Price action swing trading - Page 7
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  1. #61
    Good day guys...hows your trading been going, hope this thread and my analysis has been of help....

    Coming up on my radar is the GbpUsd...

    We see price break a major support level @ 1.57, travelled, then retraced back to test this level and has been clustering since July forming a strong resistance around this zone as clearly seen on the monthly and Weekly tf....
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    Also price has formed a bearish gartley as seen on the daily tf (with signs of bullish weakness already emerging) moreso at the period high...

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    4hr gave an entry but was not taken simply because no enough signs of bulish weakness yet on the monthly/weekly tf, so I prefer to patiently wait for daily entry signal..

    Action plan for now is simply to keep watching the daily tf for entry candle formation.. and TP will be at 1.49 should we get an entry signal on the daily tf...

  2. #62
    Good day guys....
    Coming up on our radar this week are GbpCad, GbpAud...

    I posted full analysis here ....ANALYSIS | Pipnailer Forex Traders Academy
    Attached Images Attached Images  

  3. #63
    Good day guys...its been an eventful pipful trading experience at FTA...
    Lets take a look at what opportunity the GBPUSD has for us in days/weeks to come

    Price has been trending beautifully bearish until it came down to strong support zone in February as evidently seen on the monthly tf, from where it bounced giving a bullish orientation on the lower timeframes for the past 2 months now...
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    Price presently has no definite ''TREND'' direction for long term trading and we have it moving in a cluster (as showed on the weekly time frame....the yellow box represents our cluster box ), and we still have price below the weekly bearish trendline..What these tell us is that price is still predominantly bearish, but the bearish momentum is signalling to be coming to an end..however, we cant confidently say we have
    a resumption of a bullish trend yet..as seen by price action on the weekly tf..but we can to a large extent ''anticipate'' a bullish bias in the days to come because we a slight weekly bullish divergence, moreso if price breaks the cluster box then go on to break the bearish trendline also...
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    but can we see an early sign of a bullish bias perhaps on the lower time frames? Let's check them out..
    On the daily tf, we see a PENNANT price formation, thats broken bullish and rallied to resistance at the top of our Cluster box (In yellow)....
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    This sets us on alert for possible bullish opportunity, and we'll be on the watch out for this on the 4hr time frame, and this is what we'll be watching out for...a complete BTR
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    We've seen a Break of the pennant to the bullish side, then price Travelled (and still probably travelling)...what we'll now be waiting for is a Retest of the pennant price formation...We'll be watching to follow the short term retrace if price gives a good signal (using one of our proprietary strategy at FTA), and then, upon a complete retracement, go Long for a major move on this pair all things been equal....
    Send me a private message if you want to join us at FTA...

  4. #64
    GU UPDATE
    Still on our radar is GU......Price rallied up to the next resistance level at 1.460 area after breaking the pennant formation and now showed signs of bullish weakness....what we expect is a short dip to retest the pennant at 1.4347 area (50% retracement of present bullish wave on the daily tf), then a resumption of bullish trend....we keep watching and post updates.
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  5. #65

    Default Gu update

    GU dipped has expected to 50% retracement of the triangle breakout wave Name:  GBPUSDDaily.jpg
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    and its expected to commence its rally anytime from now...We'll watch out for reversal candle formation on the daily to go long/or follow with one of our strategies to go long on 4hr tf...
    Last edited by pipnailer; 05-14-2016 at 08:20 AM. Reason: DOUBLE POSTING OF CHART

  6. #66
    Time to make money again.....This time, coming up strong on my radar is EURCHF...I'll be looking to go short on this pair...Here's why

    The daily tf shows a break of the bullish trendline, higher timeframes show a break and retest of a support/resistance area..Name:  EURCHFDaily.jpg
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    On the lower time frames we also see in addition to break and retest of the bullish trendline, a descending triangle formation...Price tested the top of this formation and dipped...so i'll be watching for a possible break of the formation's bottom, a retest, then a bearish reversal candle formation on the 4hr/1hr tf.
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    Aggressive traders would have short this pair at any of the labelled 1, 2, 3 points....Also note the area at which this price pattern formed (looking at it from the 4hr tf)...we see its close to the top area of the broken bullish trendline, which implies a sell signal will still be considered early enough, since its still at the top area of the emerging bearish trend continuation...
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  7. #67
    On my radar this week is EurUsd...and i'm keeping this analysis as simple as possible

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    The weekly chart shows a bearish break of our triangle price pattern formation 2 weeks ago and we've seen some level of retracemet afterwards ....more evident on the lower timeframes.

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    The retracement struggled at 1.1125 resistance, finally broke it and seems to be rallying to 1.1208 before a dipping

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    However, price is no respecter of any trader, and so,i'll be watching the possible break of the bullish trendline on the lower time frame (regardless of how high it goes before then),then retest and bearish reversal candle formation to go short

  8. #68
    Join Date
    Mar 2016
    Posts
    3

    Default Long on USDCHF

    I just went long on USDCHF with the following thoughts:
    - recently had a bullish breakout of a descending resistance level (see chart)
    - had a retracement to the 50% fib level which seems to be offering some support
    - I placed my stop below the 61.8% fib level, which was has also been a previous level of support / resistance
    - see screenshot for illustration

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    Last edited by DrVanNostrand; 07-06-2016 at 05:12 PM.

  9. #69
    Join Date
    Mar 2016
    Posts
    3
    To update the trade above, the trade went in my favour and was further boosted by the non-farm payroll report (US). I am going to take my gain off the table before the weekend with an 80-pip profit. Cheers!

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  10. #70
    Join Date
    Aug 2016
    Location
    South Africa
    Posts
    15
    Great read, thank you!
    Having trouble viewing the "DRAWING TREND LINES 2" document. Please help

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