Trading the Open and Close of the Candle
When trading price action or using price action triggers such as Pbars, Inside Bars, Shaved Bars, etc. it is important to always wait for the bar/candle to close more than anything else. Many people have challenges trading any system because the signals are forming in real time and not necessarily when the candle closes so you have moving elements to the candle, trigger and price action which are...
Read MoreTrading Price Action Wicks in the Forex Market
Wicks are an interesting phenomenon in price action formations and are virtually a part of every candle.Wicks can form on the top, bottom or both sides of a candle and represent the highs and lows of the price action for that candle on that time period. What is important to remember about learning to read price action and wicks is that the wicks themselves are ‘rejection’ areas where...
Read MoreWhat is an Inside Bar?
A somewhat common but important price action behavior, and Inside Bar is a candle that is completely inside the previous candles high and low.This is not just referring to the body, but the wicks as well being inside the previous candles price action.Why are inside bars important and how can they lead to trading opportunities? Before we answer the question above we have to look into the reasons...
Read MoreThe Ichimoku Report Dec. 14th
EURUSD As we had talked about last week, we expected the EURUSD to fall and the most likely target would be the 20ema. That is exactly what happened as it touched it and closed just above it. What now is in store for the pair. We definitely feel with the lower liquidity the ceiling for the pair is likely going to be the weekly tenkan. Movements are getting small and almost not even worth...
Read MoreLearning the Ichimoku Cloud
Introduction Still growing amongst the Western and European traders, the Ichimoku Cloud (or Ichimoku Kinko Hyo = One Glance Balance Cloud Chart) was originally developed pre-WWII by a man named Goichi Hosada. Because of the war, his research was halted and then later finished in 1968 whereby he published a 1,000 page, 4 volume body of work releasing the Ichimoku Cloud to the world under the...
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