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CAD JPY 64 PIPS - NEVER MONITOR YOUR TRADE!

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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162 PIP TRADE AS NZD CAD HEADED BACK TO SUPPORT

This trade was another Consolidation Setup where the pair gave a Double Top Formation to complete the Resistance Boundary and start a Bearish Move. This would lead to a break of the Uptrend Line to confirm the start of the move down to Support.
DAILY CHART
To take advantage of this, I then went down to the 4H Chart. I spotted the downtrend line formed as well as the High of Resistance of an Evening Star Bearish Signal and used that area for my Stop Loss. These 2 on their own are good Stop Loss a…
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47 PIPS ON AUD NZD BREAKOUT

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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GBP CAD Shows Importance of Having a Holding Period Rule

One of the most common traps that we fall into as traders is that of holding out for more Pips than we should on a trade. This can provide us with additional Pips at times but in most cases, the market will reverse sharply to quickly erase our trading gains in the blink of an eye.
This is why it is important to incorporate a rule as to how long you are going to hold on to a trade before closing it, regardless of whether it has hit your original target.
The GBP CAD trade provided a great example …
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102 Pip Gain Trading Within Consolidation

This trade took advantage of the movement within the Range Setup on the 4 Hour Chart of the 4 Hour Chart. Entry took place just below Resistance with the Stop Loss placed comfortably above it. Target of 160 Pips was initially set at Support, but I exited for a 102 Pip Gain instead as the market had not yet hit my target at the end of the established Holding Period.
These are the types of trades we can make until the market breakouts from the Consolidation at Support or Resistance.
One of the cha…
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102 Pip Gain Trading Within Consolidation

This trade took advantage of the movement within the Range Setup on the 4 Hour Chart of the 4 Hour Chart. Entry took place just below Resistance with the Stop Loss placed comfortably above it. Target of 160 Pips was initially set at Support, but I exited for a 102 Pip Gain instead as the market had not yet hit my target at the end of the established Holding Period.
These are the types of trades we can make until the market breakouts from the Consolidation at Support or Resistance.
One of the cha…
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71 PIP TRADE - CONSOLIDATION BREAKOUT

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

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

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

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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