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Simple, Powerful and Effective Price Action Trading Strategies

  • #561
  • Jul 26, 2015 2:31pm Jul 26, 2015 2:31pm
Quoting DnBPriceAct
{image} One of the War Room members spotted this setup and I thought I would share it. The 4 hour chart on the GBPUSD shows a clear resistance level which price has failed to push through on 3 attempts. The last test of this resistance caused a strong reaction by the bulls, heavily rejecting higher prices and forcing the candle to close lower than the open price. Now weve got a strong bearish rejection candle reversal signal off this resistance level, signalling that prices want to move lower. The anatomy of the candle is also very strong, with...
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The market followed through very nicely off the bearish rejection candle signal that we just covered recently, giving price action swing traders the opportunity to bank some good returns.

Because the move was so aggressive, a bearish outside candle as printed on the daily chart as a result.

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Now the daily chart also looks quite bearish, with a nice mean looking bearish outside candle sitting right there on a swing level.

If price breaks the low of the outside candle this week, we could see a much more deeper move into lower prices.

For more information about my Forex price action swing strategies visit me at www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #562
  • Jul 26, 2015 2:32pm Jul 26, 2015 2:32pm
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Friday's trading session had pretty low volatility across the board, especially quiet for the GBPNZD cross pair. The daily chart stalled and churned about a critical level for this well established up trend.

The daily candle closed as an inside day which we could use to capture breakouts.

Price is sitting on a bullish 'hot spot', where a lot of technical factors come together to support the trade idea. In this case we have the old resistance acting as new support, the mean value also supporting the market, a stable bullish up trend, and the inside day which offers the frame work to build breakout orders off.

This is a NZD pair, a currency that can become very active during the Asia session, so we may see early breakouts. Just be careful of any Asia breakout traps that could lead to a sharp reversal in the London session. Ultimately, we're looking for bullish breakouts and trend continuation here.

For more information about my Forex price action swing strategies visit me www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #563
  • Jul 29, 2015 4:49pm Jul 29, 2015 4:49pm
Attached Image (click to enlarge)
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GBPUSD has been stuck in this holding pattern under a stubborn resistance level on the daily chary, which has been containing price for the past couple of weeks.

Again, the market moved up into this resistance level and the higher prices were denied, and pushed back lower to create a bearish rejection candle in response to the Fed’s FOMC release.

I am not sure what the Fed’s position was, but we can see the GBPUSD responded bearishly with the increase in USD strength. If the market breaks lower, we could see a breakout to the downside and a move into lower prices.

For more information about my Forex price action swing strategies visit me www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #564
  • Jul 29, 2015 9:54pm Jul 29, 2015 9:54pm
GBPUSD analysis H4

Still learning about price action. Please correct me if there is wrong in my analysis

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  • #565
  • Aug 1, 2015 7:01am Aug 1, 2015 7:01am
Question, Dale: What exactly do WR members get apart from access to the private forum?

Regards,
Courtney
  • #566
  • Aug 2, 2015 9:37pm Aug 2, 2015 9:37pm
EU Analysis
H4 and H1
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Target 161.8 either on H1 or H4
  • #567
  • Aug 3, 2015 12:07am Aug 3, 2015 12:07am
Quoting dhiy0
EU Analysis H4 and H1 {image} {image} Target 161.8 either on H1 or H4
Dhiyo, I don't understand why you drew your Fib levels there. Care to explain?
  • #568
  • Aug 3, 2015 12:30am Aug 3, 2015 12:30am
Reliable/Stable/Profitable/Signals.
  • #569
  • Aug 5, 2015 5:19pm Aug 5, 2015 5:19pm
Quote
GBPUSD analysis H4

Still learning about price action. Please correct me if there is wrong in my analysis

Chart looks messy, you're trying to analyse a sideways market - just keep thins simple and mark the upper and lower support and resistance levels.

Look at the GBPUSD daily chart, it's flat.

Look at a moving market like the GBPAUD or AUDUSD...

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The AUDUSD has been one of the big movers this year - a large long term bearish trend is powering down the charts as this market continues to weaken.

During the last few weeks, the downward momentum has taken pause as the market slows down and consolidates a little above a support level.

Last session, an inside day formed after price rallied into the mean value. The mean value is containing the market from pushing into higher prices, and is the optimum area to re-enter this downtrend.

Now we've got an Inside day, it's the perfect framework for building breakout trades off. There is some hot AUD news coming out this session, which may fuel a nice breakout here. We're only looking for bearish breakouts so we're in alignment with the overall downtrend.

If a bearish breakout plays out, we will be watching for a break of the support level, and hopefully see a push into fresh new lows. If support breaks, this could be a very high return trade.

For more information about my Forex price action swing strategies visit me www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #570
  • Aug 5, 2015 5:21pm Aug 5, 2015 5:21pm
Quote
Question, Dale: What exactly do WR members get apart from access to the private forum?

Regards,
Courtney


Hi Courtney, thanks for your interest - did you check out this page?

Forex War Room Information
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #571
  • Aug 5, 2015 10:40pm Aug 5, 2015 10:40pm
great website.
Reliable/Stable/Profitable/Signals.
  • #572
  • Aug 6, 2015 1:22pm Aug 6, 2015 1:22pm
Looks like the GBPAUD breakout has failed - and actually developing into a heavy sell signal instead.

I am going to look to exit on any asia session retracements and consider going short.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #573
  • Aug 7, 2015 8:26am Aug 7, 2015 8:26am
Quoting DnBPriceAct
{quote} Hi Courtney, thanks for your interest - did you check out this page? Forex War Room Information
No I didn't. Will check it now, thanks.
  • #574
  • Aug 7, 2015 12:34pm Aug 7, 2015 12:34pm
Quoting dhiy0
GBPUSD analysis H4 Still learning about price action. Please correct me if there is wrong in my analysis {image}
Finally we've seen the sell-off from this sell signal...

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For more information about my Forex price action swing strategies visit me www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #575
  • Aug 10, 2015 4:53pm Aug 10, 2015 4:53pm
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The USDSGD has been in a monster bullish trend this year, but we’ve started to see some signs of temporary slow down. Going into last week’s close, we see two bearish rejection candles, with those upper tails displaying denials of higher prices right around a weekly resistance level.

To usher us into this week’s trading, a third bearish rejection candle formed, with a much more convincing negative close to the body of the candle – signalling further weakness entering the market around the weekly turning point.

Price is elevated from the mean value, so we could definitely see a correctional move back to the mean here. If price does retrace itself back to the mean, the question is, will the mean value hold? or, will price cut through it and continue to head downwards.

We will have to wait and see what the price action does once it reaches this focal point on the daily chart.

See more of my forex trading strategies
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #576
  • Aug 10, 2015 10:00pm Aug 10, 2015 10:00pm
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Scratch that idea...

Some AUD news come out way off from expected and has sent the Asia pairs crazy.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #577
  • Aug 11, 2015 1:44am Aug 11, 2015 1:44am
The unluckiest man in Vegas - a guy whose bad luck is contagious - is used by the last of the old time mob run casinos to kill high rollers' action. That is, until he falls in love with a cocktail waitress and gets "lady luck," which throws the situation into reverse. Things turn nasty when the casino director tries to break up the romance.

http://www.imdb.com/title/tt0318374/?ref_=nv_sr_1
It takes a lot for me to IGNORE you, but you can try.
  • #578
  • Aug 11, 2015 12:53pm Aug 11, 2015 12:53pm
Quoting Erebus
The unluckiest man in Vegas - a guy whose bad luck is contagious - is used by the last of the old time mob run casinos to kill high rollers' action. That is, until he falls in love with a cocktail waitress and gets "lady luck," which throws the situation into reverse. Things turn nasty when the casino director tries to break up the romance. http://www.imdb.com/title/tt0318374/?ref_=nv_sr_1
You hear that, Dale? Get yourself a cocktail waitress and you'll never have a losing trade again!
  • #579
  • Aug 11, 2015 5:42pm Aug 11, 2015 5:42pm
Attached Image (click to enlarge)
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The CHFJPY market has been gliding down at a nice steady pace - producing a nice stable bearish trend. We've had a couple of sell opportunities along the way here that have worked out well.

Last session the market moved higher into the mean value - the move was denied and price was pushed down lower to create a small bearish rejection candle.

This is pointing towards further lower prices, but we do have weekly support below to keep in mind. Still some room there to make decent ROI if price moves lower from this price action signal.

See more of my forex trading strategies
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #580
  • Aug 12, 2015 1:59am Aug 12, 2015 1:59am
hi,
do you not use stoploss?
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