Australian dollar trading Retails sales & Trade Balance Data

Australian banks is due to release Retail sales & Trade balance data on 6th February and recently there would be surely a setback on retail sales amid global slowdown and conditions in China (Australia's biggest trading partner)

IF there is a shortfall of trade balance, then there would be sales effecting it, specially automobile sector due to global slowdown . I would surely keep an eye on high price approach to 0.6800, strong resistance and psychological barrier.

Trade plan should be wait for the retest of 0.6800 & short it there & then look to set stops around 0.6825 and target 0.6730 as your first target and trail your entry for second target 0.6680.

How to trade Double Marbozu in Forex. Rush Through Crucial Supply and demand levels.

I have just exit my crude shorts around 53.50 levels & what a journey it was. Those who did not check my earlier post on how I manage to pick top of Crude oil, please Check the post here. Crude Oil Reversal

In this Article, I would point out few important patterns in Candlesticks against the trend, that giveaway to complete or short term reversals. Usually, they are trapped levels to trapped traders in opposite. directions and when they occurs or revisit, there are definitely rejection for short term or even on long term. You need to real the top down analysis i.e Chart from pattern occurence to the the lowest level which show some hints of price getting compressed or retesting with Fakeouts.

Why every Candlesticks pattern is used to trap market

This probably would be a hardest of statement to digest. Every Candlesticks patterns does not work, but yes, Reversal patterns are more likely to rely on but not immediately after they occur. But after the occurence & When and how much price reverses after the pattern occurs.

*Also Read :- How I manage to pick the exact top in WTI Crude oil

Strong follow throughs after pattern occured, are the one to mark & this is the first thing you need to note down, when planning any trade opportunity. Then you should mark the level with nearest support or resistance which give away to strongest rise or even decline. That is the reason why I don't bother testing charts every day in and out, but rely on pattern occur & they watch out the price action next following days.

Silver Future is a good hint of pattern occurence & reversal and retest failure

Crude Oil future. final buyer Exhaustion

Hi, Readers

First of all, I would like to give you advance wishes for New year & wish that new year fullfill all the dreams you ever wished.

Usually, I don't trade in low liquidation scenarios amid New year & Christmas holidays. But I always Like to take a look at Crude oil chart usually once a day. Today, I found classic example of Crude oil future which states the buyer's exhaustion & finally engulfed and start of a cycle of seller domination.

I would recommend shorting Crude Oil around 61.95 level with short just above the QM zone which is 62.07 & target is the low of session which is around 61.09 & then 60.63

Gbp/cad testing 1.7210 level

I'll discuss the chart bit later ! Hope you all have prosperous new year filled with Joy, Happiness & lots of profit ! Wishes for all of you !

Taking profit on my gbp/cad shorts

As I mentioned in my post above about the short entry on gbp/cad, around 1.7215 area, So an update was due & today I am taking profits on shorts. For those who did not had a look at the chart, I am updating the chart here again.

I took the profits on gbp/cad too early but that is part of the trading, when you see a level is providing you a 4 to 5 time Reward of the Initial Risk, then You can exit or can trail your entry. As a scalp, it is a good reward but in case you go to higher timeframes, then You can see type of demand in clusters below & that is the only reason why I took profit on gbp/cad trade.

Crude is about to confirm the top on higher time frame & will collapse soon

I've been a long time bearish on WTI crude oil & reason being the recent global slow down, with Gold & Silver prices are at near five year high, I would surely be looking for crude oil to test the crucial 64.56 area, before it collapse. If a top has already been in place, then I would be looking to short it with a break below daily level of $60/barrel. I think that will offer a good risk reward with stops just above 61.55 area and target should be $50.65 which is the recent swing low on weekly chart.

If somehow we manage to break above $64.56/barrel, then It will nullify the bearish run & test of $70.00 barrel would be on cards, but I would still maintain my outlook of bearish on Crude & Brent Oil. Recent Tension in Gulf over death of Solemiani & threats by Iran Military officials to U.S, would really put lot of pressure on Crude Oil & pressure in trading means new opportunities.

I would update my outlook on WTI after the market opens today .

Rising Tension between United States & Iran create panic between Investors and traders

I would like to update you about the recent situation in Iran & U.S after U.S drone Attack killed Military official in Iran. Immediately after the death of the army official, Iran has threatens or warned U.S of the consequences. Market has already shaking here and there for the fight for Safe-heaven & in any case if there is more damage been done, then Gold & Silver will probably the first ones to create demand in the market and I'll also recommend looking for opportunities in both Gold and silver as I'm already seeing much higher level in both the Risk-heaven assets.

Beside, gold & Silver , WTI & Brent crude has already made new 2 years high & I would surely look to look at the scenario specially in WTI crude as I've seen some strong manipulation and eyeing much lower level after tension eased out. It has already happened few months back when Saudi's Oil refineries were attacked & we soon witness a strong sell-off immediately followed the news.

Crude oil is eyeing strong supply zone around 64.57 area, and I would like to see a retest of 60.50 level & if that happens, provided the scenario we are in, I would look to short surely around 65.40 with stops around 65.80 & Target would be first 57.40 & much much lower level would be seen in the coming weeks and even months. I

We already witness a strong fakeout after Saudis attack & that fakeout has happened because there are strong orders after supply capped the upside & Now, if there is panic in the market, then stop hunting would be seen. Practically, we can see market rarely cares for such things as whatever happens, price is going to rally, we just need to stay aside and watch levels to play and when it is our turn, which I think would be soon on cards, then we should step in with protective stops and good reward .

Crude oil Future crash After Trump speech

I update the trade before it had happened. Check the post above where I mentioned shorting crude around 65.40 level & high was around 65.56 area, & now it has reached the first target 60.12 & now I would watch a break below 57.80 to add one more lot.

How to analyze stop Hunting zone when a strong zone is already Engulfed

Hi Readers,

In this post I would like to draw you attention towards Engulfing price action and stop hunting after an area is engulf.

Price Action usually depend on few puzzles. First of them is Flag limit of a zone & second is price Action zone & whole the Price action evolves between these two zones. When an area is engulf, then we should set our focus to another important flag of the zone which is FL or even stop hunting zone. Usually, these areas are MPL zones or you can say Maximum Pain level when we have an area which is already given away (Strong support or resistance) & then price move backs to the zone and after Faking out the zone, there is usually significant Drop or Rise is seen.

Our focus should be on the reaction of the price, when Price again visit that area. Price usually visit that area with strong collection of orders. It could be these of areas & location few times. Price can compress to that zone or even price can create Stop hunting zone. Best way to spot those zones is usually stop hunting.

Stop Hunting process usually depends on way wyckoff explain the sign of strength or weakness

Wycoff usually spot end of trend with strong buying or even selling Climax and then accumulation & then another trend starts which can be either testing the distribution zone above or even with markup zone, when we have new trend in sight. But our focus is on testing the distribution zone again. I'll create a video explaining the chart with engulf and then test of area with conviction.

State bank of India stock NSE entering price Action zones around 337

You people must have been surprise by the blog title. As I never recommend trading stocks or derivatives. But due to numerous mails & comments, I'm hereby uploading the chart of Indian Stock State Bank of India.

Price is stalling ahead of 337 resistance area which is also a part of rejection of price action zone. If price manage to hold 326 area, then I would recommend shorting around 337.51 with stops around 339.50 & First target would be 317 & Second target would be 308 zone market with red rectangle.

Price Action Reacting the previous Manipulation zone which should act as bulk buying orders

As I have clearly stated in my previous articles that when you trade a swapping flag, then there should be a flag just below the engulf zone which should play the manipulation game & that chart is a perfect example.

More on that will be updated soon. Stay tuned.