All posts tagged extended reversal

Fib Matrix Forex Strategies | 2016-07-14 EURJPY +16

Categories: Live Forex Trades
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EURJPY +16 2016-07-14 | 5 min Reversal Trade

This was a 5 min reversal trade on EURJPY. Both the EURJPY and the USDJPY are showing the reversal; pattern with price on both pairs being at the reversal entry (the point of the V if you draw a line through the 1 min boxes to the bottom 5 min boxes back to the 15 min boxes).Two moderators take positions, although they enter at different times, with the first trade making +7 and the second trade making +7 on the first half with +12 on the balance.

For more details about using forex price action to scalp using the Fib Matrix TimeLanes trading software, here

Previous recording Fib Matrix Forex Strategies| 2016-07-13 GBPUSD +8

GBPUSD +10 2016-06-28 | Extended Reversal

This is a classic extended reversal trade, aided by the presence of the 5 min L3. Post Brexit moves have been fast and extended. Here Cable has moved down but has retraced. This can be seen by the formation of the boxes and extended gaps between them. Price has then moved down to test the level beyond the 5 min box which is 5 min L3. On reaching this level it snaps back quickly to give +10 pips.

You can find more details about using forex price action to scalp using the Fib Matrix TimeLanes trading software, here

Previous recording Fib Matrix Forex Strategies | 2016-06-27 EURUSD +8

Fib Matrix Timelanes | Trading Extended Reversals

The Fib Matrix TimeLanes provide a wealth of trading opportunities throughout the trading day. One of the trades with the highest probability of success is the extended reversal trade. This trade set up produces a distinct pattern amongst the boxes on the individual time frames. If you look at the Fib Matrix you will notice that they align into a check mark (tick) shaped formation, with the point of the check mark being the lowest 5 min box (highest if the trade is a short). The trade is taken at a a support level below this box (above if it is a short trade), the level dependent upon the price action at the time.

Live Trade Examples of Extended Reversals

Below we have gathered together a series of live trade examples of this trade set up being executed. Pay attention to the position of the boxes and the pattern formed on the Fib Matrix.

GBPUSD +9 pips 2016-05-05 | Extended Reversal

This a nice example of an extended reversal on GBPUSD. This set up happens when a pair has been trending in one direction makes a new short term high or low and then retraces. As often happens the market often tries to retest the level. This creates the check mark pattern with the boxes. We look to take the 1 or 5 min level beyond the lowest 5 min box. This trade worked out very well producing a net +10 pips.

Forex Price Action | EURAUD +9 pips 2016-04-27

After a move up, EUR/AUD has broken to the short side. The grid pattern shows an extended reversal pattern, where the 1 min boxes are above the the lowest 5 min box (see red arrow) creating a checkmark pattern for the arrangement of the boxes. The trade initially goes against us but there is the opportunity to add at the the two column support on the 5 and 15min time frames. The add allows us to closed out our initial entry when it gets back to break even then take half at +7 and the balance at +11 giving us a net +9,

Forex Price Action | EURJPY +6 pips 2016-04-13

EURJPY is in a massively extended reversal the 5 min time frame. You can see the move has been quick because the 1 min boxes haven’t moved past the 5 min boxes yet price is over 40 pips away from the lead 5 min box.This is unusual and is largely because EURJPY had been pulled sharply higher by EURUSD. As always, when trading a cross pair it is important to check the parental pairs. In this case Euro has moved substantially away from its 1 min boxes and is now at resistance with EURJPY in a extended reversal pattern a short on EURJPY is taken which yields a quick +6 pips

Forex Price Action | EURAUD +6 pips 2016-04-05

EUR/AUD is just in an extended reversal setup. You can see this in the way the 1 min boxes are below the lead 5 min box and price is at a resistance level on the 1 min time frame.. Generally you would like to see a larger gap between the 1 min boxes and the lead 5 min box so the trade was taken with some caution in mind. +6 pips

GBPUSD +9 pips 2016-05-05 | Extended Reversal

This a nice example of an extended reversal on GBPUSD. This set up happens when a pair has been trending in one direction makes a new short term high or low and then retraces. As often happens the market often tries to retest the level. This creates the check mark pattern with the boxes. We look to take the 1 or 5 min level beyond the lowest 5 min box. This trade worked out very well producing a net +10 pips.

For further information about how to trade forex price action, with the forex TimeLanes trading software, please click here

Previous recording Forex Price Action | USDJPY+8 pips 2016-05-04

EURAUD +10 pips 2016-04-27 | Extended Reversal

After a move up, EUR/AUD has broken to the short side. The grid pattern shows an extended reversal pattern, where the 1 min boxes are above the the lowest 5 min box (see red arrow) creating a checkmark pattern for the arrangement of the boxes. The trade initially goes against us but there is the opportunity to add at the the two column support on the 5 and 15min time frames. The add allows us to closed out our initial entry when it gets back to break even then take half at +7 and the balance at +11 giving us a net +9,

For more details about trading forex price action, with the forex TimeLanes trading software, please click here

Previous recording Forex Price Action | GBPUSD +10 pips 2016-04-26

#EURJPY +6 pips 2016-04-13 | 5 min Trend Trade

EURJPY is in a massively extended reversal the 5 min time frame. You can see the move has been quick because the 1 min boxes haven’t moved past the 5 min boxes yet price is over 40 pips away from the lead 5 min box.This is unusual and is largely because EURJPY had been pulled sharply higher by EURUSD. As always, when trading a cross pair it is important to check the parental pairs. In this case Euro has moved substantially away from its 1 min boxes and is now at resistance with EURJPY in a extended reversal pattern a short on EURJPY is taken which yields a quick +6 pips

You can learn more about the forex TimeLanes trading software here.

EURAUD +6 pips 2016-04-05 | Extended Reversal

EUR/AUD is just in an extended reversal setup. You can see this in the way the 1 min boxes are below the lead 5 min box and price is at a resistance level on the 1 min time frame.. Generally you would like to see a larger gap between the 1 min boxes and the lead 5 min box so the trade was taken with some caution in mind. +6 pips

You can discover more about the TimeLanes fx trading software indicator here, find out how it can help you develop and trade forex price action strategies.

Forex live trading room [2015-09-09 GBPUSD +7]

Categories: Live Forex Trades
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Forex live trading room: Price action in Paul’s London session had been dull but a sudden drop in GBPUSD presented him with a nice opportunity as GBPUSD was showing an extended reversal pattern. Paul got in at the extended reversal level and saw a quick reaction bagging +7 pips in very short time.

Forex live trading room [Forex Trading in 30 seconds] 2015-09-09 GBPUSD +7 pips

Below, the 2015-09-09 GBPUSD trade condensed into 30 seconds.

Forex Trading Signals [2015-09-02 GBPUSD +6 pips]

Categories: Live Forex Trades
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Forex Trading Signals: Wednesday saw a lively London session. With worse than expected UK Construction PMI, cable (GBPUSD) dropped to the extended reversal level where Paul scalped it for an easy +6 pips.

[Forex Trading in 30 seconds] 2015-09-02 GBPUSD +6 pips

Below, the 2015-09-02 GBPUSD trade condensed into 30 seconds.

 
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