trading without stoploss is just a suicide ,In war room, members we always use stoploss...
Simple, Powerful and Effective Price Action Trading Strategies
Of course we always use a stop loss.
A strong bearish rejection on GBPAUD - is the AUD finally going to see a relief rally?
After a nice extended rally here on the GBPAUD daily chart, price has become a little turbulent as it slams into some stubborn resistance.
The resistance level has been defended by the bears after two attempts to push up into higher prices, both times the higher prices were denied. The most recent test – during last session, resulted in a strong rejection by the bears, closing the day as a bearish rejection candle
The body of the signal candle is nice and thick, which gives the signal more bearish value. It is against the overall uptrend, but these trends don’t last forever – and the market seems to have topped out on this level for the moment.
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A strong bearish rejection on GBPAUD - is the AUD finally going to see a relief rally?
After a nice extended rally here on the GBPAUD daily chart, price has become a little turbulent as it slams into some stubborn resistance.
The resistance level has been defended by the bears after two attempts to push up into higher prices, both times the higher prices were denied. The most recent test – during last session, resulted in a strong rejection by the bears, closing the day as a bearish rejection candle
The body of the signal candle is nice and thick, which gives the signal more bearish value. It is against the overall uptrend, but these trends don’t last forever – and the market seems to have topped out on this level for the moment.
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Well we didn't get much follow through on the GBPAUD sell signal, only a small sell off before the bulls come back in here, mainly due to the severe weakness in the AUD right now.
The US stock indices have dropped very hard , which could provide a cheeky mean reversion opportunity...
Traders were shocked by almost a mini market crash, what certainly looks like a very serious situation at least on the daily chart. We've had 3 days of intense selling as investors dump US stocks, causing the S&P, and the DOW to drop like a rock.
Simple mean value analysis tell us that the market has moved too far away from the mean too fast, leaving a large price to mean gap.
So provided the sell off frenzy calms down, we might get a nice intraday buy signal that we could use to setup a mean reversion trade. It's most likely that will see any kind of recovery moves in the US session when the US stock markets come online.
For more information about my Forex price action swing strategies visit me at www.theforexguy.com
The US stock indices have dropped very hard , which could provide a cheeky mean reversion opportunity...
Traders were shocked by almost a mini market crash, what certainly looks like a very serious situation at least on the daily chart. We've had 3 days of intense selling as investors dump US stocks, causing the S&P, and the DOW to drop like a rock.
Simple mean value analysis tell us that the market has moved too far away from the mean too fast, leaving a large price to mean gap.
So provided the sell off frenzy calms down, we might get a nice intraday buy signal that we could use to setup a mean reversion trade. It's most likely that will see any kind of recovery moves in the US session when the US stock markets come online.
For more information about my Forex price action swing strategies visit me at www.theforexguy.com
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I don't really like that signal sepramfx - the rejection candle didn't form a new swing low.
Looking for a short signal on AUDUSD if the market retraces up to test this hotspot.
The AUDUSD got caught up in the recent frenzy of volatility in the August markets – bad news from China also was a catalyst for major AUD weakness. We’ve seen price scream through a major support level and crashing into the 70 cent area.
Since then, we’ve had a bit of bouncing around as price attempts to stabilize, nothing really reliable to trade.
Instead I am waiting for price to retrace back up and test a hot spot for bearish price action. The hot spot marked on the chart is the old major support level, when tested, if we see it acts as new resistance – this will be a strong sign the selling is going to continue and a good price area to enter as a bear.
This area also will co-inside with the mean value, which adds further value to the trade setup. Hopefully next week we will see a nice strong sell signal here.
For more information about my Forex price action swing strategies visit me at www.theforexguy.com
Looking for a short signal on AUDUSD if the market retraces up to test this hotspot.
The AUDUSD got caught up in the recent frenzy of volatility in the August markets – bad news from China also was a catalyst for major AUD weakness. We’ve seen price scream through a major support level and crashing into the 70 cent area.
Since then, we’ve had a bit of bouncing around as price attempts to stabilize, nothing really reliable to trade.
Instead I am waiting for price to retrace back up and test a hot spot for bearish price action. The hot spot marked on the chart is the old major support level, when tested, if we see it acts as new resistance – this will be a strong sign the selling is going to continue and a good price area to enter as a bear.
This area also will co-inside with the mean value, which adds further value to the trade setup. Hopefully next week we will see a nice strong sell signal here.
For more information about my Forex price action swing strategies visit me at www.theforexguy.com
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The USDCAD daily chart has started off this week with some pretty decisive price action.
We've watched the CAD bears drive the USDCAD up the chart for a few months now, but all good things eventually come to an end - this uptrend can't last forever. Is it time this market corrected?
Price has stalled under a resistance level, which can only be referenced back to levels way back in 2002 - because this market hasn't been in this territory for over 10 years.
A large bearish rejection candle is forming here on the daily chart, which a heavy bearish body. This gives the setup more bearish weight and increases the chances of continued selling here.
For those who are interested, we can look to grab a retracement entry tomorrow.
For more information about my Forex price action swing strategies visit me at www.theforexguy.com
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The GBPUSD has recently suffered a hard drop of 8 days of intense selling, moving price from a larger range structure top, sharply to the bottom support.
During the 8 day sell off we haven't seen any bullish closing days! Now the market has reached a major support level, the bulls have finally decided to step in and give us a bullish closing day - demonstrating the support level is being defended.
This has completed a 2 candle bullish rejection pattern, which is a classic reversal signal that could be the catalyst for a much needed correction.
If the market rebounds up wards, we could see a correction back to a swing level in the middle of the range, or price could complete another range cycle and re-test the range top again - which would generate good returns for this setup.
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
- #589
- Sep 14, 2015 1:30am Sep 14, 2015 1:30am
- Joined Jul 2011 | Status: Gold Again | 10,606 Posts
It takes a lot for me to IGNORE you, but you can try.
Setups are hard to come by at the moment. I've slowed down with my commentary as a result.
The markets have been quite dull as of late, mainly because everyone is waiting for the feds next move regarding their interest rates.
This week is expected to bring record levels of volatility has the fed decide if they want to raise interest rates or not.
The bullish price action setup we recently covered on the GBPUSD daily chart has started to show good progress.
For now price has stalled on the GBPUSD, but the Fed announcement on Thursday will definitely bring some fireworks to this chart and get it moving again.
Most traders will probably take profit here as they do not want to sit through the extreme pending volatility. The announcement will basically make or break this setup in a big way.
For more information about my Forex price action swing strategies or my MT4 tools, visit me at www.theforexguy.com
The markets have been quite dull as of late, mainly because everyone is waiting for the feds next move regarding their interest rates.
This week is expected to bring record levels of volatility has the fed decide if they want to raise interest rates or not.
The bullish price action setup we recently covered on the GBPUSD daily chart has started to show good progress.
For now price has stalled on the GBPUSD, but the Fed announcement on Thursday will definitely bring some fireworks to this chart and get it moving again.
Most traders will probably take profit here as they do not want to sit through the extreme pending volatility. The announcement will basically make or break this setup in a big way.
For more information about my Forex price action swing strategies or my MT4 tools, visit me at www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Looking at a bullish rejection candle that has formed on the 4 hour time frame of the EURUSD. I call these ones ‘thick body’ rejection candles because in this case, the candle signal has a thick bullish body – which gives the setup a little more bullish presence.
The candlestick buy signal formed right on a nice swing level which I’ve marked on the chart. We can also see the recent 4 hour market has a nice bullish uptrend structure to it, marking out higher highs and higher lows.
If this setup works out, we could see price make a move into higher highs. But don’t forget we are expecting massive volatility this week with the fed rate hike decision, which EURUSD will be heavily effected. Manage your risk effectively here.
For more information about my Forex price action swing strategies or my MT4 tools, visit me at www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Sorry, haven't been around to update the thread much.
Summer trading has been quiet, thankfully it's over. I've been working of a few tools to help price action swing traders.
See my latest post for more info on the tools, and recent trades...
End of Summer Trading Price Action Replay
Summer trading has been quiet, thankfully it's over. I've been working of a few tools to help price action swing traders.
See my latest post for more info on the tools, and recent trades...
End of Summer Trading Price Action Replay
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Last week the fed 'played their hand', and decided not to raise interest rates in the US. It was this year's highly anticipated news that forced the market to remain in consolidation holding patterns until the decision was announced, so investors knew where they stood.
Initially the USD weakened off the back off the release, but quickly started to show signs of strength again. On the USDSGD daily chart, we can see how there was a bearish correction into a major support level as the USD lost some ground.
Now the bulls are coming back in hard, and are defending the support level aggressively. Notice how price sold off into the level twice, but the moves lower were rejected by the market - demonstrating lower prices are not favored "hint hint".
This denial of bearish price moves has printed two bullish rejection candles, which are strong looking price action buy signals. The closing price of the candles are higher than the open too, which is something I like to see - it gives the setup that extra bullish shine.
We will most likely see a rally out of this setup, as it aligns with the overall dominant uptrend in place here. Be careful of any breakouts that occur during the Asia session. If they do occur, make sure they don't turn into a fake out, which would be a very bearish signal.
For more information about my Forex price action swing strategies or my MT4 tools, visit me at www.theforexguy.com
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One of the most common questions I get asked is: "How do you know if the markets are going to start consolidating?"
It's very frustrating when you do get caught up in consolidation, you can get very agitated and be susceptible to emotional mistakes.
In this Forex lesson, I am going to share with you my top ways to anticipate if consolidation is likely to form or not, so you can side step the sideways markets.
Continue Reading: How to Predict if the Markets are Going to Fall Into Consolidation
It's very frustrating when you do get caught up in consolidation, you can get very agitated and be susceptible to emotional mistakes.
In this Forex lesson, I am going to share with you my top ways to anticipate if consolidation is likely to form or not, so you can side step the sideways markets.
Continue Reading: How to Predict if the Markets are Going to Fall Into Consolidation
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
{image} On the USDSGD daily chart, we can see how there was a bearish correction into a major support level as the USD lost some ground. Now the bulls are coming back in hard, and are defending the support level aggressively. Notice how price sold off into the level twice, but the moves lower were rejected by the market - demonstrating lower prices are not favored "hint hint".
We recently covered a setup on the USDSGD market - a nice set of bullish price action signals that formed at a major support level.
It was anticipated there would be a nice move upwards out of this setup, and the market didn't disappoint. We've only got bullish thick body bullish closing daily candles as price moved rapidly upwards last week.
We've only seen the first bearish candle now as the market slammed into resistance. This would be a good area to take profit on the trade, unless however you want to hold longer term, and see if the market will break through the resistance level, and push into new highs.
The only concern is a bearish rejection candle which has formed off the level - which suggests a possible sell-off. There has not been any bearish follow through from the setup yet, which means the bearish presence here might be just a small reaction to price tapping into the resistance level.
If price breaks the low of the bearish rejection candle, we could see a move lower - but for now price is looking very buoyant. The London session will most likely reveal more clues to where this market wants to go.
But for now, those who took profit on the bullish trade, congrats and best of luck to you all for this week's trading.
For more information about my Forex price action swing strategies or my MT4 tools, visit me at www.theforexguy.com
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Recently we looked at a few bearish candles coming off weekly resistance here on the GBPCHF daily chart, speculating future weakness.
There was a bit of sideways chop here around this major level, which is to be expected, see latest lesson: How to tell if the market is going into Consolidation.
Now price has broken free of the consolidation structure and pushed into lower lows. The last two sessions we've see the market try to rally back higher, but the old consolidation support is holding as new resistance - creating a swing level here.
We've also got dynamic resistance here from the mean value and the fact the market is moving down off weekly resistance, this looks like a good bearish swing trade setup.
Good luck on the charts this week.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
We've see the New Zealand dollar make a small comeback - regaining some recent losses. The market rallied off the market floor into a major resistance level.
Last session, the market attempted to breakout above resistance, but the move failed and daily candle closed back below the resistance level.
This is a sign of weakness, as the market didn't have the strength to maintain higher prices - leaving an upper tail on yesterday's candle.
We could see a bearish move out of this fakeout, there are also some bearish rejection candles off the resistance level sitting on the 4 hour chart.
For more information about my Forex price action swing strategies or my MT4 tools, visit me at www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Last session I put a blog post up talking about a fakeout that occurred through this resistance level, and a potential bearish trade opportunity.
Nothing come of the fakeout - price regained strength, and managed to bust back through the resistance line.
Now price has closed above the level, we want to see it now act as a swing level, by holding as new support. If any price action buy signals form here, it could be a good opportunity to position into an emerging uptrend.
For more information about my Forex price action swing strategies or my MT4 tools, visit me at www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
I was just having some lunch when I got a notification on my iPhone from the Price Action Battle Station tool for MT4 that there was a potential bullish trade opportunity for me to check out on the Australian Stock Index.
Not a market that I trade too much, but I checked out the charts, and this just happened to be a perfect swing trade setup.
Old resistance clearly had been broken out of and was now acting as support. The battle station indicator picked up a bullish rejection candle pattern and flagged it, and notified me.
I decided to take the breakout entry on this one - even though the retracement entry was available, I don't trade this market very much and opted in for the break of the high 'buy stop' order instead.
The trade has triggered and on it's way.
There is enough room for this one to make 1:3 risk reward before hitting the next major resistance level.
If you would like to learn more about the battle station indicator, you can find out more on the war room information page.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
