Hi Guys,
I've had quite a but about setting significant highs and lows spoken as triggers for reversal trading posts. In this video I show you exactly why I do this.The video began as a trade in live video but the trade was never caused. So I used the video as an opportunity to illustrate the importance of using the significant highs and lows.
Podcast: Play in new window | Download
Hey guys,
Just wanted to let you know I've been in the 130.83 scalp short at 4: 30 pm GMT time. The market moved very nicely in our direction, but was stopped by the constant line 40 pips or so under our scalp. I do not underestimate the power of that constant line. I exclude at break-even (current on 130.70). This week is unfortunately very slowly.This is the only trade and it didn't work out as expected., at the very least, it is not already a losing trade.
Hey guys,
Per analysis for this week ... not really a lot going on in terms of lines. I will concentrate on reversing trades usually if they are incredibly well at the moment.
Take one of these trade not unless you've downloaded and read the new 2010 edition free e-book to explain my method.
Recently I started using meetpips.com sign of my trades. The great thing about the site is that once you have your trade produces some very detailed statistics and graphs. So I mentioned that at the end of each week I would that charts here and sharing my trade statistics. You can also see my monthly pip correspond in the column on the right.
I have pretty good this week + 127 pips on three trades.
Hey guys, here are my stats for this week! Someone emailed to ask me why I skipped the statistics last week. It was just because I had no winning or losing trade last week. I had a single break even trade and it seemed like posting stats for that would be a bit silly.
These statistics show my three trading this week. I took three reversals GBP/JPY, GBP/USD and EUR/JPY.I've been saying for months reversal traders are great at the moment. this week we had a perfect storm.
I have a live trading videos for this trade not take as I was not around much this week. However, I will release a video on the weekends to explain how and why I they traded.
This is a bit of a rant ...
One of the most annoying things about Forex trading is trying to describe your task to people. I can't remember how many times I've tried to explain how Forex works to people I meet.Even some of my good friends just don't understand what Forex is all about and it doesn't help that Forex has a reputation as a shady company related to online poker.
A few nights ago, I had a conversation with a girl who I meet.The conversation went a bit like this.
Her:So what do you do for a living?
Me: I trade the Forex market.
Her:Oh what is that?
Me:It is, in principle, foreign currency exchange. I invest in foreign currency and money as they move up or move down.
Her: Oh, so you are at the airport and money in the currency exchange kiosk change if the rates change?
Me: No trade I on-line.I buy and sell currencies on-line.
Her:Right, so an armored truck delivers the currency to your home after you buy it?
Me:No, no. think about it, like the stock market but instead of investing in stocks that you invest in currencies.
Her:Ohh ok that I heard about that.Isn't that a work from home scams? I don't think it's a real job.
This may seem like a rare interview, but it is not. I get this kind of thing all the time even from family and friends. some of them thinking that I make my money gambling. I feel almost like an idiot for not able to properly explain what Forex is and how it all works.
I used to think trade was tough. it is much harder trying to explain what trade to people you meet. This is a solitary venture.
Enjoy this post? then leave a comment and say thanks!
21 September 2010 print this articleThe dollar fell for a second day against the euro and the yen before reports this week that can display the u.s. housing market is still fragile, add to the indications that the growth of the world's largest economy takes the American currency. approaching a six-week low versus the euro on the concern of the Central Bank will today confirm its promise to keep interest rates low for a "grace period" and the signal is open for increasing debt purchases. Yuan climbed to the highest level since 1993, after the President Barack Obama criticized China for not letting currency strength.
Trading Tactics
A lack of swing pattern could be an opportunity to sell EUR/USD.
A buyer point is on the 1.3180; former opposition is to take the profit on the 1.3310; The pivot point is the stop loss at 1.3075
A selling point is on the 1.3075;Fibonacci 38.2% is the take profit of 1.530;The pivot point is the stop loss at 1.3160
Technical: Euro constitutes a lower resistance and can start a minor downtrend.A lower back move could configure a test of 1.2960
To strengthen our analysis; we use many other indicators, starting with the MACD (moving average convergence divergence); MACD crosses the signal line we note down. momentum and RSI (Relative Strength Index) is in a downtrend; Stochastic oscillator is in bearish direction.
* Analysis is for information purposes only and does not constitute advice in any form. trading of financial products provides a high degree of risk to your capital and it is possible to lose more than your original investment.
By Finotecs professional analyst,
dealingdesk@finotec.com
EUR/USD (per hour chart)
In this vid I trade in Live trading on a indecision pattern a trendline forms. This is pure price action trading and he ended up being an awesome trade. Best thing is I go over everything in detail. I explain:
Why I included the trade. Why it worked out. Why I set up my entry order where I did.Enjoy this post? then leave a comment and say thanks! and if you have any questions, feel free to ask.
Podcast: Play in new window | DownloadI started to shoot a video, but there was so little is happening on the cards that the analysis vid just 30 seconds. So, I thought it better to just throw a picture for this weeks analysis.
We have no new scalp lines or constant lines.There is a new S + R zone between 131.00-130.40. This is a no-trade zone.
I will be posting some new videos on this week so stay tuned.
28 September 2010 print this article The dollar traded near a five-month low against the euro on speculation Central Bank officials will signal this week their readiness to take several measures for easing of credit.Greenback was near a two-week low against the yen before reports forecast shows U.S. Home prices fell for the first time in four months and consumer confidence rose against the Yen weakened. 14 of its 16 major counterparties as Asian stock losses, boosted demand for Japan's currency as a safe haven. the Australian dollar was close to its strongest level in two years on the prospects of the Central Bank will raise benchmark interest rates next week.
Trading Tactics
A double top pattern could be an opportunity to sell EUR/USD.
A buyer point is on the 1.3520; former opposition is to take the profit on the 1.3640; Pivot point is the stop loss at 1.3410
A selling point is on the 1.3410;Fibonacci 38.2% is the take profit of 1.3290;former resistance is the stop loss at 1.3510
Technical:The euro represents a double top reversal pattern and can start a downtrend.A lower back move could configure a test of 1.3410
To strengthen our analysis; we use many other indicators, starting with the MACD (moving average convergence divergence); MACD crosses the signal line we note down. momentum and RSI (Relative Strength Index) is in a downtrend; Stochastic oscillator is in bearish direction.
* Analysis is for information purposes only and does not constitute advice in any form. trading of financial products provides a high degree of risk to your capital and it is possible to lose more than your original investment.
By Finotecs professional analyst,
dealingdesk@finotec.com
EUR/USD (per hour chart)
27 September 2010 print this articleBank of Japan Tankan survey will probably show a slower pace of improvement in business confidence, adding to pressure on decision-makers to counter gains in yen by injecting more cash in the economy. A quarterly index of emotions on major manufacturers increased by 6 points in September, at least since March 19, 2009, according to economists surveyed by Bloomberg News median forecast.
Trading Tactics
A clear downtrend could be the opportunity to sell USD/JPY.
Point the buyer is on the 84.85; former opposition is take profit on 86.00; Fibonacci, 50% is the stop loss by 84.40
Selling point is on the 84.17;previous support is the take profit of 83.50;Fibonacci 38.2% is the stop loss by 84.75
Technical:USD/JPY forms a lower resistance level and continue the great downtrend.A lower back move could configure a test of the 83.50
To strengthen our analysis; we use many other indicators, starting with the MACD (moving average convergence divergence); MACD crosses the signal line we note down. momentum and RSI pointing downward. stochastic oscillator is in bearish direction.
* Analysis is for information purposes only and does not constitute advice in any form. trading of financial products provides a high degree of risk to your capital and it is possible to lose more than your original investment.
By Finotecs professional analyst,
dealingdesk@finotec.com
USD/JPY (per hour chart)
You want a foreign exchange software? Here are the top 5 tips for profitable forex trading with automatic Forex trading software.
# 1: get software that is able to double the money.
Which to choose?Advisers, robots, or the most important part of signals? is to make sure that you get something that works. In particular, the software that is able to double the money.
So what should I choose? Why robots, of course.All you can do is to make it available and it trade for you.
# 2: the robot is to buy and to avoid the freebies.
The truth is, if you want something good you are going to have to pay it, the old saying is true. forex program "you get what you pay for."
It saves money in the long term, to purchase something, which works on the other hand, the loss of the trades in question, something which does not make successful trades in tonnes.
# 3: only use the addressed to the robot and to avoid the back to the test results.
Most of the robots will be carried out by looking at how to optimize what has happened to the system tests based on the previously recovered.But in the event of a change in the market, so always go back to the tests are misleading.
When you receive the robot make sure that it is connected to the real money with more money in the sectors of the invitation to tender.The numbers may fall within the scope of application!
# 4: make sure that you can automate your online stores.
Some programs do not, however, is able to act automatically.You want to get a system that works for you, even when you don't want to optimize this software ... you can make it even if the business problem.
This is again why robots are the best forex trade, they can be and why they leave the Forex software in the dust.
# 5: Obtain currency-a software that is guaranteed.
Not everything works for all. [1] [2] It is precisely the honest truth. [1] [2] for example, suppose that, for example, to get the best auto trader in the world but do not know, do you think it works!, you will be able to do some profitable trades in question, it is not likely to be with?.
So you get the BOT with a money back guarantee and check that if, despite the fact that it is the world's best thing, if it does not work out for you, it is recommended that you back up the money back to you by giving you can save you in the heart of our it discomfort exists without much in the long term.
18 October 2010 print this article On Friday morning, EUR/USD traders count to the publication of a speech by Chairman Bernanke, the Fed. Bernanke stated that a low level of inflation was an important issue. This suggests that U.S. interest rates is likely to remain low for a very long period.Bernanke traveled even the question of a possible amendment of the wording to indicate that the Bold intends to keep rates lower, longer than the markets are expecting.Cross saw THE EUR/USD at up to the range of 1.4150, following the publication of the speech. data of United States was mixed with slightly lower-than-expected inflation, but the NEW Bold investigation and retail sale came out better than expected. Mid-morning American data (Michigan consumer confidence and Business inventories) was too close to the expectations that have no impact on EUR/USD trading.
A clear uptrend could be a possibility to buy EUR/USD.
A buyer point is on the 1.4101;previous high is the take profit 1.4150; formerly support is stop-loss 1.3.900
A selling point is on the 1.3770;previous support is the take profit of 1.3635;The pivot point is the stop loss at 1.3860
Technical: Euro breaks the former resistance level upwards and can continue the great uptrend.
To strengthen our analysis; we use many other indicators, starting with the MACD (moving average convergence divergence); we notice the histogram MACD has a bearish direction; RSI (Relative Strength Index) and the momentum is in an uptrend; stochastic oscillator provides an offensive signal.
* Analysis is for information purposes only and does not constitute advice in any form. trading of financial products provides a high degree of risk to your capital and it is possible to lose more than your original investment.
By Finotecs professional analyst,
dealingdesk@finotec.com
Finotec Analysis Team 27 September 2010 print this articleBuy a break on the resistance level of 1.3650Sell a break on the support level at 1.3415Buy a pause at the resistance level of 1.3510Sell a break on the support level at 1.3280Sell a failure to break the resistance 1.3650
Basic
The euro weakened from a five-month high against the dollar as speculation European banks need more money curbed demand for assets in the region of the 16-nation.Europe's currency decreased versus all 16 major counterparts before Ireland reveals this week, the costs of the caper, Anglo Irish Bank Corp, in addition to the euro slipped also from an eight-week high versus the yen after Der Spiegel reported the Commission lacks confidence in the viability of the German regional lenders.
Technical
Technical analysis shows the euro can continue its uptrend after a small fix. We note the demand on the market by means of indicators such as MACD, which gives us a buying signal. RSI provides an offensive signal. Bollinger is a neutral position by closing the candle below higher band.
EUR/USD (daily chart)
The primary trend is clearly a downtrend.
EUR/USD (4-hour chart)
The couple bounces on the Middle Bollinger band.
EUR/USD (per hour chart)
Less tendency to face a strong resistance.
Resistance
1. the 3650
1.3510
Support
1.5,250
1.3280
Finotec Analysis Team 14 October 2010 Print this article GBP/JPY stabilized above 76.4% correction shown above once again, yet is providing clear negative Stochastic signals.If we assess the pair's general movement, the pair stabilized within the descending (lyrics) minor channel and declined two gain momentum bullish once again before returning to the upside.Stability above 130.45-130.50 will be enough to take the higher pair to test the 50 MA and the main resistance for a downside move.
(A) buying points is @ 130.50 Based on break of a previous resistance, previous high price is the take profit to 131.10 and the previous support is the stop loss to 129.90
(A) the selling points is @ 129.75 based on Fibonacci 32.8%;last low price is the take profit to 128.95;Fibonacci 62.8% is the stop loss to 130.30
* Analysis is for information purposes only and does not constitute advice in any form.Trading in financial products carries a high degree of risk to your capital and it is possible to lose more than your initial investment.
City Finotec's professional analyst,
dealingdesk@finotec.com
Finotec Analysis Team 04 October 2010 print this articleBuy a break on the resistance level of 1.3800Sell a break on the support level at 1.3700Buy a pause at the resistance level of 1.3820Sell a break on the support level at 1.3650Sell a failure to break the resistance 1.3800
Basic
The euro fell from a six-month high against the dollar as the concern of the European Nations public debt reduced demand for the region's assets.The single currency fell against 13 of the 16 major counterparts after the Financial Times reported on Ireland's budget deficits this year will be higher than the previous forecast and Nobel Prize-winning economist Joseph Stiglitz said of the future "looking bleak."
Technical
Technical analysis shows the euro can continue its uptrend. We note the demand on the market by means of indicators such as MACD, which shows the strength of the market. RSI is in an uptrend. Bollinger provides an offensive signal by closing the candle above middle band.
EUR/USD (daily chart)
The primary trend break the trend line up.
EUR/USD (4-hour chart)
The couple would continue the great uptrend.
EUR/USD (per hour chart)
The less bounces on the standard error channel trend line.
Resistance
1.3800 1.3820
Support
1.3700 1.3650
Finotec Analysis Team 14 October 2010 Print this article GBP/JPY stabilized above 76.4% correction shown above once again, yet is providing clear negative Stochastic signals.If we assess the pair's general movement, the pair stabilized within the descending (lyrics) minor channel and declined two gain momentum bullish once again before returning to the upside.Stability above 130.45-130.50 will be enough to take the higher pair to test the 50 MA and the main resistance for a downside move.
(A) buying points is @ 130.50 Based on break of a previous resistance, previous high price is the take profit to 131.10 and the previous support is the stop loss to 129.90
(A) the selling points is @ 129.75 based on Fibonacci 32.8%;last low price is the take profit to 128.95;Fibonacci 62.8% is the stop loss to 130.30
* Analysis is for information purposes only and does not constitute advice in any form.Trading in financial products carries a high degree of risk to your capital and it is possible to lose more than your initial investment.
City Finotec's professional analyst,
dealingdesk@finotec.com
Finotec Analysis Team 04 October 2010 print this article The British pound ended the week almost unchanged as dovish comments from policy makers was offset by a brightening the Outlook for the global economy.BoE Member Adam Posen budgeted where his vote, may determine that there was a clear need for additional quantitative easing.The strength of the Chinese, and continued (albeit weaker) extensions in the United States and dk manufacturing sectors helped reverse growing pessimism on the back of the QE speech from policy makers. lack of conviction among bulls and bears could signal the potential for a turn of events, where the a catalyst was found on an economic docket full of event risk. BoE rate decision and U.S. non-farm payroll tax report both have the option to set the balance in the greenback's favor over the medium term.
Trading Tactics
A clear downtrend could be the opportunity to sell GBP/USD.
Point the buyer is on the 1.5860; former opposition is to take the profit on the 1.5940; Fibonacci 38.2% stop loss at 1.5800
Selling point is on the 1.5970;previous support is the take profit of 1.5700;Fibonacci 23.6% is the stop loss at 1.5896
Technical:Sterling provides a lower resistance and can continue the minor downtrend.A lower back move could configure a test of 1.5700
To strengthen our analysis; we use many other indicators, starting with the MACD (moving average convergence divergence); MACD crosses the signal line we note down. momentum and RSI (Relative Strength Index) is in a downtrend; stochastic is in an offensive way.
* Analysis is for information purposes only and does not constitute advice in any form. trading of financial products provides a high degree of risk to your capital and it is possible to lose more than your original investment.
By Finotecs professional analyst,
dealingdesk@finotec.com
GBP/USD (per hour chart)
