StephenAdeniken

StephenAdeniken

Surprised the markets is still moving even on Christmas? Traders will always do their thing. Merry Christmas🎄 everyone. This is my open trade on #EURJPY 2-hour timeframe. The analysis is simple if you really look at the charts. The CHoCH represent the change into an uptrend and the pullback to support is my confirmation to go long.

StephenAdeniken

Study the charts on USDJPY; the first thing we see is that the pair is on an uptrend. How do I trade with this information? The answer is we wait for the price to create a new high and then pull back. After the pullback there are different types of entries I take depending on how the price plays out, they are as follows i) Price-taking internal liquidity ii)...

StephenAdeniken

This is the weekly time frame on $USDJPY. FX:USDJPY seems not to have made any significant movement in the last two weeks from a swing perspective. Why is this? This is happening because the price needs to gather momentum to break the previous weekly timeframe's bearish order block. I shall step down to the daily and 4hr time frame to look for buy...

StephenAdeniken

Monday's daily candle closed bullish as anticipated. I'm still anticipating a bullish market for the rest of the week

StephenAdeniken

This is the daily chart on FX:USDJPY The price tested the support last week and gave a bullish engulfing candle to end the week. I anticipate a bullish market this week.

StephenAdeniken

With a simple analysis done on the 1hr time-frame, price has pulled back all the way to the previous high but did not break structure. This provides me an opportunity to sell the market with a good risk to reward ratio. I place a sell trade and pray price drops down to at least the previous low.

StephenAdeniken

Price on EURCHF is trending down and hit a major support zone. There is a good probability price will reject off this support zone and pull up. I am a trend trader and the break of structure I labelled indicates the end of the trend and a chance of a reversal. To trade this reversal I need price to pull back and it has. Now I place a buy trade anticipating the...

StephenAdeniken

I labeled the high and low on the chart. Now because price broke the previous low and I am looking for a sell trade after price pulls back. The price pulled back to the previous low and gave a bearish engulfing candlestick as my confirmation to enter in for a sell trade. I have my stop loss well above the high an my take profit just at the low. I have a good risk...

StephenAdeniken

The labels I used on the chart explains the setup and my reason for a buy trade. Taking a closer look we notice a break of structure to the upside indicating an up-trend. To catch the maximum pips with a good RR we wait for price to pull back and which it generously did in this chart providing us with a fairly good 1:3 RR. Now I pray price continues its trend up...

StephenAdeniken

I am getting in on this trade late however I still have a 1:2 risk to reward ratio which is good enough for me. The setup is simple. Price is yet to break the high(99.083) which means price is still trending down. As a trend trader I wait for pullback to my preferred zone and take the trade for a sell which is what I have done here. Now I hold on to the trade and...

StephenAdeniken

This is the new publish on USDCAD. Price has made a new low and now I am looking to the market to pull back to my preferred sell zone. A sell stop limit order will be triggered soon as price hits the sell zone for a 1:2.5 risk to reward ratio.

StephenAdeniken

This is a sell trade of which analysis I did before now however I did not publish it. For the sake of learning and journaling I am publishing it now. This trade like every other trade I take is a trend trade. The USDCAD is trending down and gave a new low, I simply find and mark out the high and label my preferred sell zone represented by the red box. A sell...

StephenAdeniken

The USDCHF is trending down on the daily time-frame, when we drop down to the 4hr chart, we notice the retracement in a form of counter-trend. Now the structure on the counter trend has broken i.e. price broke the last low which by my strategy indicates the end of the counter-trend. To place a trade I wait for the price to pullback to my preferred sell zone which...

StephenAdeniken

The AUDJPY made a new low(87.088). Price is yet to break the high(93.334) the gave this low which means the market is still trending down and I am looking for sell setups. Price has retraced to a preferred zone that offers a 1:4.5 risk to reward ratio hence I take the trade for a sell and place my take profit at the low. What is left is to remain patient and let...

StephenAdeniken

This is the trade setup I made on USDJPY a day ago, I hope it is self explanatory. Drop down to the 1hr time-frame if you need to see a bolder view. Notice first the break of structure then the pullback which I placed a trade on and now running in profit. Now I pray the price drops all the way down to the previous low to end the trade in profit with a good risk to...

StephenAdeniken

The NZDCAD is trending down by creating two consecutive lows. Its a simple trade as the pair as almost pulled back to my zone. Trade will trigger soon as price hits my sell zone to continue the trend down.

StephenAdeniken

This is the view of the 4hr time-frame chart, although there are more information to consider from the bigger time-frames, we can see a clean break of structure to the preceding uptrend. the previous low has been broken indicating a possible reversal to the downside. I have marked out my sellzone of which I pray the market pulls back to and then I enter in for a...

StephenAdeniken

The rising wedge pattern formation on the 4hr timeframe is happening right at a major support/resistance zone viewable from the higher time=frames. Price broke below the previous low indicating a possible change of trend to the downside. I am a trend trader and my signal for entry is to wait for price to pullback to my preferred sell zone which price has almost...