Gold & Silver
Leave it to my good ol' friend the beard - Ben Bernanke....Central Printer in Chief who today went to the printing presses.
As expected, Gold and Silver pulled right back to role-reversal levels before shooting higher on the announcement today.
In the process, they both formed with…
Added by 2ndSkiesForex on September 13, 2012 at 10:18pm — No Comments
*I've been gone for 5 weeks on vacation but am now back writing from command central so expect articles daily from Sun-Thur from here on out along with bonus articles on Friday.
Since the 20th of June, the Aussie has been in an upward sloping channel which has been rather orderly making a touch on the top and then venturing to the bottom....until recently. Lately, it has been hanging around the upper band of this…
While my trading team and I are mostly on vacation for the month of July, I wanted to write a brief article giving 2 key clues to understanding support and resistance levels, which is also a follow up to my prior article the best support and resistance levels part 1. If you can learn to understand these two key points, you will be able to detect key levels, when…Continue
Added by 2ndSkiesForex on July 20, 2012 at 6:02pm — 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
Today I am going to give a lesson on how to find some of the best support and resistance levels in the market. If I had to say - I think there are three types which are the best support and resistance levels you could find. But it would take a long time to go into each type, what are the characteristics of each, what they mean from an order flow perspective, and how to trade each type.
So I am going to cover in today's lesson, what are some of the most critical variables to…Continue
Traders today I opened a long trade in the USDCHF on the 4 hour time frame. Since I'm trading the 4 hour time frame I like to get my market sentiment from the daily time frame which is the chart above. now looking at the chart from an Ichimoku perspective the sentiment of the pair is bullish with…Continue
For week end either way moves were seen after NFP and Fitch downgrades.
EURO and GBP were holding near the high set for the day before NFP. After positive
data they went up with the attribute –“risk appetite”. Later, a timely
announcement of Fitch downgrade made EURO and GBP drop more than the gains made
.Is Fitch downgrade is more influential data than NFP? Also
Fitch downgrade was pertaining to EURO, then why all other…Continue