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DaddyPapi's Blog

DaddyPapi's Blog

71 PIP TRADE - CONSOLIDATION BREAKOUT

DaddyPapi Veröffentlicht 10 Oct. in #Trader's blog #Consolidation #Breakouts #NZD CHF #Outer Trend Lines #Counter Trend Lines #Stop Loss Placements

This trade took advantage of the expected move towards the Outer Trend Line and the Consolidation Breakout on the Daily Chart.
Entry took place on the 4 Hour Chart which had created an Uptrend with Inner and Outer Uptrend Lines.
Stop Loss was placed below the Inner Uptrend Line and Entry Order set in expectation of a pullback. Once triggered, market took us back higher, where the Limit Order was set at the Resistance area.
Trend Lines are great areas to place your Stop Loss, especially if the ne…

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Keys to Trading Consolidations

DaddyPapi Aktualisierte 5 Oct. in #Trader's blog #Consolidation #Breakouts #Daily Chart #Candlestick Analysis #False Breakout #4 Hour Chart

There are 3 Main ways to trade Consolidation Patterns.
1. Trading Within Consolidation between Support and Resistance;
2. Trading Breakouts;
3. Trading False Breakout Reversals;
Each of these scenarios can be profitable, but the keys to being able to trade them successfully comes down to identifying the right Trading Signals.
If you Swing Trade the markets using the Daily and 4 Hour Charts without Indicators, then it means trying to identify the correct Candlestick Signals and Patterns on these …

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USD JPY Resuming Breakout after hitting Breakout Equivalent

DaddyPapi in #Technical analysis #Trader's blog #Consolidation #Breakouts #USD JPY #Forecasts #AUD NZD #NZD CHF #Breakout Equivalent

The USD JPY has now given us a strong Bullish Signal on its Daily Chart that looks set to continue the sharp gains in favour of the Greenback. This signal came after a brief pause in what is actually a Consolidation Breakout from a Large Pennant Setup on that time frame. As such, we can expect this breakout to last for a few weeks heading towards the end of June. As profitable these Breakouts can be, that pause that took place reflects a common Technical Factor that is often overlooked when deal…

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Not All Breakouts are Created Equal

DaddyPapi Aktualisierte 6 June in #Trader's blog #Consolidation #Breakouts #Signals #Candlestick Analysis #False Breakout #Reversals #Candlestick Signals

Breakouts from Consolidation are the most common of setups that are traded in the Currency Market. These have been more dominant in recent years because of the extraordinary Monetary Policy stances of Central Banks as well as other factors that have led to low levels of liquidity. Breakouts can be fast and sharp, leading to trade targets being hit within minutes or a few days. However, as tempting as these are, there are many traps that have often caught traders with our pants down and left us w…

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YEN CROSSES TIGHTENING, READY TO POP

DaddyPapi Veröffentlicht 17 Apr. in #Yen #Consolidation #Pennant #Breakouts

After several months of moving sideways within large ranges of 300-1000 pips, some of the Japanese Yen crosses might be about to finally breakout from these prisons of consolidation.
For the GBP JPY, the Daily Chart below shows the extremely large Consolidation Pennant that represents a large amount of uncertainty regarding economic and monetary policy in Japan. After reaching a peak of 172,49 on February 1st this year, we have seen the pair drop by 1000 pips followed by smaller waves of uptre…

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FALSE BREAKOUTS- USD CHF, EURO USD

DaddyPapi Veröffentlicht 1 Apr. in #Trader's blog #Consolidation #Breakouts #Correlation #Inverse

The inversely correlated pairs of the EURO USD and the USD CHF are at interesting crossroads. On their respective Daily Charts, we see that both had broken Support and Resistance boundaries that pointed to sharp and fast breakouts bullish for the Euro and bearish for the CHF. However, after pulling back and moving sideways, both appear poised to reverse inside of their large Pennant Setups.
EURO USD- DAILY CHART

We could be seeing a temporary bullish move to test the broken resistance before a …

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KIWI Leads the Way

DaddyPapi Veröffentlicht 8 Jan. in #Trader's blog #Support #Resistance #Consolidation #Breakouts #Kiwi

The Kiwi pairs of the EURO NZD and NZD CHF point to increased strength for the Kiwi over the next few days. The EURO NZD appears to be moving within a range with Resistance at 1,6780 and Support at 1,6100. The Daily Chart broke out of a Pennant at the Resistance with strong bearish candle to start the move down to Support. The 4H chart gave a follow-up signal to confirm the move with a break of a pennant this morning.
Entry Setup
Entry - 1,6350
Stop - 1.6470
Limit - 1,6100
NZD CHF, which has a s…

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JPY Crosses Set to Rally

DaddyPapi Veröffentlicht 26 Dec. in #Trader's blog #JPY #Consolidation #Breakouts

After taking a short break for the Christmas, two of the JPY crosses have given signals to resume their uptrends - EURO JPY and USD JPY. The USD JPY had already given a signal on the Daily Chart with a break of resistance of the Pennant at 103,35, corresponding to Support connected by 101.61 and 102.49. This has been followed by a bullish break of a 4H range to indicate the continuation of the uptrend. The next major target to be hit should be the 110.65 Resistance formed in 2008 August. Entry t…

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NFP Provides Strong Entry Signals

DaddyPapi Veröffentlicht 6 Dec. in #Trader's blog #JPY #Nfp #Support #Resistance #Consolidation #Breakouts

Stronger NFP numbers in the US helped to lift risk-appetite among investors, sending the Japanese Yen lower against higher-yielding currencies such as the NZD, USD, and EURO. The day also saw other pairs provide strong signals to indicate their direction over the next few days.
EURO JPY looks set to continue its breakout with a strong Bullish Candlestick Formation on its daily chart, that is part of the sharp breakout from its Consolidation (Resistance 135.00, Support 131.20). If the bullish bre…

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Disappointing Australian GDP leads to Strong Breakout Signals

DaddyPapi Veröffentlicht 4 Dec. in #Trader's blog #Consolidation #Breakouts #Candlestick Formations

After taking a pause for a few days, some pairs have given strong signals on their Daily Charts to indicate the resumption of their sharp breakout trends. GBP AUD, EURO AUD and AUD CHF have given such signals today and are expected to reach their targets between now and the middle of the coming week-200-300 pips on average are possible here. Starting their breakouts are the AUD NZD and the AUD JPY. All of these Aussie pairs have given signals indicating the currency will lose significantly in t…

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