Breakout trade on EURCHF

Categories: Daily Technical Analysis Tips and Picks

Got a good trade yesterday. Traded on a breakout of trendline. Made an entry at 1.6076 took profit at 1.5980, a total of 96 pips !!! Not too bad in a days work. Look at the weekly chart for a sense in direction of trend, then look at the daily chart for confirmation. This trade […]

Got a good trade yesterday. Traded on a breakout of trendline. Made an entry at 1.6076 took profit at 1.5980, a total of 96 pips !!! Not too bad in a days work. Look at the weekly chart for a sense in direction of trend, then look at the daily chart for confirmation. This trade I took is completely on price action, no MACD, no Stochastic, no RSI. Just plain old Support and Resistance, Retracements, and Fibonacci. Read More

GbpJpy live trade alert

Categories: Daily Technical Analysis Tips and Picks

Nice trendline breakout of price on GBP/JPY on a 4 Hourly chart. I wil be looking for a pulback or retracement on price back to the trendline then continue a nice downward move again. Always wait for a retracement to avoid false breakout.

Nice trendline breakout of price on GBP/JPY on a 4 Hourly chart. I wil be looking for a pulback or retracement on price back to the trendline then continue a nice downward move again. Always wait for a retracement to avoid false breakout. Read More

GBP live breakout trade

Categories: Daily Technical Analysis Tips and Picks

Trade entry of GBPUSD on price 1.9780 . trade on breakout of trendline and previous high or resistance, Stochastic Divergence. Stop loss at 1.9850 and take profit at 1.9730 based on fibonacci 62% converge with previous high or previous resistance.

Trade entry of GBPUSD on price 1.9780 . trade on breakout of trendline and previous high or resistance, Stochastic Divergence. Stop loss at 1.9850 and take profit at 1.9730 based on fibonacci 62% converge with previous high or previous resistance. Read More

EURCAD Head and Shoulders

Categories: Daily Technical Analysis Tips and Picks

Hi Traders, looking at the EURCAD Daily chart, we have a Head and Shoulders pattern forming. It will be great news if you are looking to sell this currency. I will only be interested to consider a sell entry when price hits a breakout at approx 1.4613 . So if there are no confirmation […]

Hi Traders, looking at the EURCAD Daily chart, we have a Head and Shoulders pattern forming. It will be great news if you are looking to sell this currency. I will only be interested to consider a sell entry when price hits a breakout at approx 1.4613 . So if there are no confirmation or if price don't breakout of the neck line, don't enter. Guys, you know the drill, when the price starts to near the neck line, get you ... Read More

Daily GBPUSD forex setup

Categories: Daily Technical Analysis Tips and Picks

Possible downward pressure on the GBPUSD. A hammer candlestick formed at the previous high zone. It is also the resistance zone. Also reversing at Pivot point weekly R1 and R2. I am looking to sell GBPUSD, waiting for more confirmation, currently I don’t see any divergence on the stochastic, MACD or

Possible downward pressure on the GBPUSD. A hammer candlestick formed at the previous high zone. It is also the resistance zone. Also reversing at Pivot point weekly R1 and R2. I am looking to sell GBPUSD, waiting for more confirmation, currently I don't see any divergence on the stochastic, MACD or Read More

78 essential forex strategies - Part 1

Categories: 78 Essential Forex Strategies

1. Normally, I will take the numbers from Friday to determine the S&R for the next trading session. If some unexpected price movement happen on Sunday like a super price spike, then I would consider using the Sunday’s OHLC for readings.
2. Pivot points will be different from one trading platform to another because the closing […]

1. Normally, I will take the numbers from Friday to determine the S&R for the next trading session. If some unexpected price movement happen on Sunday like a super price spike, then I would consider using the Sunday’s OHLC for readings. 2. Pivot points will be different from one trading platform to another because the closing or cut-off of the broker is different from one another. Some may end at 5 pm, some may end at a different time. If you want to ... Read More

Forex news and advice on CAD today

Categories: Daily Technical Analysis Tips and Picks

Canada retail sales were up 0.6% m/m in December, in line with expectations, but sales excluding autos declined 0.4% m/m, well below the expected +0.3%. Auto sector sales accounted for most of the headline sales increase, while five out of eight other sectors posted declines in December, and were unable to follow-up on strong November […]

Canada retail sales were up 0.6% m/m in December, in line with expectations, but sales excluding autos declined 0.4% m/m, well below the expected +0.3%. Auto sector sales accounted for most of the headline sales increase, while five out of eight other sectors posted declines in December, and were unable to follow-up on strong November gains. On the whole, traditional holiday retailers experienced disappointing sales in December. Weaker than expected sales excluding autos should give the Bank of Canada more ammunition to ... Read More

EUR CHF daily forex updates and tips

Categories: Daily Technical Analysis Tips and Picks

The closely watched German IFO business climate survey, due Tuesday, is expected to show a slight deterioration in February. The final reading of Q4 GDP growth out of Germany will also be released Tuesday. The pace of Eurozone M3 growth likely continued to accelerate. The German employment report for February, out Thursday, is expected to […]

The closely watched German IFO business climate survey, due Tuesday, is expected to show a slight deterioration in February. The final reading of Q4 GDP growth out of Germany will also be released Tuesday. The pace of Eurozone M3 growth likely continued to accelerate. The German employment report for February, out Thursday, is expected to show another decline in unemployment. The preliminary German and Eurozone inflation readings for February will be released Friday; both are expected to reflect still high inflationary pressure. ... Read More

Forex news and advice on JPY today

Categories: Daily Technical Analysis Tips and Picks

BoJ Fukui said on Friday that Japan’s economy has become more resilient to external shocks and is likely to continue expanding moderately, though the central bank will take rising risks into account when setting monetary policy. Nevertheless these comments reinforced market views that the BoJ will keep rates steady or even cut them later this […]

BoJ Fukui said on Friday that Japan's economy has become more resilient to external shocks and is likely to continue expanding moderately, though the central bank will take rising risks into account when setting monetary policy. Nevertheless these comments reinforced market views that the BoJ will keep rates steady or even cut them later this year. He emphasized that the global economy continues to expand but a U.S. economic slowdown, should it deepen, could affect not only the major economies but also ... Read More

Daily USD forex news and tips

Categories: Daily Technical Analysis Tips and Picks

The US dollar finished the week lower against most currencies bar the CAD, with the NZD, CHF and EUR the strongest currencies, in that order. Risk aversion has remained relatively contained, with the Vix index at 24 trading at the lower end of its monthly range of 23.6 to 29.7. Contained risk aversion is despite […]

The US dollar finished the week lower against most currencies bar the CAD, with the NZD, CHF and EUR the strongest currencies, in that order. Risk aversion has remained relatively contained, with the Vix index at 24 trading at the lower end of its monthly range of 23.6 to 29.7. Contained risk aversion is despite elevated oil prices and inflation expectations in the context of continued gloom on the economic growth outlook. It has also occurred despite a flattening in the yield ... Read More