Currently we are at 1.8696 after the break north of the bull flag. We are looking for a bullish continuation to the first wave resistance R6 @ 1.8730 and 2) the next target the 5.3rd wave R5 @ 1.8774. The average daily true range (ATR) for the pair currently is 188 pips.…Continue
Added by Scott Barkley on February 28, 2014 at 2:35pm — No Comments
Currently we are at 0.8963 attempting a break of the support. If we do break, we are looking for a bearish continuation to the 0.500 Fibo area @ 0.8896-0.8914. The average daily true range (ATR) for the pair currently is 84 pips.…Continue
Added by Scott Barkley on February 21, 2014 at 1:45pm — No Comments
Currently we are at 1.3696 in position for a fresh run at the top. We are looking for a bullish continuation to the resistance area @ 1.3740. The average daily true range (ATR) for the pair currently is 82 pips.…Continue
Added by Scott Barkley on February 14, 2014 at 2:30pm — No Comments
Currently we are at 91.17 in a nice bearish channel. We are looking for a continuation to the 1.270 Fib extension area @ 90.63. The average daily true range (ATR) for the pair currently is 92 pips.…Continue
Added by Scott Barkley on January 31, 2014 at 2:20pm — No Comments
Currently we are at 169.12 after the move back into the old downtrend. We are looking for a continuation to the double bottom area @ 168.65 The average daily true range (ATR) for the pair currently is 172 pips.…Continue
Added by Scott Barkley on January 24, 2014 at 2:35pm — No Comments
Currently we are at 1.3575 in a pennant. We are looking for a continuation to the S5/0.618 Fibo area @ 1.3521. The average daily true range (ATR) for the pair currently is 88 pips.…Continue
Added by Scott Barkley on January 17, 2014 at 1:49pm — No Comments
Post NFP- Negative effect ( watch the Whipsaws): Currently we are at 1.6481. This is a 2 part trade opportunity. 1) We are looking for a bullish continuation to the Resistance area @ 1.6516 and 2) the next target the 0.214 Fibo @ 1.6549. The average daily true range (ATR) for the pair currently is 102 pips.…Continue
Added by Scott Barkley on January 10, 2014 at 2:16pm — No Comments
The past few weeks trading has been a mixed bag, haven't managed to have anything stick so currently in no positions and playing the waiting game hoping for setups to fall in to my trading zones. Persistence is key for me right now. Stick to the strategy and setups will come.
If you would like more specifics about my strategy, click here to see my…Continue
In a previous live trading video, I received some feedback about why I put the buy and sell trading boxes where I did. To explain, I thought it a good idea to create an video on it to show the logic. It’s all to do with a combination of price action and fractals. Understanding the concepts of these are important to any trader, so if you are weak in this area take a look at this video where I…Continue
Added by Rob Helean on July 30, 2013 at 2:18pm — No Comments
Just to mix things up a bit, I decided to record and walk through my analysis and trade planning today. While the principles are fairly standard, I like to work on high levels of efficiency with my trading as you will see with my approach. In 10 minutes, it's basically done.
If you would like to keep receiving such videos, please let me know. I will follow-up with this video to show you the outcome.
I recently received a mail requesting I explain the improvements I made with my trading in the past 12 months. If you didn’t see it, I recently created a video to launch the NGFX Blog and stated in the video that I had learnt more in the past 12 months trading than I had in the past 5 years.
So what did I learn you might be thinking? Basically I approached trading from a completely…Continue
If you have struggles with trade management, take a look at this video where I cover off some high level ideas that you should consider and then provide a brief overview of how I currently manage trades.
I cover three things that are important, firstly the type of trade you are taking (e.g. scalp, spot, swing), whether you like to take profit proactively, or trail your stop, and how your personal emotions impact your trading.
If you can work and settle on these, you should go a…Continue
Thanks to everyone who sent in their feedback for trading blog topics. By far, trade entries were something that stood out, so this video provides you with some ideas and examples of trade entries and some changes you should consider.
Reading between the lines of all the messages we received, it looks like too much emphasis is been put on trade entry and not the real purpose of trading – making money. The more you focus on the latter, trade entries will become an easy obstacle to…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
After having its first weekly bearish close in six, the Euro ended the week posting an inverted pin bar that is also doubling as an inside bar. It has to be noted a bullish inverted pin bar in a bearish pullback is a failed attempt to rally. However, even though the rally failed, it indicates there is some buying…
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
As we wrote about in our forex market commentary yesterday, the AUDUSD formed both a pin bar and dueling swords pattern, initially rejecting off of parity. The markets gapped higher on the open from the Spanish Bank bailout of €100B, which has already seen its luster come off. Is it now to the point that €100B…
Added by 2ndSkiesForex on June 11, 2012 at 11:00pm — No Comments
Spain, Greece and the Horror with No End...For Now
Although markets were calm today from the US Memorial Holiday, Spain today asked the EU to act in providing support for fiscally frail gov'ts (read 'Spain is begging for help') as its fiscal gaps and banking system (but, but...Bankia is fully solvent you said) are getting pummeled with soaring yields which are punishing the rates on bonds. Again, Spain is 4x larger than Greece so if Spain…
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…Continue
Added by 2ndSkiesForex on May 24, 2012 at 11:00pm — No Comments