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I didn’t know we have smokers over here, its always go to know you can find some cool smokers on the FOREX board.(:
First just let you know that in most part I don’t understand when you guys write with short cuts.
They give you the demo for 30 days but if after 2-3 months you are even you can go live. Remember when you start with real money the psychological will kick in, so you won't trade like in the Demo account but you will master the platform and all the commands.
Also you say;" "it's all up to you" that statement is equal when someone say "it's just my opinion" so I will never say that (:
You will be surprise but if you say or make more the 20% profit a year on you capital I can say you are doing an excellent job on your trading.
On my best years I do average of 35%40% but my average is around 25%+ on all my capital but I trade many market and most of my gain come from commodity market and mostly on the energy sector over there it a $20000 for a minimum contract.
Regarding the wheeley I did some crazy stuff on my life and motorcycles are a big part of my life, and I have a very nice collection.
You can check some of my custom's I think I submit them before on my board you have to look for them.
Have a nice weekend Tsafi
For beginners open Forex Demo account.
Its imported before you put real money on the forex you must master the forex and make money on the demo account ,only then you should rock&roll with real money.
http://www.fxcm.com/open-free-100k.jsp
http://www.gftuk.com/land/index.asp
http://www.ac-markets.com/trading-software/advanced-trader.aspx
Forex Technical Review 5/02/08
EUR/USD
The key Fibonacci level of 1.5500 was breached and the bearish move is now validated with a full bar on the 4 hour chart. The momentum is very bearish and it appears that the next target price might be 1.5390. going short appears to be favorable today.
GBP/USD
The daily chart is showing that the cable is still floating within the bearish channel with moderate bullish momentum. The 4 hour chart is showing that the bullish momentum is slowly diminishing, and a bearish signal was seen on the Slow Stochastic. Selling on highs appears to be a smart thing today.
USD/JPY
The bullish channel on the daily chart still remains intact, as the pair now floats on the bottom barrier. The momentum is bullish and very strong. The hourlies support the bullish notion, and it appears that the pair still has much more room to run. Going long is a preferred strategy today.
USD/CHF
After a relatively long dwell in neutral territory, the pair shows first signs of bullish momentum on the 4 hour chart. The daily chart is slowly joining the bullish sentiment, and it looks like the next target price might be 1.0530. Going long with tight stops today.
Crude Oil
The momentum that was created by the bearish breach through the bottom of the channel in the daily chart is growing stronger. The 4 hour chart is supporting the very strong bearish notion, which creates a great opportunity for forex traders to join the trend created by that very strong signal.
JPY
the Yen still remains weak against the greenback owing to rising U.S equity markets and more confidence in the Fed's rate stance prompting investors toward the higher yielding dollar.
With stocks heading north, a probability of a resurgence of the carry trade once again hit the market. A carry trade is when investors use a currency from a country with a low cost to borrow such as Japan and invest in higher yielding currencies from a country with a higher interest rate such as New Zealand or Australia.
In addition, yesterday's Labor Cash Earnings and Vehicle Sales were increased from the prior month. However it remains to be seen whether this strength can continue since inflation is expected to take a big toll on Japanese consumer demand.
Today Japanese markets are closed due to the national holiday. The JPY trade will probably remain light ahead of an extended holiday from the weekend, with markets closed also on Monday and Tuesday.
ARIGATO(:
GL
Tsafi
Yesterday the EUR experienced a rising trend against most of its currency rivals. Although it saw bullish trends vs. the USD and the JPY, it still depreciated against the GBP. The main reason for the EUR's bullish trend was yesterday's rate cut in the U.S. The U.S. rate cut led to a strong increment vs. the USD, moreover strengthening the EUR in other pairs. the Consumer Price Index Flash Estimate expressed a slight lowering of the inflation rate, which should have had a negative influence against the EUR. In addition, the European Central Bank President Trichet, spoke yesterday stating that for the first quarter of 2008 the Euro-zone economy appeared to be strong and healthy, and declared that he expects the economy to be "reasonably resilient" for the next few months. He continued saying that the International Monetary Fund is forecasting a 1.4% growth for the Euro-zone this year. He ended his speech with dismissing the proposition of a future interest rate change, saying that the steady 4.00% interest rate enables the ECB to control inflation.
Today, the first of May, is the European Labor Day. This will bring the European business activity to a minimum. Therefore, very low liquidity is expected today. i will keep my eyes open for developments from the US. These developments should be the main reason in determining the EUR's development today.
but shorting the EUR is a risky move unless you play the day trading game like me.
more to say i think the US wont hold and will push lower soon and will bring the EUR for a bit stronger but you need to stay tuned .
The end of Gold time the rise of OIL time (:
Forex Technical Review 5/01/08
EUR/USD
After several days of drops, the pair is showing a strong bullish signal on the daily chart. The daily Slow Stochastic is showing a bullish cross, and the 4 hour chart is supporting the bullish notion. There seems to be fresh reversal momentum that might take the pair back to the 1.5720 level.
GBP/USD
There is a bearish channel forming on the 4 hour chart, as the cable now attempts to breach through the upper level. If the breach validates, there could be much stronger bullish momentum created post breach. The 4 hour chart indicates that the possible breach might be quite imminent.
USD/JPY
The narrowing bullish channel continues, as the pair now floats near the bottom barrier of it. 103.10 should be a very strong support and a failed breach should probably stir fresh bullish momentum. You should wait for a dip around that support level before considering a long position.
USD/CHF
The daily chart is showing flat consolidation around the 1.350 level with no distinct price direction. The 4 hour chart is showing mixed signals, and the daily chart is dwelling in neutral territory. Traders are advised to wait for a clear signal on any direction or keep out of that one today.
Crude Oil
The daily chart is showing that the bearish breach through the channel has been validated, and that the bearish momentum created by that breach might have enough steam to take Crude Oil back to the 112.00 zone before the weekend. We hace a great opportunity to take advantage of a very strong technical breach with high profit potential.
Economic News
USD
The USD reversed its gains vs. the EUR yesterday as traders concluded that the FOMC Statement that came right after its Interest Rate policy meeting left the door opened for further rate reductions. Shortly after the Interest Rate announcement, the greenback dropped 0.4% to a low rate of 1.5637. With the threat of growth cooling further, the FOMC trimmed the Interest Rate by 25bp to 2% and stated that the financial markets remain under considerable stress.
The greenback has been receiving support after the recent stabilization of the financial markets in the US. Although the sentiment towards the dollar has significantly improved after yesterday's various positive US data, the Fed members still continue to express their concerns regarding the growing inflation in domestic markets. Tight credit conditions and the deepening housing contraction are likely to continue, weighing on US economic growth over the next few quarters. However, despite these cautious projections for economic activity, the market took the quarter point cut in stride with confidence that the Fed would now turn to a neutral policy stance to monitor inflation and financial market conditions.
Looking ahead to today, after the effect caused by the Interest Rate reduction, there is more intriguing data scheduled to come out. During the day, traders will primarily be concentrated on the ISM Manufacturing Index - a leading indicator of overall economic performance. This indicator measures the activity level of purchasing managers in the manufacturing sector and reflects the inflation experienced by them.
A lower than forecasted print should produce bearish momentum for the USD, as it would be clear proof that the world's largest economy is still in a stage of contraction. On the other hand, a reading in line or above expectations isn't likely to spark much reaction as traders will be anxiously waiting for Friday's Nonfarm Employment Change.
Forex risk management strategies (for beginner`s)
basic strategies for controlling risks while trading Forex
The Forex market behaves differently from other markets! The speed, volatility, and enormous size of the Forex market are unlike anything else in the financial world. Beware: the Forex market is uncontrollable - no single event, individual, or factor rules it(no pumping). Enjoy trading in the perfect market! Just like any other speculative business, increased risk entails chances for a higher profit/loss.
Currency markets are highly speculative and volatile in nature. Any currency can become very expensive or very cheap in relation to any or all other currencies in a matter of days, hours, or sometimes, in minutes. This unpredictable nature of the currencies is what attracts an investor to trade and invest in the currency market.
But ask yourself, "How much am I ready to lose?" When you terminated, closed or exited your position, had you had understood the risks and taken steps to avoid them? look at some foreign exchange risk management issues that may come up in your day-to-day foreign exchange transactions.
* Unexpected corrections in currency exchange rates
* Wild variations in foreign exchange rates
* Volatile markets offering profit opportunities
* Lost payments
* Delayed confirmation of payments and receivables
* Divergence between bank drafts received and the contract price
There are areas that every trader should cover both BEFORE and DURING a trade.
Exit the Forex market at profit targets
Limit orders(if you trade penny market you know how the Limt work), also known as profit take orders, allow Forex traders to exit the Forex market at pre-determined profit targets. If you are short (sold) a currency pair, the system will only allow you to place a limit order below the current market price because this is the profit zone. Similarly, if you are long (bought) the currency pair, the system will only allow you to place a limit order above the current market price. Limit orders help create a disciplined trading methodology and make it possible for traders to walk away from the computer without continuously monitoring the market.
Control risk by capping losses
Stop/loss orders allow traders to set an exit point for a losing trade. If you are short a currency pair, the stop/loss order should be placed above the current market price. If you are long the currency pair, the stop/loss order should be placed below the current market price. Stop/loss orders help traders control risk by capping losses. Stop/loss orders are counter-intuitive because you do not want them to be hit; however, you will be happy that you placed them! When logic dictates, you can control greed.
Where should I place my stop and limit orders?
As a general rule of thumb, traders should set stop/loss orders closer to the opening price than limit orders. If this rule is followed, a trader needs to be right less than 50% of the time to be profitable. For example, a trader that uses a 30 pip stop/loss and 100-pip limit orders, needs only to be right 1/3 of the time to make a profit. Where the trader places the stop and limit will depend on how risk-adverse he is. Stop/loss orders should not be so tight that normal market volatility triggers the order. Similarly, limit orders should reflect a realistic expectation of gains based on the market's trading activity and the length of time one wants to hold the position. In initially setting up and establishing the trade, the trader should look to change the stop loss and set it at a rate in the 'middle ground' where they are not overexposed to the trade, and at the same time, not too close to the market.
Trading foreign currencies is a demanding and potentially profitable opportunity for trained and experienced investors. However, before deciding to participate in the Forex market, you should soberly reflect on the desired result of your investment and your level of experience. Warning! Do not invest money you cannot afford to lose.
So, there is significant risk in any foreign exchange deal. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions, that may substantially affect the price or liquidity of a currency.
Moreover, the leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of your initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin call within the time prescribed, your position will be liquidated and you will be responsible for any resulting losses. 'Stop-loss' or 'limit' order strategies may lower an investor's exposure to risk.
Trade like a technical analyst. Understanding the fundamentals behind an investment also requires understanding the technical analyst. method. When your fundamental and technical signals point to the same direction, you have a good chance to have a successful trade, especially with good money management skills. Use simple support and resistance technical analysis, Fibonacci Retracement and reversal days. Be disciplined. Create a position and understand your reasons for having that position, and establish stop loss and profit taking levels. Discipline includes hitting your stops and not following the temptation to stay with a losing position that has gone through your stop/loss level. When you buy, buy high. When you sell, sell higher. Similarly, when you sell, sell low. When you buy, buy lower. Rule of thumb: In a bull market, be long or neutral - in a bear market, be short or neutral. If you forget this rule and trade against the trend, you will usually cause yourself to suffer psychological worries, and frequently, losses. And never add to a losing position.
GL
Tsafi
Forex Technical Review 4/30/08
EUR/USD
After bottoming at 1.5545 yesterday, the pair now shows local signs of a correction. The 4 hour chart is showing that the bullish move might not have enough steam in it, and that the bearish trend will probably resume before the weekend. Selling on highs is the best thing you can do ,show me the money.
GBP/USD
The daily chart is showing the early stages of a bearish channel, as the cable now floats at the bottom barrier of it. A break beyond the 1.9610 will validate the bearish trend and will give the pair a next target price of 1.9535. but you should wait for the breach before shorting the pair.
USD/JPY
There is a narrowing bullish channel forming on the daily chart, as the pair now floats around the bottom barrier. The local momentum is still moderately bearish which makes it preferable , look for a good entry price for a long potion.
USD/CHF
The bullish momentum which was created by the breach through the channel is slowly calming. The pair is shaping into a flat consolidation mode with no fresh direction signals. you need to wait for a clear sign before going in on this one.
WILD - Crude Oil
There has been a sharp breach beyond the bottom barrier of the sharp bullish channel. The Slow Stochastic is showing a fresh bearish signal in the form of a D top which indicate a very strong possible bearish corrective move. Forex traders must wait for the breach to validate before taking the short position.
Bob….first thanks for the kind words.
But let me tell you some about me, you say "Can you say Teamwork" most of the member that know me mostly on my board know that I am not a Teamwork work player I am what you call a solo player,I did it all work for the pro`s trade for my self from penny` to …… Commodity futures and touch on all aspects of the market, teach economic and TA at the university and still do it from time to time.
Regarding the chart its easy you just interrupted the chart with the tools you get over the years on the learning, I see so many bad chart's on the HUB mostly from penny trader calling on a penny complicate indicators or pincher` or other MamboJombo TA stuff like it was IBM stock.
You say;" I developed a system for trading stocks that so far seems to work just as well on ForeX"
My rule number 1 if your system work never change it and that's what I am doing for almost 14 years .
I used to be much more active on the Hub more on the aspect of teaching and call plays, but most of the trader on the Hub plays small money or post 50 times a day. (How they can concentration on trading with all this posting I don’t know)
But these days I am extremely busy at my work (working for ML) and have less time for the HUB (time here is 4 am show you how crazy it is for me).
Posting chart is easy submit your link image chart and put the code like this
[c h a r t]www.your imagelink.com.gif[/c h a r t ] (no space at the [c h a r t] )
GL to you
Tsafi
P.S
How can you say; "I got bored with stocks" stokes are the market soul (:
And I thought there is love between the American and the Canadian (:
Here is my solution
Wipe all Arabs countries included Israel and get control on that oil.
Kill the República Bolivariana de Venezuela president.
Give unlimited supplies of food to Africa.
Russia? Give them free caviar and there goes your oil problem (:
Oil will go highr
Forex Technical chart Review 4/28/08
Oil
Oil is a bit over 116 target as momentum is still in force so news can move it pretty easily.
for short term it failed attempt to breach through the bullish channel from the bottom section has caused the bullish momentum to regain its strength. Crude Oil is now showing extremely strong bullish momentum as seen by the hourly oscillators. This is a great opportunity for us to join the trend, with fresh all time highs being breached on a daily basis
EURO/Yen
The EURO to Japanese Yen ratio chart reached resistance and fell back last week
Yen
Yen on its own as reference. Now near the 38% retrace on Fib`.
USD
broke out of the triangle, two eventual possible targets show.
EUR/USD
After bottoming at the key Fibonacci level of 1.5550, the pair is showing regenerated bullish momentum. The 4 hour Slow Stochastic is showing a bullish cross, and it appears that on the hourly level the next target price is 1.5680. Going long
today
GBP/USD
The bullish momentum which was created after the breach of the flag is slowly diminishing. The daily chart is showing a increasing bearish momentum and the hourly Slow Stochastic is strengthening the bearish notion. With an estimated target price of 1.9710, will go short today.
USD/JPY
The bullish channel on the daily chart is getting tighter, and the pair now floats near the upper section of it. The general momentum is very bullish, yet the hourlies are indicting a possible correction. It appears that buying on dips should be the best strategy today.
USD/CHF
The bullish momentum the pair has shown since the breach of the channel on the daily chart continues. The daily Slow Stochastic is showing the continuation of the trend, and the hourly studies confirm the bullish notion. Going long today.
Have a good trading all and SHOW MY THE $$$$$
GL
TSAFI
The need money and they will keep selling shares to cash in money as convertible
This is a TA memo I get every morning on the place I work, I just rebuild it and give you guys to short ver`
You cry to much, come to Israel you will pay $7 a gallon and that's normal over here.
Higher oil /gas prices for all I care they can go up to $20, I am well prepare for you guys to suffered the way we do (:
Whats techy review? you meant tech ? if so i don't get it
You need a continuousness on the chart 1 day don’t give a strong reversal confirm this move is to extreme and can show you how this market swing hard do to some fundamental hype, the only way to play this market is in to the short term you should look also at the OIL and Gold commodity and see how they have a direct impact on the dollar.
High oil/gold price are = to a weak dollar and I think the oil is just resting and the Gold will streak again .
Forex Technical Review 4/25/08
EUR/USD
The pair dropped more than 300 pips in the recent two days and is now floating around 1.5650. That level is a key Fibonacci level, and a validated breach trough that level will validate an additional bearish move. The failure of this attempt will most probably resolve in a moderate bullish correction.
GBP/USD
The cable has been showing a strong bearish price movement in the past 3 days and is now traded around the 1.9700 zone. The daily chart still shows a very bearish Slow Stochastic with no visible crosses expected. The 4 hours RSI confirms the bearish momentum, and it appears that the next target price might be 1.9610.
USD/JPY
The daily chart is showing the formation of a very accurate and distinct bullish channel, as the pair now floats in the middle of it. The daily Slow Stochastic and the RSI are pointing to very bullish grounds, and no correction appears to be in sight. Next target price should be around 105.10 and going long looks like a preferable choice today.
USD/CHF
After a very long period of range trading with no distinct direction, the pair has made its bullish breach, and appears to have established a starting point for a relatively strong bullish trend. The Slow Stochastic of the daily chart confirms the bullish momentum, and being on the buy side appears to be the right choice today.
Crude Oil
Oil has been moving within a very accurate bullish channel with very strong momentum for a while now. Today was the first bearish breach beyond the bottom barrier of it. This is marking a potential bearish corrective move, so for forex raders might have a great opportunity to go short with tight stop, and catch that move at a relatively early stage but be very caution if you trade oil on big contract`s .
A Temporary fix, oil is just hitting up with the global food crisis do to energy bio alternative and the American policy with the OIL its only a matter of time before you will see a global panic regarding energy, No Gold or Silver or any other commodity has more effect then Oil.
Oil pricing too much, too fast, yes indeed but with high Gold price and high oil price the $ wont recover so fast .
The end of the world is coming(:
Forex Technical Review 4/23/08
EUR/USD
After a touch at the all time high of 1.60, and a failed attempt to validate a breach, the pair consolidates around 1.5980. The daily oscillators are very bullish, and indicate the continuation of the bullish trend. The hourlies are still moderately neutral and a local correction might be in place. Waiting for the validated breach beyond 1.60 and swing should be a nice good strategy for today.
GBP/USD
The 4 hour chart is showing a strong bearish cross on the Slow Stochastic and RSI is floating around 50. The daily chart is in neutral territory with no distinct signal on any side. Waiting for the bearish momentum to grow before entering the market could be a good choice today.
USD/JPY
There is a very distinct bullish channel forming on the daily chart, as the pair now floats in the middle of it. The daily Slow Stochastic is bullish, and the hourlies confirm the bullish notion. Going long today.
USD/CHF
The range trading the pair is going through in the past month is forming into a horizontal narrowing flag, as the pair now approaches the end of it. The momentum is moderately bullish, and the Bollinger Bands are very tight, which together indicate a potential move quite shortly .Still i will advised to wait for the breach through the flag before swinging, as it might be quite strong when it occurs.
Crude Oil
The violent bullish trend continues at full steam without showing the slightest pause for consolidation. A fresh all time high has breached on a daily basis, and the end doesn't appear to be close. i will advised to join the bullish trend with relatively loose stops, until the first signal of a slowdown is received.
Here let your son to listen to this 2 times a day before he goes to sleep, he will love it(:
http://www.stockmarkettradealerts.com/videos/front/fvideo.html
That's why until the age of 30 I have see most of the world, did my sex drugs and rock&roll so I am Ok with me last statement.
You on the other hand are lock and load and with a new baby around you got screw manת there goes all you plans (:
Have fun man don’t let those diaper's to overcome you (:
Lots of people forget 1 major thing and it’s the Oil that have more affect on the market then Gold. or the $,
The funny thing is that oil top all time high to $117 and close 116.69 that 4X jump in 4 years and it will go to 120+ soon, look like the oil will be the next silence killer on the market.
There where times that when the oil jump so high the market collapse, and look it now? its like the oil have no affect on the market ,but like I say before the oil Hitman will submit his contract soon……
The end of the world is coming(:
I am very surprises on those earning mostly on IBM that perform nice and also Google beyond expectation those 2 socks push the market up hard but still if the market climb 250 points easily it can go on the other said also, but I will take my stance in earnest right now, if this Q time will hold and the finance sector will show a small recovery we can see a long consideration and no hold down drop.
Very hard to predict the market this day's so many wrong analyst statement everyone is very confuse.
I say now one major thing base on the market history no matter what you see a short term swingy market is not a good market, finding opportunity for long term on those cheap stocks that drop in the last 4-5 month is still not the best time to buy them into the long term.
I look at my work on those scalpers that trade millions of $$$ they are getting lost on there trading and fighting those stocks.
Amazingly our TA department doing phenomenal on there trading show you how good a swingy market for those short term traders.
Will see…..
Forex Technical Review 4/18/08
EUR/USD
The very strong uptrend is forming into a channel in the 4 hour chart, as the pair no floats in the middle of it. The momentum is bullish, and the Slow Stochastic of the 4 hour chart is showing that the trend might continue. Going long might be preferable.
GBP/USD
There has been a bullish breach the rough the narrowing channel on the daily chart. The momentum is strong and it appears that the bullish trend might have steam to reach the target price of 2.0025 on this move. Going long the right way today i thnk.
USD/JPY
The bullish trend continues with plenty of steam as the pair now floats around 102.32. The Slow Stochastic of the daily chart indicates that there is still more room to run up. The next target price will be 102.70. Going long seems like the right choice today.
USD/CHF
The flat line continues, as the pair still did not make a significant breach to any direction. The 4 hour Slow Stochastic is in neutral territory, and the daily studies showing no distinct momentum to any side. No clear signal, or a good swing no trade on this.
CKNN –doing a lot of issued and sold shares in the last 2 years and that five-year warrants since 2006 around 22 mil` is still kicking in, they can close a 10 mil`deal but with toes warrants around ………well you know all about your warrants I think that’s why the main drop on the Pps.
Also by there 10 k this company going back, smaller Gross increases loss for 2007.
Ho and…
You can Bug any time ill find the time(:
Lets say this, you post it a long time ago(you mention this at first time 6 month ago), since then UCHR hit 0.1 drop to 0.04 hit 0.13 then drop again to 0.06 and now its 0.1on an upper move.
To logic base on the chart say it will break the 0,13 in the mid term.
Now since I know you didn’t sell 1 share (how I know you ask? I just know) all this time you need to ask your self, can this could be the one? And I say NO.since I know you are a holder and looking in to the long term as I say many times before "long term hold on the penny on stock under 0.1 is a hard game"
You need to ask your self on all this time you hold this you had the opportunity to do 3 nice moves of 100% gain that almost 300% total on UCHR .i trade so many years on the penny thousand of penny stock move on my account there is always something to stop those penny stock from making it and move up big and hold the price for a long time .
Bottom line here is what I will do take 50% gain and hold the rest at 0.097-91 if it make it above 0.13 nice if not take your stop 0n 0.06 until next time.
No fundamental or chart just logic.
Ho base on the chart I will hold 1 more day before I sell but that just me
GL
didn't play CBAI no vol` to play .
FLIP didn't see ARCA fighting this in the last 10 days .
but stock cant do more then 3 days in a row to much past dilution going on only big news can move it or MM will let it go.
i am doing good very busy on my new job but lots of action with big money .
have fun .
yes i did; The results beat the estimates of analysts surveyed by FactSet Research, who forecast IBM to earn $1.50 a share on $23.8 billion in revenue. IBM didn't immediately give any estimates for Q2, but in a statement, CEO Sam Palmisano said, "We feel good about the rest of the year."
will look to see what AAPL will do
maybe we can play today on the news CBAI keep an eye
Forex Technical Review 4/15/08
EUR/USD
The pair has been going through choppy sessions with no distinct direction for the past seven trading days. Several attempts to breach through the 1.5900 level failed, and the pair is consolidating around 1.5830. The 4 hour chart is showing signals of local bullish momentum, as the Slow Stochastic have a positive slope. Going long with tight stops risky but thats my strategy today.
GBP/USD
The bearish flag formation on the daily chart is still valid, as no major breaches occurred. The momentum is still very bearish as pointed by the daily RSI. i will wait for an additional break through the 1.9600 level to validate the next sharp bearish move.
USD/JPY
After bottoming at 100.00, the pair now shows a relatively volatile price movement with moderate bullish momentum. The daily chart is showing a double doji formation with very tight Bollinger bands which indicate an upcoming break. but still i will advised to wait for the move and swing.
USD/CHF
The pair has been range trading for a while now, as no clear trend direction is in sight. The daily chart is showing mixed signals and the 4 hour chart is showing moderate bearish movement. will stay out of that one for today.
Forex Technical Review 4/14/08
EUR/USD
After a very sharp drop at the opening session which took the pair on a dip of 150 pips, there is a certain consolidation around 1.5720. The daily chart is showing renewed bullish momentum, and the hourlies support. It appears that going long might be the way for today.
GBP/USD
There is a narrowing bearish channel forming on the daily chart, as the cable now floats in the middle of it. The slow stochastic shows a negative slope and indicate a possible continuation of the bearish trend. If the cable will breach the 1.9680 level, we should be expecting a very sharp bearish drop to follow the breach i think.
USD/JPY
The momentum which was created after the pair breached through the very accurate bullish channel continues with full steam baby. All oscillators are showing very bearish momentum and it appears that the pair might have a target price of 100.00 on this move.
USD/CHF
The range trading continues without a distinct breaking direction. The daily chart is giving mixed signals and is mostly floating in neutral territory. The hourlies are showing moderate bearish momentum. i will go short with very tight stops for today.
The Japanese Yen like the dollar last week did mostly consolidated .
In the next 48 hours, there is no fundamental data expected to come out of the Japanese market. Later, on Thursday, the news suggests that Japanese Industrial Production and the Household Confidence will remain low for the foreseeable future. Today, i will keep an eye on the U.S. Retail Sales data as higher then forecasted printing might pull the U.S. currency up against the JPY.
The US dollar look at that ugly chart ..
shorter term there is a triangle that may or may not hold as a long side break out. It is symmetrical so can go either way i have a hunch it wont hold and at the moment stochastics are still pointing down.
Looking ahead to this week, i think you will to see a host of key economic data from the US which if positive could contribute even more to dollar bullishness. With intervention unlikely at this point by the G-7, US data will likely drive market trends. This week i expect to see a wide range of figures from all economic and production sectors in the US. Most notably, We can also expect Business Inventories and a speech by Fed Governor Warsh. Volatile movement surrounding the Retail Sales release is likely; as a result bullish dollar behavior should be expected.
What news? you.....
You know there is nothing new about this and in the last 3 years that you trade this, you lost all your money on this.
Why you keep referring this stock to me when you know I will trash you?
Obviously I can see and recommend to you, to leave the trading world, why lose all this money? You can buy instead drugs and do some good smoking all day and hey who knows perhaps you will find your new destiny, I think smoking weeds all day will do much better for you then trading stocks .
Well ;I have ask so many time from the newspaper man to try and give me the newspaper of tomorrow, so I can be always be right 100% on my analyzes, but I guess I will never get the newspaper of tomorrow (:
Have a nice weekend.
Tsafi
Forex Technical Review 4/11/08
EUR/USD
The pair is in the middle of a bullish trend as the attempts to breach through the 1.5820 continue. The slow stochastic indicates that the bullish momentum might continue, and that a breach is very likely. Going long appears to be preferable.
GBP/USD
The cable has breached the key Fibonacci level of 1.9800, and the break has been validated by a full bar(love thoes stuff) beneath that level on the 4 hour chart. The negative slope on the daily slow stochastic strengthens the notion that the momentum is quite bearish. Going short today .
USD/JPY
There has been a breach through the bottom barrier of the bullish channel on the 4 hour chart, as the pair now floats around 101.80. The momentum is very bearish and it appears that the next target price might be around 100.70. Going short might be fun today.
USD/CHF
The pair continues to float without a distinct trend. No significant breach has been seen on the daily chart, and the 4 hour chart is giving mixed signals. i will still wait for a clear break before swinging into the trend.
some Video Tutorials for Forex beginner`s on TA
http://www.forexonlinelearning.com/details.php?pageid=5
I think I remember you from the past, I can't sent you private.
I am less active on the HUB since I start to work for ML as a broker again.
My best advise regarding the Forex is to first use the demo account and trade this like it was your on money don’t use real money before you can have a success in the demo account.
Remember to trade with low contract Pips $5 for a pips (mini forex) don’t use big leverage at the beginning.
P.S
Got to know we have some Ozzy around, play safe.
Tsafi
We should make an alarm clock from his voice, we can make millions (:
Forex Technical Review 4/10/08
EUR/USD
The pair is testing the very important key resistance level of 1.5810 and is looking to breach. The daily RSI and slow stochastic are very bullish and it appears that the breach might be imminent. A preferable strategy for today might be to wait for the bullish breach and swing into the trend.
GBP/USD
There appears to be a narrowing bearish channel on the daily chart as the cable now floats in the middle of it. The slow stochastic is showing moderate bearish momentum as it shows a double top formation with a negative slope. Going short today like yesterday.
USD/JPY
There is a very distinct bullish channel forming on the 4 hour chart as the pair now made the first breach through the bottom barrier. The breach has been validated by an additional bearish bar, and the momentum now is extremely bearish. The next target price might be 100.50 on the first move.
USD/CHF
Narrow range trading continues as the pair did not make a significant move in either direction. The daily chart is showing first signs of a bearish momentum as the slow stochastic shows no crosses and the RSI floats near the 50 level. The Bollinger Bands are tightening and a breach might be imminent to any side. A good strategy is to look at the signal and ride the momentum.