Looking at the EUR vs CAD using the Ichimoku system we can see that price has bounced off of the bottom of the Kumo Cloud. The bottom of the cloud is resistance at the 1.32380 mark. Also we have Fib levels drawn in and the 50% retracement level is in confluence with the bottom of the cloud giving us even more reason to believe the resistance level will hold. The 100 period MA which is…

The last week on Cable was mostly on a side way .. although with a right trading strategy/methodology applied with/on SR levels could be very profitable. Look at this 4 SR levels and judge for yourself ..…

Looking at the chart above of the NZD vs USD on the daily time frame all we want to do is determine the sentiment of the market and trade in that direction. So if the market is bullish we'll go long and if the market is bearish we'll go short. How do we determine the sentiment you ask? Well if…

Traders it's been a while but hopefully I can remain active in posting to my blog. I am looking at the AUD vs USD on a daily chart above. Based off of the Ichimoku signals this is a bullish market and we can see that just basically by looking at the trend. No indicators needed to see that! It's been…

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…

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…

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…

I wont say much since I have already posted the start of this trade a few post back. So far the trade has moved 160 pips in my favor. Very close to being over extended as the 1 to 1 ratio is @ 80.880

The chart above is the daily and the chart below is the 4 hour time frame. Enjoy and…

Looking at the chart we can see price forming lower highs and higher lows inside of the triangle. This formation is known as a Descending triangle formation which is usually a bearish formation. Price is being compressed until it busts out of the formation usually to the downside in which case we will be looking for price to move to the 1.26575 area eventually forming a double bottom formation. From…

Following up on our trade idea with AUD vs JPY using the Ichimoku system we entered the market after the daily candle closed below the support level at 82.657 and we are profitable as the pair moved 106 pips in our favor today. Adjusting our profit target and looking at the colored zones we have the fib expansion levels. We are looking for the market to make a 1 to 1 ratio or…

Looking at the chart above we are doing our top down analysis to find a trade on the 4 hour time frame. Therefore we start with this daily time frame to get the market sentiment. The things that we will take notice is:

1. Price vs Kumo:

Price is inside the Kumo…

Looking at the chart above of the EUR vs USD I would like to show examples of trading the previous weeks high and low. We are using the 4 hour time frame. The shaded area within the chart is the activity within the trading week. The top of the shaded area is the previous…

Direct link: …

Back in 2008 I started speaking about evolving or dynamic support and resistance, both in the Ichimoku Cloud and in using moving averages.  I've been getting a lot of questions from my newer students lately about dynamic support and resistance so thought I would write an article about it here, what it represents and how you can use it in trading.



 

In essence, there really are two types of support and resistance levels (or…

The New York Session is just starting and we've already achieve the Average Daily Range for the EUR/USD.  Should we look for a pull back and short again?…

Traders no matter what system or indicator you are using, price action is King! I am a huge Ichimoku trader and find it very reliable but still you have to listen to what the market is telling you. Looking at the chart above I'll show you how the Ichimoku system said one thing and price action…

This is a repeat of a previous post I made but since I always show Ichimoku trades I wanted to keep traders informed and show what to look at with Ichimoku.

Ichimoku in Japanese means, "at one glance", Kinko means, "equilibrium" and Hyo means chart. For the untrained eye that doesn't know what to look for from the system the Ichimoku Kinko hyo looks like a bunch of cluttered lines. But for the Ichimoku technician it looks like a picturesque of beauty. What does the trained I see that…

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…

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…

Ok traders here’s my analysis of the EURUSD for 11/2/11. With so much major news coming out on Wednesday 11/2/11 for both pairs it really doesn’t make much sense to do any type of analysis because things can change depending on the results of the news. The major news for the EUR will be…