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I have been involved with Forex trading for about 6 years now and after being disappointed with mainstream indicators I discovered price action trading relatively early in my career. Since then I have made price action the focus of my Forex trading, embracing it with a passion. I don't like... More
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  • GBPJPY Stalled And Prints Indecision Candle At Resistance 0 comments
    Apr 3, 2014 10:00 PM

    (click to enlarge)indecision price action gbpjpy

    Looking at the GBPJPY market today which clearly is stuck in rangebound conditions on the daily chart. We've seen aggressive bouncing between the two containment levels of the range recently creating nice price movements. One of those movement developed from a bearish rejection candle setup that formed last time the range was tested and produced nice returns.

    Last session the range top was tested again where price stalled and printed an Indecision Candle. The close of the day was lower than the open, giving the indecision candle a bearish tone. A break of the lows could be used to trigger short positions, targeting the range bottom.

    Keep in mind the NFP release is coming out this New York session, which doesn't usually concern us too much as price action traders. NFP will bring a surge of volatility which generally causes your trade to quickly hit the stop, or drive it into profit rapidly.

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