Identify great set ups with MTF and PA techniques ...

MTFMarty

Newbie
Jun 11, 2020
8
0
1
40
Hello traders. Im currently trading with a very nice MTF PA system and I am happy to share potential set ups and watchlist items, as they appear in real time. Hopefully, it can help people to trade more successfully :)
 

MTFMarty

Newbie
Jun 11, 2020
8
0
1
40
AUDNZD

WEEKLY CHART:
A nice looking bearish pin bar pushing up into a strong area of resistance (reaction from s/r)

DAILY CHART:
A nice double top pattern to indicate that the trend momentum MAY BE slowing down. Notice here though that we have a hammer appearing at this level of support so I would expect a small bounce here or some price action clustering before price starts to think about breaking through.

Ill be monitoring this pair and looking to trade it from lower timeframes, IF I see the right kinds of price action behaviour and conditions that align with my trading rules. Like always, please only trade if this set up aligns with your own trading rules!
 

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MTFMarty

Newbie
Jun 11, 2020
8
0
1
40
EURGBP

MONTHLY CHART:
Showing some range bound price action but notice the last fast paced downward leg (from a monthly perspective).

WEEKLY CHART:
We can see some clear rejection at the upper resistance levels and the price action looks like impulse - correction here.

DAILY CHART:
The daily chart confirms this impulse correction price action behaviour and we can see a flag pattern starting to take shape.

Ill be monitoring this pair and looking to trade it from lower timeframes, IF I see the right kinds of price action behaviour and conditions that align with my trading rules. Like always, please only trade if this set up aligns with your own trading rules!
 

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MTFMarty

Newbie
Jun 11, 2020
8
0
1
40
AUDJPY

WEEKLY CHART:
A nice looking downtrend and we can now see price agressively pushing up into an area of resistance. Im not loving the big bullish candle that is pushing up into the resistance (as this is signalling good momentum coming into this area). But anyway, lets see.

DAILY CHART:
This is a great example of something that isn't ripe for me just yet but it still has good potential, should it react nicely to this area. For example, if we continue to see price pulling back sharply from this area and then we get another failed retest, this would be a trade that I would be starting to look at more closely.

This is a watchlist item at the moment and Ill just keep an eye on this as things continue to play out.
 

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MTFMarty

Newbie
Jun 11, 2020
8
0
1
40
CADCHF

DAILY CHART:
A nice looking correctional trend upwards that may be nearing completion (for me, this still has enough room left in it to be interested, but I understand that the attractiveness of this set up will depend on what trade management approach / trading style you are using). Price has now retraced down into a nice area of support which means we are entering int a high probability trading zone.

4 HOUR CHART:
We can see a clearer picture of price heading down into support and on the 4 hour chart, we would now want to see a clear sign that price is reacting to this area and heading into the other direction. This is another example where a trade set up is not yet valid for me because there are no clear signs of reversal patterns on this lower timeframe.

This is a watchlist item at the moment and Ill just keep an eye on this as things continue to play out.
 

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MTFMarty

Newbie
Jun 11, 2020
8
0
1
40
EURNZD

WEEKLY CHART:
We can see a nice looking trend here with a retracement pulling back into a nice area of support. Yes, it can still continue to retrace downwards (into the lower band of the trendline - or beyond) but on this timeframe, I am looking to see that price is in a high probability trading zone and it looks like an attractive trade set up to me from this higher timeframe perspective.

DAILY CHART:
The daily chart is still showing a clear downtrend and therefore, for this to be a valid trade set up for me, I would need to see the right kinds of price action behaviour which gives me confidence that a reversal is taking place at this support level. Only then would I then start to consider a trade entry, IF I see the right kinds of price action behaviour on the lower timeframes which align to my higher timeframe analysis and which confirm to my trade entry rules & conditions.

This is a watchlist item at the moment and Ill just keep an eye on this as things continue to play out.
 

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MTFMarty

Newbie
Jun 11, 2020
8
0
1
40
EURCHF

WEEKLY CHART:
A bigger picture downtrend is in play here and price is pulling back into a nice area of potential resistance. Im not loving the candle sizes as price pulls back into this area but we are currently seeing a good reaction to this area with the 'still forming' weekly bar.

DAILY CHART:
Here we can see the reaction to this zone more clearly which is a nice sign of weakness. So now, I am waiting on some additional price action signals to confirm that price is reacting to this area, whilst waiting for a better entry area. For example, if I see a failed retest of the resistance area or if I see a nice looking lower high forming near to this area, with good looking price action to accompany this, then this will be a good time for me to start considering a trade entry.

This is a watchlist item at the moment and Ill just keep an eye on this as things continue to play out.
 

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MTFMarty

Newbie
Jun 11, 2020
8
0
1
40
GBPAUD

WEEKLY CHART:
On the weekly chart, we are now starting to see price pulling back into a nice area of potential support which corresponds nicely to a nice upward trendline that has been in place now for some time. This is a nice trading area for us to expect a price reaction and there is plenty of upward potential here.

DAILY CHART:
The daily chart is still showing us that a downtrend is in play. There are no real reversal signs here yet and we will just need to wait for some more time until we get the right kinds of price action behaviour which align to our weekly perspective.

** There are a few AUD pairs showing some nice looking longer term potential opportunities so just be sure to manage your risk carefully **

This is a watchlist item at the moment and Ill just keep an eye on this as things continue to play out.
 

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FireAtWill

Trader
Jun 26, 2020
1
0
6
57
Hi Marty, thanks for sharing your insights - your price action analysis is good grounding for any new trader to start with.

Cheers!