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…

Despite a deep pull-back on oil the larger trend remains down as recovery appears to be only in three waves, which ideally represents a black wave 4 that is part of a larger downtrend. As such, traders should be aware of a bearish reversal in this week, possibly from around 92.50 where we can see a very typical 38.2% retracement level of wave 3. Break of 90.75 swing would be the first evidence for weakness in black wave 5.

Oil 1h…

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…

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 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.

 …

China Slowing Down, Fear & Loathing in Europe



Prior to the London open, the China HSBC Flash Manufacturing came out worse than expectated, alarming investors globally since the motherland slowing down is a big concern as the weakening output affects all.  This initially sent the AUD and NZD lower but both recovered shortly after to hold modest gains throughout the day.

 

The situation did not get any better with German manufacturing also…

In conjunction with FXStreet, I am doing a webinar whereby you get to choose the topic!



Just go to the facebook page for the webinar here;

Chris Capre FXStreet.com Facebook Webinar Choose the Topic



Choose from any subject related to trading so make sure to cast your vote.



You have from May 28th to vote so make sure to do it soon.



The webinar will be on Thursday June 7th…

I am going to start this article with a question which could signify a major portion of your current level of success or failure in trading.

 

The question is;



Do you believe willpower (and specifically - your willpower) is a limited resource, and if so, what do you think it limits you to learn, achieve and accomplish?  

 

A follow up question to this is:



If you work on a difficult task,…

In one of my most recent webinars on price action forex trading, I talked about a key method for detecting when a trend is over-extended, which is to look for a climax or exhaustion reversal bar.  I had mentioned how from an order flow perspective why these exhaustion and climax bars tend to represent a high probability reversal coming based on the various…

Lately I have been spending a lot of time crunching data on some of the forex price action algorithms my programmer and I created, that the data can at times become overwhelming to digest.  In times like these, in needing a break, I often enjoy reading something completely unrelated to forex so I can engage other aspects of my brain.  Recently, the subject…

One of the more popular price action forex reversal patterns people trade today is the engulfing bar reversal pattern which is one of many two bar reversal patterns or AB reversal patterns (AB as in it has an A bar and B bar as part of the pattern) available.  Although this is a commonly traded pattern, many traders fail to find the best entry or are able to gauge a proper target using any…

Here is a collection of some of my students recent price action trades across EUR/USD, GBP/USD, Gold, AUD/USD, etc.  



All of these are trade setups from students in my price action course whom have been really turning it up lately finding some great setups.



The top winners of these are some nice 4 and 5+:1 R:R plays so congrats to all my students!



#1 Riga P.…

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:

http://fxbootcamp.com/live-forex-training/…

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:…

I want to share with you some results and tell me if you think these would be considered professional grade, or highly impressive to say the least;



110% gain for 2011

124 Trades, 74 winners, 50 Losses

59.67% Accuracy Rate

Largest Win: $14,360

Largest Loss: $8,180

Max Win = 43% larger than Max Loss

Max Consec. Wins: 16

Max…

Sometimes people shirk from the world of Penny Stocks, despite of the fact that it is a very profitable money earning prospect. Definitely it would be a challenge to know about what Penny Stocks to watch, for the new entrants in this game of money making. Nevertheless, as far as Hot Penny Stocks are concerned, it has great potential; although risks would be involved in Penny Stocks just like any other business. It is a matter of…

Today (21 Oct) I will be presenting "Tracking the Forex market together " webinars part I and part Ii explaining how to make trading decisions based on the market timings and levels using the live market quote page.I will also explain how hedging can be effectively used in uncertain market like this week.

If you are interested you may register for the webinars and follow my live trade calls in demo and find how positions can be effectively managed to eleminate risk and maximize the…

Overnight we have seen the Reserve Bank of Australia keep interest rates unchanged at 4.7% comments from the decision where the global economy continues to expand and that the current policy is appropriate. This saw some support for the US dollar early on Aud/$ off 80 points early on.

The UK saw the release of the…

Overview

As America inches towards a deal raising the debt ceiling, one wonders about the impending reaction of the foreign exchange market.  While domestic bond holders would see selling opportunities in the likely event that the Treasury drops its yields, foreign holders of U.S. debt would only see the downside – a weaker dollar.  In a…