How are your trades going Libra? The Australian dollar has certainly be the main driver of a lot of these movements. The AUDUSD at the moment still hesitating to maintain prices below the weekly support level. image AUDNZD has been on an absolute ...

Simple, Powerful and Effective Price Action Trading Strategies

image A major price action event took place on the AUDUSD today during the Asia session. The market broke down below a major weekly support level that was acting as a major long term containment line for the Aussie. A quick check on the economic ...

Simple, Powerful and Effective Price Action Trading Strategies

image I missed the entry on this one by a few pips. The pin bar trade didn't fully retrace to the retracement entry point and the train left the station without me

Simple, Powerful and Effective Price Action Trading Strategies

image So, the first NFP release came out last week and sent shockwaves through the market as the job report was much worse than expected. The AUD and NZD certainly gained a lot of ground from the release and as a result a nice short price action ...

Simple, Powerful and Effective Price Action Trading Strategies

There was a nice breakout of the indecision candle on the AUDUSD as discussed in the last post, but a lot of it was faded during the last few hours of trading last week. I am still expecting more of a bullish follow through off this level, I've seen ...

Simple, Powerful and Effective Price Action Trading Strategies

Alright Charvo, you just came across very negative. I don't actually take many trades per week, I've been long on the GBPAUD for a month now and I've only just closed the trade today due to the GBPUSD and AUDUSD hitting weekly S/R levels and GBPAUD ...

Simple, Powerful and Effective Price Action Trading Strategies

Charvo, Well just for your information I didn't take this trade because the market gapped up on Monday removing the chance to take a retracement entry. Why didn't you post your concerns about the setup then? It seems like you wait for anything I ...

Simple, Powerful and Effective Price Action Trading Strategies

image Happy new year to all your traders, I hope 2013 was a year that you can reflect on, taught you lessons and helped evolve you as a trader ready to tackle the markets in 2014. One market I've been involved with, actually the only market I’ve ...

Simple, Powerful and Effective Price Action Trading Strategies

Just checking the charts around the London open time, which I often do to see what happened during the Asia session. I've noticed that the USDCHF has reached an important turning point. The weekly support level being tested is where the market ...

Simple, Powerful and Effective Price Action Trading Strategies

Yes it is, I only go in countertrend when the signals are strong and form at major weekly turning points. It's also good if the market is stretched right out from the mean so you add in the mean reversion affect as well. Otherwise I am generally ...

Simple, Powerful and Effective Price Action Trading Strategies

I never got in on the EURAUD trade because there was no retracement and the gap down threw out my approach to the trade, which is lucky because the setup didn't product a strong bearish follow through and how the range top is broken. Ill be watching ...

Simple, Powerful and Effective Price Action Trading Strategies

I am hoping there does not gap down in the market as I am targeting a retracement entry here to tighten up the stop loss spread and increase the reward ratio potential of the trade.

Simple, Powerful and Effective Price Action Trading Strategies

forextik, I think you're first chart is very messy and hard to read, it's way too 'busy' for me and it must confuse you at times. I am not sure what purpose a 2ema is going play in your trading system, also the 200 ema is just way to big of a number ...

Simple, Powerful and Effective Price Action Trading Strategies

It's just called inside bar indicator, you should be able to find it with a quick google search.

Simple, Powerful and Effective Price Action Trading Strategies

That was the idea, but the market closed above the level, even though there was a small tail it was not strong enough to signal a breakout trap. Today on the AUDCHF daily chart, a similar situation... image After a strong bearish rejection candle ...

Simple, Powerful and Effective Price Action Trading Strategies

We basically use the candlestick signals as the framework for our trades, so stop losses are generally placed at either the low, or the high of the candle because that full defines the risk of the setup. Reversal signals are where we generally take ...

Simple, Powerful and Effective Price Action Trading Strategies

Thanks Libra, I am glad you like our methodology. We're focusing on the USDCAD market for next week's trading... image At the close of trading this week there was a powerful price action event on the USDCAD major. The market tested the top of a ...

Simple, Powerful and Effective Price Action Trading Strategies

I just wanted to point out something interesting. A large breakout has occurred on the EURUSD market during the Asian trading hours. Large breakouts like this that happen during the Asian session generally don't work out, especially if none of the ...

Simple, Powerful and Effective Price Action Trading Strategies

image This week we've been starved of high quality signals as most markets have been hanging around in ‘unfavourable trade zones’. A lot of activity on the New Zealand dollar last session, a bearish rejection candle forming on the NZDUSD major at ...

Simple, Powerful and Effective Price Action Trading Strategies

The continued weakness in the australian dollar is driving the AUDCHF into further profits. Shame I missed out on this one. Not many signals floating aroudn at the moment on the charts, just hanging in there waiting for a lot of markets to test ...

Simple, Powerful and Effective Price Action Trading Strategies