Is There a Magic Formula To Forex Trading Success?

A plethora of articles and books have been written on what do in order to guarantee success in Forex trading. Here is my take on it: As a Forex beginner, make sure you educate yourself and get a good grasp of the basics of Forex trading; Educate yourself on different trading strategies, or methodologies. There is a learning curve involved, and everyone’s is different. Do not compare yourself to other traders. Do not rush the process. Read more »

Usdchf Trade Setup

As the usdchf currency pair holds above weekly support, it offers the potential of a profitable long trade. The daily timeframe, in what has appeared to be a major downtrend, broke the up trendline. At the moment it appears that a head and shoulders setup is underway. The left shoulder is at the 1.0850 level. This is marked by the green horizontal line on the chart below. If price were to test this area, I will be looking to short there. Read more »