Video Analysis of the Daily and 4 Hour Charts - Page 2
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  1. #11
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    Default Aud usd reversal as expected

    Hey all, how´s the trading going?

    As was predicted yesterday, the AUD USD has started to pullback after being volatile above the Outer Uptrend Line.



    PROJECTED MOVEMENT


    Name:  AUG 1 2015 AUD USD VOLATILE TL.png
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    BULL CANDLE - REVERSAL STARTED?

    Name:  AUG 1 2015 AUD USD VOLATILE BULL.png
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    Based on this, we are likely to see the market either;

    1. Rally, forming a Setup that leads to a stronger Breakout above the Downtrend Lines.

    2. Move sideways to form a stronger Consolidation before breaking the Outer Trend Line.


    Duane

    DRFXTRADING

  2. #12
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    Default Euro aud - bear crown setup on the way

    Hello all, how´s the trading?


    Apart from some brief volatility related to the USD NFP this morning, the Euro didnt really move much today against the AUD. Right now it appears that a Range Setup could be taking shape on the Daily Chart, with a Bearish Wave left to complete the Range.



    Name:  AUGUST 1 2015 EURO AUD RANGE.png
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    If we see a break of the Uptrend Line - most likely with a Bear Crown - then we will see the pair head towards the Support boundary already formed..



    Name:  AUGUST 1 2015 EURO AUD CROWN.png
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    Duane
    DRFXTRADING

  3. #13
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    Default Aud nzd - pennant setup too close to downtrend line

    Having broken through several Downtrend Lines with a sharp rally, this pair has now finally taken a breather below the last major Downtrend Line. Right now it is too close to this Trend Line to justify a trade, because as we now see with the AUD USD above, things tend to become erratic when we`re this close to these major boundaries.








    So with that risk in mind, the better option seems to be to wait it out until we get a break bearish to resume the major Downtrend. Trading within this boundary can be done BUT!! whenever these Consolidations are this small, they usually are difficult to trade. The safer option is always to wait for a clear breakout.

  4. #14
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    Default Nzd jpy - downtrend to continue with range breakout

    Hey guys,

    It looks as if this Downtrend will be headed towards the Outer Uptrend Line following the Bear Crown (very common nowadays ) that led to the break of the Inner Uptrend Line..


    We are now seeing a Range Setup below this line at the Inner Downtrend Line and just below the Outer Downtrend Line. Given the greater bias to the downside, this Range should give way to a break of its Support boundary over the next few days to carry us to that Outer Uptrend Line.

    However, what you will find is that even though most breaks from the Inner Trend Line tend to go to the Outer Trend Line, once this major trend is still in place, it could also U-Turn to resume this trend without hitting the Outer Trend Line. Nevertheless, given the strong Bear Crown Setup that led to this new Downtrend, the more likely scenario seems to be a continued move towards the Outer Uptrend Line.




  5. #15
    Join Date
    May 2013
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    The analysis is good, but too many trendlines being marked at different time frames. Initially it is confusing but when we co-relate with the actual market movement the analysis is fruitful.
    Last edited by Royalblood; 08-12-2015 at 12:11 AM.

  6. #16
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    Hey man thanks,

    Ok, less trend lines would make it easier?

    Well based on how I use Price Action, it requires these Trend Lines in order to explain important movements such as breaks that take us from one Trend Line to another etc. and to show those who use them how to draw them.

    However, if some of these are not necessary in explaining whats happening then I can adjust.

  7. #17
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    Quote Originally Posted by DRFXTRADING View Post
    Hey man thanks,

    Ok, less trend lines would make it easier?

    Well based on how I use Price Action, it requires these Trend Lines in order to explain important movements such as breaks that take us from one Trend Line to another etc. and to show those who use them how to draw them.

    However, if some of these are not necessary in explaining whats happening then I can adjust.

    I understand that zooming in and out of the trendline according to the different timeframe analysis is essential, just that a little bit of too much for newbie or amateur trader.

    Is there any way that we can just use the trendline at the larger time frame and keep the same as reference for trading, just my query. Thanks.

  8. #18
    Join Date
    Aug 2015
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    VERY educational. You do a great job of explaining the all the possible scenarios to keep an eye out for. Please continue to keep this thread active as I feel it may be one of the highest quality educational threads on this board.

    If I may ask, what do you think about the pennant that appears to be forming above .6500 on the NZD/USD pair?

  9. #19
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    Hey RoyalBlood,

    I understand your concern.

    The problem is that when I zoom in, there are additional Trend Lines that are formed that may not be visible when I zoom out. So just using the trend lines from the wider view may lead you to miss important things taking place such as Trend Line breaks on a closer view.


    As you get used to them, it will become easier.

    Regards
    Last edited by DRFXTRADING; 08-13-2015 at 12:45 PM.

  10. #20
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    Hey PoPip thanks for the good words. How is your trading going and what strategy do you use?


    Yes that is a Pennant being formed. I actually anticipated it on Monday. It was either going to be a Pennant or Double Bottoms...


    Name:  AUGUST 2 2015 NZD USD PENNANT POSSIBLE 1.png
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    Name:  AUGUST 2 2015 NZD USD PENNANT 5.png
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    I was actually leaning more towards it being a Pennant...



    Name:  AUGUST 2 2015 NZD USD PENNANT 2.png
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    Name:  AUGUST 2 2015 NZD USD PENNANT 3.png
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    Name:  AUGUST 2 2015 NZD USD PENNANT 4.png
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    ..one of the "tricks" or dynamics of the Forex that can lead to losses.


    Right now it could lead to a breakout to continue the Breakout from that Range Consolidation or rally briefly above the Downtrend Line..

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