The pair is in a long up trend and has recently broken a trendline to indicate that a new trend could possible be developing. Of course there is always a resistance level here or a support level there that can stop the progress. This is no different today as the upwards movement on the Pound Dollar will be challenged at the 1.6470 level. If the pair can break through that level we can expect this current upward trend to continue. Read more »
Sell Signal On GBP/JPY: Target 1000 Pips Profit
The Pound was on a tear last week and the price gained rapidly over 700 pips in a 3 day period. All I can say about that is wow. I wish I would have had that trade going. Well say no more. The pair has stalled and it has shown some reversal candle signals and now we are waiting to go short and what is our price target? Read more »
Completing The Fractal-Based Trailing Stop Logic
In this article we will complete the pseudo-code logic behind our fractal-based trailing stop. Previously (see this article: http://www.winnersedgetrading.com/trade-of-the-day/defining-our-fractal-based-trailing-stop-ea), we explored how a fractal point itself could be defined in pseudo-code and we also defined some variables that would remember where our last fractal points were. In addition, we created some pseudo-code logic to tell us where the trailing stop would go. Read more »
Trend Line Drawing With Fractals
While on the topic of fractals, here's another great use for them: drawing trend lines! Trend lines are a very important part of technical analysis, in fact, they're probably the one thing you need to get right before you move onto more advanced forms of technical analysis. Trend lines can be drawn in lots of different ways, but I'll explain in this article and video how to draw basic uptrend and downtrend lines using fractal points. Trend lines are great for identifying breakouts and therefore, possible trade entry points... Read more »
Eur/Jpy: Testing Downward Trend Wall On 4hr Chart
The Eur/Jpy is testing a downward trend wall on the 4hr chart and that could be significant change in trend as the overall trend has been bearish for quite a while. I am expecting this price to bounce off of this wall and we will see more losses in this pair. Read more »
Eur/Usd Moved to New Highs – Next 1.5000
The high on the Eur/Usd today was 1.4876 which took out the high of 1.4844 on September 22, 2009. The pair has been moving towards the important level of 1.5000 which seems that the Eur/Usd is bound and determined to hit in the near future. The pair has been making new highs over the past month and this trend is likely to continue as long as the Dollar continues to drop as it has been. Read more »
Product Review: JCL’s Forex
Traders I am pleased to do a product review that is one of the best trading systems I have ever reviewed. I want to start off by stating that I do not receive any proceeds from writing this article. Read more »
Eur/Usd: Dollar Gained Strength On Friday
In trading on Friday the Eur/Usd didn't make it to the previous high of 1.4842 instead it turned at 1.4818 and went south rather quickly. That indicates to me that the Dollar could make a comeback over the next week. Read more »
More Fractal Examples and Casey’s Call On The GBP/USD
First of all: Casey made a great call on the double-top reversal of the GBP/USD today. The move is not over yet, the bear is still jumping out of the window (so to speak), and we expect it to move somewhat lower yet. This move is another great example of identifying and using fractals, so that is what this article will concentrate on... Read more »
GBP/USD: Approaching Double Top
I normally write about the Eur/Usd but here is a great opportunity that I could not pass up sharing with you all. There is a double top chart pattern forming. Read more »