Possible top out
Posted on Wednesday, March 31st, 2010 at 1:58 pm.
UsdJpy is right now at a major s and r level day chart wise. Look for the ascending triangle or wedge forming 1 hour chart. We will be talking about this pair on tonight’s session. Make sure to attend if possible. Look for a breakout one way or the other. We had a nice one the other day, and I hope to have again an easy trade on this pair.
markets going crazy
Posted on Wednesday, March 31st, 2010 at 10:10 am.
All the JPY pairs did make some big moves last night in the forex market. They are going in too the over bought territory so as traders we need to get trade for some retracement trades. A few things we will look for is reversal patterns or sign of weakness that i want to come back to some moving averages so look out for that.
Wedging Pairs
Posted on Tuesday, March 30th, 2010 at 7:36 pm.
Dr. Blythe here,
Wedges are great formations where we use support and resistance lines and trend lines to show us the market movements. The EURUSD pair on the daily chart has set up a really nice wedge formation and well as the GBPUSD daily chart. Once we get the breakout we can expect some really large movements so keep an eye out.
continuation with the AUDUSD
Posted on Tuesday, March 30th, 2010 at 5:47 am.
The AUDUSD has really come back hard and is not going to weaken yet. This currency at this time has alot of momentum but now is showing signs that it has slowed down a bit. So we are either going to see 3 things happen with the AUDUSD currency pair. it’s either going to consolidate, retrace or continue the trend. You probably heard it a thousand time the trend is your friend. So at the moment with this pair i would look for reason for buy positions.
consolidation slow market what is the best thing to do.
Posted on Monday, March 29th, 2010 at 4:11 pm.
It’s time to wait for the market to make a move there is low volume in the FX market at this time but i’m focus more on the Yen pairs at this time i’m looking to trade the USDJPY GBPJPY EURJPY looking for the clear signal to short it but anything can happen in Forex it may pop back up and then we will have more reason too go short. The YEN markets have got into a over bought area or hitting major support and resistance levels so i’m going to wait on the asian session but i would expect the markets commit during the london session or the new york session and trade these pair back to the origination point of my trendlines.
NFP
Posted on Monday, March 29th, 2010 at 3:36 pm.
Dr. Blythe here,
Watch for the Non-Farm Payroll on friday in the morning. This news announcement usually has a large impact on the US Dollar related currency pairs. This is a friday that i generally take off, so i like to have my positions closed by New York open on friday morning. Good Luck and Happy Trading.
Usd Jpy
Posted on Monday, March 29th, 2010 at 1:56 pm.
Major consolidation. Just waiting for a breakout either way. If the move is Long, taking it near the WR1 for my tp. It is in a one trend two trend so if it breakouts short, going to the original trend. Every hour I will be looking at it until liftoff!
Major deciding point
Posted on Thursday, March 25th, 2010 at 11:11 pm.
We as traders that are expecting some really big moves in the forex. All i have too say about the traders i trade with know what things to expect in the market. I know that Dane is a pro with the EURGBP and the USDCAD understand the behavioral patterns of those markets. If you are looking for big amounts of pips Dave is the best by far and is really good with any of the JPY currencies. One of the more accurate trader i’ve ever met is Joey 93% winning percentage it’s better than any forex robot or EA out there because you will know why you are in the market. I love to swing trade and day trade but all of us traders really enjoy making lots of pips but more importantly sharing our knowledge too other traders around the world. Think like a Pro and trade like a Pro join us in our next session.
GBPUSD
Posted on Thursday, March 25th, 2010 at 5:48 pm.
The GBPUSD has just completed the 4th wave of the Elliot Wave Theory. As of now I am waiting for confirmation that the 5th wave is beginning and will be taking this pair short to around 1.46 even. I have already taken several positions on this one and am awaiting a retest of the daily pivot point before getting in at around 1.4882. I will then be looking for just under 300 pips for a profit target on that position not to mention multiple positions along the way, looking to bank in over 1000 pips on this Currency move.
huge moves what is going to happen next in the forex
Posted on Wednesday, March 24th, 2010 at 10:02 pm.
There was some really big moves in the forex this last london and new york session in the forex. Few things we are looking at is possible retracement or retest and continuation trades. What we are looking for the market to set something up for us or looking for candle patterns waiting for the market to pick a direction. Forex education is probably the most important thing right now because if you go out there and trade on your own possible to lose your live account is at 95% and when the markets are flat and have no direction most people still would trade. We are here to tell you what kind of market we are up against. Covering trade setups and execution is obviously the most important thing to make money in the forex.
