Winners Edge Trading wants to introduce another service for Forex traders, Trade 77. Read more »
Its going up, why are you shorting it?
Shorting euphoria. Why should we do this? I am often asked in the trading room why I am shorting something that is spiking "to the moon". I have to re-explain it every time. Read more »
More Trading Opportunities on Gbpchf
The Gbpchf currency pair is in the buy zone on a 4hr chart, where it is attempting a reversal. The chart below shows an inverse head and shoulders pattern. In this context, it is very likely for the pair to test 1.6135. However, just above this level is daily resistance. After the bearish breakout of a major trading range, the down move found support at weekly lows, but has so far been unable to break above 1.6250. I am very bearish on this pair, and am looking for an entry to short. A failure of the 4hr bullish reversal will give me the opportunity to position short to target the next weekly support at 1.5250. Read more »
Audusd Trading Potential
Audusd has been very bullish. The most recent leg of the bullish leg sees it testing resistance at .8750. Traders considering shorts on this currency pair should proceed with caution. In reference to the monthly chart below, the strong bullish momentum could take it further up for a retest of the June high at the .8870 level. Having said this, I am also looking for a trading opportunity on this pair, and since it is now testing resistance, the logical trade setup to be looking for is a sell. However, I am standing aside for a possible continuation in the rally to the area specified. At the same time, I will be watching for reversal signals on the smaller timeframes. My advice regarding trading this is to wait for proper confirmation before shorting. Read more »
Why Do Many Currency Traders Lose Money Trading The 1 And 5 Minute Charts?
Forex traders will use a wide variety of different price charts when trading the various currency pairs. Some will prefer taking a long-term view, some will trade the 1 hour or 4 hour charts, whilst others will trade the short-term charts such as the 1 and 5 minute charts, and it's these I want to focus on in this article. 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 »