BEOB
Morning Technical Newsletter EUR/USDEUR/USD:
Let's check Eur/Usd the most tradable forex pair.
Weekly perspective:
Last week pair moves from the high 1.1815 to the low 1.1570 so in the range of 240 pips. At the and of the week we have formed BEOB candle as strong signals for more bearish trend for this week.
Daily perspective:
As we already said that we have BEOB on weekly chart we also have, BEOB on four days ago on the daily chart, so we have a really strong downside trend. For the next target, we can have a support at 1.1530 (60 pips).
Areas of consideration:
We can look for a short position on the first two resistance mentioned below:
Resistance 1: 1.1620
Resistance 2: 1.1650
For the targets we can use the first two supports mentioned below:
Support 1: 1.1570
Support 2: 1.1530
Today’s data points: German retail sales m/m; FOMC member Bostic speaks; US ISM manufacturing PMI.
FREE SIGNAL USDJPY H4 SETUP-NEW SIGNAL-
Type : Market Execution
Date : 11.10.2016
Time : 11:20 GMT+1
Technical : The USDJPY is on nice supply h4 zone with formed BEOB, we looking for a short setup.
Pair : USDJPY
Timeframe : H4
Trade setup : Short
Entry at : 103.900
Take profit 1 : 101.828 ( 210 pips )
Take profit 2 : 100.300 ( 360 pips )
Take profit 3 :
Stop loss : 104.500 ( 59 pips )
Risk reward :
TP1 – 1:3,5
TP2 – 1:6,1
TP3 -
Our risk :
- Deep retrace entry on a PA bar = 1.5% risk
Regards
GBPAUD DAILY BEOB -NEW SIGNAL-
Type : Pending Order
Date : 8.8.2016
Time : 23:40 GMT+1
Technical : Daily demand breakout with BEOB
Pair : GBPAUD
Timeframe : DAILY
Trade setup : SELL STOP
Entry at : 1.69701 ( 70 pips left )
Take profit 1 : 1.66841 ( 285 pips )
Take profit 2 :
Take profit 3 :
Stop loss : 1.72538 ( 283 pips )
Risk reward :
TP1 – 1:1
TP2 –
TP3 -
Our risk :
- Touch trades/Wick plays = .25-1% risk depending on the situation
DAILY BEOB NEW SIGNAL-
Type : Pending Order
Date : 22.7.2016
Time : 12:00 GMT+1
Technical : Daily BEOB at strong supply zone, with trend following
Pair : USDJPY
Timeframe : DAILY
Trade setup : SELL STOP
Entry at : 105.398
Take profit 1 : 100.00 ( 539 pips )
Take profit 2 : /
Take profit 3 : /
Stop loss : 107.891 ( 249 pips )
Reward risk :
TP1 – 2:1
TP2 – /
TP3 - /
Our risk :
-Full bar risk (ie entering near a break or having a full bar to work with - stop behind the bar) = 3% risk
XAU/USD - Trend line break down?Looking at the 4hr XAU/USD chart, I saw a nice bearish outside bar (BEOB) right at the longer term descending trend line. We had a small false breakout and a strong close below. To me, this indicates a move lower with the overall trend. I entered on a retrace to around the 50% Fibonacci retrace which is something I don't usually incorporate. I'm hoping we break through the lower band rising trend line and continue lower.
Confluence:
- Descending TL
- Fibonacci level
- BEOB
- Minor support/resistance @ 1215 level
PRICE ACTION / TREND FOLLOWING VOLUME #2PRICE ACTION TRADING.
STEP THREE
Find the forex reversal pattern.
STEP FOUR
Determined stop loss and entry point.
PRACTICE,PRACTICE,PRACTICE AND PRACTICE
SEE YOU AT NEXT VOLUME !!
BEOB ON RESISTANCE ZONE, ENTRY ON BREAK OF DAILY CANDLETechnical : BEOB ON RESISTANCE ZONE, ENTRY ON BREAK OF DAILY CANDLE
Pair: USDCAD
Timeframe : D1
Trade : SHORT
Entry now : 1.32144
Take profit 1 : 1.28376
Take profit 2 : OPEN
Take profit 3 : OPEN
Stop loss : At own risk
