1- Those are strong support and resistance levels during the suggested week.
2- Don't enter trades at these levels blindly!
3- Recommended time frame: Intraday time frame, 1 hour and below.
4- R means Resistance : If market reaches these…Continue
Finally, ECB left with no choice and had to slash its rates by 50 basis point. I had already mentioned in my weekly (Monday) outlook note that price stability is the key responsibility…Continue
Added by asad rizvi on May 3, 2013 at 8:12am — No Comments
Bank of Tokyo-Mitsubishi - "The pound has rebounded modestly over the past week with GBP/USD rising from an intra-day low of 1.4832, and EUR/GBP declining from an intra-day high of 0.8794 both recorded on the 12th March. The pound’s recent rebound follows heavy selling during early 2013 which has resulted in the BoE’s nominal trade-weighted pound index declining by just over 5.0% reaching its lowest level since the middle of 2011.
The pound has found support in the near-term from both a…
Added by Francesc Riverola on March 21, 2013 at 3:26pm — No Comments
EURUSD bounced sharply from 1.3000 psychological level at the start of January which was most-likely low of a red wave 2). Notice that bounce from 1.3 is very strong which typical represents third wave of a five wave Elliott Wave model. As such, we suspect that pair is at the start of a red wave 3) within an impulsive wave (C) that may reach even 1.4000 target in 2013. With that said we will continue to look higher as long as market trades above rising channel line from November lows and…Continue
Added by Gregor Horvat on January 20, 2013 at 10:08am — No Comments
Hundreds of newbie traders enter the Forex market daily with hopes of gaining fast money after seeing brokers' Ads.
Find out today from what countries the majority of traders come, what currencies they trade, what brokerages they use and what main mistakes commit.
The exchange rate between Europe's single currency and the American currency has traditionally garnered the lion's share of attention from forex traders and media alike. The euro and the US dollar represent the two most traded currencies in the foreign exchange market. The Trade of the Week (TOTW) focuses on the recent change in the euro's value against the fourth most traded currency in the FX market.
The chart below shows approximately…Continue
Added by Curt Wehrley on August 12, 2012 at 9:56pm — No Comments
Important discourses from the North American central banks are expected to lift market volatility today, where the Canadian dollar is anticipated to gain opposite the US currency. The Bank of Canada is scheduled to release the nation’s Interest Rate Statement today, while US Federal Reserve Chairman Ben Bernanke is due to testify before the Senate Banking Committee in Washington DC.
Taking hints from equity price movements…
Added by Aviv Shapiro on July 17, 2012 at 9:42am — No Comments
Often times, we measure our success as a trader by our account value, whether it has grown, perhaps doubled in size, or whether we have lost and are under water. Unfortunately, this is really a myopic way of measuring our success in trading. If this was the true benchmark, then for my first 6 mos of trading, I must have been a rock star turning 3k into 83k. How did I do it? Over-leveraging to the hilt and having the most unbridled approach to the markets. If you measured success by my…Continue
Tons of Aussie News in Today's Asian Trading Session. I forgot to post a reminder to attend the open webinar, but you can still review the video while its still fresh:Continue
Added by FX BOOTCAMP on February 22, 2012 at 12:49am — No Comments
Lots of whipsaw action today in the currency markets. Today in the European session I'll looking at "risk on" and "commodity" currencies. You can see here on the 3 min chart that I started Asia ok, but I'm back near breakeven. Hope is NOT a strategy, but praying never hurts.
Join me for the European Open:…Continue
Added by FX BOOTCAMP on February 21, 2012 at 6:20am — No Comments
This is the second part to our last article on Awareness, Negative Habits and Concentration in Trading. It is designed to help you remove any limiting/negative beliefs which may be holding you back, while building a successful trading mentality.
In the beginning of our…Continue
While we have all be shorting the Eur/Usd for weeks, this week we expected a return to some Fibonacci pullback zones to begin, the first of which being back to the Daily 5ema (also 38.2 fib pullback of the last 4hour swing). In this video I layout what we were waiting for just after the London market open as our first clue to take the scalp long, along with how we determined target, stop/risk, and ultimately what caused the trigger to be pulled. This was only intended to be a scalp long with…Continue
Added by FX BOOTCAMP on January 10, 2012 at 12:29pm — No Comments
Last week I taught a highly viewed webinar on Risk Management with fxstreet whereby we went over one of the most critical models for managing risk along with a unique model to get you thinking about managing risk in a different way.
To learn more, click on the link…
Added by 2ndSkiesForex on December 18, 2011 at 10:25pm — No Comments
In 2009, Gary Kasparov, one of the world's greatest chess players of all time (now retired from competitive chess), played what is a called a simul game exhibition. In this exhibition, he played 25 simultaneous games against some of the top local talent all that the same time. The opposing players had as much time as they wanted to think about their moves while Gary had only about 5 seconds (max 30) per table to make his move. Below are the results of this…Continue
We have been getting a lot of questions from newer traders to price action on what is price action and how can one do price action trading. What we are going to cover is the traditional definition of price action, how we approach it differently than others, and how can one trade price action in the forex market.
Just a few days ago, I was talking to someone named Marshall. His dad is the head of a major investment firm which manages over $1Billion. We are in talks with his fathers firm about investing with our fund and Marshall was the first person we were talking to. We got into a really good conversation about the psychology of risk and some great things came out of the conversation. But first, we are going to start with a question;
Have you ever heard of a hedge…Continue
Check out www.thebinaryoption.com for http://www.thebinaryoption.com/2011/11/18/pictorial-explanation-of-bullish-technical-support-for-eurusd-going-forward/ and previous recent articles explaining why you should be expecting the EUR/USD to climb a wall of worry and mount a bullish risk rally now through Christmas, at…Continue
After ranging for what seemed an eternity this week on the extremely weak Eur/Usd, Aud/Usd and others, we finally started showing some signs today, beginning in Asia of a breakout pullback of the overall drop about to ensue. In this video I show 100% how we set-up, and executed this live trade in the London session real-time, for a relatively painless 50+ pips depending on entry. We also had an even better reload after this entry I on the eur/usd & aud/usd that once I was done this…Continue