Trading AUDUSD,EURUSD,GBPUSD and EURJPY With The Use Of Price Action Strategies!

Hey guys,
I hope I can be of help to someone here, I will posting tutorial and trading set up with chart analyses to explain the reason behind the trading and to help new trader, intermediate and advanced trader in their trading career! Your success my joy! Questions are welcome as this will motivate me to do better!:cool:
 

jw1981

Junior member
25 2
My methods tell me to long aud as well, but its not a strong signal to make me enter the markets... Nzd on the other hand might make a come back... Your thoughts?
 

DuCaan

Active member
164 9
Formation of AB = CD pattern in Cable. Lets see if this support at 1.6550/30 holds?
 

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member275544

0 0
Formation of AB = CD pattern in Cable. Lets see if this support at 1.6550/30 holds?

you're looking for support, whereas others will have seen a double top and shorting at your point B
 

DuCaan

Active member
164 9
you're looking for support, whereas others will have seen a double top and shorting at your point B

That double top was already recognised. Indicated by the light blue/cyan colour shaded area, others might have thought it was going to make a new high.
 
M

member275544

0 0
That double top was already recognised. Indicated by the light blue/cyan colour shaded area, others might have thought it was going to make a new high.

undoubtedly, but then that's why we wait for confirmation. so like i say a double top which can only played out about now, as its past its lower high, or in your (harmonic) case you are looking for support to go long
 

DuCaan

Active member
164 9
The wide range bars indicating selling pressure prevents from going long unless there is a clear signal (3 bar reversal etc or some other price action signal from trading perspective). However, the price is sitting on the 61.8% retracement after touching it pretty much to the pip and also on a momentum basis it is sitting just on top of 89 EMA. Some bounce is likely, perhaps a retrace into the 34 EMA or 21 EMA. Ideally, if we have had the double top, would like to see some AB = CD pattern where price retraces and then go short. This is what Gartley wrote in his book, to go long a new bull market on an AB = CD pull back and vice versa. So different techniques to enter a position. I can see you sold the weakness, which is perfectly fine. kudos you are in the money :) Close below this 61.8% retracement of this swing below 1.6470 would be pretty bearish for the cable. If cable begins to close above structural resistance around 1.6600 and 1.6650, this might be an indication that it was just a retracement. Watching atm from sidelines.
 
Since this thread starts to be ACTIVE naturally, I gotta start posting with charts and explanation of reasons of picking trades from when the market opens today. Let's get started!!!
 
M

member275544

0 0
The wide range bars indicating selling pressure prevents from going long unless there is a clear signal (3 bar reversal etc or some other price action signal from trading perspective). However, the price is sitting on the 61.8% retracement after touching it pretty much to the pip and also on a momentum basis it is sitting just on top of 89 EMA. Some bounce is likely, perhaps a retrace into the 34 EMA or 21 EMA. Ideally, if we have had the double top, would like to see some AB = CD pattern where price retraces and then go short. This is what Gartley wrote in his book, to go long a new bull market on an AB = CD pull back and vice versa. So different techniques to enter a position. I can see you sold the weakness, which is perfectly fine. kudos you are in the money :) Close below this 61.8% retracement of this swing below 1.6470 would be pretty bearish for the cable. If cable begins to close above structural resistance around 1.6600 and 1.6650, this might be an indication that it was just a retracement. Watching atm from sidelines.

I'm not trading it, I was only pointing out the obvious double sided nature of trading different methods. you look to go long, whereas someone is looking at an alternative. I'm not having a dig or anything like that, it will be interesting to see how this pans out as you say
In all honesty, I've never tried Gartley and am a firm disbeliever of fibs. each to their own I guess. I like your site/analysis however(y)
Just as an outsider looking if you presented it more as a running story on your analysis it would help im sure anyone reading..
something along the lines of a link to your previous analysis..but thats just as an aside please don't take it as criticism
 

DuCaan

Active member
164 9
I'm not trading it, I was only pointing out the obvious double sided nature of trading different methods. you look to go long, whereas someone is looking at an alternative. I'm not having a dig or anything like that, it will be interesting to see how this pans out as you say
In all honesty, I've never tried Gartley and am a firm disbeliever of fibs. each to their own I guess. I like your site/analysis however(y)
Just as an outsider looking if you presented it more as a running story on your analysis it would help im sure anyone reading..
something along the lines of a link to your previous analysis..but thats just as an aside please don't take it as criticism

Malaguti - not taking it as a critcism at all. Feedback is always good, glad you pointed it out. Had started the blog to keep me active, as had injured myself and wasn't able to go out for some time.
Actually what ever works for one self in trading is what matters. Even if a simple trend line works for someone and makes them money, that's perfect. Not sure if Gartley had incorporated Fibs in his work. I can't remember the name of the person, who took his permission and then used his work with Fibs. Gartley did introduce the AB = CD in his book, which is nothing more than a 100% projection of a swing AB from another point usually a retracement. One thing I like about the Fibs is that it provides low risk entries, one might not need to risk a lot and patterns do fail as well.
Some analysis done for USDCAD. It has been uptrending since August 2011, watching the 1.1300 level with interest.

http://marketchartpattern.com/forex...stance-level-weekend-review-21-23-march-2014/
 
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