August 2017 - Forex Trading For Profit

FOREX TRADING FOR PROFIT

Month: August 2017


Trading Binary Options: AUD/CHF – PUT, NZD/CAD – CALL

No ratings yet. AUD/CHF – as a result of yesterday’s dynamic gains, market reached local resistance where today a strong supply response has emerged. Rejection of this level makes us expect continuation of declines in near future. In the short term, therefore, it is useful to consider PUT options on this instrument. NZD/CAD – As Read the full article…



Is retail forex trading profitable? 

Forex Trading

5/5 (20) Can retail Forex traders actually make money? How can you as a retail trader profit from the forex market… It’s often stated that forex traders are comprised of two groups. Those in the 90% of non-profitable traders and those in the 10% of profitable traders. Some say profitable traders are more likely to Read the full article…



Harmonic Trading – GBPJPY, EURPLN

No ratings yet. Last week I pointed to a potential harmonic formation on the EURPLN pair. If the CD was equal to AB, it would be a classic straightforward correction that is highly effective. However, as long as the 4.3130 test is not sure, the formation may never be formed (more in the analysis “potential Read the full article…



Will the Aussie make new highs?

AUD?USD

5/5 (2) Price action patterns AUD/USD breakouts? A few weeks ago I was talking about a possible triangle breakout on the AUD/USD weekly chart.  I have been quite bearish on the Aussie until recently noted that the US Dollar is now being defined as a bearish market and could be in a decline for some Read the full article…



Day trader living in Virginia, South Australia, pleads guilty to market manipulation

Forex Scams

No ratings yet. A 31-year-old South Australian man has pleaded guilty in the District Court of South Australia to market manipulation charges under sections 1041A(c) and 1041B(1)(a) of the Corporations Act following an ASIC investigation into his trading in contracts for difference (CFDs) and shares. Stefan Mark Boitcheff, a day trader living in Virginia, South Read the full article…



CHFJPY-Head & Shoulders on Daily and Weekly Charts

AUD?USD

No ratings yet. Very interesting “figures” draws pair CHFJPY on the Weekly and Daily charts. I do not like pairs with Swiss franc (CHF) due to its volatility resulting from unpredictable SNB actions (I still remember January 2015 ) and higher spread than on other crosses, but looking generally at the currency market – should Read the full article…



GBPJPY – Waiting for Test of Support 139.00 ?

No ratings yet. For almost 1.5 months GBPJPY moves south. The losses started with an unsuccessful attempt to break resistance at 147.80 and led the price to today’s low at 139.47. Support test at 139.00 has become unavoidable at this point. The open question remains whether the indicated level will be tested today or during Read the full article…



Will a Head & Shoulders Pattern Form on GOLD ?

4/5 (1) GOLD market has been moving north for a long time. Due to this growth its price reached and even surpassed the level of 1300 USD, which resulted that last Friday GOLD was most expensive since the beginning of the year. In the area around this level a strong supply reaction quickly occurred, and Read the full article…



Ichimoku Trading – AUDNZD, EURUSD, GBPAUD, GBPCAD August 17th

3/5 (2) Ichimoku is an investment strategy of trend following, it works great on H4, D1 and higher time frames. In this series of articles I present my setups and observations using Ichimoku, supports and resistances and Price Action patterns. AUDNZD On H4 chart we can see that price since beginning of August was appreciating. Read the full article…



Forex trading open positions 8-17-17

signal servive

5/5 (1) Open positions. Update will follow for profit/loss. If there is enough interest I may start a signal service. Need to open an account with a reliable broker. AUD/CAD pennant sell day note: text in chart wrong AUD/CAD   AUD/CHF 4H buy triangle AUD/NZD 30m flag Buy   Aud/usd channel break out buy 4H Read the full article…



Trading Psychology – develop the right mindset

Trading Psychology

5/5 (4) Forex Trading Psychology When we take a deeper look at the Forex market, we will find it’s main driver is the “Trading Psychology of Market participants”. Trading psychology or market psychology is a derivative of human emotions. All market participants are driven by either fear, greed, dreams, and ego.  Human nature tends to follow the crowd and Read the full article…



AUDJPY – Range of Declines of H&S Formation Completed

No ratings yet. In a August 3 analysis entitled “AUDJPY breaks neckline of H&S formation ,bears target 86.45“, I pointed out that the target would be 86.45 with possibility of deepening this movement to another support of 85.80. Exactly this scenario was realized on AUDJPY, and to complete this movement one bearish week was enough. Read the full article…



EURUSD- Head & Shoulders Pattern Forming ?

AUD?USD

No ratings yet.   Since beginning of the year EURUSD is in an upward trend. The lowest rate this year pair reached on January 3rd was 1.0340. Since then, we have seen increases that reached last week handle 1.1910 which gave 1570 pips. The last weekly candle has shape of a pinbar with a fairly Read the full article…



NZDUSD-Head & Shoulders Pattern -160p Declines Coming ?

AUD?USD

5/5 (1) NZDUSD – a layout similar to USDJPY setup described here : USDJPY – Will Inside Bar Support Head & Shoulders Pattern? – (which by the way gave more than I expected – in place of 150p gave 280p). NZDUSD has drawn a classic Head & Shoulders pattern where neckline is at level 0.7390. Read the full article…



AUDJPY breaks neckline of H & S formation ,bears target 86.45

AUD?USD

No ratings yet. As expected the neck line is broken (AUDJPY continued) On Tuesday’s analysis, I pointed formation of Head & Shoulders on AUDJPY and high probability of its activation by breaking the neckline in near future. Although we had to wait more than 24 hours for this break, the downward movement is already a Read the full article…



SILVER – Time to SELL ?

No ratings yet. On daily chart we see that price of SILVER after a period of growth starts to turn around. It’s a third consecutive bearish day, and yesterday’s session drawn a supply pin bar. Also weekly candle is preparing to be the first bearish in 3 weeks. The place of retreat is not accidental, Read the full article…



AUDJPY – Head & Shoulders Formation -Possible Declines to 86.45 ?

AUD?USD

No ratings yet. From the beginning of June 2017 bulls rulez on AUDJPY, and bears only with disbelief could watch this rally. At the moment, however, there is a strong formation that gives the supply a chance to develop at least a correction. During last 2 weeks a bearish formation of Head & Shoulders was Read the full article…