Possible Currency pairs to eye this week

Hi traders! I have built up a complete list of the trades I would try to eye ahead of this week and I would try my post to keep you updated when Opportunity would be provided

Because of the fact it is big week full of events start with UK PMI's, Aussie Interest rates, BOC Interst, Euro and BOE policy guidance and At the end of the week biggest release of much awaited NFP

Below is the list of the trades I would recommend

* Aud/cad

*Gbp/chf

*Aud/usd

I will try and keep the blog updated for the latest updates If market give me an opportunity to a possible low risk setup

Update of the post How to Use trail stops

I am continuing the post "How to use trailing stops in trading", and what better time to close the position followed by sell off and also during the weekend, otherwise I would take a chance with strong aggressive day about to close almost near the open but still we have to behave at exact time to preserve our profits and let the position run to get more out of a trade.

Those who did not check my earlier post Take a look at the chart

Update of the chart Cad/jpy

As I have stated in my previous posts that "Imbalance is what creates trends, and balance creates ranges", and Neutral day activities after strong trends breakouts is a very excellent clue of Imbalance and even though sellers were quite aggressive but buyers really manage to close day almost where It open.

You need to put simple thoughts if strong holders not were buyers then How did they manage to bring the price upto the open after strong selling yesterday

When we see price again start pushing up higher again after clearing up the noise, another entry was offered once again which need to be covered around 94.00, when price failed to make a new high and went on to close below the yesterday high. These simple things really differentiate smart traders from novice who miss logic piece in their trading approach.

As I have always manage to keep to the blog full of knowledge and with complete logic, One can anytime put any question in the comment section if Any such confusion occurs.

How to cover or trail the position

It is very important aspect of trading and it is must to use "Trailing stop", specially when price rallied right after you open the position and those who don't check my earlier post then take a look at this chart.

Update of the chart of cad/jpy I posted yesterday

As I mentioned in my previous posts that it is necessary to understand the logic and when you have few points that cover you entry and force you to enter the trade then it becomes important that you ride the most part of the trend, specially when trend is as stronger as I have mentioned yesterday.

I have booked half of my profits in that trade and as price has shifted equilibrium then there is good chance that it carry the momentum through out the day but even I would be stopped out, there would no regret as It is planned well before the event has taken place

How to spot Intraday Scalping opportunities.

In this post I would like to cover few points when you scalp for Intraday purpose.

The first thing you need to spot is to see If there is imbalance still presence (First clue always is neutral day after breakout where seller's are passive)

Second thing to see if there is minor development area after breakout (Say if there is aggressive to mark the price again to the up after minor sell-off)

After minor development area, Price again end where it starts (End up as neutral day which will confirm that imbalance is still present in the market)

After you see these clues the next important area is what price does after testing that minor development area, if it show immediate aggressive buying then you can immediately enter the market but if that momentum fades out earlier you should get out quickly. For me the best clue is often the slow tempo, and then suddenly price breaks the equilibrium after the minor rotation area breakout and test and you can get some nice profits as in this case in the above mentioned chart.

Moving Market accumulation Price Action Basics

IN this topic I would like to cover the most important point where we can see strong buyers or strong money participation and "Accumulation of Moving Market" is a good example of this. Not most of the traders are aware of this fact that accumulation process can be done on moving market specially when we strong liquidation after this process and we see some strong "Protection Area" (As shown In the chart) is a good indication of strong money Participation.

Chart of eur/jpy simplifies the post

In the chart I posted above we have seen some strong accumulation which means that there is strong supply in the market and price rises of that low and that In order to move the price we see strong money slowly accumulates the price.

We use to see strong momentum building through the mid of the day and tempo is very low at the extreme which is a strong sign of "Imbalance". We need to see a strong sign of liquidation which comes after the breakout and that heavy selling had some protection area at the as price pause after test the low of those accumulation area and price again went sideways for a day or two and then "Breakout and Test" was good enough to enter and then price rallied strongly to test the highs once again