Learn secrets of the most successful Fibonacci traders - forex news trading ea

Learn secrets of the most successful Fibonacci traders ~ forex news trading ea

Bank Big Profits When You Arm Yourself With a 5,000 Year-Old Secret Weapon to Pinpoint Key Market Turning Points With the Skill of a Military Marksman!"

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Technorati tags: Forex, forex trading, Fibonacci, Fibonacci levels, Fibonacci formula
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Medium Term View on some of the majors - online forex trading news

Medium Term View on some of the majors ~ online forex trading news

USDCAD Daily chart is currently close to a resistance that has failed to give way since June 2010. It is being tested for the third time this month. If the resistance hold then the current bullish trend could be reversed. If the resistance is eventually broken, the next resistance is at 1.08584 area. The best option for medium term trade is to monitor the pair and wait for the sigal

AUDUSAD Dily chart is currently in the middle of channel. It can go either way. The current position is not ideal for any medium term trade.


GBPUSD is on its way down, but it has not reached its destination. The current position is not ideal for medium term trade. For medium term trade, the best option to wait for the time when the current trend will reverse.

GBPJPY is getting close the end of the channel. Being a volatile pair, it is not advisable to go long yet. The last signal was given on 28 of this month and it retraced by almost 500 pips and back to the spot in 5 days. That is about 1000 pips both ways. The signal to sell was given around 137 area. If you miss either of the two the best option is to wait.
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Outlook on some Majors - forex market news international

Outlook on some Majors ~ forex market news international

USDCAD
The downward pressure is still on USDCAD and the pair is still respecting the downward trendline on the weekly chart. Every attempt to rise met resistance at the 50 point mark. History has shown no currency pair remain low for ever.

Recommendation:

Wait for price to fall back to the 30 point mark on the daily chart and watch out for the 50 point mark to take profit or lock your profit.

GBPJPY

GBPJPY is stll continuing its upward movement from 125.45 As I mentioned earlier the pair usually move at least a 1000 pips divided in 500 pips to complete a circle. The current move is expected to reach around 134-135 area. Price is currently bouncing between 70 and 50 point mark.

Recommendation:

Wait for price to rise back to 70 point mark, sell and watch out for the 50 point mark on Daily RSI to take or lock your profit. Personally I would prefer to short around 134-135. I actually have a pendind order at 135.00 for almost three weeks.

GBPUSD

GBPUSD broke out of the concrete zone this week to touch 1.62796 to complete almost a 1000 pips move. The pressure is to the downside. Price is currently bouncing between 70 and 50 point mark.

Recommendation:

SELL. Wait for price to rise back to 70 point mark on the daily chart, sell and watch out for the 50 point mark on Daily RSI to take or lock your profit. Remember whenever a daily candle opens and clososes outside the concrete zone the direction is confirmed.


AUDUSD

AUDUSD us currently trading between 1.02411 and 0.95092 (our current concrete zone). The middle of the zone is established at 0.98038. Price is currently bouncing between 70 and 50 point mark.

Recommendation:

SELL. Wait for price to rise back to 70 point mark, sell and watch out for the 50 point mark on Daily RSI to take or lock your profit.

The relevant daily and weekly charts for these pairs are attached. Enjoy your trading!








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The Secret Weapons 147 50 157 50 1000 PPPA - forex trading economic news

The Secret Weapons 147 50 157 50 1000 PPPA ~ forex trading economic news

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THE MASTERTRADER E BOOK SERIES IS OUT - forex news trader ea

THE MASTERTRADER E BOOK SERIES IS OUT ~ forex news trader ea

It is my pleasure to to inform my visitors that my online-foreign exchange (forex) e-books are out.  The books come with live training sessions via Skype.  These books contain high-quality trading techniques and do not come cheap.  Only serious traders are advised to express interest.

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MONTHLY OUTLOOK GBPJPY - forex news trader ea free download

MONTHLY OUTLOOK GBPJPY ~ forex news trader ea free download

THE YEN OUTLOOK FOR APRIL 2013

The Yen pairs having reach their highest price so far in 2013 have been consolidating within a concrete zones ranging between 700-1000 points since February 2013.  These ranges have now been narrowed down to about 500 pip each as follows:

GBPJPY   -  140-145
EURJPY   -  120-125
USDJPY    -  90-95
AUDJPY   - 95-100
NZDJPY   -  75-80

The range could be seen clearly in the Monthly and weekly charts attached.

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GBPUSD(updated) Outlook - free forex news trading ea

GBPUSD(updated) Outlook ~ free forex news trading ea

The Cable effectively traded between the Masterchart level 1.5300 and 1.6300 for most of 2012.  The bullish run which began since June 2012 is technical still intact.  The monthly candle has been consolidating between 1.6000 and 1.6300 for the last 4 months.   The monthly candle needs to close out of this 300 pips range in order to determine the long-term   direction.  Based on the fundamentals the presure appear to be to the upside. However,  the big players are capable of draging the pair back to 1.5300 to maintain the ping-pong game from between 1.5300-1.6300

If you want additional information on how to take advantage the scenerios send an e-mail to diamondstrategiks@gmail.com for a copy of the 2013 GBPUSD Strategic Trading Plan.

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Is USDCAD ripe for short - forex news trading pdf

Is USDCAD ripe for short ~ forex news trading pdf

I am currently watching USCAD for short. For the other majors that I dont trade regularly, I look for set-ups in the daily chart. The daily is getting ripe for short, but the signal is not there yet. The next 2-4 candles will determine the direction. The two major resistance areas on the daily chart will give the signal to sell for an appreciable drop. I attach two charts to clearly illustrate the point.



Enjoy your trading!
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USDCHF (updated) Outlook - forex market news in india

USDCHF (updated) Outlook ~ forex market news in india

WEEKLY



The weekly chart has been on the decline from 1.17500 since May 2010. The trendline is being respected so far.



DAILY


The daily chart is also on a decline and presently unable to rise above the 50 point mark. In view of the current weakness of the dollar, the pressure seems to be on the downside. The daily RSI is currently on 38+. But historically USDCHF is cable of drastic movement up and down it can go as low as 16.67 point on the daily RSI and as high as 80.12. It is always helpful to understand the currency pairs you are trading.



Recommendation:



This is the time to wait until the daily RSI falls below 70. At least 2 daily candles will alert you when to buy or sell.



The weekly, daily and H4 charts are attached as usual.
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Understanding Price Action - forex trading important news

Understanding Price Action ~ forex trading important news

I have always emphasised, most especially to new traders, that price movement is never random. It is an organised chaos designed by the big players to confuse the novice. However, the daily chart will exposes the intention of the big boys.



As you can see from the daily chart below from its height of 1.62795 the daily candle touched 1.59593 and is now pulling back as at the time of writing. Where will it close? Please note that until a candle closes it is still a moving target. Concidentally, the last time the daily candle fell from 1.62795 it touched t.59593 (indicated by the red box in the chart) and pulled back to 1.61750 area. On the first occassion, the daily RSI kissed 50 point mark and turned back. Will it behave the same way this time around? Coincidentally these key areas are respected on the weekly chart.



What is the meaning of the above observation? Whenever price gets to 50 point mark on the daily RSI price could go either way, it could either reverse or continue the journey. The key to success in this business is TIMING (TIME TO SELL, BUY, WAIT OR TAKE PROFIT). If you are trading using the daily chart as a guide 50 point mark is neither the time to buy or sell but to take profit and wait for other opportunities.



How do you trade this? As long RSI is still above the 50 point mark, the ultimate direction is down (30 point mark) before any major reversal. If this is a pull back, watch out for opportunity to sell between 1.61750 and 1.63000 when daily RSI would be around 70 point mark. In simple term, you can either wait for daily RSI to get back 70 point mark to sell or 30 point mark to buy.





See the daily and weekly charts below and the key areas to watch out for. It is always helpfull to plan ahead.
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GBPUSD Current Outlook - forex news trader pro

GBPUSD Current Outlook ~ forex news trader pro

In forex trading it is important to have the larger time frame in mind.


The fourth chart is the weekly chart. The trendline where the price touched and bounced back is the downward trendline from 11 of August 2007. As long as price is on top of line, the move move upward is still valid.

The third chart the daily tells us that the downmove is still valid, probably what is happening is a retrace.

The second chart which is our ever reliable H4, tells us that price is taking a breather and the signal was given around 1.53800. The line on the sand now is around 1.53800.

The 1st chart is M15 which showed when the signal was given.

How do you trade this for a short term trader looking for 40-100 pips per trade? Wait for the current HR candle to close if the next candle open above 1.53800, the retrace is confirmed. Follow the candle and take your pips.

Another way to trade this is, since the daily chart shows that the fall is still on, wait for the current reverse to end and follow the next bear candle. Either way you will get your pips. The advantage you have with H4 is that you are guaranteed enough notice. If you look at your GBPJPY H4 Chart you will observe almost identical set up.

If you pick only 5 pips daily, 25 weekly and 100 monthly based on the recommended lot size to the account value, you will increase your account by 10% at the end of the month.
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