In response for your requests guys to explain the rational behind the live trade we took on GBPCHF. Here is the explanation. On the left hand side daily chart, the price started the bearish behavior on the 78.6 retracement level for the overall bearish wave as shown on chart. As it formed two major bearish shooting star candles. That was not enough for me to...
How to trade Inside Bars: 1- put SL some pips under (over if short) high value of the pattern 2- enter after the pattern is created 3- I usually trade with a risk/reward of 2
How to trade a tweezer top/bottom: 1- They must placed at the end of a consolidated trend; 2- I usually put a SL some pips under low value of the pattern 3- I usually trade this pattern with a risk/reward of 3 if trendfollowing and 2 if not
How to spot a Fakey Pin Bar 1. long candle called "mother" 2. an inside bar (remember that high and low values of an inside bar MUST be inside high and low values of the previous bar) 3. pin bar (long shadow in the opposite direction of the future trend and a small body) How to trade it Stop Loss some pips under pin bar low Enter after pin bar formation ...
Friends, I haven't had time to post any of my trades in recent days. So i thought i would post some of the trades I took recently. I know this is after fact, but the aim is just to share the knowledge and experience. I made 4 trades, 3 winners and one loser. I will post them throughout the week as i am taking a small rest from markets during the election...
ENGULFING PATTERN is often considered a "reversal pattern ", but it is not always so, this model can be considered a simple pause of the major trend, and for this reason, we have developed a potential "minimum target". On the chart we published four basic questions, and if you are interested in learning this pattern, subscribe to this idea, because soon we will...
The Last Kiss, according to the book 'Naked Forex' by A. Nekritin and W. Peters.
Examples of effectively using Bollinger Bands together with candlestick methodology.
Today I received a question regarding what indicators or websites to use to infer and compare the strength between related currencies. I responded with a long winded explanation as to why it is not necessary to use indicators or websites to infer such information because it can be realized solely through price action. If we look at the daily range today on GBPUSD,...
1 we have to analyse what kind of gap was it. ( runaway, breakaway, exhaustion) 2 current gap on a 1 minute chart is a Breakaway, as it has broken through a short term trend line, 3 when we have a breakaway gap, the gap close is less likely, so we're waiting for a consolidation that will nearly fill the gap, in our sample it's 50% Fibonacci area. 4. we're placing...
Greetings Fellow Traders, Price Action, Support and Resistance are a very critical part of trading and always aid in the removal of emotions from any trading scenario. I've posted a couple of analyses recently regarding this pair, and one of them turned out to be an opportunity that would have been a loss. It's just as important to know when to exit your trade...
Here is another example of how the high and low for high wave candles are usually trade-able support and resistance levels. I think the chart explains it all. When spotting a long legged candle(long shadows) its important to keep an eye on the high and low of the candle as potential key levels of resistance and support. In many cases those levels act as barriers...
Introducing another posts type named " Watch This Candle", I will try to spot and explain the main important candlesticks patterns. I wish you like it. If you do please comment and agree so i...
This is a very simple, yet very effective trend following strategy. 1. Display price using Heiken Ashi candlestick. (Removes a lot of the noise and allows to see smoother movement). 2. Trading daily charts allows less whipsaw movement and much cleaner entry/exits. 3. Confirm if trend is UP, DOWN or SIDEWAYS. Entry Signal is: 1. Medium to Large HA candle...