Hello Traders, I have been so happy to hear some good trading stories lately. I was posting many disaster stories to show you how serious trading is. Now I am going to be doing a series of positive stories to encourage you. So starting soon we will be seeing how people have over come themselves [...] Read more »
What Made Me A Profitable Trader
I got an email from a trader who experienced much of what I've experienced in my journey to become a profitable trader. It was nice to be able to share some of these points with him. I hope this will help some other traders who are having similar problems. Read more »
A Technical Analysis & Trading Opportunity
Eurcad currently has a possible buying opportunity on the 4hr chart. The weekly timeframe has been trading in a range, and for the past five weeks, has been respecting the 1.3265 support. The 4hr chart below shows a break above an inner trendline, and what appears to be an attempt at a retest. The .618% Fibonacci retracement level of the 1.3150/1.3379 swing comes in at 1.3237, which is also approximately where the trendline would offer support as it moves down. There is also the left shoulder of a possible inverse head and shoulder formation at the same level. Read more »
EUR/USD Trade Idea
EUR/USD is presenting us what looks like a great opportunity to get short with a possible 3:1 or 4:1 Reward:Risk ratio. I like those odds. Read more »
Are You A Bull Or A Bear?
Regular readers of this blog will probably have realized by now that the Gbpcad currency pair is one of my favorites. It is a volatile pair, but a good trade entry will result in extended runs most of the time. During the coming week, I will be focusing quite a bit on it, because I believe that some big moves will be coming up. A valid case can be made for both bearish and bullish developments from here. I will examine the possibilities for both: Read more »
AUD/CAD Swing Trade
Hi fellow traders! I'm looking at a very nice swing short on the AUD/CAD this morning. Lots of reversal confirmation and a nice 2:1 minimum RR. Read more »
Eur/Usd: Drops Below Support More Losses Ahead
I posted that there was a weekly bearish bar on the Eur/Usd Read more »
Gbpaud Technical Analysis Update
Two days ago we bought the Gbpaud, based on a 4-hr range setup. Some softer-than-expected news saw it plunge over a hundred pips below the range support, before bouncing back almost as fast. Currently, the pair is back inside the range, but is seeing some resistance from the before-mentioned rising trendline from 1.6215. It is interesting to note that after hitting this line, it did form a nice set of tweezer bottoms on the hourly chart. It is a good idea for anyone currently holding longs to take some profit in this area, while anticipating a continued move towards the range resistance at 1.7520. Read more »
Foundations of Forex Success
have an important email that I just received about video #1 and I felt like I had to write a post about this email. I am not going to post the whole email. The email was basically about a family man that Read more »
200 Pips Up For Grabs!: Technical Analysis & Trade Setup
Gbpaud has been confined to a 4-hour trading range for the past three weeks. During this time it has offered some very profitable trading opportunities. We sold the range resistance in the trading room and rode it down from 1.7515 to 1.7340. Currently, the pair is again close to the range support, which is at 1.7280. You will note that on the chart below, there is a rising trendline that extends from the 1.6215 low. This line cuts across the range, and so is likely to offer support at 50 pips above the range support. Although it could bounce and turn around at this level, I will not buy here, because I would be risking too much, since my stop loss will go below the actual range. Read more »