For a change today I thought I would tackle the EU differently - and show how in the dynamic market place how the price bias can keep changing throughout the main two sessions - Europe and US.
As you would expect from a high of yesterday at 1.2956 - price dropped through the end of the US session and into the early Asian session - finding a low of 2904 - range 52 pips.
Since then and over the last 6 hrs price rose back up to 2943.- 41 pips From London…Continue
The chart above is a 3 minute over 3 days on the EJ. As I am sure you know - I am mainly a scalper and so you would expect to see me on the small frames - but I think its important to point out - that every week - I do look at my monthly / weekly charts and most days will have brief look at the "history channel" - ie…Continue
Today is a Monday made worst by the many Bank Holidays in Europe and also I believe in Canada
Mondays are normally slow ( not always though - as the market like to catch traders out when it can ;-0 ) - and so we expect movements at the London Open - but since then it's hardly been a morning…Continue
As you can see the Swissy as dropped so far approx 50 -60 pips and the EU as risen approx 35+ pips.
Today they have a correlation - but normally I am not into any market correlations - simply because the players being the players know the…Continue
The chart shown is a 4 min frame of the EJ. Its shows the resistance area - with a Linear regression indicator over price yesterday and this morning - indicating price should pull back or retrace - due to being OB. If I showed you the EU same chart - we have a OS situation with price wanting to retrace back…Continue
1.First of all - performance - 13 trades - all entered within 8 mins in total - so he must have been doing his analysis before he entered and thought about…Continue
Two charts - a EU Tick Chart for a scalp buy at 7.00am UK time and the European Open - and EU one minute chart -…Continue
EU chart update prior to London Open
I have ringed an initial support area - as EU is presently in a down…Continue
Some different chart set ups approx 1 hr after London Open. The red line is a Linear regression at a setting between 700 - 800 ( differs according to charts). Over price - price should fall - under price - price should rise Very simple for bias - but less than one tenth of the clues I need for intraday trading these pairs - …Continue
Its a Friday again - favourite day of the week for many - and today will look at the EJ along with the EU.
Time now is 4 minutes past London Open - and both pairs have been falling over the last few hours
The EJ is trying down to 130.00 and the EU testing under 3090.
I will get some charts posted during the next 30 minutes and look forward to all input and comments etc- ideally on trades that will conclude within an hour - or at least within the…Continue
Most Forex traders understand that the majority of their indicators connected to their charts are actually “lagging indicators” and because they are related to were price as been are therefore working in the past and not really predicting the future.
The classic lagging indicator set up would be a 4 hr or daily chart with candles and moving averages on along with say a MACD and a zig –zag and a normal oscillator.
For a start you could say it is at…Continue
Chart above is the GU - 3 min on a Daily - and it is basically saying SELL. However before finding an entry point - I need to check on other time frames. - and what do I see on a 5 mins and a 15 min -…Continue
This chart is a EU - 2 mins on a 4 Hr split.
We have had the European and London Opens and in between the EU bottomed for now at 2967 and then started to rise.
Approx 2 hrs later price as reached 3018 and is still trying higher.
I have marked the main Resistance areas above…Continue
Its the first Friday of the month and NFP day - a trading day not normally for the "feint hearted" or for the newer trader who might be worried about being whipsawed in the additional volatility.
To make it even more interesting - yesterday - we saw the effects of the BOJ on the Yen…Continue
We are approximately 5 mins to the European Open at 7am UK time and one hr prior to London - as I type
For a start lets look at the present position along with some technical logic on what might happen over the Opens and later on today. We are all aware of the Cyprus concern - which really can be used either way if need be - that up to the players - as they obviously know more than us - and probably have some more information " up their sleave" to then move price…Continue
Last trading day for me before a couple of Holiday breaks over the next three weeks and although I will have a laptop or tablet - I just won't be focused for scalping and will miss the multi monitors and all the info I need - (as I am far away from a "Kiss" type trader ;-) )
Today I thought I would cover the normal key pairs plus the odd yen crosses - looking for a few nice scalps / short term trades that ideally last under half an hour - although we can leave part…Continue
This is a 20 min candle chart on a daily bar. Since Friday we have been in 2 "inside bar or candle" days as price as not broken the high of Friday - at 3134 or the low of Friday at 2954 - a range of 180 pips.
We have 2 present patterns - a HL's and HH's over last 2 days - but within the range - and a reverse…Continue
Westpac Bank made the following trade recommendation the other day – as informed to us by Francesc in a blog - http://www.forexstreet.net/profiles/blogs/westpac-trade-recommendation-short-eur-usd?xg_source=activity
I was immediately drawn to it as a “typical” investors trade – fairly inefficient – but looked upon as fairly safe and risk free. Nothing against…Continue
Its Freaky Friday and its NFP news in less then 30 mins - and although I don't normally trade this news live - due to the spikes and lags in getting price on live accounts and the love of my brokers keeping me in for at least 3 minutes - I will guide you on what might be happening purely from technicals and then what directions to take afterwards and into the US session.
Unfortunately I cannot do this on 4 pairs at the same time - so will do the EU - as its the…Continue
Sometimes a picture can say more than a 1000 words
This is the EU chart - a 2 min on a one hr split - and for the last 10 hrs you should have been buying - yes buying.
Will we be buying all day ? Have not got a clue atm - but tend to think not as there will be opportunties to scalp…Continue