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 [...]
The 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 [...]
Ichimoku 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 [...]
Ichimoku 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 [...]
Effective 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 [...]
Continue Reading "Effective Trailing Stops" Comments: Closed | Date Posted: March 10, 2010 - 3:49 PMIchimoku Report Mar. 8th
EURUSD – Are the Bulls Getting More Confident?
After 4 weeks trying to close below the weekly Kumo and 4 attempts to close below the 1.3500 big figure, are the bulls finally getting more confident they can hold the downside here? This is an intriguing question as the pair did make a slightly higher high than [...]
Ichimoku Report March 2nd
EURUSD – Stubborn as a Mule
To date, the pair has yet to close below the Kumo and has now posted 3 weeks of rejection from the 1.3500 level. There are obviously buyers willing to challenge the seriousness of this downmove and are staking claim here at the 1.3500 level. There has been several intraday probes [...]