AUD JPY daily what do you think? 
swing with rejection candle bullish, I believe it is a good buying opportunity
swing with rejection candle bullish, I believe it is a good buying opportunity
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Sir This is Eur/Jpy Chart. We Found a Inside Bar in Daily Time At Weekly Resistance. Kindly Tell ME can We use Sell-Stop Blow This Inside. IS this Setup IS Perfect ? {image}
This is my weekly chart.
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AUD JPY daily what do you think?
This trade will be knocked out if the market decides to make the slightest retracement, and that's most likely to happen.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
{quote} Looks like a nice trade, but it seems like you're chasing price. Your entry is a bit off, and your stop loss is way to aggressive. This trade will be knocked out if the market decides to make the slightest retracement, and that's most likely to happen.
although it would not have been turned on the order, but a second above the high yes
but the stop would have to be longer, I think I'm right
soon buy their course, and participated in the room
A Battle Station alert has just come in - notifying us about a reversal candle on the GBPUSD 4 hour chart as the last 4 hour candle just closed.
Doing our top down analysis by checking in with the daily chart, we can see it also looks very bearish which aligns well with the situation on the 4 hour time frame. The H4 chart has a nice bearish trending structure to it right now - the classic 'lower highs and lower lows' are being printed with the downward momentum.
So we're obviously looking to sell, and sell 'in position' by targeting reversal patterns that form at the next lower highs as the market corrects and terminates.
The battle station picked up a bearish reversal candlestick pattern for us, which completes the puzzle here and gives us a frame work to build a short position from.
If this reversal candle plays out, and the downward momentum continues - then we are likely to see a move back down to the recent major lows.
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The battle station plugin dropped a bearish outside candle alert as we head into the NY session here for the US crude oil market (WTI)
Obviously oil has been a very bearish market for months now as it loses a lot of it’s value – you only want to be a seller unless you have a damn good reason to go against the established trend.
We’re still seeing lower high being printed on the weekly, daily and now the 4 hour chart. The bearish outside candle that was flagged by my candlestick algorithm because it did form at a new swing high (because we aim to sell high).
As we move into the NY session we can expect activity on oil to pick up, as its most active hours are during the US session.
A break of the low could trigger the next down move into lower lows.
www.theforexguy.com
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One of the charts we've been watching in the War Room is the EURGBP, focusing on the excellent trending structure here, and looking for opportunities to get long.
Trending markets are great to get into, but your timing must be correct and you need to have the patience to wait for the market to move 'in position' before squeezing the trigger.
Last session a previous swing high was tested and held as new support. This the opportunity we wait for when trading into a trend, focusing on these swing levels as they are the best entry opportunities for a trending market.
A bullish outside reversal signal formed, showing a bounce from lower prices, and confirming the swing level. Prices are most likely to rise up further from this outside candle, and push into higher highs on the next wave of trend pressure.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Quick Update on this...
I've pulled out my retracement order.
I don't like the look at this, we're seeing an Asia session fake out now selling intensifying as we move through London. This kind of price action is usually a bearish signal and a red flag here to anyone looking to go long.
I've pulled out my retracement order.
I don't like the look at this, we're seeing an Asia session fake out now selling intensifying as we move through London. This kind of price action is usually a bearish signal and a red flag here to anyone looking to go long.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
{image} One of the charts we've been watching in the War Room is the EURGBP, focusing on the excellent trending structure here, and looking for opportunities to get long. Trending markets are great to get into, but your timing must be correct and you need to have the patience to wait for the market to move 'in position' before squeezing the trigger. Last session a previous swing high was tested and held as new support. This the opportunity we wait for when trading into a trend, focusing...
Crude Oil not playing ball (surprise surprise), but one failed opportunity could lead to a bigger one.
Price has closed outside of the trend line structure here now, which is a very strong bullish event. If you're aggressive enough, you could take breakouts of the highs after the US session has opened.
That's really the trick with oil, as the real oil money comes into play as soon as the Chicago exchange opens and commodity futures are traded heavily.
If prices hold above the trend line structure, it could be the bottom of a much bigger move.
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Silver finally made a push down last week, just waiting for this trade to hit target now.
Getting involved with the NZDUSD today...
The NZDUSD has been grinding inside a consolidation structure, or sometimes called simply a 'box' here on the daily chart.
I wouldn't normally touch price action like this, as it looks very hostile, but there have actually been some good 4 hour bullish trade opportunities off the consolidation structure bottom support there, one of which I took last week.
At the market open we seen the market gap down - follow through of the heavy bearish price action we seen into last week's close.
Now the market has settled down, and we're starting to see bullish price action come back in again and the bottom turning point here...
The Battle Station alerted me to a bullish rejection candle that formed on the 4 hour chart right on the bottom of the consolidation pattern. As I mentioned before, this area has been dropping some good buy signals.
If history repeats itself here, there is an opportunity to make good return.
The bullish rejection candle is small, which is the only problem I have with it, but I already made some good returns from the previous buy signal, I am willing to re invest in this signal which has a high upside potential.
Not to mention the market gap still has not been filled for all you ‘the gap must be filled’ traders
Lets see how this one guys, hopefully it will be a nice start to the trading week.
www.theforexguy.com
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Just a quick update on the NZDUSD situation, a large bearish reversal candle formed that the Battle Station alerted me to, that has basically created a compelling reason to exit this long trade early.
The rejection candle shows the higher has failed, created a lower high, and basically itself is a sell signal.
So pulling out of the long here, and jumping into a short if my retracement price is filled.
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Last week didn't really offer much in terms of swing trading opportunities, but one big performer was the AUDUSD which aggressively rallied higher, which now has got my attention because of a breakout event that occurred which may be the catalyst for a strong reversal.
In the chart above you can see the tanned colored box which I've used to highlight the longer term weekly consolidation/ranging conditions. On Friday price punched through the structure level and closed above it.
Whether this is just an overshoot, or an attempted to breakout, not sure - but why I do know is that this is a fake out in the making.
The market is way to extended from the mean value, creating the mean to price gap. What it boils down to is the market is trying to breakout through a major level while at an exhaustion point. When ever there is major mean gap, price generally has a strong nature to want to fill the gap, in sometimes a violent correction.
Therefore I am expecting a bearish move here, watching for any bearish reversion signals to get me in short in anticipation of this move. Tuning in the MT4 Battle Station in to let me know of any bearish reversal signals that form.
Lets see how it this one plays out
www.theforexguy.com
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Another chart today at the market open which offers a nice mean reversion opportunity. This situation however, we do actually have a reversion signal that just appeared on the 4 hour chart.
We we look at 4 hour signals, it's important to do some 'top-down analysis' to align any smaller time frame trading with the bigger picture.
The daily chart shows price reacting with a weekly support level, and a mean-price gap scenario. This kind of technical confluence is already a compelling reason for a reversion to occur.
Lets check out the 4 hour chart...
The 4 hour chart shows a nice bullish outside / rejection candle has closed here. The battle station has picked up the pattern and sent out an alert.
Looking to see if we get a retracement price on this bad boy to significantly increase the reward potential. If a mean reversion is going to fire out of this reversal signal, a good entry price could make all the difference - easily producing a 1:6 winner.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Nice little swing trade on the Nikkei today...
A few nice setups formed across the markets last session, putting an end to the 2 week swing trading drought we've been experiencing.
The Nikkei actually produced a nice swing trading opportunity on the daily chart.
Price is starting to make higher higher and higher lows - the footprint of a bullish market. It appears this market is trying to make a higher low at its current location, by rejecting a previous resistance level as it now holds as new support.
The bullish reversal candle has a bullish body - give it some nice bullish presence, and sits right on the mean value area as it also holds as dynamic support.
Not looking for any extended moves here, I think its good for 1:3 risk reward.
www.theforexguy.com
A few nice setups formed across the markets last session, putting an end to the 2 week swing trading drought we've been experiencing.
The Nikkei actually produced a nice swing trading opportunity on the daily chart.
Price is starting to make higher higher and higher lows - the footprint of a bullish market. It appears this market is trying to make a higher low at its current location, by rejecting a previous resistance level as it now holds as new support.
The bullish reversal candle has a bullish body - give it some nice bullish presence, and sits right on the mean value area as it also holds as dynamic support.
Not looking for any extended moves here, I think its good for 1:3 risk reward.
www.theforexguy.com
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
