“I’ve failed over and over and over again in my life and that is why I succeed.” – Michael Jordan
June 3rd 2014. I spoke a week or so ago about the fact that we had been seeing better data recently from the US and that there seemed to have been a shift where markets are…Continue
Added by Gary on June 3, 2014 at 9:03am — No Comments
“There is only one side of the market and it is not the bull side or the bear side, but the right side.” -Jesse Livermore
June 2nd 2014. Now that we are into June we have a new monthly candle for EURUSD. May’s candle was both an outside candle and a bearish one,…Continue
Added by Gary on June 2, 2014 at 7:25am — No Comments
“I think to be in the upper echelon of successful traders requires an innate skill, a gift. It`s just like being a great violinist. But to be a competent trader and make money is a skill you can learn”. Michael Marcus – Trader
May 30th 2014. So I think it…Continue
Added by Gary on May 30, 2014 at 10:55am — No Comments
“October: This is one of the peculiarly dangerous months to speculate in stocks.” – Mark Twain
May 29th 2014. Yesterday s strong dollar caused some interesting action. Pretty much as I predicted Kiwi broke weekly key support at 0.8515.…Continue
Added by Gary on May 29, 2014 at 9:12am — No Comments
“Being ignorant is not so much a shame as being unwilling to learn” – Benjamin Franklin
May 28th 2014. Looking at Kiwi we have been holding frustratingly higher but in the past day or so getting quite close to key weekly support at 0.8515. I am…Continue
Added by Gary on May 28, 2014 at 9:05am — No Comments
May 27th 2014. Post holidays I see that some of the currencies that suffered against the dollar last week have caught something of a bid. My pal AUDUSD is higher and I will be looking for opportunities to fade this today (I’ve already done it once this morning). Also yesterday’s outside day in USDCHF is notable because daily studies have it overbought at this point. If it puts in lower low today and I may give consideration to selling this short too. We have Swiss…Continue
Added by Gary on May 27, 2014 at 9:44am — No Comments
"No problem can be solved until it is reduced to some simple form. The changing of a vague difficulty into a specific, concrete form is a very essential element in thinking" - JP Morgan
May 26th 2014. The Australian Dollar fell by the most in four months last week after dovish…Continue
Added by Gary on May 26, 2014 at 6:52am — No Comments
“I work my whole life, I don’t apologize, to take care of my family. And I refused to be a fool dancing on the strings held by all of those big shots. That’s my life, I don’t apologize for that.” The Godfather 1972.
May 22nd 2014. I want to take some stock of where we are…Continue
Added by Gary on May 22, 2014 at 6:56am — No Comments
“You are never immune to bad trading habits – the best you can do is keep them latent. As soon as you get lazy or sloppy they will return.” Jack Schwager – Author of Market Wizards
May 21st 2014. After a prolonged period where we have traded sideways and…Continue
Added by Gary on May 21, 2014 at 10:21am — No Comments
The AUDUSD continued its bullish momentum 2 weeks ago , printed support at the 9251 levels . This development leaves the pair targeting the 0.9460 levels where a breach will turn focus on the 0.9590 levels , further upside will aim the 0.9850 levels.
On the downside , support comes at the 0.9316 levels ahead of 0.9251 ( main) , stability above support levels will keep the bullish momentum intact , however ; sustained trading – weekly closing – below 0.9251 will turn outlook neutral…Continue
Added by Haitham653 on May 19, 2014 at 6:21am — No Comments
“There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion, solidly build into human nature, that…Continue
Added by Gary on May 14, 2014 at 4:39pm — No Comments
“Trading is a business and all successful businesses need a business plan to guide decisions and operations” Peter Brandt, commodities and forex trader.
The Australian budget will be released this morning so watch out for volatility. Joe Hockey’s first budget will lay out…Continue
Added by Gary on May 13, 2014 at 9:40am — No Comments
Currently we are at 0.9371.We are looking for a continuation to the R4 area/1.270 Fibo @ 0.9436 AFTER the break of the bull flag. The average daily true range (ATR) for the pair currently is 63 pips.
Added by Scott Barkley on May 9, 2014 at 11:23am — No Comments
"We choose to go to the Moon in this decade, and do the other things, not because they are easy, but because they are hard" JFK, Rice University. September 12th 1962.
May 7th. Yesterday was quite satisfying. Equity markets are back under pressure…Continue
Added by Gary on May 7, 2014 at 8:20am — No Comments
“Victorious warriors win first and then go to war, while defeated warriors go to war first, and then seek to win”. Sun Tzu, The Art of War
May 6th 2014. I would say SPX 1800, USD/JPY 100.75 and EUR/CHF 1.2100 are those major areas you want to pay…Continue
Added by Gary on May 6, 2014 at 9:24am — No Comments
May 5th 2014. Good morning. So this week we have rate decisions from the UK and Australia, with the latter getting more attention. In Australia we also get employment data and in New Zealand the employment data is quarterly. I find AUDUSD very compelling as a short trade on a longer term perspective and will be watching the rate decision keenly. I am short.
The April US Nonfarm Payrolls report was surprising in several regards – both good and bad. The two main headline…Continue
Added by Gary on May 5, 2014 at 12:20pm — No Comments
“Victorious warriors win first and then go to war, while defeated warriors go to war first, and then seek to win”. Sun Tzu, The Art of War.
May 2nd. The market is exceptionally quiet and no doubt there is an increase in volatility around the corner but until then it is…Continue
Added by Gary on May 2, 2014 at 10:45am — No Comments
"When offered quick profits, respond with a quick no". - Warren Buffett.
April 29th. Later this week we have a lot of key economic data for the US Dollar which has been searching for a bottom of late. While we may not find the bottom for the US Dollar and…Continue
Added by Gary on April 29, 2014 at 9:18am — No Comments
Outlook in AUDUSD remains neutral with risk to the downside towards the 0.9137 levels , a break would open 0.8995 next . At this point I’d expect strong support from 0.8995/0.9137 levels to contain fall from 0.9460 levels and bring reversal , below 00.8995 will pave the way towards the 0.8889 levels before the next possible rise.
On the upside , resistance comes at the 0.9377 levels ahead of 0.9447 ( main) , stability below resistance levels will keep the pair under pressure , however…Continue
“The composite profile of a losing trader would be someone who is highly stressed and has little protection from stress, has a negative outlook on life and expects the worst, has a lot of conflict in his/her personality, and blames others when things go wrong. Such a person would not have a set of…Continue
Added by Gary on April 24, 2014 at 8:56am — No Comments