Trade setups with the Yen pairs
Posted on Monday, April 5th, 2010 at 2:54 pm.
we are looking at all the Yen pair to be over bought and also the fact it hasn’t touch last week weekly pivot point. So Dear traders take advantage of this trade to come back too those prices on the 1hr chart. I’ve very confident it will hit that level of support and resistance. This trade method that we are mentioning here in this blog has a 80 percent chance of hitting that indicator. Because it didn’t hit it last week the possiblity has risen. We are going to see some really good trade setups on the Yen pair this week and so there is plenty of points in the market.
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.
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.
Reversal pattern EURUSD GBPUSD
Posted on Monday, February 8th, 2010 at 11:16 am.
A lot of the Markets are over bought and over sold look for the reversal and trade with a small amount you be able to benefit of these markets. In the Forex i’m looking at the EURUSD GBPUSD to trade to the 1hr gap for my first target if it bridge the 1hr gap then i’m going to the daily gap. Looking at the candle stick pattern it’s hitting a major support resistance level and reversing. If you decide to stay in the market longer than a few days i would recommend you use proper money management and trade with a small amount. EURUSD here are my parameter of the trade. Entry point 1.3683 stop loss at 1.3618 take profit at 1.3798 so it’s a 2:1 ratio set your trade and make some money.
USD gaining alot of Strength
Posted on Wednesday, February 3rd, 2010 at 8:43 am.
As you my know the EURUSD is in a over bought situation in the Forex market i believe it will continue the downward trend for majority of the week. I would expect alot of the pair to retrace after the New York session today. I assume that the markets are going to reach the level where the market is going to go to the extremes then you will see a huge pull back in the markets.
Most case senario in the Forex market is when the U.S. stock exchanges close alot of volume gets taken out of the market. Then you can see that markets shift there move and retrace if they are tied with the USD currency pair. So if you are a day trader you need to be aware of the big news announcements during the New York session.
As you may know the markets with always respect the major support and resistance levels so i expect the market how the USD is gaining alot of strength will go to the next major level then bounce off.
USDCAD are brother to Oil Prices
Posted on Tuesday, January 26th, 2010 at 5:29 pm.
You can see that Oil prices will correlate with the USDCAD pair in the Forex Market. The USDCAD is in a situation of being over bought and we will be looking for a break of a trendline and also look for a revesal pattern. It’s getting to the extreme level so a projected turn around price is 1.0746 if the market reaches that level with this currency get ready for a sell.
In the forex market when you are swing trading you only want to play with the extremes and know at that level there is great support and resistance so watch out for that market when it gets to that price.
