EURNZD Retracing on HTF so use strong and fresh supply for sell orders until hit the Daily Fresh demand zone
Another Forex trading snack. Well like that the market does what it wants too! The market is never wrong! So what went wrong with my take on the SPX and what I was seeing in the markets? Nothing! Nothing at all. News hit about potential positives with the Covid 19 virus... well traders and algo’s that have had 11 years of bullishness in the markets fueled by the...
Here is another Forex Trading Snack. To go along with my stock risk on or off trading view, here is my favorite Forex pair that matches closely to my stock trading view. Of corse the two instruments trade inversely to each other. My main strategy for this weeks market open is to follow the recent up channel the pair has been trading in. The downside has been...
Here is another trading Snack. Ever sense the stock market pushed to it last all-time-high, followed by risk off fears of the pandemic, we’ve only challenged the re trace move bacK to the 61.8 Fib level and now are grinding around. With zero or close to zero rates in most of the world, money managers who for the most part have only seen for the last 11 years a...
Another Forex Trading Snack. My law of big candles does fail and has a 33% failure rate. But that doesn’t mean you can not learn to bend the odds in your favor, along with putting you on the road to greater successes in the future. In my previous post on EURAUD I posted up a trading strategy. My law of large candle strategy. And I don’t want to get people...
Here is another Forex Trading Snack. This is an example that I saw in the market this morning ( my morning ) and my trade setup as I took it, long with my thoughts as I planed it out. Price action certainly has changed while I was slowly typing this post. Just an example of how I trade a larger true average range currency pair. The plan here is to trade long in a...
Here is another trading snack! AUDJPY has created this really nice bearish wedge pattern. In my opinion there is two good ways to play this pattern. As always patterns can and often do break in the opposite direction from ones own analysis or market bias’s. Having said that, trade if you must with your own risk tolerances. ‘‘Tis also isn’t trading advice, but my...
Another Trading Snack! Using my weekly chart I’ve formed this oil trading bias for some time. That and I deeply respect the EW 5 wave patterns on longer time charts. Let me explain... Yes that’s right! I suggest that new lows could come in price action on the WTI even though the oil war had come to an end as some pundits were reporting in the news. I have...
Many seemed to believe with the oil war over and the 10 million cut in supply that this would’ve caused price action to rise at the next opportunity. I mean Algo’s would have driven price higher off this kind of news right? The worlds industrialized nations have been filling their tanks as oil was falling—now that the world oil production agreements have come to...
Here is another Forex Trading Snack. A Friend on twitter said it like this. “With everything the FED has done plus the fiscal stimulus package one would think that markets will stabilize first, then soar.” Bellehos I agree, In stead we hit a bottom and started in a V shape Stock market recovery. The reason IMO as well as many others is leverage. It is an...
Another Forex Trading Snack. From my original posting of the short opportunity that I saw in USDNOK, my tactics have always been in building a position up to take advantage of my longer term bias for the pair. The market will do what’s its going to do and all we can do is catch a ride if we can. Newer traders might just catch a great entry point but only get...
Impulsive moves are what we are looking for. Right? I mean those are the moves that have the biggest bang for the trading risk buck! However looking around the charts sometimes you just run into a move that has already happened. Sad, but it’s true all to often. Opportunity could just be hiding in plain sight though. This is when I look for a EW ( Elliott Wave )...
Another Forex Trading Snack. AUDJPY on my weekly chart it shows an interesting point in price action. Sitting just below a multi year trend line ( a trend line going back to 2018 ) this down slopping pink trend line should provide a cap in price. Usually price action taking a crack at a multi year line doesn’t break through on the first try. My bias is to set...
Another Forex Trading Snack! I know! It’s been lagging the moves of the S&P stock index when it’s been a great risk on or risk off dance partner. Where has the partnership gone? This 109.70 resistance zone has held price from advancing when stocks have been screaming higher throughout the Christmas rally. I don’t believe in straight line moves move on for ever!...
Here is another Forex Trading Snack. From our breakout trade more then a week ago I’m still holding onto my very bullish bias. It has pulled back to its longer term flag top pattern ( indicated by the horizontal red line ) a shorter term bullish battle zone with the lower 1500 round number being the bullish OH crap zone!! This is a free ride trade for the idea...
Welcome to another Forex Trading Snack. NZDCAD looks good for a possible EW ( Elliott Wave ) 5 wave pattern on the hourly or the 2 hour and also in the 4 hour charts. Sometimes patterns are much more clear on a certain timeframe, but at times like this, it fairly clear in multiple times. Friday trade was wild with NFP news and price action that followed. Yet...
It’s not all that often I get to post up a scalping plan. So here is another Forex Trading Snack! EURUSD broke above it channel it had been running in for about a week and one-half. Although it seems tired a bit for today. It’s still grinding higher. Although I can count a EW 5 wave in the 15M I would suspect pullbacks to be bought the closer we get to...
If you have been trading GBP pairs you’ve know all about the tape bombs or headline whiplash moves. It’s hard to get in a trade when a headline can just drop or jump by 100 or more pips regardless of technical setups. But we’ve somewhat known the with Brexit and any of the possibilities there of, things were going to get volatility rolling. So here is another...