Triangle pattern breakout trade set up

Categories: Daily Technical Analysis Tips and Picks

Hi Traders, here is another triangle breakout trade set up on USD/JPY. Let’s look at the USD/JPY H4 Chart…..

Price has broken out of the triangle, retraced, and has headed back to the triangle trendline again. This is what a triangle breakout price action will take. You can also see that the price is hesitating at […]

Hi Traders, here is another triangle breakout trade set up on USD/JPY. Let's look at the USD/JPY H4 Chart..... Price has broken out of the triangle, retraced, and has headed back to the triangle trendline again. This is what a triangle breakout price action will take. You can also see that the price is hesitating at the previous support, I will be interested to go short here. BUT always wait for confirmation before you do that, if you ever enter a trade based ... Read More

EUR/USD trading set up

Categories: Daily Technical Analysis Tips and Picks

Hi Traders, can you believe it? Dow Jones is down 777 pts !!!!! My oh  my, this is the greatest free fall in a day anyone has ever experienced.  I have posted something on my blog saying that Benanke and Paulson may not get his bazooka or bailout, and true enough, the bailout was not […]

Hi Traders, can you believe it? Dow Jones is down 777 pts !!!!! My oh  my, this is the greatest free fall in a day anyone has ever experienced.  I have posted something on my blog saying that Benanke and Paulson may not get his bazooka or bailout, and true enough, the bailout was not passed (click here to read my previous post comment on the bailout). To be honest, even if there is a bailout, the market would have fallen also, ... Read More

Forex trading success on usd/chf on multiple convergence

Categories: Daily Technical Analysis Tips and Picks

Hi Traders, did you catch the trade I sent out yesterday? Well well well, what did you know, it was unexpectedly great. Look at the USD/CHF chart…..

It went to the target area I have spotted; Multipe convergence on gartley patterns, double drives, support and resistance on the H4 and 150MA moving average. Read my previous […]

Hi Traders, did you catch the trade I sent out yesterday? Well well well, what did you know, it was unexpectedly great. Look at the USD/CHF chart..... It went to the target area I have spotted; Multipe convergence on gartley patterns, double drives, support and resistance on the H4 and 150MA moving average. Read my previous post on how I made a trade entry (click here gartley patterns). It just came right down with a 70 pips gain, if you trailed your trade. ... Read More

USD/CHF trade alert - Negative Divergence, Double Drives, Gartley and 150 Moving Average Convergence

Categories: Daily Technical Analysis Tips and Picks

Hi Traders, Trade alert! If you want to squeeze some trades out of this boring market, here it is. Look at the usd/chf 60min chart.

You can look at the stochastics, it has a negative divergence going on. There are 2 levels of Double Drives, or it can be a gartley pattern on 1.0900 and 1.0960 […]

Hi Traders, Trade alert! If you want to squeeze some trades out of this boring market, here it is. Look at the usd/chf 60min chart. You can look at the stochastics, it has a negative divergence going on. There are 2 levels of Double Drives, or it can be a gartley pattern on 1.0900 and 1.0960 levels. Personally I would like the price to go to 1.0960 level as that will also converge with my 150MA. If you go to H4 chart, you ... Read More

Boring Boring Boring!

Categories: Forex Trader's Journal

Hi Traders, it’s been sometime I have not been updating my forex blog. Well, if you are in the forex market, you would have realized that the market is flat, boring, no show. I only had a good run on GBP/USD last week making 90pips. For the rest of the days till now, there is […]

Hi Traders, it's been sometime I have not been updating my forex blog. Well, if you are in the forex market, you would have realized that the market is flat, boring, no show. I only had a good run on GBP/USD last week making 90pips. For the rest of the days till now, there is just no opportunity to enter. This is the time to practise some trader's psychology, if there is no trade, don't trade. If you force trade, then you ... Read More

Caution! Traders!

Categories: Daily Technical Analysis Tips and Picks

Hi Traders, I believe you would have noticed there is a change in trend lately in the 4 majors, USD/CHF, USD/JPY, EUR/USD and GBP/USD. The reason behind is because there is a heavy selling in the dollar. But if you really srcutinize the daily chart in the 4 majors, this change in trend is only […]

Hi Traders, I believe you would have noticed there is a change in trend lately in the 4 majors, USD/CHF, USD/JPY, EUR/USD and GBP/USD. The reason behind is because there is a heavy selling in the dollar. But if you really srcutinize the daily chart in the 4 majors, this change in trend is only a retracement or pullback. In a shorter term, the trend for EUR/USD and GBP/USD will be up, it will eventually go back to the downtrend; probably EUR ... Read More

Yen soars on market turmoil

Categories: Daily Technical Analysis Tips and Picks

Heightened risk aversion dominated the markets at the start of the week amid a fresh bout of turmoil in the financial sector. The combination of Lehman Brothers filing for Chapter 11 bankruptcy, Merrill Lynch being acquired by Bank of America and fears of AIG teetering near the brink sent ripples through the major equity bourses […]

Heightened risk aversion dominated the markets at the start of the week amid a fresh bout of turmoil in the financial sector. The combination of Lehman Brothers filing for Chapter 11 bankruptcy, Merrill Lynch being acquired by Bank of America and fears of AIG teetering near the brink sent ripples through the major equity bourses with the Dow Jones plummeting by 4.42%, the Nasdaq lower by 3.6% and the S&P 500 plunging by 4.71%. The yen advanced sharply across the board as ... Read More

How long does it takes to learn to trade forex?

Categories: Daily Technical Analysis Tips and Picks

Hi Traders, it’s another week, another monday, another opportunity to make some money. I am sure everyone in the world will be shocked by the filling of bankruptcy by Lehman Brothers. Just imagine Lehman Brothers which is able to withstand the onslaught of the railroad bankruptcies, the great depression, But it cannot escape the crutches […]

Hi Traders, it's another week, another monday, another opportunity to make some money. I am sure everyone in the world will be shocked by the filling of bankruptcy by Lehman Brothers. Just imagine Lehman Brothers which is able to withstand the onslaught of the railroad bankruptcies, the great depression, But it cannot escape the crutches of this sub-prime crisis, I really fear that more is coming and this is not the end. Anyway, I have readers like Li and some others that have ... Read More

Man vs Machine (expert advisors aka EA)

Categories: Forex Trader's Journal

Hi Traders, ever came across something called the Expert Advisor or EA? Well, if you have been trading MetaTrader long enough, you will definitely know what expert advisors are. The thing is, why do they call them expert advisor, when you can’t get any advise from them? The puzzles me, but if that’s what they […]

Hi Traders, ever came across something called the Expert Advisor or EA? Well, if you have been trading MetaTrader long enough, you will definitely know what expert advisors are. The thing is, why do they call them expert advisor, when you can't get any advise from them? The puzzles me, but if that's what they are called, Igot no qualms about it. If anyone of you here does not know what expert advsors are, well, they are just pieces of codes, once ... Read More

Daytrading strategy technique using Head and Shoulders pattern

Categories: Daily Technical Analysis Tips and Picks

Hi Traders,
I hope you found as many trades as I do for the past few weeks. I am just too busy trading forex almost  15hrs aday, at least 3 trades per day! One caution to you traders though, do not, I mean DO NOT attempt to swing trade, position trade or long-term trade the currencies […]

Hi Traders, I hope you found as many trades as I do for the past few weeks. I am just too busy trading forex almost  15hrs aday, at least 3 trades per day! One caution to you traders though, do not, I mean DO NOT attempt to swing trade, position trade or long-term trade the currencies for these few weeks, they are all highly volatile. They may not respond to candlestick signals, even high probability ones. In such situations, only daytrade forex. Use ... Read More