All Blog Posts Tagged 'bars' (18)

Weekly Price Action Highlights | Nov. 18th - 23rd

EURUSD

Attempting to bottom and make some headway to the upside, the EURUSD failed to clear the 1.2800 role reversal level which was the Oct. swing lows. For now, the pair is stuck between 1.2800 weekly highs and 1.2659 lows which was the pin bar rejection on Tuesday.  So bears can look to sell any weak rallies up to 1.2800 while bulls can…

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Added by 2ndSkiesForex on November 18, 2012 at 10:01pm — No Comments

Silver Forms ii Pattern, More Downside? | Oct. 30th

Silver

Liquidity and volumes were definitely lower today with most pairs and instruments playing in a tight range today.  In the process, Silver has formed back to back inside bars, or an ii pattern, and this will not go on for much longer.

Although the precious metal is trying to form a base, it has yet to show any bullish legs,…

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Added by 2ndSkiesForex on October 30, 2012 at 9:50pm — No Comments

Weekly Price Action Highlights | Oct. 28th-Nov. 2nd

EURUSD

Staying put inside a channel/triangle, the Euro continues to oscillate virtually on a weekly basis since early Sept.  Since we are still midway through the triangle, I expect it to continue as we generally do not exit triangles till later on in the pattern.  That plus the elections in the US will likely keep things tamed down a bit for the next few weeks.



It should be noted the last 6 weeks of price action have all been …

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Added by 2ndSkiesForex on October 28, 2012 at 10:54pm — No Comments

Price Action Setup - Dow Consolidates with Overlapping Bars | Sept. 24th

Dow Index

Since the market got the green light from Bernanke and the QEinfinity policy, the Dow Index cleared past the yearly highs and went on a 350pt run in a few days.  However, in the last six, the has consolidated forming a series of overlapping bars between the 13653 and 13495 levels.  



Although i'm not sure how much longer this range will hold since we have had three touches on each end, as long as the …

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Added by 2ndSkiesForex on September 24, 2012 at 11:07pm — No Comments

Forex Price Action Setups - USD/CHF Head Fake Above .9600? May 29th

USD/CHF - Head Fake Above .9600?



The Swissie today formed its first daily close above the .9600 level which is the first time in over 14 months it has done this.  The question is, is this a false break or head fake?  Although it closed above the key level by 3pips, it has formed a rejection of the lows and the highs forming a trading range.  As you can see from the chart below, price has thus opened inside the wick or rejection area of the prior…

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Added by 2ndSkiesForex on May 29, 2012 at 11:02pm — 1 Comment

Forex Price Action Setups (Spain, Greece & the Horror with No End) May 28th

Spain, Greece and the Horror with No End...For Now



Although markets were calm today from the US Memorial Holiday, Spain today asked the EU to act in providing support for fiscally frail gov'ts (read 'Spain is begging for help') as its fiscal gaps and banking system (but, but...Bankia is fully solvent you said) are getting pummeled with soaring yields which are punishing the rates on bonds.  Again, Spain is 4x larger than Greece so if Spain…

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Added by 2ndSkiesForex on May 28, 2012 at 11:18pm — 4 Comments

Forex Price Action Setups - China Slowing, Fear & Loathing in Europe - May 24th

China Slowing Down, Fear & Loathing in Europe



Prior to the London open, the China HSBC Flash Manufacturing came out worse than expectated, alarming investors globally since the motherland slowing down is a big concern as the weakening output affects all.  This initially sent the AUD and NZD lower but both recovered shortly after to hold modest gains throughout the day.

 

The situation did not get any better with German manufacturing also…

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Added by 2ndSkiesForex on May 24, 2012 at 11:00pm — No Comments

Forex Price Action Setups - Euro Hits Near 2-YR Low, Grexit Fears Persist May 23rd

Euro Hits Near 2-Yr Low, Grexit Fears Persist



The Euro got hammered in NY trading dropping 120+pips in about 3 hours as the EU summit didn't really calm any fears of an eventual Grexit from the EZ.  Of course EZ officials telling members of the currency bloc to prepare contingency plans for an exit are not helping. 



Oh yeah, did we forget to mention European banks have the highest loan-to-deposit ratio in the world (3x that of the US banks)?…

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Added by 2ndSkiesForex on May 24, 2012 at 12:11am — 2 Comments

Choose the Webinar 2ndSkiesForex.com

In conjunction with FXStreet, I am doing a webinar whereby you get to choose the topic!



Just go to the facebook page for the webinar here;

Chris Capre FXStreet.com Facebook Webinar Choose the Topic



Choose from any subject related to trading so make sure to cast your vote.



You have from May 28th to vote so make sure to do it soon.



The webinar will be on Thursday June 7th…

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Added by 2ndSkiesForex on May 21, 2012 at 2:58pm — No Comments

Do You Have the Willpower to Trade Successfully?

I am going to start this article with a question which could signify a major portion of your current level of success or failure in trading.

 

The question is;



Do you believe willpower (and specifically - your willpower) is a limited resource, and if so, what do you think it limits you to learn, achieve and accomplish?  

 

A follow up question to this is:



If you work on a difficult task,…

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Added by 2ndSkiesForex on May 14, 2012 at 9:07pm — 3 Comments

Price Action Forex Trading - Exhaustion & Climax Reversal Bars; 2ndSkiesForex.com

In one of my most recent webinars on price action forex trading, I talked about a key method for detecting when a trend is over-extended, which is to look for a climax or exhaustion reversal bar.  I had mentioned how from an order flow perspective why these exhaustion and climax bars tend to represent a high probability reversal coming based on the various…

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Added by 2ndSkiesForex on May 7, 2012 at 9:07pm — 6 Comments

A Question to All Traders

I have been working on a thought experiment for traders here that I will be doing a webinar on in about a month, but before that, wanted to ask all of you traders a question which I think will produce some interesting answers.

 

The question is the following;

 

What would you feel like if you were a highly successful trader?

 …

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Added by 2ndSkiesForex on May 4, 2012 at 2:40pm — 12 Comments

5 Mantras For the Developing Forex Trader

Lately I have been spending a lot of time crunching data on some of the forex price action algorithms my programmer and I created, that the data can at times become overwhelming to digest.  In times like these, in needing a break, I often enjoy reading something completely unrelated to forex so I can engage other aspects of my brain.  Recently, the subject…

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Added by 2ndSkiesForex on May 1, 2012 at 12:29am — 3 Comments

Forex Price Action - Engulfing Bars, Order Flow and Optimal Entries

One of the more popular price action forex reversal patterns people trade today is the engulfing bar reversal pattern which is one of many two bar reversal patterns or AB reversal patterns (AB as in it has an A bar and B bar as part of the pattern) available.  Although this is a commonly traded pattern, many traders fail to find the best entry or are able to gauge a proper target using any…

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Added by 2ndSkiesForex on April 23, 2012 at 4:25pm — 11 Comments

Price Action Trades - 2ndSkiesForex.com Intraday Price Action Trading

Here is a collection of some of my students recent price action trades across EUR/USD, GBP/USD, Gold, AUD/USD, etc.  



All of these are trade setups from students in my price action course whom have been really turning it up lately finding some great setups.



The top winners of these are some nice 4 and 5+:1 R:R plays so congrats to all my students!



#1 Riga P.…

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Added by 2ndSkiesForex on April 16, 2012 at 3:05pm — 6 Comments

Mindset of A Successful Trader

I was talking with one of my price action forex students today who in some sense, has a very typical story - they tried everything, from forex robots, signal services, listening to expert trade advice, reading all kinds of books, etc. but no matter what they did, they still were consistently losing.  They are definitely dedicated and sincerely want to learn to trade the forex market successfully so it…

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Added by 2ndSkiesForex on April 4, 2012 at 12:04am — 11 Comments

7 Signs You Know Your Maturing As A Trader

Often times, we measure our success as a trader by our account value, whether it has grown, perhaps doubled in size, or whether we have lost and are under water.  Unfortunately, this is really a myopic way of measuring our success in trading.  If this was the true benchmark, then for my first 6 mos of trading, I must have been a rock star turning 3k into 83k.  How did I do it? Over-leveraging to the hilt and having the most unbridled approach to the markets.  If you measured success by my…

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Added by 2ndSkiesForex on March 27, 2012 at 12:09am — 22 Comments

Forex Trading Insights - Wait For Your Price

Last week I was busy traveling on business so missed it but am back now for my weekly forex trading insights.



 

Yesterday on my facebook page, I wrote about a short term bottoming formation in the NZDUSD as it was approaching a key support level.  The traders in my price action course also noticed this setup and were looking for an entry as well.  Below is the chart around the time I…

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Added by 2ndSkiesForex on March 23, 2012 at 4:14pm — 9 Comments

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