‘I do nothing upon myself, and yet I am my own executioner’ This quote by John Donne quite aptly captures the concept of self-sabotage. Self-sabotage may be defined as a destructive action which has the effects of undermining, or obstructing one’s own potential, or productivity. In most cases, the individual is completely unaware of his self-sabotaging behaviour. This is what gives it the potential to cause great harm. Self sabotage can be especially harmful and demoralizing for us as Forex traders. 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 »
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 »
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 »
EUR/CHF Swing Trade Opportunity
Two trade idea write ups in one night. That’s definitely a record for me. Just take a look at the weekly candle on the EUR/CHF chart below: Now if that isn’t a big honkin’ screaming bear, then I guess I’ve never seen one. Engulfs two prior candles and three-quarters of the one before that. And [...] Read more »
AUD/USD Long Term Swing Trade
Looking at a weekly chart of AUD/USD, you will see a very nice bearish engulfing candle. It has engulfed the prior two weeks’ candles almost completely. So I think this presents us with a very nice long term opportunity. Here’s the plan: I propose shorting a break of this candle and the psych level that’s [...] Read more »
A Perfect Summer Trading Strategy
During these summer months, we have experienced a lot of ranging in many currency pairs. Although my favourite trading methods involve trend trading, we have to take the trading opportunities that exist, or stand aside. Currently, my attention is drawn to Euraud once again. If you look at the 4hr chart below, you will notice the 200-pip range that the pair has been trading in since late July. This 4hr range is inside of a bigger one on the weekly timeframe. They share the same range support at 1.4340. Because of this, my preference is to buy at this support. However, the resistance is clearly identified at 1.4540, and so, a sell at this area is also valid, based on range-trading rules. Read more »
Gbpcad: Dead Horse, Or Cash Machine?
I am not one for beating a dead horse; except it is my opinion that this particular horse is far from dead. The prior Gbpcad buy setup pair paid off very well, extending beyond the 1.6320 target (http://www.winnersedgetrading.com/trading-opportunity/). However, that was only the tip of the iceberg, in my opinion. At the start of the bullish breakout of the weekly range, there was a pullback which appeared to be a very strong bearish move on the smaller timeframes. This was simply a minor correction of the previous range resistance on the weekly Read more »
EUR/CAD Swing Trade
EUR/CAD looks like a candidate for a swing trade. Wednesday, price dropped like a rock, closing in a very bearish candle. Yesterday's bar continued down, touched a prior key support level and bounced, creating a very nice bullish reversal piercing bar. Read more »
Gbpusd Technical Analysis
Bulls have been having quite a blast, buying the gbpusd. Since the start of the up move about eight weeks ago, there have been very shallow retracements evident on the daily timeframe. Now, over 1,500 pips later, the pair has run into an incredible shelf of past support, on the weekly timeframe. Looking at the weekly chart below, the red horizontal line marks the zone, at 1.5950. On the daily chart, is a single bearish candle that ominously points to possibilities of a reversal. Read more »