Video Analysis of the Daily and 4 Hour Charts - Page 6
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  1. #51
    Quote Originally Posted by GeneFX View Post
    I think that Yen will likely depreciate in value over the coming week because of the policies coming from the BoJ who are actively trying to drive the Yen down here's an article I read last week about various currency pairs and their outlooks.
    https://forexforceblog.wordpress.com...pair-analysis/
    What about the growing risk-off environment we're seeing across global markets? How would a ballooning of that strategy impact your opinion?

  2. #52
    Join Date
    May 2014
    Location
    Jamaica
    Posts
    250
    Its funny...spent 5 Years studying Economics, 2 Years at my Central Bank, competed in Fundamental News Trading at Dukascopy..for moves of 30, 50 Pips, yes, but for moves of 100 - 200 Pips, news doesnt matter.

    If a news announcement is gonna have an impact, just have to wait until its reflected in the Daily /4 H Chart Signal. No need to actually predict the news. Just wait for the signal and trade it. None of my trading needs to look at news items. Everything is reflected in the Candlestick Signals.

  3. #53
    Join Date
    May 2014
    Location
    Jamaica
    Posts
    250
    WHY DAILY CHART ANALYSIS IS CRUCIAL TO DAY TRADING & SCALPING SUCCESS


    Now, even though I preach the benefits of Swing over all other types of strategies, I always say that knowledge of how the Daily Chart is crucial to avoid unexpected reversals on the smaller time frames. I remember a time when I Day Traded that I only had 1 successful trade out of 32 trades in a single month. Even though I had a good strategy, it was not enough without using the patterns of the Daily as the main guide.

    Take this NZD CHF back in September 27, 2016. In the charts and video below, I warned about why it was too risky to start trading long despite the Bull Candle given at Support of the Daily Chart Pennant Setup.



    Name:  ADS NZD CHF PREDICTED WEAK CANDLES.jpg
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    This would have tempted many to start trading Long in hopes of a major bullish move over several days. But instead, the market reversed sharply to take out the Bull Candle and any long positions that were open.



    Name:  ADS NZD CHF REVERSAL CANDLESTICKS.jpg
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    Now this is where it gets tricky. Even though it was a strong bull candle by itself, given the size of the Consolidation, it was weak. What you´ll notice is that certain types of signals are more appropriate for certain size of Consolidation, but not for others. So you have to know which combination of Signals and Consolidations give you the green light to start trading and which are risky to trade.


    Just like Indicators, there are times when Candlestick Signals will also give False Signals that lead to losses.


    So this is one of many examples I´ve seen over the years that have created traps for traders. Another one that could be on the way is for the EURO AUD.


    Daily Chart now giving a Bearish Signal indicating a move back inside Range...



    Name:  JANUARY 3 2016 - EURO AUD DAILY SIGNAL EXPECTED.jpg
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    ....but the bullish move on the 30 Minute could easily tempt us to start going long in expectation of a Trend Line Break....



    Name:  ADS EURO AUD 30 MIN REVERSAL TRAP.jpg
Views: 17
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    Even if it rallies, this is likely to be temporary and risky to trade. The better option will be to wait on a strong bearish signal to ride the wave down for larger trading gains.


    Bottom Line.. we gotta analyze the Daily Charts and their Candlestick Patterns in order to stay ahead of this little game...no way around it. Larger Time Frames control the rest of the market and we gotta include them as part of our trading. It will tell us the when, where and how to trade, how many pips we can get, and whether its really worth the risk.



    Duane

    DRFXSWINGTRADING

  4. #54
    Join Date
    May 2014
    Location
    Jamaica
    Posts
    250
    Hey Traders, how goes it?


    Following up on that analysis above, the EURO AUD provided a good trading gain of 88 Pips.


    Below is the Chart and Video analysis the anticipated this bearish move


    Name:  JANUARY 3 2016 - EURO AUD DAILY SIGNAL EXPECTED.jpg
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    ...here is the 4H Chart Trade Entry



    Name:  JANUARY 11, 2016 EURO AUD 4H SLOW BREAK TRADE BLOG SMALLER.jpg
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    and the Trade Result on the 4H Chart....


    Name:  JANUARY 11, 2017 EURO AUD 4H CHART FXCM 88 PIPS SMALL BLOG.jpg
Views: 1
Size:  28.8 KB


    ...and on the Daily Chart...



    Name:  JANUARY 11, 2017 EURO AUD FXCM DAILY RESULT 88 PIPS.jpg
Views: 1
Size:  32.7 KB




    Strong gain to take advantage of False Breakout Reversals.


    Duane

    DRFXSWINGTRADING

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