Forex Trade Setups Aug. 30th
NZDUSD – Broke Critical Fib and Big Figure After finding some footing above the .8000 level, the Kiwi took some time breaking the 20ema rejecting off of it 2x before finally clearing that hurdle. Since then, it has climbed for 3 days straight taking out the 50% and 61.8% fibs of the .8850 – .7964 downmove. The 61.8% fib was placed nicely just 9pips above the big figure at .8500 and...
Read MoreThe 4 Staples of Interpreting Price Action
One of the most challenging frontiers for Forex traders has been interpreting Price Action without the known presence of order flow. Although there are many methods which dip their fingers into the toppings of the pie and get a taste of the price action (i.e. candlesticks, Elliot wave, pattern recognition), none of them seem to get fully into the bedrock of our subject – into the actual...
Read MoreForex Trade Signals and Setups Aug. 22nd
USDCHF – Caught between a rock and the SNB After spending over 65% of its days this year selling off, the pair has been in a conundrum as of late with the SNB (Swiss National Bank) having enough of the CHF’s rise hurting exports (stinks not making much money off their chocolate which is damn good if I might say) and affecting their business in the Euro region. They drew a weapon...
Read MoreWhy Michael Jordan Helps My Trading
For the record, I have no idea if Michael Jordan trades. I have no idea if he even knows about the Forex market or is actively involved in his investments. Nevertheless, he helps me with my trading. I have read over 9 books on the man, have his DVD (Michael Jordan to the Max), seen pretty much every game and am constantly reading his quotes. Why? Simply put, he embodied greatness. Many...
Read More$SPX Weekly Kumo Break Suggests Long Term Structural Change
http://api.ning.com/files/AxxVrGt0IZq5JP34dSEmkh8Vc8mM2foYZnJHJM5AH3uO*Pb5yJT5SkGqsjjcv7mJe2GcFA0f8h6Lf*4z7-i6r6MTgXCMkWNW/weeklySPXsmall.jpgFor those of you who are familiar with the Ichimoku Kinko Hyo (One Glance Balanced Cloud Chart), one of its strengths is in communicating when major long term trends are beginning and ending. This can either be done through the TKx signal (Tenkan-Kijun Cross) or a Kumo Break (cloud break). Based on our Ichimoku analysis, we suspect the SPX is headed for much lower ground as an event that has...
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