Tutorial: how to do Morning analysis in the forex market ( 3/31/16 )

"I believe if we break in close above this previous structure level here on that for our candle that it's quite possible for us to make it all the way up to this zone this is just where I think the market has a possibility to reverse so we'll head back down to the hourly chart and what we're going to do is wait for the close of that for our candle in the next 52 minutes and then check back in the market see if it closed above if it did we'll start looking for trading opportunities if the market pulls back into this little zone and also if we do close above that high on the 4-hour chart this actually meets all of my rules for the 786 strategy so what I will be doing if we do close above that is just taking a Fibonacci retracement from our previous swing low here up to our swing high and I will be buying up with limit order the 786 with targets wherever this market ends we could go a bit higher so for now we'll say targets here and stops down below our previous swing low"

"the dollar yen is not presenting us with any trading opportunities this morning other than maybe a breakout of this small triangle to the downside I would not be interested in a breakout to the upside on this one"

"so what we have now looks a little more like this stop up here we have our targets down here and instead of a point seven three risk reward we have a two point three five and in my rules I only need a two to one so when I came in this morning and saw that the market had broke below the neckline and came back up traced a bit higher here I just went ahead and sold the market right above the 144 even handled"

"the only way I would be interested in trading the dollar Swiss today is if we come back up into this area here and even a bit higher I'd be looking at the top of these wigs so if we come back up into this area then I may be interested in a shorting opportunity but other than that other than a move like this I'm not interested in anything down here"

"we're getting a pretty good entry on a cipher pattern I'll go ahead and draw it in x2 a a to B B to C and C D completion here as you can see we've went well below our cipher pattern entry but that's okay because we have not broke below X yet so as long as we have not broke below X we've still involved in a valid cipher pattern"

"the Euro Pound is giving us no real potential trade opportunity other than maybe a test of this level if we get a really good entry reason I would not want to short just because we get up to this level... the only way I'd be interested in an opportunity there is if I got a really good entry reason as you can see we've been putting in higher lows on this four hour time frame so I would expect price to continue higher unless price action gives me a reason to think that it's not going to continue higher like maybe a double top and I may even have to see a break of the neckline in order to be interested in a trading opportunity here at this level"

"I can see two different advance patterns setting up and I will give you a second see if you can spot them one is a bat one is a cipher the cipher pattern is coming in from this point here x2 a day to B B to C C D completion and the bat pattern X to a a 2b 2c and a CD completion right down here b2c and a CD completion right down here and this consolidation to the upside means nothing to me when it comes to advanced patterns I'm not going to cancel this order unless we get within half of the ATR of this pair from the order and then continue up to hit targets"

"looks like we are currently about to break to the downside here we have been in a very bearish trend here on the higher time frames for a while now"