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AUDUSD 1H PTICE ACTION PIN BAR STRATEGYStep 1: Find a Pin Bar On Your Chart *Note This is a stock price action strategy, and a forex price action strategy. I will use a currency pair as the example. Price action charts are with any market and timeframe. What you need to do first is identify a pin bar that has formed. Step 2: Look for Past Price Action to Determine Why The Pin Bar Formed. Why did the reversal suddenly hit a price and then continue back to the upside? Let’s zoom out a bit on this one hour chart and see if we can see anything that tells you what happened. Note** you can either look at the current time frame you are on( in this case 1-hour time period) or bump up one or two periods to gather information. This is what Price Action is all about. No two trades will be the same. However, we can take what we have learned from the past and make the best judgment as to where the price may be headed in the future. You are essentially like a detective when you trade price action. The point is to gather many pieces of evidence to back up your conclusion. You are trading with confluence. Sometimes simple is best. Study the charts and form an educated conclusion as to what happened and where the price will go. Step 3: Trade entry You just enter the trade 2-3 pips from the break of the nose of the pin bar. Step 4: Stop loss Place the stop loss 3-5 pips away from the wick. The end of the wick will be a support area. So if this is broken the trend may continue downward. Which is why you place your stop 3-5 pips away from this. Step 5: Exit Strategy Your exit strategy will be when you hit the first level of support or resistance on your chart. Price will hit a point and stall out. Once we see the price action stalling out, we exit the trade immediately.
Short
by Tradingstrategyguides
2
Morning Technical Newsletter EUR/USDEUR/USD: We are still looking for potential intraday target at 1.1430 ( 110 pips target ).  Areas of consideration: A fakeout of the current H4 supply zone to bring in sellers from September’s opening level at 1.1595/round number 1.16 is a possibility today (yellow zone represents a fakeout area). A short from 1.1600s would place one against possible daily buying out of 1.1479-1.1583, though in-line with weekly flow. Given this conflicting view, waiting for a H4 bearish candlestick formation to emerge off 1.16 is recommended before pulling the trigger. For those who prefer to trade without candlestick confirmation, a safe stop-loss position, according to technical structure, is likely beyond the October 1st high at 1.1624. In the event a trade from 1.16 comes to fruition, the ultimate downside target falls in around 1.1445: the top edge of the weekly demand. Interim downside targets, nevertheless, can be seen at the top edge of H4 supply: 1.1580, followed by the minor H4 Quasimodo support at 1.1505/1.15. Today’s data points: German banks closed in observance of German Unity Day; US ADP non-farm employment change; US ISM non-manufacturing PMI; FOMC members Barkin, Brainard and Mester, along with Fed Chair Powell also take to the stage.
Short
by GroundStoneHoldings
Strength building on BitShares BTS. BullFilter shows a Long.Analysis: Correction ended mid August and accumulation has been going on since. The amount of selling in the 1500-1600 range represented capitulation of weak hands. BullFilter showed a bullish divergence from Late August until Sept 12, when the price action finally caught up. With some nice recent spikes in volume some upward price movement is expected in the next 2 weeks. Entry: Enter between 1700 and 1750 upon the completion of this downward wave. Now that we know we want an entry in this range, we will use BottomFinder here to select us a great entry point (Example below) Take Profit: The dashed red lines represent target take profit levels. We suggest cashing out 10% at T1, 35% T2, 40-50% T3, 5-15% T4. StopLoss: SL set to 1600 to avoid the liquidity pool from 1650-1700 and being stop hunted. 1700 is also currently acting as local support. Upon completion of T1 move stop loss to entry point to secure a risk free trade. Additionally continue moving stop loss up by one target each time a new target it reached. i.e. when T2 is reached, move stoploss to T1 level. This way you can ride out dips with no anxiety and automatically exit the trade in profit should you not be around to monitor!
BLong
by theheirophant
7