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  • Price Action Reading

    Pure Price Action Reading - Trading based on Technical Analysis which evolve from // S&R // S&D // Structure & Pattern // Price Proximity // Market Sentiment // Event Driven // Harmonic Moves.

    ***Risk Definition***
    The definition of risk capital is funds that are not necessary to the survival or well being of the user. I strongly recommends that a user, who is considering trading foreign exchange products understand this definition so that he/she may obtain a clear and accurate understanding of the risks inherent to fx trading.

    ***Risk Disclaimer***
    Any opinion, news, research, analyses, or other information provided by me should be interpreted as general market commentary, not as an investment advice. Opinions and analysis on potential expected market movements contained within this thread are not to be considered necessarily precise or timely, and due to the public nature of the Internet, I cannot at any time guarantee the accuracy of such information. Information provided on this thread is intended solely for informational purposes. I will not accept liability for any loss or damage, including but not limited to any loss of profit that may arise directly or indirectly from the use or reliance on such information. But if you will to share your profit, please don't hesitate for a moment & donate immediately

  • #2
    Silver Analysis

    Silver.jpg

    As per Elliot wave analysis price has completed 3-4 wave correction & now heading towards 5th wave. It is also noted that price has broken recent downtrend channel in h1 TF. Price is now supported by channel break price @ 19.45 handle. Till price is above this price my strong belief is price will head towards north. Ideally stops will run under this channel @ 19.24 handle. Analysis will be considered void only on break of 19.24 handle.

    My recommendation : Level to watch is 19.45 handle, above 19.45 is default buying opportunity & below it stay aside & take caution

    Last edited by alex4xes; 05-07-2014, 01:15 PM.

    Comment


    • #3
      Week ---> 12.05.14 to 16.05.14

      EurUsd

      EurUsd Plan A.jpg

      EurUsd is at interesting level at the moment. Price is supported by wedge at the end of last week. As far as price action is concerned, it seems like one more last swing to north can happen here if price decides to do so. There is no absolute clarity on what price will do here, I mean it can decide to break wedge from here & it can also rally again to test the supply zone from here. As far as my analysis & trading the analysis is considered, I m going to watch it closely in coming days...If price stalls at current level & if I see any price indication at smaller TF for longs I will happily trade it & if price breaks down the wedge then I will stay away for time being as I consider it will re-test the wedge at some point & I will be happy to sell at that time....

      Alternatively plan B - What I mean by retest of broken wedge.... in picture below
      EurUsd Plan B.jpg

      Comment


      • #4
        Week ---> 12.05.14 to 16.05.14

        UsdChf

        UsdChf D.jpg

        Highly correlated to EurUsd.... still why we need to look it is for reason so understand there is no un-towards things happening in market. If there is no sync between them then its better to wait for the cloud to get clear before we engage in any trading. Same logics go behind this instrument as mentioned in EurUsd. Take a look at both & see in which pair you can find risk defined entry & trade accordingly...

        Closer Look
        In h4 the bias can be defined by the falling TL, till price is below the TL there is no bulls....price above TL there is no bears....TL can be used here for risk defined entry. But to take short we need to see the price stall at TL, then we can assume TL is still holding & can trigger shorts.

        UsdChf h4.jpg
        Last edited by alex4xes; 05-12-2014, 06:23 AM.

        Comment


        • #5
          Week ---> 12.05.14 to 16.05.14

          GbpCad

          GbpCad.jpg

          Well, there is channel break recently & also H&S pattern formation at the top of the up trend. Break of neckline confirms the short. Till price is below TL, default position will be short.

          Comment


          • #6
            Week ---> 12.05.14 to 16.05.14

            EurAud

            EurAud.jpg

            Bat pattern completes @ previous double bottom from where price rallied 300+ pips. Current price level will be interesting to watch for bulls. 1.4655 price handle is key as break of this will accelerate the depreciation in value for this instrument. Current price is exactly at PRZ zone lying between 0.886% ret. (1.4700) & 1.618% ext. (1.4680). Sustained break below 1.4655 handle voids our trade idea.

            Comment


            • #7
              Originally posted by alex4xes View Post
              Silver Analysis

              [ATTACH=CONFIG]509[/ATTACH]

              As per Elliot wave analysis price has completed 3-4 wave correction & now heading towards 5th wave. It is also noted that price has broken recent downtrend channel in h1 TF. Price is now supported by channel break price @ 19.45 handle. Till price is above this price my strong belief is price will head towards north. Ideally stops will run under this channel @ 19.24 handle. Analysis will be considered void only on break of 19.24 handle.

              My recommendation : Level to watch is 19.45 handle, above 19.45 is default buying opportunity & below it stay aside & take caution

              Silver.jpg

              Ok... This price didn't played exactly as expected.... but notice how still the TL here pretty much holding the price.... I have still long bias till the price is broken well below TL. Price above TL is default long trade

              Comment


              • #8
                Week ---> 19.05.14 to 23.05.14

                EurCad - There is crab pattern observed in this pair in h4 TF.....Also price has bounce from horizontal support at D1 TF at 1.4800-1.4830 handle. Price is expected to re-test 1.5000-1.5030 handle

                EurCad.jpg

                Comment


                • #9
                  Week ---> 19.05.14 to 23.05.14

                  EurJpy - It has been observed that price is testing demand zone @ 138.80 handle, price compression pattern of wedge & also harmonic completion of AB=CD, all lined up together at same level gives hint of northern direction...Price may target the upper wall of channel.

                  EurJpy.jpg

                  Comment


                  • #10
                    Week ---> 19.05.14 to 23.05.14

                    GbpChf - Two harmonic price pattern found in same price level, which also happens to be big round number @ 1.5000, hence if the ground is ready for supply across board, then we will see price fall here.

                    GbpChf.jpg

                    Comment


                    • #11
                      Week ---> 19.05.14 to 23.05.14

                      NzdJpy - Price is current supported by demand level @ 87.15-50 handle, but however we observe currently flat bottom triangle pattern playing out which suggest more downside in play, however the key price to watch is 87.15 handle...price breaking downside of this level & stabilizing below it will lead more downside.

                      NzdJpy.jpg

                      Comment


                      • #12
                        Inter-week Opportunity

                        GbpNzd - Short
                        AB=CD
                        Stops @ 1.9685
                        Final Target @ 1.9490

                        Please manage it with your own discretion.

                        GbpNzd.jpg
                        Last edited by alex4xes; 05-20-2014, 03:03 PM.

                        Comment


                        • #13
                          Week ---> 26.05.14 to 30.05.14

                          EurGbp

                          Price is expected to react at the bottom of the channel between @ 0.8035 to 0.7970 levels. There is also possibility of price moving higher from current price, but however, entries from 0.8030 handle will reduce the risk exposure. Price below 0.7960-50 will invalidate this analysis.

                          EurGbp.jpg

                          Comment


                          • #14
                            Week ---> 26.05.14 to 30.05.14

                            GbpUsd

                            Price is nicely consolidating & forming bearish wedge on daily TF, there is wait & play scenario here. Only sells can be activated either price at top of the wedge or price break below wedge. Keep an eye on this pair, there is scalping opportunities inside this wedge for bulls from current price.

                            GbpUsd.jpg

                            Comment


                            • #15
                              Week ---> 26.05.14 to 30.05.14

                              AudChf

                              Price is consolidating, there will be trendy move once price breaks this consolidation.

                              AudChf.jpg

                              Comment

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