Impact of Scottish Independence Referendum on GBP

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Scotland will hold a referendum on whether it should be an independent country that will take place on Thursday September the 18th, 2014. Residents of Scotland will be able to vote yes or no on the question “should Scotland be an independent country?” If a […] Read more »

USDJPY Breaks 2014 High: Ready for 120?

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After a large consolidation (entire 2014), the USDJPY has posted several daily candles above the monthly top of 105.44. Certainly there were and are no hints of any apparent weakness during the breakout. From a previous article we already know that the USDJPY could offer a 1500 […] Read more »

USD Momentum Thrives & Silver Break to Decade Lows

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The U.S. Dollar strength is a development which the WET blog has been closely monitoring closely (click here for July article and here for January article of this year). Strong weekly candles tower above the consolidation (orange box) on the USD index chart. Is there […] Read more »

110 Day GBPAUD Bear Flag Broke: Now What?

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Although the GBPAUD daily breakout of the massive bear flag has been relatively slow and choppy, price still managed to fall 300 pips from the breakout point. Winners Edge Trading wrote about the break on August 19th (110 Day GBPAUD Bear Flag Breaking). Take a […] Read more »

Analysis of Major Pairs Over the Summer

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Although August turned into a bearish doji candle, overall the USDCAD still has a bullish market structure when looking at the long-term trend. Here are the main factors to consider: Uptrend trend line has acted as support (green line) Price has bounced off of broken […] Read more »

How to Trade Using Multiple Strategies

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A trading plan offers traders many choices and options, as discussed in previous articles. Here are the core elements each trading plan should incorporate: TOFTEM model Trade management Risk management Money Management Trading psychology And many more (read here about how to build a strategy) […] Read more »

Big Trend Warning on USD Part 2

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At the end of July we posted an article that warned for a potential big trend on the US Dollar (Big Trend Warning: the US Dollar Ready for Major Lift Off in 2nd half of 2014). Although more confirmation is certainly required, that forecast from a […] Read more »

1500 Pip Breakout Potential on USDJPY

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Not so long ago we wrote about how choppy the month of August usually is, and this year does not seem to be an exception to the rule. Today, however, an interesting breakout scenario has occurred on the USDJPY that certainly attracts our attention. A similar […] Read more »

110 Day GBPAUD Bear Flag Breaking

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The GBPAUD is in the process of continuing its downtrend which makes it an interesting candidate for today’s post. The GBP has been dropping steadily throughout the month of August (more info here) – and we can see the same pattern against the Australian Dollar. […] Read more »

Why Decision Spots Define the Forex Market

Decision spots or points are a great tool for all Forex traders because they provide solid entry and exit points. They also allow traders to understand the charts and technical analysis with more depth. Having an understanding of decision spots will also offer traders various […] Read more »

Analysis of the Yen: Opportunity for Trend Traders?

The Yen has marginally strengthened across all currency pairs, but the largest gains were posted against relatively weaker currencies this week such as the Swissy (CHF) and Loonie (CAD). Today’s post will review the CHFJPY and CADJPY and evaluate whether the downtrends provide an opportunity […] Read more »

Daily Analysis of EURUSD and GBPCAD

As some people in the banking world take a few days off to enjoy the summer (in the northern hemisphere), the market does continue to offer a few trends. An example of a strong trend has been the EURUSD: yesterday’s price action saw yet another […] Read more »

July Candles Show Pip Potential on GBPCHF and EURCAD

The Great British Pound has been in a grand and major uptrend for more than a year. But the Pound trend has recently been struggling with continuation. An example is the GBPUSD, but it is not the only pair with bearish price action. The GBPCHF […] Read more »

NZD and GBP Down Trends Ready For Trade Setup

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The GBPUSD closed the day on Monday with a decent sized bullish daily candle. Will this turn out to be a retracement for more downside or could traders expect a trend reversal? HOURLY FIBONACCI & S&R With the 4-hour DTT trend indicator marked as red, […] Read more »

A Review of July Trading and Major Currency Pairs

The trading of July is closed which poses a great opportunity to review the weekly and monthly charts. Getting a sense for the long-term direction is important to keep an eye on future trends. EURUSD The EURUSD monthly candle of July was very bearish. Here […] Read more »

Trade Details in EURCAD’s Massive Down Trend

Not many currency pairs are trending due to the usual quietness during the summer. Luckily there are usually a couple of exceptions to this rule; whereas other pairs are close to breaking into a direction. One of those pairs could be the EURCAD. HEAD & […] Read more »

EURAUD Flag & Trend: A “Simple” Target

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As all traders should know, the power of the trend is very mighty… And this force could be ready to be unleashed on the EURAUD! The EURAUD is known for its big trending movements… When this pair starts trending, then every trader wants to pay […] Read more »

2 Methods on Tackling Summer Trading in Forex

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Summer time is hitting the Forex markets fast and hard. Price movements are slowing down and chart patterns appear quicker than usual on the majority of the currency pairs – especially contracting triangles are popular. How can a trader tackle these chart pattern formations? Usually […] Read more »

Why Expectancy is Essential in Forex Trading

There is One Critical Metric that determines whether or not the system/strategy you’re trading is profitable or unprofitable: Expectancy. Expectancy tells you what you can expect to make in return for each trade you place in the market. If your expectancy is negative, it doesn’t […] Read more »