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.
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.
reopenning of the forex market.
Posted on Sunday, January 31st, 2010 at 12:45 pm.
Look for markets retrace back to the weekly pivot point at the beginning of the week. The Forex market will reopen here in a few hours. Markets that are trending like the EURUSD will only pull back up just a little then continue too the 5th fib level getting in to the over sold situation. So at the end of this week we can expect alot of market to show us reversal patterns or trendline breaks. The USDCHF will do exactly the oppisite as the EURUSD and mirror that currency pair they follow each other but also beaware there may be a small lag so make sure you enter a trade in one of the market that the setup is completely declared itself with these currency pairs.
GBPUSD Weekly Pivot Trade
Posted on Tuesday, January 19th, 2010 at 3:59 pm.
In today forex market GBPUSD has broken upward too the first Weekly resistance level and based on the candle stick formations price is going to intend to work it’s way back to the Weekly pivot point which is the price of 1.6249. The reason why i think it will go to that price is that it has a 80% chance of going back to that price and it hasn’t touched it this week and looking at the 4hr chart you can see price is showing a reversal. This is a good short oppurtunity because looking at the fundamental side of things you can see the Pound ecomony is weaking. So if price closes 1.6331 i’ll look to go short to the Weekly Pivot Point. If price closes above 1.6415 then i will go long and trade to the next resistance level or the 4th fib level on the day chart.
