The discussion is based on my recent trading plan for EURUSD. How to identify false breaks and avoid traps.
You can't count cards in casinos, but you can count bars in price action. No matter what pattern you trade, I would bet that if it falls out of of the pattern in less than 5 bars, it's not going to happen, so don't waste your time. Come back to it later. But, if it holds the pattern for 10 bars, it's probably going to continue in the pattern for 20 to 30...
Consider the common situation in Forex when price makes a move for 50 or more pips in one direction. It could be a sudden move covering a large distance in just one or two bars, or it could move steadily over many days. Whether the move surprises you or steadily makes tracks in one direction, it happens that you notice this market might be trending. Will it...
Will Price Continue or Reverse Possible Expectation of Price and a Moving Average If less than 30 bars since price has been on the opposite side of MA - expect range behavior not continuation If more than 30 bars expect price to continue in 1 direction
Trading Breakouts with Keltner Channel When it comes to breakout trading, Keltner Channel is a very powerful indicator. The keltner channel breakout system works best when volatility rises. However, the Keltner indicator measures not just the volatility, but it can also show anomalies in the price behavior. Since Keltner channel indicator is lagging in nature, we...
Trading Pullbacks with Keltner Channel Trading pullbacks successfully can only be done in the presence of a strong trend. Using the Keltner channel indicator we can study how the price behaves around the upper and lower envelopes to gauge the strength of the trend. As you already learned when the price hugs one of the two bands and crawls along the band, we have a...
Answer is, it depends! ( no surprise here ;) ) So now let's talk about, it really depends on what factors. What does taking a small profit means? If we talk about Forex trading then, taking anything less than 5 pips of profit is generally considered as small profit where usually people target roughly 30+ pips of gain in normal circumstances ( or taking profit...
The market is working a range pattern the majority of the time which is good news if you know what to look for. Range patterns are full of information that will help you anticipate what comes next, so you can trade. Here are 3 examples that will make you chart smarter! The first chart is my personal favorite range pattern. When you see a well established range,...
Ranges contain elements of certainty which are rare in a speculative industry. With previously established highs and lows, you can anticipate where the market is likely to hold, change direction or stop all together. 5 interesting facts about range patterns when charting price action. 1 - The range pattern is good for traders who are terrible at cutting their...
In this pic we can see how parallel lines (candells) can show trend. When you see them you can expect much more bigger down trend. Thanks on supporting! All best!
Hello everyone, Many of you wonder how it feels to trade bigger accounts, and keeping it short: stop thinking punctual. Whenever you think I'm buying HERE and getting out exactly THERE. Forget it, never again. There's simply not enough volume for your positions - so what you do? You break it up and you start thinking the final average price. You stop...
Secret #1: Stick to ONE strategy. Find a strategy that makes sense to you and stick to it and it alone like a faithful wife and master it. This is probably the single greatest secret in all of trading. Master ONE strategy. There are no “systems” only strategies that work if you master them. If you jump around from one to another you will never master anything and...
GBPAUD May give us a great sell opportunity if the price break the Head and shoulder neck line. for who don't know what is the Head and shoulder Pattern it is > One of the most popular Chart Pattern. This pattern appears on all times frames and can therefore you can use it if you are a swing trader or a Daily trader. Formation of the pattern 1. Up trend 2. It...
Secret #1: Stick to ONE strategy. Find a strategy that makes sense to you and stick to it and it alone like a faithful wife and master it. This is probably the single greatest secret in all of trading. Master ONE strategy. There are no “systems” only strategies that work if you master them. If you jump around from one to another you will never master anything and...
The last few days has brought home some important insights about of currency pairs. The pair is a ratio of demand of one currency over another. I couldn't go into every aspect of this in the video in just 10 min. Based on my observations (which are not rules): 1. All pairs quoted in US-Dollars are vulnerable, as the Dollar heads south around this time. 2....
Secret #1: Stick to ONE strategy. Find a strategy that makes sense to you and stick to it and it alone like a faithful wife and master it. This is probably the single greatest secret in all of trading. Master ONE strategy. There are no “systems” only strategies that work if you master them. If you jump around from one to another you will never master anything and...
The double top pattern is one of the most common technical patterns used by Forex traders. It’s certainly one of my go-to methods of identifying a potential top. Just as the name implies, this price action pattern involves the formation of two highs at a critical resistance level. The idea that the market was rejected from this level not once, but twice, is an...
Can we see this rise above the 115.000 as per the news, Analysts at Nomura we expect a 0.2% (0.244%) m-o-m increase in US core CPI inflation for September following a 0.082% advance in August we could see this raise even with the bullish wedge seen on our chart