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.
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.
Forex is Slow today in the markets
Posted on Tuesday, February 2nd, 2010 at 3:30 pm.
As you can see in the Forex markets after the new york session that markets has slowed down alot and creating flat markets. If you are a day trader you can draw a consolidation box on the high and low of the london and new york session with the currency pairs that don’t have any direction right now then look for a break out. Most pairs usually have this rythm at this time of the day because there is not alot of volume in the market. It’s really important that you can see either the main trend or having a good direction where the market is going. You want to stay away from flat markets you don’t want to put in a trade or add a position if there is nothing there. Forex markets should be picking up speed later tonight during the Asian session.
