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 on GbpJpy
Posted on Wednesday, April 21st, 2010 at 3:49 pm.
Dr. Blythe here,
In the last Chart Therapy session we talked about watching for the consolidation breakout on the Pound Yen Forex currency pair. I have a breakout box setup and i will give you those levels. The top of the consolidation is 144.82 and the bottom is 139.20. These are great for big pips guys. If it breaks up there should be some really big moves to watch for. Happy Trading
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!
EurGbp current trading setup
Posted on Tuesday, April 13th, 2010 at 3:47 pm.
Right now the market is about 1 hour from getting our new pivots for Tuesday the 14th of March. The Eur/Gbp is completing a double bottom that it has been forming for the last two days. This is visible on the hourly time frame in the same support hit twice and on the daily time frame as two apposing candles with major upward pressure. I really like the setup on this right now and am simply waiting for the neckline breakout on the hourly time chart and I will trade back to the fibo level or the daily gap.
Consolidation on the GBPUSD
Posted on Wednesday, April 7th, 2010 at 8:30 am.
Dr. Blythe here,
Guys this is an exciting setup we have here. The pound dollar pair is giving us the start of a consolidation. I will be looking to go long on this pair because we have been oversold from some of the longer term moving averages. Hopefully we will see this breakout the end of this week or the beginning of next. Happy Trading
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!
Yen Consolidation
Posted on Tuesday, March 23rd, 2010 at 11:08 pm.
Dr. Blythe here,
How about the consolidation on the USD JPY currency pair over the past few weeks? The longer the market consolidates, usually the better the move on the other side will be. So keep your eyes on this pair. Also continue your forex education every chance to get by joining us in Chart Therapy for the open of the major sessions, London, New York and Tokyo.
Finally forex moves in a easy way
Posted on Tuesday, March 23rd, 2010 at 8:01 am.
Sunday and monday their was some good moves but looking for a easy and predicable market. It’s been in some consolidation sometime and looking at the bigger picture we are finally making moves that make sense. It’s easy to make money in forex if you have a direction i thing people get too eager too trade so they tend too over trade the forex market. It’s good to get properly educated when learning forex trading because if you don’t know how to read the market it’s easy for people to lose money and in our family of traders we want every single one make consistent money with the forex.
BIG moves slowing down and continuing in FX market
Posted on Tuesday, February 16th, 2010 at 1:44 pm.
We had some really beautiful moves because the bank holidays are over and some amazing volume produced in the market. Fx if we see consolidation for 1 or 2 week we can get ready for some big moves. Alot of setups that we have projected as pro traders have worked out in our favor. It’s slowing down in all the markets because volume is low but we do expect some great setups to happen tonight during the Asian session and continuation of trend. Major Support and resistance levels have been broken look for small retracements and look for continuation to the next major level. Happy Trading.
