Friday, May 19, 2017

Why rumours move the price of currencies and truth behind such moves.

Always believe the facts released not rumours

Forex market always move with sentiment and that sentiment can depends on various factors happening globally, and there can be short term rumours on tops and bottoms and beleive me they do work only in the opposite directions once the storms settled.

I have seen few of those moments in recent time and huge gap in strong downtrend in Euro when first round of French election ends and results were to be published on Sunday whe Forex markets were close and we see few more spike following the start of new uptrend when price consolidates for months after "Brexit", vote last year in June 2016.

In those election momemts, nobody believe the majority but Forex market already was ready for shock as we already witness move from lows of 1.0490 to 1.0750, and till date Price has moved upto 8% in two weeks and the fact is beleiving the facts not rumours.

Few more things we need to know about the market that we must understand that price is random in nature and it has nothing to do with past and history, but logic and synchronize moves does help traders to sight setups that requires low risk.

Believing in patterns is the real mistake as every move is unique in nature

It might seems strange that as if every move is different and price react differently by pip and ratios but our mind has to be trained to view what is happening on charts rather than assuming what might happen if an area is breached, as move depends on action move and then reaction as series of events constiutes a movement

Things to do for novice forex traders Facts to know is the secret

Why Forex traders fail The truth behind success and failure

Forex strategies ways to find imbalance on a currency chart

Everyone in this financial market looking to make profits and they work very hard to succeed and make a living out of it, but only few of them succeed. There are rise and fall in every trader's life and practice is the only way to learn skills and keep a record of facts that are repeatedly manipulated.

But wait ! does really we see repeatedly moves in forex market or any other financial market and those support and resistance, indicators, trendlines and fibos really work in forex market. My answer is 'no'! Reason being simple as we are trained to visualize only those things which are used to trap.

Believe me or not as big movers don't have any charts and they simply throw signals on chart to institutions to trap traders and do stop hunting.

Truth of Forex market is bitter than experienced

Its been 9 years of struggle for me till I found articles that really helped me lot and consistent help for 1 and half years, totally change the way I approach the forex market.

Interestingly, in the meanwhile search through tons of blogs that sells crap resources and still make millions and they dont bother what happens to traders using that material.

I myself used them a lot but directional bias was my big problem and even though I had good cherry pick trades once in a while and excitement to trade the same patterns was another reason for me falling for same trap but you will be shock to know that they still keeps the traders interested by couple of move favoring their lgging techniques but in the long run, they hardly let any easy money off the tables for retail traders.

Risk has again hit the market and drives safe heavens and riskier assets

Forex strategies ways to find imbalance on a currency chart

Forex market is always driven with risk so we need to remain sundued and learn to stay on sidelines for a while and wait for opportunities to come again on our side.

Intersting fact is this which come as a surprise which is us dollar strong sell off which noone expect and as a result usd/jpy fall 4% in two days as euro also find bids on the last day of the week.

Market has still not come out of any conclusion and news from us and chinese data still be eyed for riskier assets.

Point to follow for price action traders here is what to expect from market at the start of the week when trading resume, so good signs are always seen when market ends the week on highs and lows and pound and euro did exactly that.

We can see accumulation in Dollar before trend resumes

So, for me I would like to see more accumulation on shorter time frames and see if there are enough space for low risk opportunities but even if trend is matured there would be more consolidation and stop hunting before price finally reverses, but chances are too low but market often hints before it start planning its next move.

Wednesday, May 10, 2017

Trade updates Kiwi and S&P 500

If you did
If you did not read my last post then you can read and have an idea about my trade recommendations. Take a look at the previous post trade recommendations
New zealand dollar is about to hit its first target and in that situation I will put my stops around 0.6920 and look for next target 0.7030 If price did reverse from here, then still it would be nice 25 pips profits. Stay update for another trade update.

Tuesday, May 09, 2017

Nzd dollar Price Action Update support and compression levels holding price up

Hi,

I am quite keen to let everyone update about the recent price Action setups and the one I found today is kiwi dollar or NZD/USD.

I am still bullish on the pair towards the move 0.7030 for the short term, but the problem we are having is to breach the 0.6950 area, and once it is breached as price has compressed to 0.6880 support and once this supply is engulfed we should look to buy the pair towards the retracement 0.6990 levels.

So, Entry should be like :--

Buy Limit 0.6890-95 level

Stops 0.6870

Target !@ 0.6970

Target2@ 0.7030


Monday, May 08, 2017

Technical analysis and trade opportunity of S&P 500 Futures

Hi,

I would like to make this post short and simple with pending order of S&P futures and possibly explain the reason why I took that trade in a day or two.

Set pending buy order around 2388

Set Stops around 2380

Target First 2410

Second 2418

Chart to help you understand why I took that trade

Why rumours move the price of currencies and truth behind such moves.

Always believe the facts released not rumours Forex market always move with sentiment and that sentiment can depends on various...