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The markets continue to be fairly choppy and indecisive. Although we’ve seen some big moves this week, there doesn’t seem to be much follow through at the moment. I wanted to preface today’s analysis with this observation for two reasons. Keep this in mind when position sizing for a trade…scaling back might not be a bad […]Continue Reading
We’re finally starting to see some volatility trickle back into the market. Today saw several currency pairs make moves that at first glance may look opportunistic, but a more prudent strategy may be to wait it out. This is when focusing on raw price action can help separate a potentially great setup from one that might get you in […]Continue Reading
We finally saw some markets start to move today. Among them was GBPAUD putting in a 200 pip day. As I type this, price is hovering around the 1.8222 level which we’ve discussed before. The level has previously acted as resistance forming the bearish pin bar on May 2nd (highlighted in blue below). Since that time GBPAUD has made a […]Continue Reading
The market has been fairly indecisive lately, and today was no exception. With these market conditions, the best decision can often be to stay on the sidelines and wait for a clear signal. Although today was quiet, there were a few interesting moves today… The GBPUSD has struggled over the last two sessions to close above […]Continue Reading
As a follow up to the bullish pin bar on the daily chart last week, the EURUSD looks to have formed an inverse head and shoulders on the 4 hour chart. When combined with price action trading strategies, formations such as the inverse head and shoulders can add conviction to a probable outcome. The 1.3724 level looks to be […]Continue Reading