The EURCHF ground down to just above the 1.20 floor at Friday close. The Swiss national bank have repeatedly said that they will defend the 1.20 floor they set with vigor and unlimited resources , if they are to retain any credibility at all they have to intervene here next week. They did intervene earlier […]
Our USDCAD trade closed today giving us +47 pips total for the trade. Trade was opened primarily on the obvious resistance off the 1.0 parity level and also daily resistance. We also had some nice harmonic patterns forming as the price approached our entry. This is most probably our last trade of the month which […]
In addition to our already very successful live candlestick , harmonic and divergence alerts we have just added a new cool feature for our harmonic pattern traders . Harmonic Pattern prediction. Monitoring 50 charts,this software alerts well in advance of a harmonic pattern forming. Therefore giving us a great heads up on whats coming with […]
Set a pending order yesterday on the GBPUSD , using our predfined entry criteria which included a bearish Gartley up at 1.5985 . Trade was triggered this morning fell nicely enabling us to get 1/2 of our trade closed and move our stop into safety . Trade was going nicely until a UK clearing bank […]
A feeling here that the euro may have some further gains this week . Below is the 1 hour chart and the resistance area is totally obvious. So on a break of that 1.3280 line look for a retrace and a failure to break back to the down side to go long. Here is the […]
Going into next week looks like it will be quite a busy one coming up pre planned news wise which as usual will be keeping on our toes with our trading. The euro took a dip down to 1.30 last Thursday the lowest its been since first week of February. Will be interesting to see […]
We took an earlier in the day trade on the GBPJPY which had setup as a sell trade with our normal trade entry setup, however 2 earthquakes in the Japan area had other ideas for our trade (thankfully everyone is safe over there) and we quite quickly got stopped out . 1st loss trade of […]
Obviously the major news is that Greek debt is going to be restructured with the private sector taking a hit of around 100 billion euros. The next worry here is that these losses will be claimed back using insurance contracts that pay out to the private sector. On Friday afternoon Greece were declared in default […]
I am always being contacted by people asking if I can help them improve their forex trading results. A question I ask is, “What made you start trading forex ?” . The majority answer that they were told that is was a way to quick riches ,nothing is further from the truth and that what […]
Opened a nice low risk sell trade yesterday in members trading room on the USDCAD using our regular trading method. Closed it this afternoon for a total of 90 pips ,16 pips on the first half of trade and 74 pips on the second half in a lovelly trade most of which was as usual […]