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 adding tons of indicators on the charts that end up looking like an italian spaghetti food fight amongst 5 year olds. What is interesting is...
Read MoreIchimoku 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 likely scenarios and a third unlikely one. Scenario 1: The pair goes sideways into a consolidation or channel...
Read MoreThe Ichimoku Report Nov. 30th
EURUSD Bouncing off the weekly Tenkan and keeping true to the pattern to date, the pair has yet to close below the weekly Tenkan since April so anyone loking for a buy should target bounces off the Tenkan while taking profit at thte 1.5000 level as price has yet to actually close on any weekly basis above this level. However, if the Tenkan has its way, it will force the pair to do so, hence we...
Read MoreThe Ichimoku Report Nov. 22nd
EURUSD Showing an inability to have a weekly close above the 1.5000 barrier, the pair has had now 4 rejections on a weekly basis here. We feel this week or next is the decider for the next leg on this pair. A close above 1.5000 increases prospects for a year end push while a close below the weekly Tenkan (has not happened since April) would likely send the pair towards the 20ema just above...
Read MoreThe Ichimoku Report Nov. 16th
EURUSD Not quite trotting in place like a show pony but being rejected at the new highs while making mild gains on the week, the pair has yet to close above the big figure at 1.5000 which we feel is the first requirement for new buyers to come in. The 2nd requirement will be breaking a closing above the yearly highs at 1.5061. If these two events should occur, then we expect a run up to...
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