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 [...]
Continue Reading "Trading the Open and Close of the Candle" Comments (2) | Date Posted: December 20, 2009 - 2:46 AMTrading 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 [...]
What 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 [...]
Continue Reading "What is an Inside Bar?" Comments: Closed | Date Posted: December 14, 2009 - 11:05 PMThe 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 [...]
Learning 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 [...]
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 [...]
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 [...]
What is Price Action and why we should learn it?
As forex traders, we have the challenging task of trading to make profit from the price moves in the market. This entails finding the where (price), when (timing), and the direction (trend). Most traders end up searching the savannah of trading systems which often have tons of indicators on the charts [...]
Continue Reading "What is Price Action and why we should learn it?"As forex traders, we have the challenging task of trading to make profit from the price moves in the market. This entails finding the where (price), when (timing), and the direction (trend). Most traders end up searching the savannah of trading systems which often have tons of indicators on the charts [...]
Continue Reading "What is Price Action and why we should learn it?"As forex traders, we have the challenging task of trading to make profit from the price moves in the market. This entails finding the where (price), when (timing), and the direction (trend). Most traders end up searching the savannah of trading systems which often have tons of indicators on the charts [...]
Continue Reading "What is Price Action and why we should learn it?" Comments: Closed | Date Posted: December 9, 2009 - 10:08 AMIchimoku Report Dec. 8th
EURUSD
Finally breaking stride, the EURUSD has done something it has not been able to do for the last 7 months…have a weekly close below the Tenkan line. This line has held on dips and been quite a play in terms of getting into this trend. With the line being broken, there are two [...]