Tweezer - efficient Forex pattern Liteforex

(Cont.) Strategy Analysis and Prep GJ - 11.11

(Cont.) Strategy Analysis and Prep GJ - 11.11
11.10.2019 analysis:


Monday - Definitely a day ruled by the bulls. Referencing my last post, there was not a whole lot that my trade entries (chosen before market) allowed me to do. A bit past the upper side of my chosen entry zone you will see a double top, and on the M5, it makes a pretty clean M pattern. However, because it was so extended, I simply didn't want to jump in and "Guess the Top". Those with better analysis than I may have seen the turning point as the perfect short, as it lined up with a high made on Nov 7 at about 10:45 just perfectly. Personally, I think it is difficult to decipher demand from noise on the M15, but today was a learning experience, as I was surprised to see so many levels blown out of the water by London's early moves. Lessons learned.
Anyhow, not much changed here in the larger time frames. Daily chart and H4 are creating a very nice volatility tunnel. A true tease, the guppy is not giving us much here. What really bothers me? On the daily chart, it looks as though the nearest upward spike peaked on Oct. 21. Look left and what do you see? Not a whole lot. Nothing in the way of major supply to stop the impulse we saw. Much like banks build their order book in the JPY session (depending on who you study), this appears to be the same thing only on a grander scale. Is the lack of supply/selling pressure enough to see this to in the coming month, or would the banks rather average down to better supply/price before making that same move...


This pair is in a lot of noise, and as such, like yesterday, I am truly thrown off about whether to choose a long or short bias. Rather, I will simply determine two points at which I feel I have both allowed myself to allow the market to make its move as well as allowed for the over extension necessary for good R:R.
To the short side, I like an entry of around 140.58. The red "1", "2", and "3" represent any unfilled orders in the near term. the 3rd level is the most opportune in my humble opinion. Beyond that, there is significant room to run, so I will be looking for good signs of reversal before making my entry.
To the long side, I am more cloudy. At the very least, the US/AUD low provides some simply stop hunt opportunities, but this is not as far out as I'd prefer. the M15 Proximal demand zone shows a fairly text book rally-base-rally. However, being on the M15, I am not putting much behind it other than a zone to watch should the long stop hunt move get blown by. The 3rd level of demand listed with the Blue "3", provides a location with unfilled stops that stand the most to lose given the last trading day.
All that said, I will wait and see which direction the market surges in London open (if at all), and then prep myself for the fade. Having looked through u/thefrozen_one trades, I am going to be looking for the following to assist my entry:
  • Sharp rejection at my chosen entries - I am still learning how to place these, so I will also be looking left for structure to provide confluence to my analysis in the moment.
  • M/W patterns on the M15 or M5
  • Tweezers/long wicks - again, looking for confluence here and not blindly trading wicks.
I appreciate those who entertain my rambling. At this stage, I am not anywhere near predicting the next move. However, this has been my first opportunity to consistently keep myself honest in analyzing and tracking a forex pair, free of indicator madness. I am excited to see my rather dry and ambiguous observances mature into confident bias with which I attack daily trades.
Green pips to all!
submitted by Rich_Foamy_Flan to Forex [link] [comments]

Episode 076: Trading With Tweezer Tops in Forex Episode 106: Trading Tweezer Tops in Forex Episode 114: How To Trade A Tweezer Bottom in Forex Candlestick Patterns  Bullish Tweezer Bottom TWEEZER BOTTOM REVERSAL PATTERN TUTORIAL! KEEP AN EYE OUT ... Tweezer tops and bottoms Candlestick [How to use] - YouTube Learn forex - Tweezer tops and bottoms - YouTube

Tweezers pattern is a minor trend reversal pattern consisting of two candlesticks with roughly the identical or equal peak or another variation. Breaking News. FX Trading – CNBC Documentary on the Millionaire Forex Traders ; Excessive Correct Free Foreign Exchange Signals; The Fact About FX Trading, Bitcoin Mining, And Cryptocurrency; Trading Signals Freed from Price 99 % success trading ... Tweezer . It’s a reversal pattern, but in fact, it may form once the corrective movement got exhausted as well. In my opinion, Tweezer that occurs during a retracement is quite an efficient trend continuation pattern, which has been confirmed by GBP/USD. Tweezers in GBP/USD chart. The British pound had been actively sold against the dollar ... How To Trade the FX Tweezer Pattern. 07/06/2012 6:00 am EST. Focus: FOREX. Richard Lee. Currency Strategist, Richard Lee, contributor to, explains a chart pattern similar to a double top, but with key differences. It's better to get in on the start of a trend, rather than to be at the end of it. That's why currency traders are always looking to get in ... Tweezer Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos. The standard Tweezer is a two bar pattern. Our enhanced version is a multi-bar pattern. We filter the patterns for you so that you only get the best and most effective patterns and ignore the noise. What Is a Tweezer? Tweezers form when two consecutive candlesticks have equal, or very close to equal, highs (tweezer top), or lows (tweezer bottom) The equal highs or lows may also reflect the open or close of two consecutive candlesticks, or a combination of both; The colors of the candlesticks that form a tweezer generally don’t matter Tweezer form more often on smaller timeframe charts; Tweezer strategies are popularly used in forex, as well as options and futures trading. How to Identify the Tweezer Top Chart. For a chart to satisfy a tweezer top pattern the following must hold. Two adjacent candlesticks where one or both touch a new recent high; The first bar is a white and is followed by a black; The tops of the two bars should be level or nearly level; Because the ... Sixty Sixth session of Forex Training. Welcome back to Forex professional training in financial markets. In this session Tweezer Candlestick Patterns will be studied. Tweezer Top . When two Shooting Star patterns form on an upward trend, this pattern is called Tweezer Top. The ideal condition for this pattern occurs when two Bearish Shooting Stars form. Trader can place a Sell order with entry ...

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Episode 076: Trading With Tweezer Tops in Forex

Learn how to spot tweezer tops and bottoms in your charts and how to trade them. Learn more about forex trading at Fo... Today in Episode 114, I will show you how to identify a tweezer bottom, where to enter, where to place your stop loss and how to exit profitably. Episode Highlights: Trading ( 00:45 ) For more Forex resources and information, ... Tweezer Top Patterns and How to Trade with Entries and Stops - Duration: 11:45. Bullish Bears 1,377 views. 11:45. Five Power Candlestick Patterns in ... Candlestick Patterns Bullish Tweezer Bottom #Forex #Forex_strategy #Candlestick source: ★★Best Binary Broker List★★-----RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK Today in Episode 106, I will show you how to identify a Tweezer Top trade in live market conditions, where to enter, where to place your stop loss and how to exit profitably. Episode Highlights ... tweezer bottom reversal pattern tutorial! keep an eye out for these after downtrends . Tweezer tops and bottoms Candlestick [How to use] Tweezer Top and Tweezer Bottom - Learn how to use the two types of Tweezer Candlestick Pattern in your dail...