Ichimoku Report Mar. 29th
EURUSD – Downside Expected but not into the Close Seven out of the last eight weeks, the Euro has rejected the gains from the earlier portion of the week to bounce later in the week. This tendency suggests if you are wanting to short, to take profits going into last London session instead of waiting for it to play out. From an Ichimoku standpoint, the Tenkan is likely to limit upside...
Read MoreThe Breakout-Retest Trade
The Breakout-Retest Trade Here is a simple price action strategy anyone can trade on almost any time frame. Its based upon a simple price action formation called the Breakout-Retest formation. The key element involves price breaking a major high or low with a very impulsive move. The impulsive move suggests commitment from the institutions pushing price and the fact its occurring at a significant...
Read MoreIchimoku Report Mar. 22nd
EURUSD – Moment of Truth? After 4 weeks of probing the 1.3500 big figure, the pair rebounded two weeks ago with an impressive climb and its first since Jan. 8th of this year. And what did it follow it up with last week? An outside reversal bar to close a hair above the 1.3500 handle. With the force of last week combined with the several probes before, this week will probably be the...
Read MoreIchimoku Report Mar. 15th
EURUSD – Short term base in place After now 5 failed attempts to close below the weekly Kumo and 5 rejections with the last one forming a higher low, there appears to be a short term base in on the pair at 1.3500. To note the pair has yet to on a weekly and daily basis close below 1.3500 so there is some traders willing to make a stand here. With that said, we now have a clear line in...
Read MoreEffective Trailing Stops
Effective Trailing Stops One of the most common questions I get from traders is how to trail a trade. There are several solutions and one of them is to have two targets whereby the 1st one gets easily hit and then you move the stop to BE (breakeven) to reduce the risk. However, trades can often go for a run so there has to be a way to systematically measure and trail the position. One effective...
Read More
Comments