The Euro has been grinding its way up riding on CAD weakness.
Right now tho we have a pullback in progress that might try to test/break the channel.
Will keep an eye on this one to re-enter long if I can get a decent price.
This pair is very easy to trade based upon the daily sentiment and EURCAD strenght/weakness and vice versa.
GOOD EXAMPLE ON WHY YOU SHOULD TRY TO FIND AND TRADE THE WEAKEST OF THE WEAK.
SEE HOW THE SELLING PRESSURE HAVE BEEN PRETTY CONSISTENT ON EURUSD.
THERE HAS NOT BEEN ANY EURUSD BULL RALLY TO SPEAK OF ANYWAYS.
BUT ALSO SEE THE STEADY CLIMB THE EURO HAS MADE AGAINST THE NZD DESPITE ITS OWN WEAKNESS.
THE WEAKEST-OF-THE-WEAK IS ALWAYS THE EASIEST TO TRADE.
AS THE USDOLLAR INDEX AND EURUSD CLOSED LAST WEEK AT INTERESTING LEVELS - THEN ONE MIGHT AS WELL PREPARE FOR TRADING OPTIONS ON MORE MAJOR PAIRS.
EURJPY SHOWS CLEAR LEVELS TO WATCH AND OPTIONS TO TRADE AS WELL - NO MATTER HOW NEXT WEEK UNFOLDS WE WILL HAVE OUR PLAN READY.
THE DOLLAR HAS REACHED A VERY INTERESTING LEVEL.
IF IT MANAGE TO BREAK THE SUPPLY ZONE JUST ABOVE IT
THEN NEXT TARGET IS 12200 AND WE WILL SEE
A GOOD SQUEEZE ON MANY MAJORS.
IF NOT, THEN YOU KNOW WHAT TO BUY
Price at lower key level within the range again and should offer a good long trade shortly..
The Bears might still try to push the price a little bit lower -
so wait for a clear reversal pattern before going long.
Dont forget to trade correlating Euro crosses to maximize your daily returns.
see mataf.net if you need more info.
TRADING SMART No.6
BE AWARE OF BROKERS - BROKES ARE CROOKS
FX BROKERS ARE NOT CALLED BUCKET SHOPS FOR NOTHING. THERE IS A REASON FOR IT.
HAVE YOU EVER TRIED TO TRADE ON LOWER TIME FRAMES JUST TO SEE HOW THE PRICE TURNS 1 PIP FROM YOU TARGET
AND THEN GOES 30 PIPS IN THE RED..
OR PRICE HITS YOUR TARGET BUT YOU DONT GET THE PROFIT..
YOU THEN CONTACT YOUR...
TRADING SMART - ADVISE No. 5
WHY A MOVING AVERAGE IS THE ONLY INDICATOR YOU NEED.
MANY NEW TRADERS HAVE NO CLUE IF THEY SHOULD BUY OR SELL WHEN LOOKING AT A PAIR.
SOME ADD A TON OF COLORFUL AND COOL LOOKING INDICATORS
THAT GIVES MORE EXCUSES NOT TO TAKE THE TRADE THAN BEING OF ANY GOOD USE.
HERE IS WHAT TO DO. JUST ADD A MOVING AVERAGE. AS PRICE BREAKS AND...
TRADING SMART - ADVISE NUMBER 4
GET RID OF FEAR!
TRADING THE MARKET IS NOTHING SPECIAL BUT LETS BE HONEST. MOST PEOPLE HERE ARE GOOD TRADERS.
THEY CAN DEMO TRADE SUCCESSFULLY AND THERE IS NOTHING WRONG WITH THEIR ANALYSIS.
BUT THEY DO ONE THING. THEY FOLLOW PEOPLE HERE TO GET REASSURANCE AND CONFIRMATION
THAT THEY ARE NOT GONNA ENTER A TRADE THAT MIGHT BE ON...
TRADING SMART - ADVISE NUMBER 3
SELL THE SUCKER!
THERE ARE 2 THINGS YOU CAN DO TO MAKE MONEY EVERY DAY AND THIS IS WHAT YOU DO.
1. CHECK THE DAILY RETAIL SENTIMENT AND TRADE AGAINST THEM!
THIS IS A SURE WAY TO END UP ON THE RIGHT SIDE OF THE TRADE. IF 60% OF RETAIL TRADERS SELL THE EURUSD
- YOU BUY
IT IS AS SIMPLE AS THAT. AS LONG AS I HAVE TRADED I KNOW ONE...
TRADING SMART - ADVISE NUMBER 2
THERE IS AN HOUR IN THE MORNING DURING WHICH YOU CAN TAKE ALL THE PIPS YOU MIGHT NEED FOR THE DAY.
ITS CALLED THE CHINESE HOUR.
THIS HOUR HAPPENS AT 0600 UTC. ITS EXACTLY WHEN THE TOKYO SESSION CLOSE AND LEAVES DUBAI, SINGAPORE AND
SHANGHAI TO HAVE ONE HOUR OF ITS OWN UNTIL THE EUROPEAN OPEN.
THE KEY HERE IS THAT DUBAI WITH...
TRADING SMART - ADVISE NUMERO UNO
THE FIRST AND LAST HOUR OF EVERY SESSION IS WHEN YOU CAN ENTER TRADES WITH A VERY TIGHT STOP
- STEAL SOME NICE NUMBERS OF PIPS AND RUN
AS LONG AS YOU CAN SEE A CLEAR ONGOING MARKET SENTIMENT AND MOVE UP OR DOWN
YOU CAN EXPECT THAT MOVE TO BE COMLETED
(FIRST HOUR AND LAST HOUR )
SMART SHORT TERM TRADERS AND SCALPERS THEN...
A RELATIVELY FAST SHORT TERM TRADE SELL.
PLACE YOUR OWN SL LEVEL ACCORDING TO YOUR ACC SIZE AND DRAW THE LINE IN THE SAND =
NOT ACCORDING TO SET PIPS NOR A SET R/R -
ONLY ACCORDING TO MAKING SURE THIS IS A VALID TRADE OR NOT
Be patient, Sniper trade and time your entry (Sit on your hands as we do)
The Sterling will re-visit the buy zone below and it will then provide a good price to go long up to target.
See levels on the chart. Not exact but good enough.
Dont forget to give us your thumbs up if you agree and subscribe for updates.
Just a heads up!
Remember its earnings season
that means that the stock market carries
more importance than the US Dollar index !
and the stock market and USDX cant both rally at
the same time
(and if it does then something is dodgy so stay clear for
a few and let it settle)
If the earnings reports are good overall then we should
see the Dollar weaken...
Right now we have a clear bullish momentum, but based upon the larger swing count then we await to see a deeper pullback as well.
One only need to place wide stops to trade EURUSD both long and short and both trades will win at this point. It is just a matter of time to hit both target zones.
Flip a coin for being a Bull or a Bear. We trade the EURUSD on the...