The USD CAD is on the way up!
Posted on Tuesday, May 4th, 2010 at 5:57 am.
Dr. Blythe here,
Hey guys, on the daily charts there was a great break out of a long term trend line. This currency pair is setting us up for a nice move up. Trading in the Forex markets can be tricky but sometimes the trades are easy to spot. I will be watching for another entry off of the pop trade. So happy trading and get those pips!
Side ways market what too do
Posted on Thursday, April 29th, 2010 at 10:58 pm.
As you can see the USDJPY is a perfect time too use the method called the box trade and look for the break out and you can use the trading tool Magic stick for this situation. it’s very easy to trade this you put a line on the top using the buystart command and putting your stop loss at the last swing point on the bottom side as buysl command and buytp at the next weekly pivot point. On the bottom draw a line and put sellstart as the command and then put your stop accordingly and there you go you don’t have too stay up all night and wait for the confirming candle stick and let the magic stick do it’s thing. A friendly reminder make sure your computer doesn’t go into the sleep mode or if you have our virtual server you won’t have too worry about a thing just make sure magic stick is turned on and you see a smilely face and the magic show start.
Retrace and then consolidates what is best to do
Posted on Tuesday, April 27th, 2010 at 11:04 pm.
Forex is a market where you are able to see big moves and you probably say them today. One thing to consider by trading Forex is that when you are trading and when you best feel the market fits the setups that you are looking for. You need to make sure of a few things understanding volitality, Behavior patterns, and time they move the least and most. It’s always best to trade the obvious this is a principle that Jesse Livermore talked about when we was trading stocks back in the 1920′s and was able to make over 200 million dollars in his trading career. It’s best to understand that you really don’t have to trade every day trade when you feel the best about the market and when the market moves and make sense too trade. So look for the EURUSD and the USDCHF to break out side of their consolidation you can cheat by using magic stick.
Consolidation and the Cad
Posted on Tuesday, April 13th, 2010 at 3:59 pm.
The UsdCad right now is setting up for what I believe will be an excellent breakout. On the day time frame, for the last 5 candles we have had lots of downward pressure created from the quick downward swinging market. This is very visible on the hourly time frame, semi slow upward movement followed by huge red candlestick dropping down, which has created those downward pushing big wicked candles on the daily chart. This combined with a very nice little consolidation area tells me we should have a breakout very soon, and if it goes short, we should be able to take the trade for a pretty large profit. Two things I’m using for a breakout both on the hourly time frame. First, there is a clear trendline with points of support on the 7th, the 9th, and just two hours ago. If it breaks the trendline I will consider entering. Second yesterday’s low which is at 1.0009, if we get a close beyond there, I’m in. Now it’s just a waiting game for that breakout, good luck with this one and I wish you guys the best with your trades!
Eur Gbp, BREAKOUT
Posted on Thursday, April 8th, 2010 at 1:55 pm.
This currency has made a few fakes at going back against the trend. It has really had some pretty serious moves against the trend and has somehow continued onward. Currently we are about 4 hours from the new darma and pivot points on for the 9th of April. The one hour chart seems to have had a double bottom movement with two areas hitting the same s and r line. Now this still needs to complete the bounce movement for me before entering any larger positions, but I am really looking at this to retrace before the end of the week. We should see a large defiant candlestick breaking the new daily pivot and the 13 ma. I hope to have many trading opportunities all the way to the 1 hour gap. The area that I am looking to trade back to point wise is going to be between .8800 – .8850… I have entered one rubber glove trade hoping that this is the bottom of our movement, if it breaks outside of the current low of .8740 I will jump back out. One more thing, if it does breakout and go the opposing direction then we are expecting, don’t hesitate to sell this pair but I hope we will be able to take a lot more pips if it goes long!
Commodity Currencies!!!
Posted on Thursday, April 8th, 2010 at 9:35 am.
The NzdUsd had a very pressurized white candle on this week on the daily chart. This move looks to be ready to continue given the current candlesticks on the hourly time frame. Also the UsdCad hit the hourly gap it really bounced off, now has broken the 13 ma. AudUsd also had a very solid break of the 13 ma. I really like these setups right now for a long term continuation of this swing. Overall we should have a lot of easy pips to pick up on.
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.
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!
NZDUSD BOX trade
Posted on Tuesday, March 2nd, 2010 at 9:31 am.
Beautiful box trade on the NZDUSD high is 0.9105 and low is 0.9015 look for the break out and trade to the next weekly pivot level. When market tend to consolidate usually by nature there is pressure that is built up. Looking to trade level to level. You will learn that his trade method is very simple and easy to understand with any market out there. you can trade in the range but you want to be more conservative but the trade you should be interested in is the break out probably will see this happen shortly.
bank holiday in the Forex
Posted on Monday, February 15th, 2010 at 8:37 pm.
Today has been a really quiet day in the forex market. The markets have been going sideways and it’s best to wait for the right set up too get in the market. The Asian markets are picking up so you will start to see some good positions to arise later in the evenings. The markets tend to be very quiet during holidays and you will be able to take advangtage of the market and look for more of break out senarios. I expect some really good setups to happen this week and a good time to make some really good money.
