Price Action Swing Trading (PAST) Weekly Report – 30-March-14

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    Nigel Price
    Nigel Price
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    Hello Everyone, hope you are enjoying your weekend! Do you have a few minutes to spare for some PAST analysis?

    As regular readers will know, I am patiently continuing with my short bias on the monthly EUR/AUD chart. The market has given me no reason to depart from this bias so far, so I’m sorry if you are tired with the EUR/AUD charts, but I’m sticking with them!

    EUR/AUD Monthly Chart - Price Action Swing Trading

    One aspect of trading the long term charts that is often overlooked is how over time you become very comfortable and familiar with a particular chart. I think of this as a good thing; often if you are scrolling through loads of instruments looking for a new trading set-up every day (or even less) you can very quickly find yourself chasing your tail. If you use a good long-term anchor chart and stick with it until your set-up either plays out or fails, it can be a very relaxing and comfortable way to trade. It’s a bit like sitting in your favourite amchair – you are in familiar surroundings – but as soon as something is wrong, you will notice it very quickly!

    In my case, I have been following EUR/AUD for over a month now and I am very comfortable with it. I know where my lines are, where the important levels are, where I would be happy taking a trade, where I would need to be thinking about getting out. I much prefer trading in this way rather than putting myself under pressure to analyse new charts from scratch all the time.

    To recap on EUR/AUD, we have seen that in January the The PAST MT4 Anchor Chart Indicator picked out a long wick reversal candle. Price in February consolidated with another fairly long wick. March has shown a healthy move to the downside – but it is important to note that the SR signal on the chart is not valid until the monthly candle closes on Monday.

    If you would like to see how we would enter the market on a signal like this, take a look at the full PAST Weekly report here:- Price Action Swing Trading (PAST) Strategy Weekly Report 30-March 2014

    Nigel Price is the author of the FREE

    Price Action Swing Trading (PAST) Strategy eBook

    Click HERE to download it NOW

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