The basic question we are trying to answer in our price action study is, "how likely is it that price will continue to move in a particular direction and to certain levels?". If price starts moving up or down, we are going to analyze what the probability is of price continuing in that up or down direction. We should be able to use this information to build a profitable trading strategy from scratch, or to assist us in making existing strategies more profitable... Read more »
Eur/Usd: Update on Today’s Price Action
Eur/Usd up, down, up, down like a see saw. For those of you that remember that wonderful playground toy. You are always moving but you never get anywhere. I have good news though there is a trade setup in all of this. Read more »
The “Pause, That Refreshes”
OK traders, good day to you all. Today I want to discuss with you the pause that refreshes. Take a look at the following chart and tell me, as a SCALPER, what do these 2 charts say to you? Read more »
Eur/Usd: Strong Support Area
The 1.4825 level is an extremely strong support area as that level has been tested five times in recent weeks. The 1.5000 level is a strong resistance that has been tested several times. Read more »
Eur/Usd: Is Officially In A Range
The head and shoulders pattern I wrote about in the last article never materialized. This currency is in a range because the market can't decide what to do next. Read more »
Maximizing Short Entries Through The SELL SETUP
Take a look at the following 1 hour chart and notice the downward sloping channel. In this chart I have circled a few good 1 hour sell setups. This setup occurs when a current candle is breaking through and or closes below the low of the last candle. We want to take a short when we see stuff like topping tails, which are seen in the narrow range candle bodies that have wicks to the upside Read more »
The Business of Trading – Part 2
In this second article in The Business of Trading, we address other attributes, skills, processes and equipment that you'll need to utilize in your trading business. Trading is a serious endeavor to undertake, treat it with the respect and commitment you would give to any other profitable business. Read more »
Eur/Usd: Head and Shoulders Pattern
Hello everyone how are you all doing? This is Friday evening and the weekend is coming up. I will be spending some quality time with my kids as well as a little time working and posting here on Winners Edge Trading. Read more »
Precision Entries and Maximizing Exits
Every trader has developed strategies over time based on observations. How many times have we longed or shorted a currency pair, only to see it go against us by 10-20 pips and make us nervous, or doubt the validity of our trade? What if you could strike with precision and maximize your entries and exits to a far greater degree? Read more »
Eur/Usd: Broke Down Through 1.4900
In the previous post on the Eur/Usd I highlighted the 1.4918 support level and in today's trading that level was taken out and the next support level at 1.4818 was tested. The price stopped at the 1.4818 support level now the pair is trading in a range between 1.4900 and 1.4800. Read more »