Hi guys, I’ve been very MIA – my attention has been heavily focused towards the development of the new Battle Station.
Finally we’re coming out of the Summer trading period, so volatility should start picking up now.
In today’s post I’ll give you a sneak peak at what the up-coming version can do and look at a breakout setup here on the EURJPY daily chart.
In the War Room, we’ve been following this box consolidation structure here which is highlighted on the chart above.
This extended tight ranged price action has formed a framework for which the market can ‘break out’ of. Any kind of tight price action is generally followed by explosive movement.
We can see here that the last daily candle decisively closed outside of the structure on the bullish side. A very strong bullish candle anatomy here with no upper wicks opposing the breakout – which is always good to see.
Now that the price action are basically revealing it’s intent and communicating it wants to try move higher.
If this breakout holds, we will probably get a nice push up into the next set of major swing highs, plenty of room there for reward.
Also with the new version of the battle station, it’s designed to understand your technical analysis, and has automatically highlighted this breakout event, and sent a notification to my iPhone to let me know.
Looking forward to finishing the new version and getting war room members feedback on it.
Best of luck on the charts this week.
Steve Epperson
Don’t normally trade this pair. However, all kinds of reasons to jump in long. Nice rounding bottom (no sexual reference intended) created a trend line break. No coincidence bull trend bars started hovering over EMA at this point. Very tight bullish trend forming. I don’t really care that my protective stop is going to be wider than usual. I’ll just use a smaller position. I think I will help myself to a nice profit on this one. Thanks again for treating us amateurs to some great technical analysis.
danialloo
what is the timeframe for analsis
[email protected]
How did you get the notification on your phone. About the break out? Is this an app? Thanks
Replying to: [email protected]
Steve Epperson
Since I’m here– and I have to be a busy body– you get the Price Action Battle Station on this page . Click on The War Room at the top of this page for more info. While you’re at it, check out the FREE articles, FREE videos and FREE Forex setups on this site. I think by the second article, you’ll be convinced that Dale is a true professional worthy of your time and attention.
Ray
How you get that messege on your phone
Josiah Best
Pls sir which platform and and broker are you using that are able to understand your analysis and forward alert to you. I really need it. Thanks sir woods.
Replying to: Josiah Best
Dale WoodsAuthor
I am using MT4
Replying to: Josiah Best
Steve Epperson
I agree, you need this great tool. You must become a War Room Member to get the alert on your phone. Click on “War Room” at the top of this page. Then follow the instructions to become a member. Super easy, super quick. Start getting high probability price action setups right on your phone. Don’t keep struggling with the charts. Sign up now.