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DaddyPapi's Blog

DaddyPapi's Blog

CAD JPY 64 PIPS - NEVER MONITOR YOUR TRADE!

DaddyPapi Aktualisierte 14 Mar. in #Trader's blog #Resistance #Consolidation #Pennant #CAD JPY #Double Tops

This trade took advantage of the Double Top Signal on the 4 Hour Chart that told us that the pair was going to be headed lower over the next 24 Hours. It also appeared to be forming a Consolidation Setup, based on the nature of the previous Uptrend and the sudden and aggressive Trend Change Signal in the form of these Double Tops.
Below you can see an example of the waves that generally indicate that a Consolidation is being formed. These will either lead to the formation of a Pennant or a Range…

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FAST 137 PIPS IN JUST 2 DAYS ON GBP CHF

DaddyPapi Veröffentlicht 13 Sep. in #Trader's blog #Pips #Support #Resistance #Swing Trading #GBP CHF #Consolidation Resistance #Abc Signals

TRADE RESULT
This trade took advantage of the ABC Signal at Support of the Pennant on the Daily Chart, to signal the start of the rally to Resistance. Once the Signal was identified as being strong enough, entry then took place on the 4 Hour Chart. After just a day and a half, the trade provided a gain of 137 Pips.
SWING TRADING STRATEGY
The result reflected the use of the Weekly Range Trading Strategy where I target the 100 to 200 Pip Moves of the market. This is done using Candlestick Signals …

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47 PIPS ON AUD NZD BREAKOUT

DaddyPapi Veröffentlicht 18 July in #Trader's blog #Pips #Support #Resistance #Consolidation #Pennant #AUD NZD

Hey Traders how goes it?
This trade took advantage of recent bullish momentum in favour of the Aussie over the last 48 Hours.
Consolidation Setups are very common across the Forex Market and they generally represent instances of uncertainty about the Medium to Long-Term Outlook for the Pair. The Larger the Setup, the greater the news impact that is needed to start a breakout in favour of one of the currencies. This could be a Jobs Number, Trade Balance, Interest Rate/Central Bank Decision or the…

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100-Pips GBP JPY & CHF JPY

DaddyPapi Veröffentlicht 7 Apr. in #Trader's blog #4H Chart #Support #Resistance #Daily #Consolidation #100 Pips

The GBP JPY could give us a 100-Pip trade in the next 12-24 hours if we see a good signal on the 4H Chart. This would be in response to the Daily Chart signal already given at the Resistance boundary of the large Pennant. Giving us a heads up that this is likely to happen was the positively correlated CHF JPY that had a very similar setup last week.
DAILY CHART - CHF JPY
The trade would have involved entering at the close of that Daily bearish candle, placing a Stop Loss at the high of the ABC …

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THREE CARD TRICK- AUD CHF

DaddyPapi Veröffentlicht 4 Apr. in #Trader's blog #Resistance #Consolidation #Test #False Breakout

Like the infamous game, the AUD CHF is giving us 3 choices for what it could be setting up to do.
1ST CHOICE- SIDEWAYS, THEN BULLISH BREAKOUT

The pair had formed and broken out of a large Pennant before pulling back to test the Resistance. It has started to U-turn and looks as if it could be getting ready to resume the breakout. However, it could resume the breakout after moving sideways in a smaller range before breaking long.
DAILY CHART
The other possibility is that the bullish signal appear…

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SIDEWAYS PATTERNS- MONEY WAITING

DaddyPapi Veröffentlicht 11 Mar. in #Trader's blog #Support #Resistance #Daily #4H #Consolidation

Consolidation patterns have formed on the Daily and 4H Charts of some pairs over the last few days and these can be traded between Support and Resistance until the breakouts take place. Between 100 and 200 pips can be easily taken, making strong contributions to a traders´profitability.
On the 4H Chart of the EURO CAD, a large 200 pip range has been formed. The price is currently above Resistance but a break back inside with a strong enough candlestick signal would indicate a movement back down …

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CHF JPY RALLY COMING UP

DaddyPapi Veröffentlicht 18 Feb. in #Trader's blog #Resistance #Consolidation #Rally #Abc #4H Setup

The Daily Chart on the CHF JPY looks to have given a setup to reverse the recent downtrend to head up to Resistance at 119,17. The Setup given is an ABC bullish signal that normally indicates the reversal/start of a new trend. If this holds true, then a 400 pip rally will take place in the next 5-7 days.
DAILY CHART

Supporting this imminent rally is the uptrend line that started on September 11 2012, which could give us added momentum. Trading this can be done with an Entry or Market Order with…

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MISSED GBP USD TRADE

DaddyPapi Veröffentlicht 13 Feb. in #Trader's blog #GBP USD #Support #Resistance #Range #Candlestick Formation

There was a very nice 200-Pip opportunity that slipped my grasp on the GBP USD this week. The currency pair had given a Bullish Candle Signal on the Daily Chart as it started its move to the Resistance of the Range that was being formed. I had overlooked this because my attention was focused more on the breakout that would take place after the Range was formed, not realizing that a handsome gain was being offered as well.
DAILY CHART
As the currency started to form the second Support point to co…

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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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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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