Trades taken since the last post in June.

An update on some of the trades taken.

 

4hr charts W pivots

The 4hr charts again clearly show the importance of the W pivots and support/resistance levels and the relatively few number of significant moves that can be expected in a week (2 to 5).

Not all wicks are created equal EURAUD - what happened next

This goes back to the 5th June when we looked at the large hammer and what seemed like the rejection of a move lower. This suggested a move up would happen but we had doubts based on how we view the market. The flow of the market from 6th June would have been the deciding factor.

Hindsight is always a perfect science, but your trading can be greatly assisted when these scenarios occur live if certain candle patterns can be expected. The lower high, engulfing negative closes below the moving averages on the 1hr on 9 June was certainly not the kind of price action expected of a market moving up.

Please see these popular posts that looks at flow and our view of the market:

http://vantagefx.blogspot.com/2013/11/trading-101.html
http://vantagefx.blogspot.com/2013/06/question-on-absolute-basics-of-method.html
http://vantagefx.blogspot.com/2012/11/question.html
http://vantagefx.blogspot.com/2012/11/recap-29-nov-method-expanded-multi-time.html