Pin Bar is a great confirmation to short trade. Sell limit @ 88.70 breaks current support and moves below all 3 ma's. Watch as price comes to your TP levels. Use the 15 m chart to get best exit and re-entries. You can exit 1/2 positions and re-enter all the way down with this pair. 88.50, 88.30, 88.00. Exit all trades at 88.53. Use trailing SL. Place SL above the...
There is a double top as price has hit the top of the channel. At the double top on the 1H chart there is a very large body red candle that pulls price quickly away from the channel top (probably news). Day chart is over bought on macd and is red. Entry is on 30 m as price breaks that immediate support level @1.3040. As you approach each whole number use the 15 m...
This strategy started to move at 8 pm EDT opening of the JPY session. This is the easiest strategy to find a trade any time frame and any trading session. Asian session works best on the 15 m charts. USDJPY is the best pair if you are only going to trade one pair. We have many different strategies to learn on our blog and we are constantly coming out with new...
Thanks to "justshortcut" in the private chat room we have this H&S trade on the USDJPY 4H chart. You may have missed the entry at the break of the neck line @113.00. There is another possible 2nd entry . Go to a 30 m chart and draw an ascending trend line. Wait for a break of the trend line with a "Break - Hook - Go" for an entry (Break the trend line - Hook back...
I am waiting for this pair to continue down to the previous resistance level that is currently a support level. Then it will probably bounce long for leg D. I am using a 361.8 % fib level for my final TP level for now. I will be trading this pair on the 30 m chart looking for short pull backs. Then I will draw a descending trend line and trade a Break-Hook-Go as...
Pair bounce back into channel short. I am looking for a long pull back on a 15 m chart to enter this trade. Then I will take 1/2 of my position at the support level of 111.80. I will trail stop my position from there to the bottom of the channel.
This is great example of a Break Hook Go entry on price breaking a trend line. SL above the ma's. TP is a resistance level. This is also an entry on our Bill Williams Awesome Oscillator (AO) strategy. There is divergence in price with a higher high but the AO is diverging downward creating two twin peaks. You enter this trade when the first red bar of the AO is...
Watch for a 15 m pull back short to enter long on. Take profit at top of channel. Let pair pull back again, may go back as far as support level. Re-enter and take profit at top of channel again. We have many different strategies to learn on our blog and we are constantly coming out with new strategies for traders to learn every week. Visit us below on the website,...
Thanks to "justshortcut" from the private chat we have this H S trade on the 4H. You may have missed the 1st entry at the break of the neck line but there is a possible 2nd entry. Go to the 30 m chart and draw an ascending trend line where price is currently. Break of that trendline with a "Break-Hook_Go" (Break trend line, Hook back to trend line then Go) on a...
My currency strength indicator showed the N/J and N/U where both good short trades tonight. I cashed out with $16.25 on the N/J and $27.52 on the N/U. I used 1 mini for these $ amounts.If I had used 1 standard lot it would have been $162.50 and $275.20. Once you are confident to trade with Sup/Res levels or the Big 3 during the Asian session you can create a great...
3 long wicks together is an eye catcher. It helps you start thinking that the market may reverse. Look for other confirmations from resistance levels, ma's, macd and rsi crossover the 0 line. Easy to see and place stop loss. My TP in the US session is 20-30 pips. This trade ran 61 pips. We have many different strategies to learn on our blog and we are constantly...
This strategy usually trades the Euro/London pairs but the AUD and NZD move throughout the whole day. Any trend line break strategy should have an entry rule as the Break-Hook-Go. This happened between 9 am and 9:30 am EDT. As the market is trending from the London session it can continue that same trend during the opening of the US session. I like a set profit...
This is my favorite strategy. You will find a trade using this strategy any time any where. Watch upcoming news but for the opening of the US, Asian and London session this strategy is a sure fire "rob the stage" of the markets. Be patient, let the 2nd rule develop with a candle outside of the ma's. A pull back will naturally happen as the market moves. Then make...
Everyday you want to watch how the market reacts around 10 am EDT. There is usually an options release that may be being protected. Sometimes the market will do a pull back at that time range. Watch candle patterns, BB, Macd and RSI for possible direction. SL easy to see and place. TP can go to an approaching MA or a set 10 pips or greater. Yellow 20 sma had 28...
This news strategy lets the wind die down from the price reaction of the news. You have time to place your fib on the news candle and watch the retracement develop. Price has had time to pick a direction from the markets reaction to the news. Sometimes to catch the best price for the retracement you will be using a 1m or 5m chart. SL is easy to see and place. TP...
The Bollinger Band Bounce Strategy is an alternative strategy if you choose not to trade the news. This trade started to move when the US Stock market opened. It is easy to see when the price is touching or outside one of the bands. The RSI and my Macd both confirmed that price was over sold. Have a copy on the wall that shows you what are strong bearish and...
I tried this pair yesterday with the Bill Williams Awesome Indicator Strategy but my rule four (enter when AO crosses 0 line short and paints first red bar) kept me out of the trade. This saved me from getting into a trade when the pair wasn't ready to short and the timing was wrong. Today I see that a new reversal short trade is setting up again. On the 1 H chart...
This EU 4H Channel Trade has both short and long trade setups. The price action is in a range. Price will either break the bottom or top level of this range. If the pair breaks the lower range it will break the lower channel trend line then do a break, hook and go. (price breaks short bottom trend line, pulls back long to trend line and then continues short) Short...