This post is a heads up to be watching the Eur/Usd because the pair made a significant drop down early in the week and since then has been consolidating. The price has been in a tight range and the range is getting smaller indicating that a breakout should occur soon. It is possible that the pair could break out in the upcoming Asian, Europe or New York sessions before the end of the week. Read more »
Eur/Usd: Possible Move To 1.4626 Ahead
The pair has been trending down since the surprising NFP news released last Friday. Today's trading is in a bit of consolidation and we have hit a shelf or bear flag forming with a possible break to the downside. The target that should be in place is 1.4626 because that is the next key support level that was met on October 2. If we break down below that point we could be in a stronger dollar bullish scenario. Read more »
Is Trading Gambling?
If you are going to be successful in trading there is one thing that is essential for you to get absolutely clear and if you do not you will face trouble. Trading is NOT “gambling”! Read more »
Profiting From A Price Action Study – Part 2
Continuing on with our price action study, in this article we'll put together a plan for analyzing a particular currency pair, on a particular time frame, and see if we can work out a way to get some probabilities on price continuation... Read more »
Eur/Usd: Why I Think It Will Move Down From Here
The Eur/Usd made a bearish move on Friday on positive news released on the U.S. Economy. This article is purely speculation based on my technical analysis. This point of my opinion only and you have the right to disagree. The first signal to me is the long bearish bar on the daily charts. That bar indicates to me that there was a massive selling and that could be an indication of additional selling. The price broke past all the previous lows of that pair for the last few days. Read more »
Trading Mirrors Life
What is the most important tool in trading? Often I ask traders this question and the responses I get are varied from winning strategy, or the right charting system. Sometimes sharp traders will answer by saying money management or discipline. I have even been told by one expert that said experience is the most important for a successful trader. All of those things are an important part in a traders journey to profitability and becoming a professional trader but they are not the most important tool. Read more »
Eur/Usd: Postive Dollar News Sends Euro Crashing – Creates and New Trading Opportunity
Today, when the news for the Non Farm Payrolls came out, the Dollar took off for major gains and never looked back. The number posted was that U.S. Economy only lost 11,000 jobs. This is big news because the number was supposed to be - 119k so that means that the estimate was 108,000 off. The price reacted suddenly and violently and we had almost a 200 pip move to the downside today. I will give a detailed trade idea at the bottom of this chart. Read more »
Eur/Usd: Has Been Secured In A Range
The Eur/Usd has once again found itself inside of a trading range that can be used to gain some good profits for trading. The support of the range finds the support at 1.5032 so I would look for this price to challenge anywhere as low as 1.5000. The resistance of this pair is at 1.5117 and the ceiling here could be anywhere from 1.5100 to 1.5125. As long as the prices stay within this price range I would look to sell near the resistance and buy near the support. The best time to buy and sell is off of a bounce off of these levels. Read more »
Swing Trade Idea
Good day fellow traders, Here is a great swing trade idea that will be posted today in our new trading room. It is a short entry on the GBP/Usd based upon a daily wave correction. We currently have a lot of resistance at these levels because of trend lines, and daily support that was broken and is now being retested. Take a look at this daily chart: Read more »
Just Plain Good Advice
Hello fellow traders. What an interesting last few days I have had! Life is a learning experience isn't it? Well, I have learned some things and also have confirmed many things I already knew and just thought I would share this with you. The key I think here is redundancy and backup plans. Read more »
