USDJPY: USDJPY looks to strengthen further after reversing its intra day losses on Tuesday. Strategy: Buy at 117.87, Stop loss at 117.00, Price target at 118.86
The VIDEO: www.youtube.com Twitter: twitter.com Hello again traders. This might be the last video I do about advanced patterns so make sure that you enjoy every second of it, lol. Also, I want you to know that I am not going to take this trade simply because I want to stay away from the CHF pairs for a while.
Expecting wave 5 to 0.76847 this will complete Wave 1 of wave 3 down. Then a ABC correction Followed be a dive down to the 0.7000s
Please watch this explanatory video : www.youtube.com In this little educational video you will know my rules for trading the Cypher pattern in a simple and clear way. Then, I will show you two live pending Cyphers on GBPJPY, hourly time frame. Notice that I didn't go over the targets and stops in this video; I will cover them in a later video. I will see how...
UPDATE: We are moving our stops up a little further. This has been a great run on the breakout and we will want to make sure we lock in more. Don't chase up here. Goldie runs fast. If you missed the trade be patient for pullbacks.
First target is hit (Thanks Swiss National Bank). We will move stops up to just under our entry. The trade is at no risk and now we will sit on our hands and see how far she can go, As we mentioned this is a weekly setup so we expect a good size move. However, what we saw from the Swiss last night can be a game changer. USE STOPS AND DON'T BE A HERO. You...
Please watch this explanatory video : www.youtube.com In this little educational video you will know my rules for trading the Bat pattern in a simple and clear way. Then, I will show you a live pending Bat pattern on EURCAD, hourly time frame. Notice that I didn't go over the targets and stops in this video; I will cover them in a later video. I will see how...
Hi fellow traders! I've been looking forward to posting an updated version of a currency strength chart I posted a while back. I use it to determine what to trade and in which direction. These charts are an attempt to visualise the gain/loss in strength over time, of each currency, compared to 7 others. I have set this up to display 4 timeframes. 15, 60, 240...
Yes, the E6 is still falling out of bed. And YES, it would have been nice to still be short but that's trading. We rang the cash register as per our plan and we accept that. UNDERSTAND something...you will NEVER catch the exact top or bottom. You just want your share. :) There is nothing for us to do with the E6. Time to be patient.
Nothing happening on the E6. We don't see anything setting up. We will revisit next week. GO BACK AND REVIEW OUR POST ON THE E6. SEE HOW WE GOT INTO AND MANAGED A GREAT TRADE. HAPPY HOLIDAY TO ALL!!!!
As usual with the cypher patterns, not great risk reward ratio. However, the high success probability of the cypher makes it worth taking the trade.
Since covering our position the Euro (E6) has been grinding higher. No need to try and squeeze more juice from the lemon. We made ample lemonade from the trade. We will let the E6 sit for a while (until after the first of the year) or until we see some real buying.
The US dollar weakens almost one percent on growing uncertainty following worldwide equity sell-offs. The weaker dollar is allowing crude to rebound from below $63 per barrel, but spreads on energy debt have ballooned to 880 bps, an all-time new high as traders deem the high-yielding debt extremely risky. The VIX spikes over 16, creating the worst two-day span in...
One of the biggest reasons 98 % of traders lose money in forex is because they don’t know what currencies are strong respective weak. Knowing the strength of a currency will dramaticly help you on the way to become a world class trader, you will never look at the market the same once you have fully understood the importance of currency strength.