USDCAD (updated) - latest news on forex trading in india

USDCAD (updated) ~ latest news on forex trading in india

The weekly trend for USDCAD is downward and the daily chart is operating within the downtrend until price clearly breaks outside the trendline.


The recommended option is BUY using the daily RSI. SELL is huge risk until price clearly moves to the upper zone. The buy zone is indicated on the daily RSI with yellow color.


The recommendation is to wait until the RSI falls back into the yellow zone and buy the next bull candle. H4 will confirm reversal and M15 will entry.



The weekly and daily charts are attached.
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Larger Picture for AUDUSD - forex market news trading

Larger Picture for AUDUSD ~ forex market news trading

This is the larger picture for AUDUSD. The next target for the bull is 0.98400 before a retrace is expected.

I dont trade AUDUSD regularly, but that is where I am watching for a long term trade. As you can see, I have a sell order waiting at 0.99990. This is not recommended for short-term traders. This is purely a long term trade and I am willing to wait for over 500 pips or more. This can take weeks of even months to happen so be warned.

I dont expect it to get there, but would be a pleasant surprise if it does. 0.98400 - 0.99000 is the area I will be willing to pull the trigger manually, if I see a sell signal on the weekly. At that point AUD will damn too expensive against the dollars.

These areas are obvious in the daily and weekly charts attached.

Happy trading!
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GBPJPY See where we are! - forex news trading guide

GBPJPY See where we are! ~ forex news trading guide

[quote=Articulate;4548624]



GBPJPY moves is usually 1000 pips per movement with a pause every 500 pips. The 1000 pips support and resistance points are depicted by the yellow lines, while the 500 pips resting points are shown by aqua color.



The red zone on the 14 days period RSI is the sell zone, while the blue zone is the buy zone. The horizontal line on the daily RSI tells you when a movement is weak or about to reverse. The daily chart is the best guide for this style.


The charts are attached. Have a colourful weekend![/quote]





I mentioned that the above posting is classical. See where we are on the weekly and daily charts. For short term traders, I attached H4 charts. I intend to post GBPJPY charts at the beginning of every quarter. Expect another one in May 2011
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The retrace is almost complete - forex news trader mt4

The retrace is almost complete ~ forex news trader mt4

The retrace which started when price reached around 1.60000 in August is almost complete. I.60000 is the target now. How many days are we going to spend between 1.58385 and 1.60000? I dont know. What I know is that a daily candle above or below the box will signal the next direction.



This daily chart has been valid since August. I will update the daily chart whenever we move out of current box. The daily chart gives the trend, which is still up, the H4 gives signal of when to trade and M15 is for entry.



I have alway said it trading within the concrete zone is the best option for any retail trader who desires success. Afterall, if your Account size is $1,000.00 and you trade 0.10 lots, you only need to make $100 a month (about 100 pips/month or 5 pips/day) to grow your account by 10% monthly. If you are able to achieve this regularly within a year, you will outperform most Funds/Fund Managers.



If you have the above mindset, your success is almost guaranteed in this highly volatile endeavour.



Happy trading!
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Bigger Picture for AUDUSD - forex news.gci trading

Bigger Picture for AUDUSD ~ forex news.gci trading

Audusd is currently trying to move back to the top of the weekly trendline from 0.80634, when the took off to the currently high. The trendline is what it holding the pair from rising higher for now. If the weekly successful opened and closed above the trendline, then the trend will resume on the higher time frame. If the trendline holds, the a fall to 1.02500 which is the base for the current move is possible. A fall below will drop the pair back to its concrete zone 1.02500 - 0.95000 where it traded for the past 6 months.

My view is that a big reverse is in the horizon, the monthly, weekly, daily are all dangerously close to the overbought zone. A touch of 50 point mark is due on the daily RSI.

Recommendation: short whenever H4 enters the yellow zone and take profit if it drops back to the 50 point mark on H4 RSI

This is the bigger picture.
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EURUSD Technical Analysis On 31st January (updated) - forex trading courses johannesburg

EURUSD Technical Analysis On 31st January (updated) ~ forex trading courses johannesburg

EURUSD Hit Double Top and Possible to go Down

"Double Top Pattern" Seen in EURUSD counter at 135.82 line. So it clear that EURUSD has big resistance in this level. And has possibility to go down today towards 1.3510 line. Weekly solid up side movement now end and the pair going to take some correction toward south side.

Trading Tips:-

SELL EURUSD Below 1.3585 TARGET 1.3535 , 1.3510 

x

Alternative Scenario:-

BUY EURUSD Above 1.3595 TARGET 1.3610, 1.3635

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See where we are! - forex market news mt5

See where we are! ~ forex market news mt5

Look at where the price is at the moment! The price moved above 1.60000 by about 20 pips, came down straight and closed around 1.58385 support. There is nothing better than trading within concrete zones. As I mentioned earlier, the current zone is valid until the daily candle closes either above or below the box. See the current range clearly depicted by M15 chart below.

Happy trading!
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AUDUSD (updated) Recommendation - trading the news in forex strategy

AUDUSD (updated) Recommendation ~ trading the news in forex strategy

AUDUSD is still on an upward trend. The Weekly trendline is in yellow colour and the daily trendline is in blue colour. The currency is current trading within it historical high. The descent has begun on the weekly chart. There is real possibility of further fall. The trading range between August 2010 to date is 1.00241 and 0.95092. In between there is a minor support at 0.98037.



The current fall on the daily is approaching the oversold territory. The recommended option for trading this currency is SELL using the daily RSI. BUY is very huge risk For clarity, I have indicated the sell zone in yellow colour on the RSI.



This is the time to WAIT. Wait until price gets back to the yellow zone to short.


Happy Trading!



See the weekly and daily charts above
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The blue zones - forex market gold news

The blue zones ~ forex market gold news

See where we are on the blue zones. It is always useful to plan ahead. I will be updating the blue zones every two weeks
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AUDUSD Technical Call After NAB Business Confidence Index 29th Jan (updated) - forex trading courses london

AUDUSD Technical Call After NAB Business Confidence Index 29th Jan (updated) ~ forex trading courses london

Bullish Bias after NAB Report

Simple Open BUY strategy on AUDUSD

After dip Cut in AUDUSD counter , now the pair seen big support on 1.0380 range. Australian Dollar now in positive mode against all other major currency just after release NAB Business Confidence index. National Bank of Australia release report on  Tuesday morning that Business confidence index rose to +3 from -9 in November.

Trading Strategy :-
BUY AUDUSD @ 1.0425 TARGET 1.0460, 1.0485 SL 1.04

Alternative Scenario:-
SELL Below 1.0400 TARGET 1.0380, 1.0365 SL 1.0425

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GBPUSD 220 Pips concrete zone - instaforex news trading

GBPUSD 220 Pips concrete zone ~ instaforex news trading

The Cable is currently forming the left shoulder of H&S on the weekly chart. A set-up which I identified when price was around 1.53500. As long as 1.61000 is not broken this set-up is still valid.



The daily is currently consolidating between 1.58821 and 1.60247, while the concrete zone is 1.60550 and 1.58300 (about 220 pips). Until a daily candle opens and closes outside the box, this zone is still valid.


How do you trade the current set-up? My view is the cable is primed for a fall. In this case follow H4 chart and short anywhere close to the top of the concrete zone, using M15 chart for entry.



Note that it is the big players that determine where they want to take the price. However, the concrete zone trading strategy will expose their intention. The first signal is that daily candle rise or fall within the concrete zone and lose outside it. The next signal is that a daily candle will open and close outside the zone. Then you will know the direction of the big boys.


I attach herewith the daily, h4 and m15 charts in support of the above analyses.



Enjoy your trading!
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