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DAY 23 - PRICE ACTION TRADERS

Here are some important points to consider, if you are a Price Action Trader:
1) Preserving win rate at the expense of risk/reward is foolish and a sign of a lack of confidence.
2) Very rarely taking a full loss on your losing trades is not something to be proud about. It very likely means your initial Stop Loss was too wide.
3) Those who consider themselves price action trader. If you can't find multiple setups per week, even as a part time trader then you really can't call yourself a good p…
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Very good recommendations!!

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DAY 26 - PRICE ACTION AFTER FOMC

Price action remain choppy on majority of pairs as traders awaiting for FOMC Statement and Interest Rate Decision tomorrow.
While analysts expect no change in interest rate and dovish tone from FOMC mainly due to stagnant global growth and its to early to gauge effect of Brexit and how it would effect future growth in UK and other countries in Europe.
In times of risk aversion, US Dollar & Japanese Yen is mostly in demand, as such I would be looking to buy these currencies in near future.
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DAY 12 - Price Action Trading

Over the years my trading have changed from using tons of indicators to absolutely no indicators. At present my analysis includes combination of support & resistance and supply & demand zones and observing price action at key areas.
In my opinion, price action trading is not just trading pinbars or engulfing patterns. Rather, it’s reading the sentiment of market participants, identifying areas of value, and trading along the path of least resistance. Moreover, there is no hard and fast rule and …
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NZD/CAD- Strengthens further more !

  • Charts: 4 H,1 Day
  • Elements used: CCI, Support & Resistance
  • Current Level : 0.9515
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Metal_Mind 14 Apr.

UPDATE 1: The pair is trading at 0.9376 which is over 300 pips from target. I was a bit to bullish on the kiwi but still with half a month things can go very well. We shall have to wait and see.If the current reatracents finds a supports and develop a higher low there are high chances to narrow the deviation.

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Metal_Mind 18 Apr.

UPDATE 2: As said in previous update i was expecting a higher low  which formed 2 days ago on  the 0.9297 level .The new formed support was strong and from there the price action jumped over 100 pips in that day. I may say that the current outlook is definitely very good . We would probably see a 270 to 300 pips ascent  and afterwards a retracement which could be exactly what needed to hit my target.

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Metal_Mind 30 Apr.

UPDATE 3 : The prediction is  very far from target.

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EUR/GBP - Bearish price action !

  • Charts: 4Hours, 1 Day.
  • Indicators: Fibonacci Fan Lines,Fibonacci Retracements.
  • Prepared with : JForex 4.
  • Current Level : 0.8141
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Metal_Mind 25 June

UPDATE 1:EXCELENT PREDICTION. The pair had the bearish price action that i managed to predict so accuratly. In the first chart i  draw some support zones towards which the price action might be heading and where it can encounter resistance. My wiew at the time of analysis was that  the sell wave will find support at 0.8337 price level but the  momentum was much strong and the price action pushed lower finding  support in its lowest point at 0.7957 which is only 4 pips away  from 0.7953 my second support that i draw in the first chart.

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Metal_Mind 25 June

UPDATE1 -Part 2 :As i mentioned in this analysis the red circled area in the first chart was  very important  because it helped me predicted & project future price action developement based on historical price reaction. This idee of mine proved very accurate if we take into consideration that the pair found support at 0.7957 ,only 4 pips away from the support that i draw in first chart.Current price level is 0.8024 which is only 72 pips bellow  the target.This one truly remarkable prediction and has all the premises to hit the target.

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Metal_Mind 27 June

UPDATE 2: The deviation from target increased in the meantime  to  96 pips. This prediction still remain in the books.

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EUR/NZD - Range to be expected!

  • Charts: 4Hours, 1 Day.
  • Indicators: Fibonacci Fan Lines,Fibonacci Retracements,
  • Prepared with : JForex 4.
  • Current Level : 1.5866
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Metal_Mind 25 June

UPDATE 1: Current price level is 1.5600 which is at over 300 pips deviation from target .

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Metal_Mind 27 June

UPDATE 2: Deviation increased to over 400 pips.

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EURUSD Analysis before FOMC News Event

Fundamental View

We are seeing lot of buying interest at 1.3880 on EURUSD as every dip into this level is being bought heavily. The fundamentals certainly doesn't look favorable to this buying spree because Eurozone CPI number came out as 0.7% which was weaker than expected and Germany ZEW Economic Sentiment fell from 52.8 last month to 46.6 this month, which is the lowest number since September 2013. Perhaps traders are more confident in Eurozone economic growth compare to US economic growth, …
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USD/JPY-From Range to Breakout!


Charts: 4Hours, 1 Day.
Indicators: Fibonacci Fan Lines,Fibonacci Retracements,EMA 200,100,50.
Current Level :102.08

USD/JPY after two monts ago reached an high at (105) level has begin retracing to (102) price level , which lasted most of January.The dollar hited a 1 month low.The current price level hit fibonacci retracement level 38.20%(102.20) and from the look of it ,last month i belived we would have by now a bullish trend at (104) price level.
That has not happend , the pair moved all
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Convallium 28 Feb.

I like your prediction)

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Metal_Mind 27 Mar.

UPDATE 1: Currently the trend is in a range. On 17 march  the pair  reach an  low at 101.20 which was on the right track and closer to my target. Current price level now is 102.22 which is  an 220 pips deviation .This big range started on 3 February and now has pass over 2 month. Personally i see a bearish brekout soon and this prediction will be quite good even if the timming won t be so precise.   

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Metal_Mind 28 Mar.

UPDATE 2: Friday closing price was 102.84  sending the deviation to more than 240 pips.

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EUR/NZD -Bearish Sentiment


Charts: 4Hours, 1 DAY.
Indicators: Fibonacci Fan Lines,Fibonacci Retracements,Support & Resistance Levels , MACD, EMA 200,100,50.
Current Level :1.6451

EUR/NZD is definately set for a bearish retracement from current bullish trend. The pair is currently moving within fan lines and fibonacci retracements retesting important price levels ,support & resistances.Next move that i expect is a run until (1.64) price level followed by a false bullish run and after that a complete & gradual fall of the
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Metal_Mind 27 Mar.

UPDATE 1 :The direction is definatly good. The trend is bearish as i anticipated  but what i didn t anticipated is the  strength of  the kiwi  which  made the pair plummet  over 600 pips from the time i put thi prediction and send the pair 400 pips below my target.

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CAD/JPY- Plummets!


Charts: 4Hours, 1 Day.
Indicators: Pattern Analysis Widget ,Fibonacci Retracements,EMA:3,5,13,21,50,100,200.
Current Level : 92.39

CAD/JPY encountered a Resistance at (101.05) after a strong bullish trend of 2800 pips that started almost two years ago. From there as can been seen on the chart, there where 4 consistent attempts to break lower 92.00 level unsuccesfull though, and that helped formed a small range area between (92.00 )& (97.50 ).
As you can see the pattern analysis widget identifie
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Metal_Mind 27 Mar.

UPDATE 1: WRONG DIRECTION

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