GBPJPY See where we are! - forex news trading guide

GBPJPY See where we are! ~ forex news trading guide

[quote=Articulate;4548624]



GBPJPY moves is usually 1000 pips per movement with a pause every 500 pips. The 1000 pips support and resistance points are depicted by the yellow lines, while the 500 pips resting points are shown by aqua color.



The red zone on the 14 days period RSI is the sell zone, while the blue zone is the buy zone. The horizontal line on the daily RSI tells you when a movement is weak or about to reverse. The daily chart is the best guide for this style.


The charts are attached. Have a colourful weekend![/quote]





I mentioned that the above posting is classical. See where we are on the weekly and daily charts. For short term traders, I attached H4 charts. I intend to post GBPJPY charts at the beginning of every quarter. Expect another one in May 2011
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The retrace is almost complete - forex news trader mt4

The retrace is almost complete ~ forex news trader mt4

The retrace which started when price reached around 1.60000 in August is almost complete. I.60000 is the target now. How many days are we going to spend between 1.58385 and 1.60000? I dont know. What I know is that a daily candle above or below the box will signal the next direction.



This daily chart has been valid since August. I will update the daily chart whenever we move out of current box. The daily chart gives the trend, which is still up, the H4 gives signal of when to trade and M15 is for entry.



I have alway said it trading within the concrete zone is the best option for any retail trader who desires success. Afterall, if your Account size is $1,000.00 and you trade 0.10 lots, you only need to make $100 a month (about 100 pips/month or 5 pips/day) to grow your account by 10% monthly. If you are able to achieve this regularly within a year, you will outperform most Funds/Fund Managers.



If you have the above mindset, your success is almost guaranteed in this highly volatile endeavour.



Happy trading!
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USDCHF Analysis - forex market moving news

USDCHF Analysis ~ forex market moving news

USDCHF is currently close to its historical low level of 0.96360 recorded in March 2008. The monthly and weekly candles however show that the pair is still descending. This could be attributable to the general weakness of USD against most major currencies. I must admit however, the pair is very tempting for long. The best option if you are trading this currency long-term is to wait for the trend reverse and follow it. A weekly candle close above 0.98963, which is a very strong support will confirm the reversal. This is an area I will be watching


For a short term trade the sell signal was given by M15 on 0.97161. The best option for short term trading is to wait for another signal sell signal on M15.

The points are clearly indicated in the charts below
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GBPUSD End of 1st Quarter (updated) - forex trading gold news

GBPUSD End of 1st Quarter (updated) ~ forex trading gold news

The cable broke out of the concrete zone and the pullback currently sits pretty well on the concrete zone both on the daily and weekly charts. The target appears to be 1.70000 to retest the highest point in August 2009. This will then create a new range of 1.64000 to 1.70000. The weekly candle will confirm a breakout from any range.



I attach the weekly, daily and H4 charts in support of the above analysis



Enjoy your trading for the rest of the week!
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The blue zones - forex market gold news

The blue zones ~ forex market gold news

See where we are on the blue zones. It is always useful to plan ahead. I will be updating the blue zones every two weeks
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Concrete Zones - quantina forex news trader myfxbook

Concrete Zones ~ quantina forex news trader myfxbook

I posted the charts earlier. I re-post again it to show that the analysis is still valid until the range between 1.60000 to 1-53214 is broken either way

For now price will only move to the next level if the daily closed above the resistance line at around 1.58535 or move back to where it came and close below 1.57147.

It is always better to trade within established concrete zones. That way, you will be insulated from the noisy signals all around you.

That is how I trade. The daily shows me the trend, H4 gives the signal and I use M15 to enter my trades. If you trade this way you might miss some trades, but you will only take first class trades.
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