Big bullish pinbar candle on the daily timeframe. Off support area between 9788 and 9815. Several inside bars before today. Todays pinbar candle, broke below the mother candle then right back up. Trend is up. Moving averages are pointing up. 4hr chart shows the support area. Order to go Long as per below:
STOP: 9784
ENTRY: 9838
LIMIT: 10000
RISK/REWARD: 3/1
Trading Analysis based purely on Price Action as taught by Nial Fuller at www.learntotradethemarket.com. All I post here are setups which i see fit to trade win or lose.
Thursday, 25 August 2011
Sunday, 21 August 2011
NZD/USD Analysis
Bearish Pin bar candle on daily, off support. Also off 8ema and 8 and 21 ema are both pointing downwards. With trend. Order to open short as follows:
Stop: 8300
Entry: 8230
Limit: 8020
Risk/Reward: 3/1
Move stop to b.e when price reaches: 8160
Stop: 8300
Entry: 8230
Limit: 8020
Risk/Reward: 3/1
Move stop to b.e when price reaches: 8160
Thursday, 18 August 2011
AUD/JPY Analysis
False break out candle on the daily timeframe. Referred to as a "Fakey" by Nial Fuller on www.learntotradethemarket.com. With the trend, bounce off inbetween the 2 EMAs and a 50% retrace of the 1st Aug high. Entry is meant to be break off the mother, slightly late on this on by about 20pips
STOP: 8089
ENTRY: 7935.9
LIMIT: 7706.4
RISK/REWARD: 1.5/1
STOP: 8089
ENTRY: 7935.9
LIMIT: 7706.4
RISK/REWARD: 1.5/1
Monday, 15 August 2011
NZD/USD Analysis
Bearish pinbar candle on daily has formed off 8ema. It aint the best pinbar in the world but moving averages are sloping down, its off support and most importantly with the trend. There is also a big pinbar on the weekly timeframe which is bullish and is giving a conflicting signal. However, id expect 50% of that bar to be retraced before there is any bullish movement. Trade placed to go short as per below:
STOP: 8395
ENTRY: 8335.6
LIMIT: 8187.1
RISK/REWARD: 2.5/1
STOP: 8395
ENTRY: 8335.6
LIMIT: 8187.1
RISK/REWARD: 2.5/1
Wednesday, 10 August 2011
EUR/GBP Analysis
Nice bearish pinbar candle has formed on the daily timeframe. The support areas are pretty close so im looking for a good pullback to the 8845 support line before entering this trade. 4 hour chart below clearly shows 2 bounces off this area. Trend is down. A good pullback is required as the risk/reward would otherwise not work. Order to short placed as per below:
STOP: 8890
ENTRY: 8845
LIMIT: 8719
RISK\REWARD: 2/1
STOP: 8890
ENTRY: 8845
LIMIT: 8719
RISK\REWARD: 2/1
Thursday, 4 August 2011
AUD/JPY Analysis
The JPY pairs produced some nice looking pinbars on the daily timeframe. The aud/jpy pair has a big one and is now under previous resistance. there have also been 3 bounces off 21ema and the moving averages looks bearish and pointing down. Short order placed as per below
STOP: 8520
ENTRY: 8373 - roughly 50% retrace of the pin bar
LIMIT: 7932
the potential reward here is huge hence the bigger stop
RISK/REWARD 3/1
STOP: 8520
ENTRY: 8373 - roughly 50% retrace of the pin bar
LIMIT: 7932
the potential reward here is huge hence the bigger stop
RISK/REWARD 3/1
Tuesday, 2 August 2011
GBP/USD Analysis
Been a bit difficult to trade the major pairs recently with a lot of sideways action going on.
GBP USD seems to be ranging at the moment but ive spotted a potential pinbar setup on the daily timeframe
The pinbar comes off 16224 support which has held previously during April and June. trend is clear up, MA's are up. We had had a 50% retarce of the 18th July low and 38.2 retrace of the 12th July low. Trade to go long as per below:
STOP: 16217
ENTRY: 16275 (50% retrace of candle)
LIMIT: 16420
RISK/REWARD: 2.5/1
GBP USD seems to be ranging at the moment but ive spotted a potential pinbar setup on the daily timeframe
The pinbar comes off 16224 support which has held previously during April and June. trend is clear up, MA's are up. We had had a 50% retarce of the 18th July low and 38.2 retrace of the 12th July low. Trade to go long as per below:
STOP: 16217
ENTRY: 16275 (50% retrace of candle)
LIMIT: 16420
RISK/REWARD: 2.5/1
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