In Trading Strategy Examples: Quick Charts

I'm winding things down for a quick break (and when I generally go “lights out” on this blog until tomorrow afternoon) and just wanted to show what I've been up to today. First off, I'm a fan of this new “minutes” section because I can just shoot out some quick ideas like this without worry, and hopefully you can find some new things here. I daytrade the euro a lot, as I have been for a long time now. I tend to pick away at it at smaller leverage to keep me moving. Below are just some key things I screened through this morning in its ~45 pip move.

Started the day when EUR/USD was trading at 3307 and just made a fresh low (refer to the chart for the rest)

1: Asian sovereigns noted as buyers ahead of the handle. I know that usually means things get messy, and hang out for a few.

Price touches lows repeatedly, over and over again. Finally, the first low got breached by the smallest amount, and bid again. There's your cue.

2. Triple tap after an aggressive move higher. I know I'm the only one that picked up on the first move so the drive was rather aggressive. My “feelings” said “this is going higher” but confirmation needed, which it did

3. on a break of short term resistance. Keep moving.

4. Our old friend “the bottom of the bucket” sees resistance. Looking for 1. move to into Asian highs, where demand/stops reported just beyond 2. move to  break the demand line.

Out for the day here. Hope this helps, if even a little bit.

EURUSD 1 Minute Chart Price Patterns

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Showing 3 comments
  • David Hodgson

    Thanks for sharing Steve – of course it helps 🙂

  • Paul S

    Thanks Steve. I’m really finding this stuff helpful along with FXEvolve JH approach. Day 2 of trading with PA. But had stop fraction too tight at no 4 short entry busted on 3rd touch to the resistance line of bottom of bucket. Then down. Hey ho. I’m learning….
    Great material.

  • Shervin D'Aguiar

    This breakdown of PA on shorter time frames is excellent.

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EURUSD Forex Technical Analysis Review