Monday, October 29, 2007
Forex Day Trading System - Where will the anti USD rally End?
USD is taking some serious pounding from all the majors where EUR, GBP, JPY and CHF are prominent.
Though this is good for export and helps to get more foreign exchange, in a way it will keep inflation high.
Now, the biggest question that comes is how can you take advantage of this rally? To make some gains in this rally, what you have to do is trade only in the direction of trend which means don't open the currency trade that is bullish on USD.
This effectively means that buy only when the currency pairs are retracing. So, when EUR/USD is retracing and hits a pivot point, then open the trade on confirmation. The pivot point can be a major support resistance level such as 38.2/50/61.8 fibonacci level, a major support line, 200 EMA, double bottom pint etc.
Currently it just looks USD bearish. So use your forex system and enter the trade..:-)
Thats all in this short message..Keep visiting to learn more on online forex trading.
Labels: EUR/USD, forex day trading, GBP/USD, pivot points, support and resistance
Sunday, September 30, 2007
Forex Day Trading System - Exciting Info!!
There are quite a few exciting infos that I have to share.
First, my blog has reached 600 subscribers in the RSS feed list..Thanks to all of you for making it such a popular blog site..Keep visiting and I'll share lot of other useful information also on the world of forex trading.
Next exciting news is that I am in middle of creating a forex trading course which will be launched in next few weeks and guess what I am going to distribute it Free to about 50 people before I start selling it. Why? One reason is that this is a way for me to thank the loyal visitors of this site. The next is that their feedback will allow me to improve the curse before it full fledgedly gets launched in the market.
I'll put up an opt-in page very soon for you to register..As you know me I am against Spam!! So don't worry about your email ids..:-)
The next is about historic moment on USD/CAD!!!!! Yes, the balance has shifted to CAD. The canadian dollar has become more stronger than USD. As of today 1 USD is equal to 0.99 CAD
Though this is historic, it opens a whole lot of sell opportunities. If you look at the monthly charts, the USD/CAD currency pair has just now broken the strong support, so it is extremly bearish. So what hour time frame you trade, daily or hourly or even 15 min, look for good entry points!!
Also, do remember, this week the NFP (Non farm payroll) numbers are going to come out.
Thats all in this message..Keep visiting to learn on online forex trading
Labels: forex chart, forex Entry, nfp, online forex trading, support and resistance, USD/CAD
Friday, July 13, 2007
Forex Day Trading system - Major top in the EUR/USD
Forex Day Trading system - Major top in the EUR/USD
I am watching this currency pair for past 2 days..I am finding that a major top is in place..Thats why even if my trading system is saying that go long, I am not. If you notice, the current level of EUR/USD is offerring a major resistance. The pair has been rejected multiple times from that level..
I'll do either of the below two -
1. Go long only when this resistance level has been broken.
2. Go short once my trading system confirms it. According to me retracement is on the cards.
My trading system now a days is the one that Adam Burgoyne has given in his "5 EMAs forex trading system"..What a superb ebook he has written..Definitely Worth buying..!!!!
Click here if you would like to know what is in this ebook!!
The same is true for GBP/USD also..
Thats all in this post..Visit again to learn more..Labels: 5 EMAs Forex Trading System, Adam Burgoyne, EUR/USD, forex trading ebook, support and resistance
Monday, July 09, 2007
Forex Day trading system : Major bottom in USD/CAD
Forex Day trading system : Major bottom in USD/CAD
The currency pair of USD/CAD is showing major resistance at the present levels. 1st there was a very bullish candlestic on a 1 hr chart last week and now today the forex pair bounced up again from that level.
What does this mean? This means that currency pair bounced from a level, tested it again and then bounced again. Remember it didn't stabalize there. it bounced. So, this is a good opportunity to go long on USD/CAD.
Look at your forex trading systems and then accordingly place the trade.
Meanwhile how many of you traded the last NFP ( Non Farm Payroll ) news? What was your experience?
Thats all in this session..Visit again to learn more.
Labels: support and resistance, USD/CAD
Sunday, June 10, 2007
EUR/USD still looking bearish - More pounding to come from $$
EUR/USD still looking bearish - More pounding to come from $$
The EUR/USD has just now broken a trend support line on daily chart. The ideal way to trade now will be to use your forex trading systems of fibonacci retracements. Identify the next target the USD can go to on the daily chart and then identify the entry and exit points on the 1 hr chart if you do currency swing trading, or 15 min chart if you do the forex day trading.
By looking at the chart, 1.3250 seems to be the next targetwhere the currency pair of EUR/USD may rest. Similarly the GBP/USD is also looking as bearish for the coming week. Alot will depend on the fundamental announcements going tocome next week. There are lots of forex fundamental news on GBP and some on USD that are going to be declared next week. So, watch for their timings before you place a trade.
Thats all in this session...Visit again to learn more on the exciting world of online forex trading.
Labels: EUR/USD, forex day trading, forex Entry, GBP/USD, online forex trading, support and resistance
Sunday, May 06, 2007
Forex Trading - Something Exciting in May 2007
There is something exciting in May 2007.. I am happy to tell you about it.
What is it? You will come to know very soon..Can you guess it? If yes, feel free to drop your comments..
A new week has started..Now also the forex trading market temporarily is looking USD bullish..
The EUR/USD currency pair looks to be at the major resistance level.. If it breaks that I guess we may see it reaching 1.3675 which will be +50 pips if I enter at 1.3625
Thats all in this short message...Visit again to learn more on forex or currency trading.
Labels: currency trading, EUR/USD, forex chart, support and resistance
Sunday, March 25, 2007
Forex Day Trading System : Another opportunity to trade EUR/USD
I mentioned that my previous trade on this currency pair had me a profit of 53 pips..That was when I went long..
After my trailing stop loss was hit, when I looked at the currency pair again on a daily chart, I found that the currency pair has hit a massive resistance..A kind of double top and the currency pair has started retracing..
So, as you can guess, This is another opportunity to trade on hourly chart..This time to go short on EUR/USD. This means that I am buying the USD by selling Euro.
Thats exactly what I did, as soon as the currency pair closed below a particular EMA, I went short. Currently I am at a profot of 37 pips..This is such a nice opportunity, that I again bend one of my trading rules and have left my trade open on the weekend.
This is another trading strategy that can be used. In this forex day trading system, one can look the currency pair to hit a support or resistance on the hourly chart. If the next candlestick shows a reversal patter, go long/short in the direction of reversal candle and place the trade using a 15 min or 5 min. chart with profit target of 25-45 pips
Tis strategy is equally effective for forex swing trading..This time the daily chart to be refferred to identify support and resistance level and trade to be placed using hourly chart for a currency pair. generally, the profit targets should be 80-150 pips!!!
This is a sort of a mechanical forex trading, but not entirely mechanical.
By the way has anyone of you triedany alert service to do currency trading? How effective is it?
Thats all in this message..Visit again to learn more on the online currency trading market.
Labels: EMA, EUR/USD, Forex day trading system, forex pips, mechanical forex trading, stop, stop loss, support and resistance, swing trading
