The New Week of trading
Posted on Monday, April 26th, 2010 at 7:09 am.
The amazing thing with Forex magic stick if you have it drawn and turned on for the new week to start and breaks the line it’s ready too go. Trading Forex with this tool has relieved alot of stress for tons of traders. This week in Forex probably will be an exciting week in trade because alot of pair are at some major levels or just recently just broken their major levels. We are looking for alot great trade opportunities so get ready to use magic stick and make some money.
EurGbp Breakout
Posted on Wednesday, April 21st, 2010 at 3:42 pm.
Dr. Blythe here,
Hey guys, I am watching the EurGbp currency pair with great anticipation. There is a large pendant formation on the daily chart this is about to breakout. This will be a great trading opportunity this week. I am currently waiting for the daily candle to close and confirm the breakout. There is a very strong s/r line at 0.8646 which will be a good place to target. Happy Trading.
Eur Usd Wedge
Posted on Wednesday, April 7th, 2010 at 8:26 am.
Dr. Blythe here,
There is a very nice wedge formation on the Euro US dollar pair. This wedge has continued to gain strength and pressure. The wedge has been forming since late 2009 and continues through today. I am excited about the breakout on this pair for a trade back to the 38.2 fib level on the retracement tool. Remember plan your trade, trade your plan. We have planning the breakout but we need to wait for the confirmation on the breakout. 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.
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.
Arrow Formation on the GBPJPY
Posted on Monday, March 15th, 2010 at 3:33 pm.
Dr. Blythe here,
We talked about this formation in the chart therapy over the past few days. This is another learning moment in your forex education. Arrows are trend line formations that show two trends, one trend up and one trend down. Usually one will be a longer term trend and the other a short term trend. This arrow on the Pound Yen pair is very strong and historically this pair loves this formation. When we get the breakout on this pair there is going to be a really good trade, either way it decides to breakout. Happy Trading.
Euro Pound Pair Overbought
Posted on Wednesday, March 3rd, 2010 at 6:45 pm.
Dr. Blythe here,
Hello again! The Euro Great British Pound currency pair is in the overbought position on hourly and daily charts and we are waiting for the retracement. I am waiting for a break of 0.9051 and then i will take this pair short. This may happen in the next few days so keep your eyes on it. This pair has also not yet touched its weekly pivot point so that is another indicator pulling at the market. Happy Trading.
The Trend is your Friend
Posted on Friday, February 5th, 2010 at 3:32 pm.
The market from the begin of next week should be continuing the major trend. The NFA Reports acted really different this time. If you are looking for safe trades with the Forex during news there are time when it looks like its going to go one direction then it is easily to get in the wrong direction with the currency because it’s like a head fake.
With the Non farm pay roll reports it’s always good to sit on the side line and let the market settle down then make your trade with the trend. I would believe alot of the pair will go too some extreme levels so if you see it pop up don’t get faked out and don’t chase the candle a good chance it will come back into the original trend.
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.
USD Strength
Posted on Friday, January 29th, 2010 at 12:51 pm.
Dr. Blythe here,
The United States Dollar has gained so much ground against the Euro and the Swissy over the last week. The EURUSD pair reached 1.3895 and has not been this low since early July of last year. Keep your eyes open for a retracement next week in these pairs and a probable push to their respective weekly pivots. Happy Trading.
