Correction In Eur/jpy Might have ended earlier than Expected

I watched the activity in Eur/jpy chart trade and watching that Intraday rally from the Bottom is very weak and Price once again holding higher prices strongly and I would like to see a test of 136.30 area again and then I would expected bigger rally would be on the cards once again on and Intraday Bulls will come In the market once again move the price higher.

We can once again see Value Migration to the upside, But depends a lot on that Price maintain the "Imbalance" in the market, and don't fall sharply and If it does we can see much more consolidation before next move higher or lower.

Candlesticks Patterns Continuation And Reversals

I was busy during the weak but I saw an opportunity to explain the Role of simple "Candlesticks patterns", and doing it by posting an example. In the above chart we seen that price has been in range and try to rise off demand areas and all the attempts are either faded out or either don't had any follow-through.

When we trade such scenarios we need to see overall relation of candlesticks with the context, As seen in the chart price has been bullish on the pattern breakout and then next candle almost completely engulf the prior breakout candle and opportunity was offered.

I would try to cover most of candlesticks patterns which offer continuation or reversals in the next post of my blog and other trading segments and aspects as well.

Price Action Without Candles

Hi traders! I am bit busy these days but still I always try to give my best to cover most aspects of trading and its style and During next week I will try and cover several aspects of trading as mentioned below.

*Momentum Trading

* No supply Imabalance

*Candlesticks Pattern traps.

*Context reading overall picture

*Trend confirmation after correctional bottom.

*Price Action in Balance Market conditions.

*Overbought and Oversold Market conditions.

*Roll Of Indicators.

*Breakouts and its types

I will try and cover each and every style with examples so next week its the best way to watch price action techniques which is really helpful in determining the versatility of a trader, and helpful aspects of trading.

Intraday scalping Opportunitiy

I try to make my blog posts as easy to understand as for me trading is more art than science and I never try to complicate things and If you have continously watch the updates, then It should have helped you enhance you trading knowledge and develop a lot of skills.

Scalping Need consciousness and easiest way around

When we saw strong trends tries to reverse and Had several attempts to back off from supply area and again tries to build momentum third time, then it is know as triple Initiative break and that type of breaks are clear form of "Imbalance", Where market went against the strong money and again driven back to areas where previous sell-off happened.

It is so important that we remain patience and look to go with trend unless we find this type of chart which tells you that infact a reversal is on the cards, And it happens with strong Initiative break which happens in this case of pound dollar chart.

Hints when Imabalnce is forming

Example of usd/jpy : Strong Imbalance

I have try my best to keep this blog updated on every clue of Where "Strong Institutional buyers" are eyeing to step in the market and absorbed the whatever supply there is and "Imbalance" is first clue of any such activity happening.

Even though we are in strong trends market and we saw some candlesticks patterns then it is not necessary it offers continuation of trend as for me candles at adverse market conditions are traps (most of them), unless you saw strong "rotation center" Violation and prior trend is strong to sideways for number of days.

So, pattern is the lower level in decision making process, the higher level is understanding context. We can't really evaluate our decision if we always operate from lower level of this process. It is only possible to evaluate it when we try and understand what patterns is offering and what prior market conditions is and overall context is also very important.