EURO USD Technical Chart Analysis
Doji candle | Continuation patterns | Head and Shoulders pattern | SR levels
EURO USD
New article about forex manipulation in regards of stop running at http://forex-chartanalysis.blogspot.com/p/price-manipulation-in-forex-market-is.html
Some highlighted chart levels and chart patterns on the EURO USD Forex Charts.
The highlighted Doji candles on the 5 min and on the 1 hour Euro/USD chart could have been used as triggers. There are also many continuation patterns on the 5 min chart (green circles). We had a kind of inverted Head and Shoulders pattern on the 4 hour/ 1 hour chart.
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| 4 hour Consolidation patterns, Pivot Points, SMA, SR levels |
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| 1 hour Inverse -Inverted- Head and Shoulders pattern, neckline, Doji |
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| 5 min Doji candle, Continuation patterns,Pivots |
Read the Chart Legend above and the pages: Chart pattern explanation, Chart patterns explained, Chart pattern analysis and Candlestick Chart patterns to get more information about the underlying Chart and Trading Patterns/Signals/Strategies
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I like this Article beause it is knowledgable and summarised. I enjoy reading this article. thank you for sharing such a wonderful post, I will surely work as per mentioned in this article for training
ReplyDeleteI feel it very difficult, can you please add description with each trading graph
ReplyDeleteThanks for your Feedback.
DeleteThe Chart Legend on the top of the page might help you. I use 10, 20, 200 Simple Moving Averages, daily, weekly, monthly Pivot Points, Fibonacci levels and Support/Resistance are often important highs/lows.
A very important aspect in (Day-)Trading Forex is that price is most often pushed/ manipulated (particular at News Release) to slightly penetrated or break Support/Resistance zones (e.g. recent Highs/Lows/Pivot Points or in general where stops are anticipated) to trigger the stops - stop running - and often reversing after completing the stop run and gauging the opposite zone where stops are anticipated (e.g. stops of the fooled breakout traders). The manipulation aims to catch the stops and to fool breakout traders at Support and Resistance or strinking levels e.g. Highs/Lows and psychological numbers . This allows market manipulators to postion themself against the mainstream trader. This explains why most of the traders and mainstream trading strategies fail and will fail in the future.
I currently think that the best/only way to successfully trade is to accept and understand the way of market manipulation. Thus, it becomes important to analyse the intention of the manipulators, which is to catch stops of the mainstream traders and to fool them into bad setups (mainstream setups) by moving the market in the opposite direction gauging the mainstream stop target. Mainstream setups/ patterns only work out when there are related to the manipulator's strategy. So it all falls back to the manipulator's trading strategy but if the mainstream trading strategy will work out, which probably is statistically insignificant , then it is enough to reinforce the hype about the mainstream trading strategy, which is mostly fooling traders into ba setups.
Furthermore, IMO there are many algorithmic trading programs of the market manipulators, which are automatically employed on the short term timeframes like 1 min and 5 min and others programed using the market power to move market against the mainstream traders (setup) to shift the odds of succesfully trading forex heavily against them.
However, there are some trading methods which are not mainstream and might be successfully employed/exploited by techncial analysts. Very often, these methods are insync with the market manipulator' strategy but not neccessarily in every case.
In general, I would argue that stop running/market manipulation on shorter timeframes should be understood, accepted by traders and that it should play an important part in a traders short term trading strategy to successfully trade forex. A very wise alternative would be to stay away from forex!