Intraday or swing trading opportunity could be here Chart to watch!!!

Intraday trading strategies is done with logic and planning and we have to sort out our weakness and the cause behind trading whether you are a scalper or swing trade

***When we see an opportunity to trade, We look to see the logic behind it whether it is an intraday or Swing Trading. The best point is that it should be very low risk opportunity and If that is with the trend then it should offer you another chance to enter with even tighter stops if the breakouts or stops are taken out by few pips.

*** I have posted above the eur/jpy chart and when you see this chart it is trading with repitative patterns, breakouts to the upside and strong rally to the downside and range and then breakout

***When we see pattern like this we think of pattern getting repeat itself again, but most of the cases it did the opposite, so I would suggest you watch the chart closely and see if you can find some "Logic" behind this trade, range breakout was to the upside and follow-through was very strong at the first attempt, but it could do the complete opposite even with strong momentum breakout and the only difference is that we have seen a new low this time, and two to three attempts have been faded out.

***So, Watch the chart properly and don't be in any rush to trade that opportunity as there should be logic behind your trading and you just want to trade good with the trend opportunities and one could be here very soon !

Overall picture of Price Action should be clear when looking for intraday Chart or long term chart

** Are there ways to know in advance what is the complete context in overall price action ?

**In this post I would like to put more light on what is "context" which tells you what market is trying to do whether it has liquidated before or trying to accumulate further for next push to test the high or Low .

** It is necessary for a forex or currency trader to look the overall picture for intraday trading as it will make thing easier to get a long term success. The Chart I have posted here tells you what you should be looking for.

**In the first attempt market trade location was lower low of correction which brought the spike and when it failed the market was in range for few hours and then immediate spike trap the new traders who think that "Candlestick Patterns" are best to trade patterns in any market.

** Market trap them and that is liquidation and see where market stops. Traders who have entered on pattern start recovering on next candle which was a large momentum bar with pattern and this suits best because market already was at new low and downtrend was confirmed.

** There are few examples I would like to post here today which tells you how important it is to know where the trade location situated and what are the reasons that you should enter a trade because market often gives you answers before making a next move otherwise there are no strong evidence that who is pushing the market in a range possible "Weak Holders".

Intraday trading and long term trading analysis have three phases

**As I told everybody earlier that trading has three phases Culmination, young trend and mature trend and Australian dollar might be a start of culmination process as background telling you that everything is clear for further gains..

** Perhaps it could be too early too speak, but only time will tell and If my assumption is true 0.9390 could protect every rally or you can enter after test and strong rejection candles with momentum could be right way to approach.

**Amongst all the majors Only OZ is the one pair which path is clear and fundamentals are also supporting.

* Would update the next analysis soon and everything is mentioned on the chart and you can ask if any question in your mind.

Price does gives you hints before reversing even is is strong Trend earlier

I do mentioned the reason few days ago that according to this chart, Price is about to reverse,because when we see enough reasons that liquidation does not have follow through which means Imbalance ( I have discussed it earlier on the blog) has disappeared and market has break the "floor".

Even when there was effort of buying with long wick candles, it stopped on next candle with very small effort and reattempt to continue was even stronger. This is the reason that newbie traders like to buy on pullbacks, with engulfing patterns which never arrives and they left stranded.

Check my Earlier Post Here !!!

Australian Dollar Is in Strong Demand Since last two days

This is considered as Strength in background !!!

As I have told you earlier when after a strong fall market tend to accumulate inside a bracket an start reacting to hot spot areas As I Mentioned in the Chart and when It react to intermediate where buyers and sellers have huge stop to dealt with, They probably decide to stay out and market lacking liquidation and value shifts higher to find the liquidation and finally accepting higher prices.

Then there was liquidation break at the top a strong pin bar, When background is as solid as this one, then we always consider entering at strong momentum areas and result was strong engulfing with strong rewards.

It could result in exhaustion but we have to wait and see if momentum fades then it could possible result in an mature trend, but its too early too speak. I will try and update the chart if there is any changes is seen, to keep you all updated.