---- SUMMARY ----
This freeze-frame of the USDJPY 15m chart at the end of weekly trading is a near perfect example of a classic Price Action setup in progress...
This setup, according to Bob Volman, is called the "FIRST BREAK".
--- BACKGROUND ----
If you don't know... Bob Volman is a longtime Price Action trader and the author of two Excellent (yet very hard to...
This is a post focus in reading the price action in terms of how is the dynamic of the buyers and sellers, and how an appropriate reading of the overall context (in this case the up trend channel) in conjuction with price signals like fail break outs and price structure (In this case Higher Lows) can provide an idea of potential trading areas where the trader can...
Observe the chart for a moment, and you will see the support trendline.
Now, price on the 4h candles has broken below this support trendline, but has never closed below it.
After the first three points on the trendline, illustrated by the first 3 circles, the trendline was established as valid.
(It generally is considered that 3 points are necessary for a...
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...
Clues are piece of information/evidence/facts that helps investigators to discover/solve sequence of an event. In this case, these clues are used to identify the sequence of price action/trend. These clues also can be used as signals to confirm price action direction or even a sequence of multiple trends.
Left upper corner there are 3 clues that is informing us...
