Nice one Vasude,
I don’t normally watch that markets, it’s a bit exotic for me lol. Have you got your order placed?
Nice one Vasude,
I don’t normally watch that markets, it’s a bit exotic for me lol. Have you got your order placed?
no dnb ,i place my order before one hour to london ,or after london starts, but now-a-days much irritating pair get break in asian session ,i become nervous to place orders
You could make an exception for the Yen pairs, because it’s only logical that it moves a lot during Asian time.
oh thanks for your advice… that too i place orders when all yen pair produced same signal ,
What do you think about the fact that we are heading into an all time low? (welcome DNB’s thoughts as well)
i think u saying economic recession or might u like to discuss some currency
Vasude pointed out a setup that is coerent with most yen pairs, especially with usdjpy
We have a good confluence area: 90.000 BRN+38.2 fibo+LCS
Despite all this confluence, I’d wait for a candle confirmation tho, given recent action on the pair and need to retrace it has: would be acceptable to see a break through this level till the TL…
See the charts below about it all:57:
oh! someone buy the yen ,this uptrend is getting exhausted or not? for euro bulls ,whether sky is the limit?
Hey guys. Subscribing to this thread.
Not yet time to short a yen cross for me. Tried 3 times and got punished for going against the raging bulls.
Hey PA Traders,
Looking over the charts for the last day of this trading week, we have identified a potential buying opportunity on the AUDCHF via a Price Action Signal, props to CryAgony for bringing this one to my attention.
The chart above clearly shows the larger range on the daily chart with price now testing the lower support level on the over all range. Last session an Indecision Candle signal formed at this important area on the chart which we can use as a trading signal.
The upper and lower wicks indicate that trading day experience consolidation or indecision at this key support, when price churns away like this at important areas on the chart it can indicate larger participants in the market are exiting/exchanging or opening new positions. The overall outcome of this indecision period is what we are interested in…
If price breaks out the top of the indecision, this could be used as a trigger to go long creating a high return trade. If you take a moment to have a look what price has done at this price level in the past you will see the market has generally been very responsive to this support and produced some clean bounces.
Interested to get your thoughts on the other perspective of levels that have reacted several times ‘recently’, some very good traders believe that if a support level has already been tested several times from the same side, then there are going to be less buying orders each time it goes back and so less chance of a big move…
Well that’s true, one boundary of the range has to give out eventually. That’s why it’s best to wait for a break of the high to confirm that bullish momentum.
Ok that makes sense, thanks!
hi
but still bears is in strong momentum,i look entry at breakout,pair at 50% fibo levels ,let see what happen in and around london and today nfp is tooo.
Hello everyone,
AUDCHF failed us, but it was worth a shot…
What I’m now looking at is the following GBPAUD Setup:
Clean and good confluenced Pinbar on H4, in sync with daily analysis, where price is now at mean value+swing point. Today price was rejected at that S/R, dropping a good wick on D1 and that clean pinbar on H4 which I took. I’m about to reduce my risk to half and hopefully to BE by the end of the day. I’ll also consider taking off partial profits
H4
D1
Have a great weekend
Hey Nice trades guys, I am jealous :D. Thanks a nice finish to the month Vasude!
I just wanted to write about an update on the AUDCHF situation, although the indecision trade did not trigger have a look what happened next…
We discussed the indecision candles presents at this location and painted a possible scenario for a bullish trade opportunity.
However, price did not break higher and trigger any trades but price did so something worth nothing on the close of last week’s trading. The market broke below the weekly support level triggering a wave of short trades to be triggered across the market which further pushed the price down.
This breakout was a classic bear trap move, trapping breakout, and trigger happy traders into a bad position. This type of breakout traps do generally occur around major S/R lines on the chart and that’s why we advise not to sell into heavy support or buy into strong resistance.
Now with the bears washed out, we can use this breakout trap to our advantage and be triggered long on any breaks higher to confirm the bullish authority. Breakout traps at strong areas on the chart can kick off longer term moves that last for weeks.
[I]Also just a reminder not to use my posts or anyone else’s post here as direct signals, if you trade what other price action traders or myself post here you do so at your own discretion. :)[/I]