Mid-day Forex price action Analysis – 2016-11-03 (Potential setups on EUR/JPY, CAD/JPY, and AUD/NZD)

EDIT (2016-11-04 15:11 GMT): I am unlikely to hold this trade through the weekend. I will likely close it out early depending on what happens throughout the rest of the day. I will keep you guys updated, I am not rushing to exit, but it is unlikely I will hold over the weekend.

In today’s analysis I spot three potential setups, the first on EUR/JPY is the strongest, and I have already set an entry. CAD/JPY and AUD/NZD are pretty much both a “maybe”, keep a close eye on them.

I will try to update this blog post with any new info!

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  1. Adrian Eliffe

    Usual bolox from you Nick.

    Anyone who trades without the 200 sma on their charts is an amateur.

    You’d see at a glance why long EUR/JPY is a non-starter.

    Just check out H1.

    I know you’re going to remove this comment but I have a proposition for you.

    I’ll be in touch.

    • Nick

      I do not remove comments. I tried the 200 sma for a while, but it kept me out of a lot of good trades. I have been trading 14 years, I have tried pretty much everything, but I find that adding extra clutter to my chart does more harm than good in the long run.

      • chris

        Agree w/ you Nick, new to FX yet tried different indicators only to be setting them up & watching them, hoping for a good trade, while missing them. Learning very much from you w/ great results. Yesterday, USD / JPY, 62.4 pips,4 hrs. Closed for bedtime (fear), & missed more profit. FEAR= False Evidence Appearing Real ! Keep this going, luv it.

    • Nick

      You were saying EUR/JPY had no chance at moving up right? Well, this trade will be closed with profit. While a single trade doesn’t mean much, I am sure you will agree that my analysis on buyer control was correct….

      … That is two wins for me this week, I hit my two week target with these two trades. The 200 SMA is not a requirement, you may find it useful, but I do not. Price action is MUCH more important for me, and the two trades I shared this week (and the many I shared this year) show that my price action strategy works.

  2. Lukman

    Hi Nick,

    I have come to re evaluate my trading strategies and i find that your strategy mkes the MOST sense. I have lot a lot trading on lower time frames and have given up on them.

    Im with you on this one and have entered trade for EJ.

    Thank you so much for regularly sharing your trades on youtube.

    Warm regards.

  3. ian

    hie nick what time do you release your midday analysis according to SOUTH AFRICAN time seems i am missing it every time

  4. Tiger Tan

    HI Nick,
    I am Tiger from Singapore.
    Just took up FX trading since Sept’16 and found you by chance.
    Love every video you have send and found your so simple and clear
    to understand even better than my fx course. the course is only good
    was that they opened a live 5K account to trade after our course.

    I already shared you with two of my course mate, they too like you..

    You went MIA recently and now we are happy you are back.

    Last thursday on your setup, I just came back to my bad habit.
    Enter the trade before the candle was formed on 4hour chart.
    I need to change the urge and eagerness to enter trade.
    Waited for the first 2hours on 4hours chart, showing a very strong bull
    candle and out of excitement enter the trade, next moment it turn into a
    long wick inverted hammer, just frustrated lucky I am on 0,1% risk.

    I am going through your video on candlesticks and support and resistance
    over the weekend.

    Will be looking forward your weekly emailed.
    I hope I can attend your course in future.

    Your fan

  5. Norman

    Hi Nick

    Your midday analysis email of 26th October mentioned you’d be holding a live training session on 19th November and would be sending out a registration link the following day, but I haven’t see one. Is this event still happening?



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