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Priceactiontrading

Big Move incoming on USDJPY Huge volume spike on levels not seen for since May 2022 Could this pair be loosing steam and a potential move to the downside lurking?? Price in an ascending channel RSI exaggerated divergence snapshot The recent price action was very similar to the BOJ intervention 22/09/2022, Using factual theory's we could see price bounce from this area but unable to capture new highs creating a Quasimodo pattern - if true then the entry will be on the break of 146s. The downward factual pattern was taken from 14/07/2022-02/08/2022
Short
by LuxTradeVenture
USDCHF: 2 Scenarios Explained 🇺🇸🇨🇭 Update for USDCHF. The price is currently approaching a key daily structure resistance. Depending on the reaction of the price to that, I see 2 potential scenarios: If the price breaks and closes above the underlined blue zone on a daily, a bullish continuation will be expected to 1.02 Analyzing intraday time frames, I spotted a triple top formation on 1H time frame. 1.0036 - 1.004 is its neckline. If the price breaks and closes below that, I will short the pair. Targets will be 0.9985 / 0.9935 Wait for a breakout, then follow the market. What do you expect? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
8
CHFJPY Buy/Long1: Trendline Breakout 2: Symmetrical Triangle Pattern Breakout When looking at the larger time frames, we can see that CHFJPY is bullish . We have also seen the market pull back which signalled a chance to enter in the direction of the bigger picture trend. We have listed 2 reasons as to why we will be looking to buy the pair. The trendline breakout on the daily chart signals shows the pair might have gained interest of buyers. The symmetrical triangle pattern breakout further adds to our narrative of a continuation to the upside.
Long
by NDOBObanks
1
EURGBP: Trading Plan For Today 🇪🇺🇬🇧 EURGBP is approaching a key daily structure support. To catch a pullback from that, watch an inverted head & shoulders pattern on 1H time frame. 0.865 - 0.867 is its neckline. Wait for a bullish breakout of that (1H candle close above), then buy aggressively or on a retest. Goals will be 0.872 / 0.8755 If the price sets a new lower low, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
If It Looks and Acts like a Chicken, It's Probably a ChickenA foundational concept in "pure" price action trading that underlies all trading decisions is that price will never "exactly" repeat itself. What I mean by exactly is that current and future price will never be 100% identical to past price. At first glance it may seem the same, but when boiled down to the lower time frames, you'll notice that current price is ever so slightly, different from past price. This makes more sense from a philisophical point of view. If the markets are a living breathing entity just like you and I, it makes sense that past price will never repeat itself to the perfect degree. Similiar to the way you and I, as humans, will never be identical in terms of actions, thoughts and biological makeup when compared to past versions of ourselves. Now, if the price action trader views the markets in this way, it can make a non-price action trader confused as to how a price action trader can profit from a chaotic entity such as the market. Afterall, a price action trader solely uses price to analyze the future direction of price. Let me explain to you how. We all know the phrase, "If it looks and acts like a Chicken, it's probably a Chicken". Meaning that if the characteristics of a chicken are there, well.... it's probably a chicken. Infering that 100% confirmation that a chicken is in fact, a chicken, is not nessecary for a chicken to qualify as a chicken. It's the same in price action trading. If your price analysis dictates that price will go up, even though there are some pieces of the puzzle missing in your analysis, your analysis qualifies as legitimate analysis. Now don't get me wrong. Just because your analysis qualifies as legitimate analysis doesn't mean price will follow in suit. That's an entirely different subject. The point I'm trying to get across in this post is simple. Price Action analysis cannot be so rigorous that you must wait for a 100% replication of past price. Simply for the reason that past price will "never" identically repeat itself. This pitfall of waiting for perfect replications of past price leads to the trader becoming overly conservative. Causing you to miss out on trades that had sufficient analysis, but was missed out on due to the "misunderstanding" that past price repeats itself. So the next time your analysis states that price should go up; don't let the inevitable nature of markets to never repeat itself stop you from entering that trade. Remember! If it looks and acts like a chicken, it's probably a chicken. I hope this helps! Have a great day! Ken
Education
by TradingForexPriceAction
5
NIFTY 50, SHORT TERM PRICE ACTION!!"movement of prices, falling some strategy or a pattern(formed by psychology of buyers and sellers), makes up the price action"!! i had previously brought up the trend of market, and market is yet respecting towards. as previously said: INDIA is not in a recession. therefore nifty 50 is most unlikely to go below the support of 16700. trend line is drawn, and check out the fibonnaci drawn from past two trading weeks, market has been respecting its levels very well. its acting like a good support and resistance. more updates will come on the same topic, stay connected!!!
NSE:NIFTYLong
by raghavchoudhary2016
Dow Jones Industrial not looking goodDJI = Dow Jones Industrial is not looking good. 200MA, 200EMA (which has worked as support before) and key level ~29 700 was tested and turned to resistance like it is seen on the graph. Next target ~26 800 and if that gets broken ~23 000. IF history repeats itself, then we might go test the 18 200 levels which happened last time 200MA turned to resistance ( 2008 ) This analysis is invalid if we break ~29 700-30 000 and get on top of the EMAs When Fed pivots and start to print money again the markets will turn, and the markets are probably going to sniff that before it actually happens. I think it's sooner than we expect. -Jebu
TVC:DJIShort
by PalenTrade
3
GBPAUD: Your Trading Plan 🇬🇧🇦🇺 GBPAUD is trading on a key daily structure support. To catch a bullish continuation from that, watch an inverted head and shoulders pattern on 1H time frame. 1.744 - 1.7465 is its neckline. To buy with a confirmation, wait for its bullish breakout (hourly candle close above that), then buy aggressively or on a retest. Targets will be 1.755 / 1.7626 If the price sets a new low, the setup will become invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
4
$EURUSD | Some Relief Upcoming?For EURUSD, it's been nothing but a continuous downfall along with the GBPUSD but with a big "green candle" breaking lower Bollinger Band as well as the RSI levels being at extreme over sold levels, could this be pointing toward a reversal potentially? I think some selling relief is to come for the short term for the EURO and we may be looking at slight uptick before the prior resistance zone at the least. Trade took and considered the "big green candle" my confirmation based on size and wick and also because it historically has bounced off of the lower bands standard deviation. Placed Stop Loss below Entry candle and Take Profit right before the prior resistance zone.
Long
by CryptoHotep
2
EURCHF Sell List of confluences: 1: Rising Wedge Breakout 2: Trendline Breakout 3:Key Level Breakout and Change in Market Structure When looking at the larger time frames, we can see that EURCHF remains in a strong down trend. We have also seen the market pull back which signalled a chance to enter in the direction of the bigger picture trend. We have listed 3 reasons as to why we will be looking to short/ sell the pair. We are expecting a potential return of between 6.35% to 12.7% at 1 - 2 % risk per trade.
Short
by NDOBObanks
2
$XRPUSD | The Ride May Be Over.....For NowXRPUSD had a nice run up most recently, but with its break of the upper Bollinger Band along with over bought status at extreme levels, reminiscing February 2022, we may be looking to revert course. Currently under the 200 EMA as well and rejected off of the major resistance zone, I think a safe landing would be next major level of support for the time being. I waited until the confirmation candles following the Doji at the top to take this trade and am learning to be even more patient with my daily charts.
BITSTAMP:XRPUSDShort
by CryptoHotep
1