Free forex price action signals gift
I said the red candle could be exhaustion which would indicate taking a long trade or weakness. It should not have had anybody short because I wrote looking for a lazy pullback to take a short. If anybody went short, they did so without any setup to do so.
As for a long pullback trade, momentum into the corrective move is not something I look for when taking a pullback trade. I will generally look for a lazy pullback and a measured move in the same direction of the momentum down. However, after the chart was posted we had a small range form which can work off the momentum move that has occurred.
The four hour chart puts in a higher low on the 11th and the four hour consolidation sets up a breakout trade into the higher time frame pullback in price. The small candle as seen on the setup chart, for me, is not a failure test. I would have had to see the low of the 8th taken out on the 11th off the four hour chart to see a failure test.
Instead, it put in a higher low. It certainly can. Shingi Hi Sd, thanks for your very insightful response. I realise now that I did not fully read and understand the comments you made on the setup chart. Once again thanks for your comments and I also learnt some new things form your response. You are welcome. You should however identify for yourself exactly what a failure test looks like and conditions for it. If you go to the four hour chart around your entry, if that higher low was not put in and we revisited the lows, there is a potential for a test.
Because on the four hour chart, you can easily see the momentum thrust lower that sets up the 2 day consolidation on the daily chart. Shingi Sd- Thanks again for your response. Pin type bars can show up any place on the chart. It is what sets them up that makes the difference. Remember, we are not trading the candle…but what it means. As an example, if a chart makes a new high after a momentum run in price, pulls back shallow, runs resistance and price is rejected, that context gives weight to a pin type bar.
If trading a daily pullback, the lower time frame may show an exhaustion thrust lower and then regain higher price via a pin type bar. That would be a failure test of lows in the context of a pullback on the higher time frame chart. It makes a good entry in that scenario. Johnniemac Your gbpusd setup this week was quite uncanny! Should have set my pending orders earlier Almost right to the pip before the pause. Entry from the four hour when price based right under resistance wash rinse repeat Morning SD i would love to give your signals a shot but as a newbie i am struggling with time frames for your pairs ,as it seems i am going to have a great time here.
Thank you in advance. There was upward momentum and then a consolidation and a failure test of highs and I decided to go short on the pair. I am still in a trade right now and the pair has given pips so far. I thought the failure test of highs was a good signal to go short. Was it a good idea to go for this trade? You did not post this pair. Even better was your explanation behind the trade as it sounds like how I would describe it.
I would add in that the breakout of that range that produced the large momentum candlestick pointed to a reversal. Breakouts that fire from the bottom of the range right through the top of the range, does not make for a breakout that will hold. Good for you! I tried to steer clear of the GBP crosses because there was too much talk about Brexit so I thought there would be too much volatility.
It can become a rabbit hole as you start to consider everything that is going on in the world. Find the setups, trigger the setups, and manage the trades. Shingi Hi SD, Hope you are doing well. The pair broke out on the 4th and I am still in a short trade today 8 Feb morning.
It was one of those pullback trades. You did not post this pair this week. If you flip to the weekly chart, those spikes are not something I care to risk on. Glad it is working out for you. I was late to the party ; need to monitor your setups more religiously!
The ones that took of in the other direction, no triggers. The others ones, pending orders through four hour structure. I am adjusting stops on trades as mentioned earlier. Patience and trust is a virtue in trading. JohnnieMac Absolutely. Sort of set and forget until triggered! I was off looking at other stuff this week so kicking myself. I use pending orders and usually off the four hour depending on the chart BUT it has to show some structure to trade off of.
Glad you like the scale and trail. Some will have an issue because there will be times you give back but on the flip side, when they run and many times a year they do the profits can be obscene. The scale at is a pat on the back profit taking for a job well done! Paul Many thanks for the awesome forex impactful insights through your free PA Course. I have a question though.
I want to know whether I need to wait for the daily candle close at or near SR before scaling down to the 1 hour or smaller timeframe chart to hunt for signal or whether to wait for a signal to fully form on the daily chart before going to the lower timeframes to wait for signal at the same daily SR?
Thanks a million for always being there for us. That is a good question. I use the four hour chart as my lowest simply because of market noise. I have seen candles look bullish only to close down on the day as the selling steps in close to the close. A tough couple of weeks to start the year but the same everywhere! I have three positions — long in sugar, long in GBPAUD, and a short in eurgbp The price structures are not great right now and momentum is stepping in to the opposite direction. Momentum, direction, pullbacks and breakouts variations of them.
Too much info for me was never a good thing. I am still short holding with pips and taken some off for profit. You do a fine job thank you. Great to read this. John Hello, Happy new Year and thanks for your help. Thanks again and wishing you the success. The information I put on the chart should be enough for you to know what the trend is I am trading. Clarin Happy Hoping you have a great year.
I did not get all of the move but pips one trade. Was that good you think? You are right because the other charts did not do to much. SD Hi Clarin and happy to you as well. The failure test certainly was aided by the momentum move from lows to break highs. Generally, especially a range, if price thrusts up from the bottom of the range or lows in this case , the moves are often times short lived.
This gives rise to the failure test upthrust and immediate reclaiming of lower price. The trailing stop is fine. If you go back to the daily chart, you will see a measured move of Jan 3 high to low of Jan 7 projected from high of Jan 10 comes in around 1. Good job! This blog is not a documentation of my own trading and rarely comment on any move I make in the market. I do post up from time to time trades where there is something to learn.
My swing trade is currently a long in Natural gas since Thursday. Benny You helped turn my tradin g around in after 4 years of hit and miss. I wish for you a best and blessings for your life. Thank you Hey Benny! Awesome to hear! You take all the credit my man, I just gave you a path.
Bring up your charts and look for the same type of pattern or chart formation. You can, if price is important to you, open in a new window and zoom in. You can compare yours to mine and see a relationship, no? Bill Thanks for sharing. SD Hey Bill Beginners may have an issue at first but you will quickly get the hang of it.
I lay out my technical look at a currency pair, in the above case selling the AUD from a pullback in what is a downtrend on both the daily and weekly chart. Other context is in play but is far too much to go into here. You will see it on the charts at times and at the end of the week. You have to find your way around the charts, how to enter and such…and this site is an excellent resource so I am told.
My observation is that you have brought to bear those pairs that traders most times neglect or thinks that not much can be gained from. Thanks a million you are truly a Mentor Thanks. As for the charts, I actually look at non-US crosses first as they are not as affected by U. I make much more trading those as opposed to any USD cross. I look for pairs that are demonstrating moves that have a true edge in the market and the context it forms in.
What I look for is truly evident in every chart I post. Thanks, J I know what I am looking for on the chart and have been doing it for well over a decade. Stick around or check the archives, you will see the same approach every week and the explanation of how price played out on the next update.
Thanks for coming by! Juan Thanks so much! J Thanks for saying it Juan! I am happy to hear from those who are getting something out of my work! Also, I will like to see if the Trend reverse or it continues as suggested after the supposed PullBack…Once again, Thank you for posting. Thanks for reading. Well, it is not a supposed pullback, that is what price is doing. By Binary Options Post We are a team of traders who deliver free forex signals and crypto signals.
The app is designed to help you with daily signals and new trading ideas. Traders can use it to obtain better insights into the forex and crypto markets. For every signal, you can read an analysis based on fundamentals and price action. Signals for entry and direction Notifications in real time Price action lessons Before we publish a signal, we start with the weekly outlook and the general market landscape and then narrow the scope to the daily economic calendar.
Moogugis