EURUSD 4 Hour Price Action: Update on 4hour Hidden Fakey trade setup. August 2, 2013

 

 I just wanted to point out how we get in and out of trades using just price Action and not relying on any of those lagging indicators. 

We had gone short based on the initial Hidden Fakey trade Setup discussed earlier today but as the bearish move stalled, we spotted a potentially significant bullish signal. and with the NFP just around the corner, I made a call to the trade room to liquidate the trade at break even.

The chart above tries to explain the reason I had to liquidate the trade.

Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me.

NZDUSD 4hr Price Action: Hidden Fakey with Pin Trade Setup. August 2, 2013

 

 Most traders spend a lot of time feeling perplexed during the news but we really do not need be. Its still a matter of buying or selling isnt it? The Spike of news releases usually don't linger for more than 30minutes after which traders can go about their normal business of buying and selling, analyzing the charts again. Price Action technique allows you to do just that, since all you are concerned with are a few price  Action patterns.

The NZDUSD has given off a significant price action trade setup just after the news release and in line with the recent bearish trend, we have a Hidden Fakey with Pin Price action Setup. The trade room is short now on this pair as we aim for about 1:2 risk reward.

NZDJPY Price Action: 4 Hour Fakey Intraday Setup. July 10, 2013

 

 The Setup above looks like a decent Trade Setup on the 4hour TimeFrame of the NZDJPY. The Fakey Setup could trigger a selloff on the pair. The Trade room is short based on this setup as shown above.

Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me.