Friday, July 29, 2016

How to find Imbalance on a chart-- Supply and demand Indicator

Forex strategies ways to find imbalance on a currency chart

It has been quite a busy week but at the end of the week as it happen mostly on last trading Friday of the month and last day of the week, currencies starts moving erotically and usd/cad was no different.

But what different has happen as it was on the cards and when you spot smart money around you can expect movement in every correlated or non-correlated assets class pair and as Canadian dollar is directly correlated with Crude, whose downside pressure was on the move suddenly we see profit taking and GDP numbers from US and Canadian Area was surprising factor in the overall context and hence strong movement was already witness on the chart.

Ways to find Imbalance on the Chart

As you all might wonder, what is imbalance and I have stated it so many times in my blog Articles that strong trend reversals out of nowhere and then minor bull bear fight to move the price is the "Imbalance", area on the chart and we all must eye such locations and canadian dollar recent up down movement was a great clue of something will give away at some point and today was the day.

IF you see the chart clearly I have mention two areas where strong set of orders are seen after price make a new high and fail to hold on those highs are first clue of collecting all the buy orders against the big sell orders and this week new multi month high was no different as price engulf that with pressure and after that you just have to find the approach to supply and QM area to short and where risk to reward should be atleast 5-6 times but pair has fallen more than 150 pips so that rewards was never expected.

Wednesday, July 27, 2016

How to Master the Art of Swing & Scalping Trading Techniques in Forex

Master the Art of Swing & Scalping Trading Techniques

Its has been a struggle for new traders to how to choose from swing trading and scalping as short term risks are always better for them to get small profits and build their accounts and they try using lot of indicators and expert advisors to see the results if it suits their trading style and yet it never did they never been able to admit that there is no such path of success that leads to shortest way to get there and scalping is such an illusion that traders find themelves very difficult to get out of those short term money making techniques.

How to use selective approach and be versatile in Forex

As a young trader, everyone use to try everything, atleast for first few years and it has been happening to everyone of us, not to every 2 or 3 out of 10 traders but 9 out of 10 traders using same techniques and mistakes over the years, but technology has changes and everything is made available so easily these days, but choice and control depends on traders as it always been the case.

But how and when is always the biggest question arising out of minds. So, lets start this journey with few checklists that we always need to be aware of while picking up choices between swing trading and scalping.

To start off, scalping is a technique which we use to trade to pick up small profits by entering a suitable pairs for several times a day .let's say scalp euro for 10 pips with stop 3-5 pips and do that 3 to 4 times a day and you succeed half of the times. So risking 5x4=20 to make 10x4=40 which means reward should always be 2 times or more.

In the process mentioned above even If you win half of the times you still make 20 pips and even if you loss three you still loose only 5 pips for the day and it is easy to recover next day and hope you win 3 out of 4 and that process continues and you start to believe in yourself that slowly and surely you can built such techniques and from time to time apply filters to make these scalping technique much improved and easy to use to identify setup to make a sound living out of Forex.

That statement tells us the importance of money management skills that we use to implement in our trading no matter what strategy we use and no matter which trading style we adopt but now the question is which strategy is so powerful that help us identify the direction and pinpoint stops and profit target that we can use the entire day or even a single session on day to day basis.

Simple answer here is adaptability and our accessing power tells us pairs that are trending and for this we should not be limited to a single cross and pick multiple pairs that are trending and find trade locations which tells us the probable profit potential.

Simply pick gbp/jpy and pairs which trend strongly everyday and yen paris hardly offers extended choppiness and are best to use while swing trading and necessary tools you need to pick up trend with entry and exits are being discussed in details below.

Necessary Tools to pick for Swing Trading

You can pick any indicator for scalping and for this purpose I pick bollinger bands, RSI and fibonacci.(settings are not important as you can use default platform settings)

Saturday, July 23, 2016

Trade Diary for the week july 2016 l Gold Future Euro Exchange rate.

Forex Trading Strategies- Beginners Forex Trading Course

It quite a busy outing altogether for currency traders with risk on and demand for safe heaven this month and I still would expect situation to remain subdued for the risk on trades.

Trade Ideas for the Gold Futures

I posted two posts on gold future updates around 1380 and 1332 and both the conditions were fulfilled and price is now in PA zone and I would expect price to remain volatile and react to recent new supply and I would expect the rejection and towards the target around 1305 area

Gold Futures Trading levels

[Also Watch :- Recent Articles on Gold futures ]

Euro dollar trading FOMC Statement

Euro dollar is moving in narrow range and trading just around the range low ahead of 1.0900 support and I would like to keep an eye if there is any rejection from that support and price manage to stay above 1.1050 for a move towards the range high and then possible new direction to new high above the range.

Euro exchange rate

With recent Price Action and FOMC statement due to release next week, I would like to see price reacts to support and we can see bullish price Action in Euro, but still price action is very bearish and I would post an article after the report will be published and Euro is surely to find direction after the report as there is not a lot happening from ECB, and traders are really looking for Fed officials comments for the direction in Euro exchange Rate.

This week is full of fundamental analysis with focus shift on FOMC statement as talks of September hike is really putting risk on as after what happened after "Brexit" referendum has put lot of pressure on Federation and If there is any report telling that of shifting the rate hike to next quarter would really put pressure on U.S dollar and it can retreat from recent levels and Australian dollar would be bought from the recent levels but due to recent talk of Rate cut and recent price action can dilute the comment and we can see price don't react as expected.

Focus is shift on next RBA meeting next week

Trading such scenarios is quite profitable when Price Compressed to supply and rejection are followed by choppy and sideways price action as Pair look for direction ahead of strong fundamentals report and If expectations are not met price usually lack supports and bearish pressure is quite imminent.

Chart

Canadian dollar is all set for new direction as we saw a break above recent range and retreat from these levels but Price has strong support as mention in the blue boxes in the chart and If price manage to break below these areas then I would like to see the approach towards the supply and I would still maintain my bearish outlook for the canadian dollar towards my next target 1.2630.

How to trade Rejection in Forex with recent price action in Canadian dollar

Price has manage to react to the strong areas and rejections are quite volatile and this confirms that new high would probably show the same momentum as it has show in recent weeks.

[Also watch:- How I manage to Pick bearish Price Action In Gold Futures ]

Thursday, July 21, 2016

Comex Gold bulls facing headwinds around 1344- Trading Gold Futures

Forex Trading Strategies- Beginners Forex Trading Course

Hi, Quite a while since I update the blog and the reason being quite a dull and choppy price action and now I am watching gold for the past 7 days or so and recent price action facing headwinds If we see a rejection of 1342-45 area, and this bearish rally would continue towards 1295, which is I think strong handle and there would be a decent fight between bulls and bearish to protect this area, but for the time being focus has shifted towards 1345 area and below 1327 which I think need to be cleared first and then we can see more bearish price action to follow through next week.

Rallies followed by Reversals

We do need to understand the overall structure before we can make any decision in trading

Reason I am quite skeptical about this Gold future rally is that Whenever we have strong liquidation break to the upside, we have seen substantial selling interest which increase with minor rallies and Whenever we see price approach a particular supply or demand area after clearing opposite demand aka supply, we see price tend to behave dramatically when It finally gets to the origin of the move and this time we already have a retest where we see compression towards 1345 area, followed by rally towards 1310 area, and recent rally is strong from the lows but I doubt whether It will continue.

Wednesday, July 13, 2016

Trade alert Australian dollar possible push towards 0.7714 l Trading employment data

Australian dollar push towards longs towards 0.7714

Trading Australian employment data - Forex News Trading


Hi, i will update the text later

Tuesday, July 12, 2016

Canadian Dollar Trading BOC statement l Whatever the decision Canadian dollar will collapse to 1.2470

learn to trade forex like banks with strong risk rewards

Canadian dollar is waiting for BOC members to gather for the policy guidance and make forecast about rest of the year GDP and other policy decision giving canadian dollar directions.

Whatever might be BOC decision Canadian dollar is about to collapse

I won't take much time explaining you the fact why I think Usd/cad is about to collapse strongly for the rest of the week or even month, below is the chart that explains it all.

You might like reading:- How to spot Clean set of orders

Also Read this :- Gold Future Long term view

Learn to trade currencies like a Professional


Monday, July 11, 2016

Learn to trade forex like banks l Live trade Example usd/cad

learn to trade forex like banks with strong risk rewards

Trade currency is like a challenge to everybody specially If you have been trading for a while with no success and still quite dedicated to learn and adapt and prepare yourself, but still you need to think out of the box and learn tricks that strong institutions and banks use to trade and I have done my best to put it all together and everyone out there because I know how frustrating and hectic it could be to trade currencies for years and yet suffering from directional bias.

You might like reading:- How to spot Clean set of orders

Currency traders in years develop millions of trading system and only certain number of traders use them to make a living off Forex trading and yet we have all the time in the world to learn trading but we look for shortest and easiest way to approach currency trading and hence look for trading gurus to help them and urge for sharing their trading methods and strategies, but after certain number of months and years we did not even get any success what we work hard for or what we deserve and reason being the logic and when we look to trade multiple mechanical systems and multiple self-failure prophecy systems.

Also Read this :- Gold Future Long term view

Look at the chart below and you would understand that how easy it could be to learn and read a currency chart like pro and make a living and successful trading career. step to step guidance is very important and I have put every effort to make it crystal clear and for me patience is the key until the smart money pull the trigger and we just need to find trade locations and half of the work would already be done and you just need to watch out for the tricks that happens afterwards

Learn to trade currencies like a Professional


how to trade forex like banks,Learn to trade like pro

This chart is a clear example of how we should target a pair which is approaching strong demand or supply area according to our analysis and this would put lot of stress out of our mind to target and analyze multiple currencies charts, indexes, futures and commodities. I have post a small screenshot on the left of the real usd/cad chart which went exactly as shown in the diagram. Price could react to certain price patterns and could reverse or look to continue above the mention target but it has already spike from as low as 1.2890 and currently trading around 1.3120 so it was a nice profit overall. I would post couple of more charts in recent week only for education purpose.

Weekly Price Action Analysis for the week 11th July 2016 l Canadian and BOE policy eyed

Forex Price Action analysis with Boe and BOC Policies eyed

Hi, traders We already had quite handful of events in the last couple of weeks and it has been no different this week with volatility will again be on the higher side with two large banks gathering again to discuss their long term policies and future forecast and specially Bank of England would be under tremendous pressure for future guidance as they will have to keep everything on track for new policies and with new headwinds coming their way. So, it is important to look out for other pairs which have direction rather than just looking for these two pairs as smart money will keep looking for stop hunting and pairs will suffer from clear direction at new high or low.

Price Action Analysis of Euro/dollar and U.S. Dollar index future

Price Action analysis of Eur/usd and U.S dollar future and they will be under radar and look or the help of risk aversion for the direction as they are lacking fundamentals at the start of the week but at the end of the week U.S Cpi would surely fuel the prices of the both euro and dollar as September hike would also depend on Inflation numbers.

Technical portion of U.S dollar and Euro

Saturday, July 09, 2016

Trading Gold Futures Price Action l Fibonacci retracement and price action levels

News Trading- Trading True Trends

Its been target oriented week for usd/cad and Aud/cad pairs and Now the focus from there shift after the news section settles down and we can see new cash flow in the Currency market as talk shift to Fed's september rate hike after upbeat Non Farm Payroll last Friday. I have prepared a report on Euro dollar, pound dollar and commodities.

fibonacci levels for gold futures

Fibonacci Retracement levels for gold futures

Weekly chart of the Gold Futures refers to unfold correction and retracement levels towards 38.2% and If we see an rejection from here then probably we will witness a impulsive rally towards 1295 levels and from there we will see how price unfolds and If this assumption is right and we see a break below 1295 level and this will confirm the top and our next target would be 1250 and 1198 level in coming weeks. But we will have to be patient and wait for the price action to show some sign of top.

Gold Futures Price Action level

Read Gold futures price Chart and understand every move

Gold futures has some strong history and open interest at historic level where price had fakeout the bull rally and strong rally after clearing supply with every move was a clear signal of new buyers found there at level and that is what I try to mention in the chart and Video below will really help you understand the "law of open Interest" at historic price action level and Now we need further price action to see if Price has reached the motive or target smart money was looking for and I would post an update If we see another level of interest or trading opportunity.

Wednesday, July 06, 2016

Trade Updates post RBA statement l Trading True trends in Forex

News Trading- Trading True Trends

First of all Look at the update I posted prior to RBA statement on 5th July 2016.

Australian dollar bullish sentiment RBA Cash Rate Statement

Just hours before the release I update the blog with two pairs looking strongly bullih and those were Aud/cad, and Aud/chf and they were trading at 0.9626 and 0.7238 relatively. I took the decision to go long because relative decision were made prior to the release and it was just noise that was cleared after the release and pair start trending again.

Updated Price Chart of Aud/cad

Forex news trading

Price was trading around 0.9626 area and risking 40 pips would have been very good idea as I posted on the previous article as decision was already made and there was just a question of price faking out the area for buy limit to get filled and it does reach to 0.9620 level which filled up pending limits and still was the cheapest price after moving market accumulation.

In next few hours, I would post few videos on the trade ideas and then you all would have some idea how I went about my trading decision just prior to the strong release and I Just confirm the swings and look for the possible reward and still I think pairs have quite a strong way to travel specially Aud/chf looking strongly bullish towards 0.7560 area.

You might also like to read :- Real time Trading Signals

Updated price chart of Aud/chf - News Trading


Tuesday, July 05, 2016

Forex Price Action tells us about clean set of orders l Forex Price Action Techniques

Forex Price Action and clean set of orders

I have published multiple articles on this blog to find you locate the Price action patterns which helps us in decision making and those areas could be consolidation,swing high or low, broken support or resistance rallies, drops and it helps us in locating true set of orders and levels that helps us in building strategies.Forex price action is really about finding levels or areas of concerns which help us find true set or clean orders and that is where all the trading strategies should be built to help us locating those levels.

How to trade Forex Price action

Without complete knowledge of price action and clean set of orders, traders can not bring technical analysis knowledge to find out location to manage the risk and If they are not aware of the source or origin of the move, there is no way one can find no risk or low risk opportunities to ride the complete swing. Traders applied candlesticks patterns at support resistance, swings or important levels specially fake pin bars, engulfing patterns and look out to find the true trend.

Price action entries

Time to add more longs to usd/cad existing entry

I have decided to one more long to usd/cad around 1.2980 area and earlier entry was taken around 1.2890 and both the stops are now placed around 1.2940 fro free ride to test 1.3090 and 1.3175, but it all depends on how price unfolds and how price retests the area around 1.3090.

Monday, July 04, 2016

Australian Dollar Trading Cash Rate Statement and Retail sale l Trade Diary for the week 3rd july 2016

Forex Trading Strategies- Beginners Forex Trading Course

Trading has been bit thin after the storm of Brexit that took all the currencies in to strong selling zone but Australian dollar has recover and reach to the level prior to the decision made by U.K voters. Outlook somewhat is quite bullish and with no expectation from the board members as they would like to keep the benchmark cash rate to record low around 1.75 for deposits, But there would be a RBA statement after that which would be a point of focus for traders.

Trade Ideas for Strong trending Pairs.

News trading News trading RBA statement

Trade recommendations for aud/cad and aud/chf which has been trending nicely after failure to hold the lows and looking to test the high and this should be a good time to add fresh longs to existing positions.

Friday, July 01, 2016

Commodities updates - Gold Futures targets and Crude oil watch

Forex Trading Strategies- Gold rallies fresh longs amid safe heaven

Gold futures longs with no risk was the best option to start off the week as price again fake the previous demand and create new demand and rally and last two days bull rally today tests 1341 area which was the first rejection point in the strong risk-off rally after "Brexit", panic offers new safe-heaven demand for gold and other commodities like silver and copper.

You might also like to read:- How to Trade Fibonacci Retracement

Gold and Silver are still the best option for longs in risk-off

Trading Gold Futures levels

Trading is close on gold and other commodities for Monday due to Independence day in U.S, but still I have enough profit in gold and looking to wind off the week with single trade that rally as expected. I would eye on silver now and would post inFibonacci Retracement section for next possible target for both gold and silver.

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