Price action swing trading

[pipnailer]

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…

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…

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…

[pipnailer]

Good day guys…
Coming up on our radar this week are GbpCad, GbpAud…

I posted full analysis here …ANALYSIS | Pipnailer Forex Traders Academy

[pipnailer]

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…

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…

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)…

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

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…

[pipnailer]

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.
.

[pipnailer]

GU dipped has expected to 50% retracement of the triangle breakout wave

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…

[pipnailer]

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…

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.

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…

[pipnailer]

On my radar this week is EurUsd…and i’m keeping this analysis as simple as possible

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.

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

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

[DrVanNostrand]

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

[DrVanNostrand]

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!

[Phohu]

Great read, thank you!
Having trouble viewing the “DRAWING TREND LINES 2” document. Please help

[pipnailer]

Good day traders…its been over 3 years now and getting more interesting…
Want to make this forum come back to live…
Price Action Swing Trading is still the bombs anytime any day…So, watch out here as i show how i nail the pips…Know why I’m called PIPNAILER…

[pipnailer]

So, our first trade to revive this thread is the CHFJPY…
We’ll be looking to SELL this pair if price moves as indicated in the chart…
Welcome back. Lets make pips together

[OrlandoS]

Thanks. Seems it useful.

[pipnailer]

Forex Traders Academy, [13.07.20 10:50]
CHFJPY…mid term bearish
On the monthly time frame (TF), we see price bounce off a Market Station (Support/Resistance Area that price respects a lot)…
See the downwards red arrows showing where this area was a strong support area… 1998, 2007, 2011
Price broke the resistance, travelled above it, then retraced to test the area…and again price respected this area and bounced off it, thus becoming a support area…2016
This makes the area a resistance turned support area…and a very strong one at that (Price has not disrespected that area…not even for once…

Also note that price is in the distributive phase of trend for now… the norm is for price to go bearish after a distributive phase of trend…but timing is key (we could have an expansion which is more of a fake breakout upwards before the expected bearish trend begins). TIMING IS KEY

Forex Traders Academy, [13.07.20 10:54]
Also note that price is in the distributive phase of trend for now… the norm is for price to go bearish after a distributive phase of trend…but timing is key (we could have an expansion which is more of a fake breakout upwards before the expected bearish trend begins)…TIMING is key

On the weekly tf, we see price hit a very strong Resistance…Like the Support level on monthly tf, this weekly resistance is also a very strong resistance level that price has always respected…
This gives more credence to our mid term BEARISH bias for this pair

Forex Traders Academy, [13.07.20 10:54]
Also note that price is in the distributive phase of trend for now… the norm is for price to go bearish after a distributive phase of trend…but timing is key (we could have an expansion which is more of a fake breakout upwards before the expected bearish trend begins)…TIMING is key

Forex Traders Academy, [13.07.20 11:06]
On the weekly tf, we see price hit a very strong Resistance…Like the Support level on monthly tf, this weekly resistance is also a very strong resistance level that price has always respected…
This gives more credence to our mid term BEARISH bias for this pair

We move to the 4hr tf to look for possible bearish entry…
As seen in the chart above, 4hr already is giving us signs of bearish move:
i. Bounce off Resistance
ii. took out the previous Higher Low (HL) to form a Lower Low(LL) thus giving us an emerging bearish trend.
iii. Price presently retraced to the CITO point and was rejected…see the bearish pin bar just before the last candle …

Our expected area of entry is the marked yellow box…
If the pin bar rejection had happened at that area, we would have taken a SELL…but e expect price to still go a bit higher to our marked entry zone so we could have a better entry with lesser draw down…
Our aggressive students would have gone short by now…(just in case price never makes it to the marked entry area)…with stop loss above resistance

We’ll keep watching this pair…it is on our high probabilty list

[Tombanton]

I would go short as of now just in case the price never reaches the highlighted area,adding a stop-loss above the resistance. Also we suggest you keep tracking the pair.

[donfiddley]

Price action for swing traders is the art of looking at individual candles to determine the probable direction of a stock - without using any technical indicators. Once you can determine this, you can pinpoint reversals in stock and make money.