In this video we review the intra-day price action set-ups on the EURUSD 5 minute chart from the European session on 22 August 2013.
The session was volatile in nature due to several high impact financial data releases coming out of the Euro zone. However there were several high probability trading opportunities and a few higher risk propositions to consider.
During the video I discuss the purpose of price action, how we should be looking to structure the market for entry opportunities and how to recognise when price has gone too far for you to consider an entry.
No I haven’t ever really got into using volume analysis. I did stop by your thread briefly and looks interesting. Will have to give it some more time and get to really understand it.
From watching a few of your videos I think it would fit right into what you are doing, so it’s worth your time. Plus you should be able to pick it up more quickly with your experience. But hey, if you’re doing well you don’t need me to tell you anything…but take a look!
Here is a nice price action based set-up from Friday 23 August EURUSD 5 minute chart
Price has made a triple bottom and is making higher highs plus the moving averages have rolled up.
Price makes a 50% fib retracement of the last move up then forms a small rejection candle followed by a smallish candle with a higher high and higher low. The stall is also off the previous highs as seen earlier back and off the 50EMA.
Entry long with 5 pip stop, looking for 2:1 as trading with the short term trend.
This trade had price action combined with support and resistance, with the short term trend and momentum.
During this video I will take you through the price action set-ups from the EURJPY 5 minute chart. We also look at a comparison between the EURUSD and GBPUSD and highlight the contrast in price action and the benefit of looking at multiple currency pairs during a session so you can take advantage and focus you energy on the pairs that are moving with the most purpose.
Yo Arran/Aaron! Some nice videos here bro, enjoyed your analysis. I also trade price action on the 5 min charts so it’s interesting to see how you trade. Keep it coming mate!
