Short Term View on some majors - forex trading based on news

Short Term View on some majors ~ forex trading based on news

The following currency on H4 are almost ripe for long. I used the word almost, because the signals is not there yet. The best way to use H4 is actually see the signal in the form of the next one or two reversal candles on H4. What is required is to monitor the pair and wait for the signals. It is not advisable to pre-empt the move, wait for the sigal on H4. After a sigficant fall by most of the pairs, they are due for a reverse. The advantage of H4 is that you will get adequate notice of between 8-16 hours. We attach the relevant charts for guidance
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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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Trading Strategy Explained - forex trading on news

Trading Strategy Explained ~ forex trading on news

Let me use this opportunity to explain and make some clarifications in respect of following aspects of my trading strategy.

a) Candle trades
b) Monthly chart
c) Weekly chart
d) Daily Chart
e) 4-Hour chart



Candle trades:

For the candle trades I use weekly and monthly candles and I have a micro account with Alpari which I use for these trades, because I am still experimenting. However, whenever a unique opportunity present and it aligns with my trade set in the charts, I replicate such trades on my main account. For the candle trades, I dont use RSI. I simply follow the candle, if the candle is bearish, I will go short and if the candle is bullish, I will go long. If you want to try this, open a separate micro account or even try it on a demo account over a period of time to properly understand it.





Long Term trades:



For long term trade, I follow the daily, weekly and monthly charts using RSI as a guide. The signals on these period are usually few, but of the best quality.



Monthly RSI gave a buy signal in March 2009 and over the next 4 months, price rose by about 3000 pips. The next signal was given in June 2010 and yield about 1800 pip. Using the monthly RSI, there is no signal to sell yet.



Weekly RSI gave six signals on the chart 3 buy and 3 sell as shown on the chart.



Daily RSI gave three signals so far, 1 buy and 2 sell as shown on the chart.



I attach herewith a daily, weekly and monthly charts for GBPUSD to illustrate the points. The place where the signals are given highlighted in blue boxes.



How do you interprete all these based on where we are today for your long term trade?



Monthly: The buy signal was given in June, if you miss it wait for another signal. Most importantly, dont trade in the middle of channel. You can get your trades on other timeframe.



Weekly: The weekly gave a buy in May and sell signal in August indicated by the spots highlighted. Price is currently on 50 points. Wait for another signal if you want to trade weekly long term.



Daily: The daily gave the sell signal in between August 2-4 and has currently cross the 50 point mark down. The next signal you should watch out for is buy. If you miss the signal in August, wait for the next one.



For a trader who missed all these signal for medium term, trade, what does he do?



If you miss all this signals, the next option is to trade intra-day using H4. The horizontal line on the RSI is your guide.



For a trader who misses all of these signals, what does he do?



The best option is to stay out on the sideline and wait for the next signal, because that is the only way to be a successful trader.



I took time to clearly enumerate the steps to show that is important for a trader to be methodical in his approach. If a set-up is not right, ignore such trades. To give you more trading opportunities, you can monitor between 2-4 majors and only trade the one that presents the best opportunity at any point in time.



Happy trading!
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GBPUSD Daily 170 Pip Flag - forex trading on news releases

GBPUSD Daily 170 Pip Flag ~ forex trading on news releases

The cable has now formed another 170 pips flat on the daily. It has been trading within the range for the past 5 days. A break out of the curren box will determine the next direction. The advantage of this is to The three charts below give idea on the trading opportunities within this range. 1.54198 and 1.53274 are the major areas to watch out for a break upside and downside respectively. If you want to trade this wait for the next H4 candle.
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Cable still respecting the the concrete zone - forex news gun trading

Cable still respecting the the concrete zone ~ forex news gun trading

Cable is still respecting the concrete zone and the pressure is to the downside. For any move to the upside to be valid, the pin on H4 will have to be neutralised by another H4 candle above the pin.
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My view on some majors - forex news trading method

My view on some majors ~ forex news trading method

Most of the majors are at cross road at the moment. In continuation of my desire to share my views here I present my views of some of the majors today.

GBPUSD

My current view on the GBPUSD is still valid until the daily candle closes outside the box. Once that happens, the next range is clearly indicated on the chart.

USDJPY

For the USDJPY 82.00 is the crucial point at the moment. Reaction of price at this point will determine our direction. If this point hold and price successfully break 83.16, then a test of 85.00 area is possible. If 82.00 fails, then a freefall is a big possibility. Weekly is currently at an indecision mode as depicted by the current star.

GBPJPY

For the USDJPY 82.00 is the crucial point at the moment. Reaction of price at this point will determine our direction. If this point hold and price successfully break 83.16, then a test of 85.00 area is possible. If 82.00 fails, then a freefall is a big possibility. Weekly is currently at an indecision mode as depicted by the current star.

USDCAD

USDCAD is current oscillating between 1.01120 and 1.03200 areas. A touch of 0.99600 is possible to create a double botton on the daily chart.

AUDUSD

For AUDUSD my earlier analysis is still valid. Where the daily candle closes today is very crucial. A close above 0.98400 is an indication that parity is still a possibility. The most important determinant of direction of the currency now is the weekly candle and close below 0.98400 is a confirmation of a drop to at least to next support at 0.93800

EURUSD

1.38200 is a crucial point EURUSD, weekly close below or above will determine whether the bullish move will continue or the bear will take over.


In summary, the most profitable option technically for long term trade for EURUSD and AUDUSD is short, while the best option for USDCAD, USDJPY is long. For GBPJPY and GBPUSD, 127.00 and 1.60000 respectively are crucial points in determining, the next level for both pairs.

For the the short term trades, if the daily and the weekly is bearish, then you continue to go short using H4 for direction and M15 for entry.

On the other hand, where the daily and the weekly is bullish, then you continue to go long using H4 for direction and M15 for entry.

I attach the relevant charts for these above analyses.
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How to Bring Real Happiness in Our Busy Life Explore Some Hidden Secrets - free forex trading courses london

How to Bring Real Happiness in Our Busy Life Explore Some Hidden Secrets ~ free forex trading courses london

Are You A World Most Happiest Person ?

Explore the Secrets of Happiness

Now we are in 2013. This is the Century of machines. All the single persons through out the World are busy now to acquire full  Happiness by there single penny. Because still our old thinking is "Money Can Buy Happiness" . Recently Professor Michael Norton, Harvard Business School , reported at the TED conference. that money can bring happiness only when it spends to other people . According to him, if you buy a $ 5 gift to your friend, its significantly boost Joy in your life. He also argued that ,nearly every country, people who donate to charity are more blissful than those who only spend on themselves.

In the study, the researchers approached strangers on the street and either gave them $5 or $20 to spend by the end of the day. Those who used the windfall to benefit others, by buying toys for siblings, treating friends to coffee, or giving it to the homeless, felt far greater happiness than those who were told to spend it on themselves. Yet most study participants predicted the opposite: that they’d gain more pleasure by buying themselves a little treat.

Here We Exploring some more hidden Secrets of Real Happiness:-
1 - Happiness is Contagious
Rejoice if things are going well for your friends and neighbors: Research shows that people become 25 percent happier with their lives if a pal who lives within a mile of their home has a significant uptick in joy.
Oddly enough, studies suggest that if your spouse becomes happier, your own joy only rises eight percent, while a more blissful next-door neighbor would lift your level of delight by a whopping 34 percent. Alas, this effect doesn’t extend to the workplace, reports Nick Powdthavee, author of the Happiness Equation.

2 - Art Unleashes Delight 
Next time you’re brooding about work hassles or a frustrating situation, try drawing a smiling face or funny cartoon. Creating cheerful pictures reduces stress and boosts happiness, a 2008 study found. After watching a gloomy film, one group of participants sketched their current mood (venting), another drew a cheerful picture, and a control group was given a different task (distraction). The group that drew upbeat art showed the greatest rise in mood, leading the researchers to theorize that positive fantasies and drawings are a form of emotional repair.

3 - Friends are More Valuable than a Ferrari 
Apparently friendship isn’t priceless, since British researchers have calculated the monetary value of a sociable life, compared to a lonely one. In the study, a pay hike of $1,600 only accounted for a 0.0007 point uptick on a seven-point self-reported happiness scale. Spending more time with friends, however, lifted joy by 0.161 points. “What this implies is that swapping a sociable life for an isolated one requires a pay rise of approximately 0.161/0.0007,” about $374,000, says Powdthavee. “That’s a little more than a new, gleaming Ferrari 612 Scaglietti,”

4 - Optimism is Good for Your Heart—Literally Being cheerful may help cut heart disease and stroke by 50 percent, according to a Harvard School of Public Health review of more than 200 studies, published last month in Psychological Bulletin. And while you may think that happy people are just healthier, the researchers found that the link between an upbeat outlook and reduced cardiovascular risk held true even when age, weight, smoking, and other risk factors were taken into account.

Another study found that laughter has powerfully beneficial effects on blood vessels, compared to exercise 

5 - Double Down on Random Acts of Kindness
Reaching out and helping others can lift their spirits—and yours. In a Stanford study, students were divided into three groups. One group was asked to perform five random acts of kindness a week during the six-week study, the second group to perform the five acts in a single day, and the third control group didn’t get any instructions on kindness. While people who did good deeds felt happier at the end of the experiment, those who did the kind acts in one day felt the happiest of all. And that’s a wonderful reason to make helping others part of your daily (or at least once a week) activities.

6 - Sprinkle Surprises into Your Day 
Studies show that when people are asked to do the same thing over and over, even if they enjoy the activity at first, it eventually becomes a buzzkill. Conversely, a varied routine boosts bliss by making life more fun and spontaneous. Look for little ways to mix it up every day, waking up early and walking in the morning sun, surprising a friend with flowers, talking to new people, taking an unfamiliar route to work, or trying an exotic food.

7 - Believe the Best is Yet to Come 
The upside of getting older is that you’re likely to get happier. A Gallup poll of more than 520,000 Americans reports that those over the age of 60 enjoy better emotional health than do younger folk. In fact, people in their 70s, 80s, and even 90s, on average, report a higher level of positive emotions and experiences—such as laughing, smiling, doing something interesting, and overall enjoyment—than do those in their 30s. One reason may be that as we age, get better at focusing on activities and experiences that give us pleasure and appreciating what’s satisfying about our lives.

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How to Be a Successful Forex Trader Just Follow Some Success Tips - forex trading classes london

How to Be a Successful Forex Trader Just Follow Some Success Tips ~ forex trading classes london

Exploring Key of Success in Forex Trading

Forex Trading now being very much popular world wide. Millions traders doing hard work from Monday to Friday to get some pips  from their trades. But survey showing maximum traders lost all their  balance in this very risky market . But on the back side , it is also fact , many others doing very well job and they easily earn huge profits just by spending some hours on this platform.

Now the question arise , why some traders loss all their wallet balance and on the coin side why some other traders earn big .
After broad discussion with many successful traders we explore some truths and logic. To be a successful trader , you should follow some basic fundamentals. Few are them given below .......
1. Traders should psychologically prepare your self that forex is a very much risky platform and traders may loss all their single penny just by doing a mistake.
2. Traders should follow World Economic News, Trends.
3. Money Management also a very big requirement. Traders should set his/her mind that how much profits or loss can accumulate in a single trade. ( may be 5-10% profit or 5-10% loss )

4. Work with few currency pairs. it maximum 4 .
5. Imply a discipline trading hours.
6. Abolish Greedy thinking from your brain. If your Set day target achieved in a single trade, just exit from terminal. Survey showing that many traders loss all their money just because of greed.
7. Follow good technical charts.
8. Lastly , if you seen all your traders going to loss for a week , you just take a rest from your trade for next week . And watch market .

If you have any other Tips , please share with us by using comment section. Wish you all the best. Happy Trading.

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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 450 Pips Box - forex market news in hindi

GBPUSD 450 Pips Box ~ forex market news in hindi

I have said it several times in my previous posts, it is always helpful to have the bigger picture in mind when trading.



For the past 10 weeks the cable has been trading withing a 450 pips range. For 11 weeks, it has been Bull+Bear+Bull+Bear, etc, the only exception being last week and this week which is currently Bull+Bull. If the pattern is to continue this weeks candle might end up being a bear. The pair has thus create a 450 pips concrete zone. This a strong manifestation of consolidation between 1.60000 and 1.64000, the middle of the zone is somewhere around 1.62000. To break out of this zone, a weekly candle need to open and close.



How do you trade concrete zone? Short as near as possible to the top of the zone and go long as near as possible to the base of the concrete zone using H4 candle as guide and M15 for the best entry. As for stop loss, set them outside the zone (It can as low as 3 pips or as high as 50 pips depending on your risk appetite). A false breakout outside the zone of about 50 pips is possible. Trading this way, you avoid chasing every price movement. It is most profitable and less stressful to have the bigger picture in mind.





I attach the weekly, daily and H4 charts clearly illustrating the above analysis.
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Re Understanding Price Action - forex news trading indicator

Re Understanding Price Action ~ forex news trading indicator

Please read my last post

For GBPUSD price finally touched 1.61850 to replicate the move I envisaged in my last post. Our range for now is between the area mark in red boxes. Until the daily RSI reaches 30 point mark, the ultimate direction is down.

for GBPJPY my pending order at 135.00 was finally picked yesterday after pending for almost 3-4 weeks. The dragon has now completed 1000 pips move and a huge drop (another 1000 pips down is almost guaranteed) is very imminent it is only a matter of time. The only recommendation for GBPJPY now is SELL using H4 to pick bargain SELL

See the charts below. It is always helpful to plan ahead.
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GBPUSD 200 Pips Box - monexnews forex trading news

GBPUSD 200 Pips Box ~ monexnews forex trading news

I have earlier explained the benefit of daily box system. The strategy is simple, draw the box on the daily chart and go down to H4 for trend and M15 for entry. Using this system, you will be able to see price movement clearly.

I have earlier explained the benefit of daily box system. The strategy is simple, draw the box on the daily chart and go down to H4 for trend and M15 for entry. Using this system, you will be able to see price movement clearly.

We now have another 200 pips box. The RSI is a guide as to the upper and lower range of the price action within the box. Carefully observe how price behave no mather the time frame around 50 mark on RSI.





Cable has broken out of the 200 pips box and appears to be heading toward the next box. Price movement is simply a matter of habits. History keeps repeating itself over and over again.



Look at the candle between between 1.57147 and 1.58534 both on the way up and down. I single H4 candle. Also look at the candle on the way down from 1.60000 which closed on 1.56396 and the current candle which took which close outside the box.



If we break the resistance at 1.58535 our next destination is most likely the next zone between 1.58535 - 1.60000. If the resistance hold however, we have landing where the candle took of from i.e. 1.57000 - 1-55000




Happy trading!
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