Hey Guys! I'm currently watching the usd/jpy pair for a possible daily bias setup. In this post, I explain the reasoning for the setup including the stop loss and target levels and further explain what I'll be looking for in order to confirm this set up. I'll keep you guys updated! Have a great day! Ken
A basic concept in price action trading is that when it comes to the analysis process of price, some candles are more valuable than others. By "more valuable" I mean, some candlesticks have more weight in the analysis process of price than others. Before I explain which candles have more inherent value, let me explain a bit of price action philosophy. When it...
Hey Guys! As you guys know, the weekly bias on the aud/jpy was short. Or in other words, price was likely to reach 87.30 before reaching 98.66. In this post, I explain the reasoning for this bias, as well as an review of the set up. Have a great day guys! I'll keep you updated! Ken
Hey guys! Like I explained in the last update, a new weekly long trade formed this week. Thus the lower confirmations are reset at the moment. From this point onward, I'll be watching for new lower confirmations to form to decide the weekly bias. That's it! I'll keep you guys updated! Ken
Hey Guys! The current bias on the eur/jpy is long. Or in other words, price is likely to reach 148.44 before reaching 140.77. That said, since it is the holiday season with low liquidity, there are a couple of things I'm looking out for in terms of this long entry. In this post I explain how I plan to trade this setup. That's it ! I'll keep you guys...
Hey Guys! The current eur/jpy weekly bias is short. Or in other words, price is likely to reach 124.41 before reaching 148.44. So if I get a pullback to the 147.44 price level, I'm willing to take a short entry with a stop loss at 148.44 and its main target at 124.41. That said, since this pair has overarching long strength on it, I am ultimately waiting for...
Contrary to popular belief, when an asset is going up, that doesn't necessarily mean the asset is long biased. It's the same when price is going down; just because price is falling doesn't make that asset short biased. What we see on a chart at first glance often times is just random price movement with no substance. Hence, "Rangy Markets". Price will arbitrarily...
Hey Guys! The current weekly bias on the eur/jpy pair, (though yet to be fully confirmed) is long. Or in other words, price is likely to reach 148.44 before reaching 124.41. In this post, I explain the reasoning for the long bias, as well as what I'll be looking for in terms of full confirmation of the weekly long bias. That''s it! I'll keep you guys...
Hey Guys! The weekly bias on the Eur/Jpy for the last 3 weaks was long. Or in other words, price is likely to reach 145.63 before reaching 124.38. However the bias's main target was hit this week, so the weekly bias is back to neutral. In this post I explain the reasoning behind the long bias, as well as why I did not take the long entry. That's it! I'll keep...
Hey Guys! The Aud/Jpy's weekly bias at the current moment is short. Or in other words, price is likely to reach 87.30 before reaching 98.66. In this post I explain the reasoning for the short bias, as well as how I plan to trade this setup. That's it! I'll keep you guys updated! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Hey Guys! The weekly bias's main target was hit this week. So the weekly bias for the usd/chf is back to neutral. In this post I explain how this set up formed, moreover how I managed this set up for the last couple of weeks. That's it! I'll keep you guys updated! Ken Disclaimer: This is not Personal Financial Advice.
A foundational concept in "pure" price action trading that underlies all trading decisions is that price will never "exactly" repeat itself. What I mean by exactly is that current and future price will never be 100% identical to past price. At first glance it may seem the same, but when boiled down to the lower time frames, you'll notice that current price is...
Hey Guys! At the current moment the weekly bias on the usd/chf is still long.Or in other words, price is likely to reach 1.00641 before reaching 1.93699. That said, I'm still currently looking for a short entry. In this post I explain the dynamics of the weekly bias as well as the reasons behind why I'm looking for a short entry. That's it! I'll keep you guys...
Hey Guys! The current weekly bias on the Eur/Jpy is short. Or in other words, price is likely to reach 124.38 before reaching 145.63. However, like I've been mentioning over the last couple months, the EurJpy has overarching long strength, thus I am waiting for the weekly bias to revert back to long so I can take a long entry. As of today, there is a...
When it comes to price action trading, price analysis is at the foundation of our trading methodology. This analysis dictates all our eventual actions in trading. So seeing that price analysis is at the core of the price action trader's trading, we want to assure that we analyze with as much precision as we can. So how is that done? Let me explain how I go about...
Hey Guys! The current weekly bias on the Eur/Jpy is short. Or in other words, price is likely to reach 124.38 before reaching 145.63. However, like I've been mentioning over the last couple months, the EurJpy has overarching long strength, thus I am waiting for the weekly bias to revert back to long so I can take a long entry. In this post I explain the...
Hey Guys! At the current moment the weekly bias on the usd/chf is long.Or in other words, price is likely to reach 1.00641 before reaching 1.93699. That said, I'm currently looking for a short entry. In this post I explain the dynamics of the weekly bias as well as the reasons behind why I'm looking for a short entry. That's it! I'll keep you guys updated! Ken
Hey Guys! Here are some characteristics of currency pairs that I noticed over the years. Perhaps it'll help you find the pairs that best fit your trading style, or perhaps you can use this information as an add-on to your current strategy. Gbp/Usd - Tends to overshoot key levels. - Can use to get better risk/reward. Both on entries and targets. - Can expect...