short entry evolved in euraud with a inverted pin bar ,sl is yesterday high,tp is indicated line
I’ve always been wary of rejection candles that close bullish; I’ve had my hand bitten on more than one occasion. I’ll be leaving this one to play out on its own.
it is my thought ,on Monday close all yen pairs price action signal ,its got breakout in Asian session,and also double inside bar get breakout so we can consider it as exemption case i checked all the time its breakout in asia and london follows.
what is ur thoughts guys
ps now-a-days traders are so silent in this thread,i know that we are getting green pips…
Sometimes London follows Asia; other times, it does not. On a long enough timeline, you’ll see it flips back and forth. Right now, London may follow Asia. But it hasn’t always been the case, and it certainly won’t remain the case. Be wary of the trades that require logic fallacies such as, “London follows Asia breakouts”.
Plus, the Yen pairs have been giving some really weak corrective pullbacks as of late, I don’t like the way they sit.
You’re all probably sick of hearing this from me, but… I’m leaving this one alone. Not just because I don’t like the quality of the signals, but also because I tend to avoid the Yen altogether.
There is a nice short on GOLD. But unfortunately I miss that for sleeping in that time.
its a big opportunity on Friday close inverted pin candle ,on Monday it didn’t triggered ,and another pin,next day in London session get triggered and next day rest is done by fed. i am the blind man ,opportunity is missed
Hey Everyone
Happy New Year to all, I hope everyone enjoyed their holiday break and looking forward to making pips in 2013.
To kick off the year,
There is a nice setup which has formed on the GBPUSD, I was watching this setup form during the New York session yesterday and I just wanted to share it with you guys. Let me post a chart of the GBPUSD at the time…
This chart is a screen shot when I first noted a possible trade setup during the last New York session, I’ve marked a significant weekly level on the chart and you can see price has tried to breakout the top. The market quickly rejected this breakout trapping the bulls into a bad position, this type of failed breakout bull trap can be used to our advantage. Now that we know higher prices past that weekly level are not desired by the market, or the bulls have just been exhausted… we can look at shorting.
The significance of this setup is the fact that it’s a strong weekly level and the scale of the breakout was quite large. There was a large 4 hour rejection candle that aggressive traders could positioned in early on, but now the Daily candle has close as a bearish rejection candle for Price action traders to take advantage of.
These type of flase breakout move at weekly levels often kick of quite larger longer term moves, so it will be interesting to see how Price Action pans out in the next few sessions to come.
Interesting and logical stuff. Price action does seem to be the way forward to me and I am sick of indicators that keep telling me what has happened! Clearly this setup has reacted in exactly the way you expected having dropped 80 odd pips so far today. I am going to follow this thread with interest and try and read back through the lsat 140 pages. Happy New Year and many thanks for your knowledge.
Hey Forex go’ers
That Bull trap setup that we recently discussed has sold off nicely, quite aggressively actually. That just goes to show how trading like this, without the use of any indicators and just utilizing the price action story that is on the chart can really be.
Surprisingly another Asian false break setup has formed again early in this Asian session, this time the bear attempted to punch through support, then the market rejecting the breakout. We’ve actually used this as an exit signal for our short trade as there is now a very high risk of the market pushing higher off this bear trap type price action setup.
Aggressive price action traders could long this setup, but would be advised to look for further bullish price action confirmation throughout the session. I can easily see price move upward from this false break.
Good to see you back mate, hope your friend is better now
hi dnb,
pair doesnt retraced to 50 level its has down without me,and dnb it got breakout in asian session and did u trade it?
Hi Vasude,
Hope you had a good new year. Yes I shorted the bull trap failed breakout of early Asia a few sessions ago. Once I seen the false breakout I just pressed the sell button straight away. I was already in the trade before the signal candle closed.
Am I going to press the buy button today on today’s failed Asian breakout?, yeah I probably will. Just waiting to see what happens closer to London and waiting to see if bullish PA picks up then I think it will be a go. I may wait for the break of the high of the 4 hr rejection candle which is the 4 hour candle where the Asian bear trap breakout occurred.
The only intimidating thing about this trade is the frightening thought of gong long after that huge bear day. But you can’t let emotional thinking get in the way, going long right now sounds counter intuitive but Forex is counter intuitive 90% of the time anyway lol.
Hello everyone,
USDCHF closed the week testing weekly S/R and getting rejected (check weekly chart to notice this better). PA is at major trendline, both D1 and W1. Getting to the Daily chart, friday closed with a good rejection candle, after testing the trendline, and price is at moment at swing point.
Also, for the ones of you beliving in Fibonacci, the rejection candle and swing level get confluence with the golden ratio :51:
Lot of stuff getting together, we could get a look for a entry on monday, despite weekly chart is showing a bullish engulfing bar…
Hey Vasude. I also looked up EU, althoguht on weekly you can see a bullish outisde bar and the way to the top is full of R… be careful with it 
Hey guys, hows the weekend going?
CryAgony I like that setup on the USDCHF, I will also be watching that one closely. I am not sure about the EURUSD setup, you would definitely want to wait for bullish confirmation via the break of the high of that bullish rejection candle.
Here is something I will be watching with a keen eye on the Silver market…
Another failed breakout, bears trying to push price below a Weekly support level and the market heavily rejecting it. All those bears trapped into a bad position and their stops getting hit as price roars upwards. Using this failed breakout + the bullish rejection candle as a trade signal. Will be watching the price action when the markets open, I love these type of bull/bear trap setups.
lot of resistance,managed to get around 90 pips,not a good trade idea…
Markets pretty quiet 
I dont like it due to the huge pin bar 3 days ago. Indicates there are a ton of buy orders at that level. I would actually expect that indecision bar to break upwards and it wouldn’t surprise me if we saw a trend change at least in the short to medium term.