bounced off the 21-day EMA.
b) LEVEL: Price rejected the 21-Day EMA at 21.74 area.
c) SIGNAL: Bear candle rejecting the EMA on the Daily Chart followed by a bearish pin bar.
Have entered on the 4-hour chart where price is below EMA and P.Sar agrees as well.
I have placed a short order on GBP/USD based on the following TLS Factors.
a) Trend: Price is still bearish as it managed to make a stepping new low at 1.1958 area. (See on below daily chart)
b) Level: Price has consolidated for the last several days, making two bullish pins (did not consider trading them as they were against the trend), finally price consolidated till it touched the 21-Day EMA before making two bearish pin bars, that rejected the EMA.
c) Signal: Two Bearish mid-sized pin bars rejecting the EMA.
Took it on the 4-Hour chart after price broke below the EMA and the P-Sar Dots support bears as well. Targeting the main support zone at 1.1958/9 area.
a) Trend: Price is still bearish as it managed to make a stepping new low at 1.1958 area. (See on below daily chart)
b) Level: Price has consolidated for the last several days, making two bullish pins (did not consider trading them as they were against the trend), finally price consolidated till it touched the 21-Day EMA before making two bearish pin bars, that rejected the EMA.
c) Signal: Two Bearish mid-sized pin bars rejecting the EMA.
Took it on the 4-Hour chart after price broke below the EMA and the P-Sar Dots support bears as well. Targeting the main support zone at 1.1958/9 area.
I have placed a short order on GBP/USD based on the following TLS Factors. a) Trend: Price is still bearish as it managed to make a stepping new low at 1.1958 area. (See on below daily chart)
b) Level: Price has consolidated for the last several days, making two bullish pins (did not consider trading them as they were against the trend), finally price consolidated till it touched the 21-Day EMA before making two bearish pin bars, that rejected the EMA.
c) Signal: Two Bearish mid-sized pin bars rejecting the EMA.
Took it on the 4-Hour chart after...
Experiment/Experiences:
I have introduced the concept of Key support and resistance areas plotted from the Weekly chart event areas where price has made a significant rally or plummet from.
These are market as slightly thicker S+R's as compared to the minor levels.
These can be serving as the target areas for trades on-boarding and off-loading!
In the chart below, we can see how the 144.16 resistance played out on EUR/JPY. The pair has made 3 un-successful hits at it and finally dropped after a long-tailed Pin Bar.
Entry Idea on Long Pin-Bar; use 50% retracement of the pin bar.
Entry Idea on Mid-sized to short Pin-bars; use the market entry and 4-hour combination to enter the market.
I have introduced the concept of Key support and resistance areas plotted from the Weekly chart event areas where price has made a significant rally or plummet from.
These are market as slightly thicker S+R's as compared to the minor levels.
These can be serving as the target areas for trades on-boarding and off-loading!
In the chart below, we can see how the 144.16 resistance played out on EUR/JPY. The pair has made 3 un-successful hits at it and finally dropped after a long-tailed Pin Bar.
Entry Idea on Long Pin-Bar; use 50% retracement of the pin bar.
Entry Idea on Mid-sized to short Pin-bars; use the market entry and 4-hour combination to enter the market.
I have placed a short order on GBP/USD based on the following TLS Factors. a) Trend: Price is still bearish as it managed to make a stepping new low at 1.1958 area. (See on below daily chart) b) Level: Price has consolidated for the last several days, making two bullish pins (did not consider trading them as they were against the trend), finally price consolidated till it touched the 21-Day EMA before making two bearish pin bars, that rejected the EMA. c) Signal: Two Bearish mid-sized pin bars rejecting the EMA. Took it on the 4-Hour chart after...
Experiment/Experiences: I have introduced the concept of Key support and resistance areas plotted from the Weekly chart event areas where price has made a significant rally or plummet from. These are market as slightly thicker S+R's as compared to the minor levels. These can be serving as the target areas for trades on-boarding and off-loading! In the chart below, we can see how the 144.16 resistance played out on EUR/JPY. The pair has made 3 un-successful hits at it and finally dropped after a long-tailed Pin Bar. Entry Idea on Long Pin-Bar;...
A rejection of this KEY S&R Level albeit against the trend should be traded on the confirmation by the 4-Hour EMA and P.Sar combination;
So in short- I will only trade counter-trend through a rejection of the KEY S & R Levels which show the boarding and off-loading levels!
See Below Daily Chart and 4 Hour entry scenario this easily bagged a 3R Return without breaking a sweat.
See below 4- Hour Chart
Another great example of this; Pair CAD/JPY did what we call a false breakout of the KEY RESISTANCE AT 107.15 trapping all the bulls who tried to trade the breakout to the upside.
A rejection of this KEY S&R Level albeit against the trend should be traded on the confirmation by the 4-Hour EMA and P.Sar combination;
So in short- I will only trade counter-trend through a rejection of the KEY S & R Levels which show the boarding and off-loading levels, applying the 4-Hour chart confirmation, NOT the 50% daily candle retracement levels.
See Below Daily Chart and 4 Hour entry scenario this easily bagged a 3-4R Return without breaking a sweat.
4-Hour Chart below:
A rejection of this KEY S&R Level albeit against the trend should be traded on the confirmation by the 4-Hour EMA and P.Sar combination;
So in short- I will only trade counter-trend through a rejection of the KEY S & R Levels which show the boarding and off-loading levels, applying the 4-Hour chart confirmation, NOT the 50% daily candle retracement levels.
See Below Daily Chart and 4 Hour entry scenario this easily bagged a 3-4R Return without breaking a sweat.
Another trade taken a BUY order that is counter trend on the NZD/JPY based on:
a) TREND: Counter trend, but applied the 4-Hour EMA & P.Sar Confirmation, and coming from a key support level marked with thick line.
b) LEVEL; KEY S&R support Level at 82.25 zone which is marked with a thick line.
c) Signal: Large Bullish Pin bar on the Daily Chart. and use of the 4-Hour combination.
See Daily Chart below:
See 4 Hour Chart Below:
a) TREND: Counter trend, but applied the 4-Hour EMA & P.Sar Confirmation, and coming from a key support level marked with thick line.
b) LEVEL; KEY S&R support Level at 82.25 zone which is marked with a thick line.
c) Signal: Large Bullish Pin bar on the Daily Chart. and use of the 4-Hour combination.
See Daily Chart below:
See 4 Hour Chart Below: