Yep, another day on the Aussie which happens to be one of my favorite pairs to trade daily. Yesterday I talked about how the impulsive price action selling on the pair, combined with a bearish engulfing bar, clued me into further selling for the pair.
As many of you know from my …Continue
Added by 2ndSkiesForex on August 15, 2012 at 10:33pm — No Comments
Sticking with the Aussie today, which I've been bearish on since Sunday - the pair sold off yesterday and formed a bottom off 1.0496 via an intraday pin bar setup. But notice how the reaction off said bottom was corrective while the selling price action was impulsive? This clued me into the fact the pullback was not heavily bought up by the institutions, and to look…
Added by 2ndSkiesForex on August 14, 2012 at 10:11pm — No Comments
After the massive losses in the Euro from mid-April to mid-July, the pair has been forming smaller price spreads (in the downtrend) while the bulls in the counter trend move are starting to out strike the bears. This to me is suggestive of an exhausted 3-mos down-move finding no new bears (at the moment). This has led to the bulls demonstrating some ability to take short term control as they continue to build higher lows and higher highs with greater…
Added by 2ndSkiesForex on August 12, 2012 at 10:14pm — No Comments
After forming an inverted pin bar on approach to .8000, the Kiwi followed with a large bearish engulfing bar giving a kiss off the round number, then selling off over 140pips for 8hrs straight. This single engulfing bar took out the last three days of gains, reminding us the downside still has far more teeth then the…
Added by 2ndSkiesForex on June 21, 2012 at 10:55pm — No Comments
The beast (otherwise known as the GBPJPY pair) has gained 10 out of the last 12 days communicating the bounce off the lows has some decent buying behind it. What is interesting to me from an Ichimoku perspective is how 3 of the last 8 days the dips touched to the pip the daily tenkan line, finding support there and closing higher off each…
Added by 2ndSkiesForex on June 19, 2012 at 10:34pm — No Comments
Instead of writing my usual post about trade setups, I thought I'd write something different for two reasons;
1) I really didn't like anything going into the Friday before the Greek elections which could get really ugly
2) I wouldn't want to be holding any Spot positions going into tomorrow's London session since the markets now rumor driven
So what I decided was to talk about an alternative to playing a spot position going into this…Continue
The EURJPY formed a potential pin bar reversal setup two days back and has been struggling to make new gains into the upper regions of the rejection failing twice to breach the dynamic resistance and 20ema along with the key role-reversal level at 100.50. Although overall short term momentum is up with the pair…
The Euro formed a pin bar rejection off the daily 20ema and dynamic resistance, also lining up with a key level at 1.2663 which was a former pivot point swing low and now formed resistance. Price action traders can watch for intraday moves up to 1.2623 and 1.2663 for fading any rallies targeting the big figure at…
***I am doing a Free webinar on The Trading Mindset this Thurs. at 14.00GMT so make sure to come.
After taking a drubbing for the first half of May, the EUR/GBP has been displaying price action characteristics of a bottoming as of late. First on the docket, it formed a HL (higher…
Added by 2ndSkiesForex on June 7, 2012 at 2:41am — No Comments
**I am doing a Free webinar on The Trading Mindset this Thurs. at 14.00GMT so make sure to come.
After rocketing up $72 from the dismal NFP number, gold has trotted in place for the last two days forming an ii pattern (or a double inside bar pattern). Although we are…
Added by 2ndSkiesForex on June 4, 2012 at 10:09pm — No Comments
The Euro shed about 300pips last week ending by forming a bullish engulfing bar off the 1.2300 figure. Although it has done this earlier during this one month sell-off and downtrend, we feel its possible this one has a little more chap in it being the record IMM shorts we have been talking about on this blog.…
EUR/JPY Prints 12 Year Lows...More Downside?
Selling off for 8 days in a row, the EURJPY has been getting pummeled by the Greek tragedy and the Pain in Spain, which now (the latter) seems to be taking center stage. We checked the data and 8 days is the max. consecutive selling days this pair has printed over the last 12 years. It has only done this (8 days of consecutive selling) 2x in history, today completing the 2nd…
Added by 2ndSkiesForex on May 31, 2012 at 11:44pm — No Comments
I am going to start this article talking about one of the most important things developing traders will need to know - that is to 'Know Thyself'. This recently came up for me as a newer student sent me a few emails which made me realize how important this is for anyone starting on the learning process, but hasn't found the right trading system to trade from every day.
2ndSkiesForex has been very active over the last few years in our philanthropy work, around helping with education in 2nd world countries and resources to 3rd world countries.
One organization I have been working with is Kiva.org which I have been a part of Kiva.org for over 3yrs now and have a few invites for anyone who is interested.
If you want to learn more, check out kiva.org or feel free to message me how this is a great vehicle for helping those in need.
Added by 2ndSkiesForex on August 30, 2011 at 10:58pm — No Comments
Added by 2ndSkiesForex on August 30, 2011 at 2:16am — No Comments
One of the most challenging frontiers for Forex traders has been interpreting …Continue
Does this make you appreciate the gents at Goldman Sachs even more?
This new blog will be a sharing of technical analysis via my price action, ichimoku and shadow sytems.
On top of this, I will also be sharing some interesting articles…
Added by 2ndSkiesForex on June 23, 2011 at 4:19pm — No Comments