FOREXSTREET.NET WEEKLY NEWSLETTER

1. Six Forex Lessons by David Pegler
David Pegler is a member of our community and a Currency Coach at FxBootcamp.com and was a claimed guest speaker at the latest FXstreet.com International Traders Conference held in June 2012 in Barcelona. Do not miss this opportunity to learn with a top educator:

Forex Price Action Lesson #6 - Stochastics
Forex Price Action Lesson #5 - Support and Resistance
Forex Price Action Lesson #4 - Pivot Points
Forex Price Action Lesson #3 - Fibs and Fractals, enjoy!
Forex Price Action Lesson #2 - Market Fractals
Forex Price Action Lesson #1 - The Basics

2. The Most Popular Community Members of the Week:

#1 Vladimir Mihaylov
#2 Haitham653
#3 Peter jcp
#4 Brian Twomey
#5 Georgi Vukov

3. Rookie's Members Worth to Highlight

#1 Haji Warithu: EURUSD: Short Term Income
#2 Igor Titara: Coffee with EURJPY

4. Some Nice Reads To Think and Learn

#1 Just what are you all doing?? by Peter jcp
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-recommendat...
I was immediately drawn to it as a “typical” investors trade – fairly inefficient – but looked upon as fairly safe and risk free. Nothing against Westpac – as far as I am concerned – they are as good as any bank.
I then looked at it further and thought – its not even that risk averse and if anything for me – not the type of trade I would encourage other retail traders to take.
In summary – its below average and as we might say in the UK fairly “naff”. Why you might ask have I the audacity to take on a major Australian Bank who employ top professionals and criticise them and all their trades inefficient and “naff”.??

#2. Advice Or Add Vice by Sir Gissachance
Lets take a quick look and together question the words Advice/Add Vice and what they involve:
Listening to the first random person who is prepared to talk to you and taking their words of wisdom literally?
Looking for the most expensive advice money can buy?
Follow a Guru because everyone else did?
Follow the advice from anyone or anything which is current and popular?
Read a foot note from a random forum?
Advice from reading a popular newspaper book or downloading a course and following it straight away?

#3. Can a dynamic trend line turn from resistance to support? by Oasis
Please see EURJPY 4 hour chart attached. I have never seen before a trendline changing from resistance to support. If this continues to hold then we also have transitioned from a (mini) down to an uptrend.

5. Most Popular Chart of the Week: HSBC JPY Decision Tree
(Allow Displaying Images To View The Chart)

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