Today in the trading room we identified two trades. Both were long the Euro in the face of the crisis in Greece. Once again the patterns prove that standing against the herd pays the best. But only if a pattern with solid risk to reward is present. Click on the chart below for a clear…
Today we are seeing a Bullish Butterfly pattern develop in the GBPCHF pair. This pair is one of the more volatile ones so extra caution is advised. We are long from 1.3488 with stops at 1.3434. The target is move back to and even through 1.3689 so we are risking 54 to make 201 or…
We are now watching a few bearish patterns coming together in the CADJPY. We have both a Bearish Gartley on the 30 minute chart and a bearish butterfly on the 15 minute chart. So we are looking to short around 82.55 level with stops above 82.89, targeting a move back to the 81.89 level. Risk…
This week we start off without a lot of larger time frame patterns. We are seeing a number of 5 and 15 minute patterns develop and will look to work with some of them early this week. The situation in Greece continues to breed uncertainty which has temporarily led to the markets chopping around in…
Markets continue to see ever increasing volatility and vulnerability. We have seen the metals begin to correct but have yet to see that pullback drag the Euro and other majors down with it. I expect to see the
The first week of the year ended up providing some fireworks and not just on New Years eve. I am expecting to see the Dollar begin to
Happy NEW YEAR! I have to start off by saying how excited I am about 2011. The first day of the year was 1/1/11 which I find to be very fitting for new beginnings. I know I have personally committed myself to making not only this next year an incredible one, but the next decade and beyond!
I will continue to post my outlook for the Forex Majors each week here at Forextradersdaily.com. I sincerely appreciate feedback and or questions about any of my posts so please do not be shy.
The first week of the New Year is starting out a bit slowly which is to be expected. It will be Wednesday before we see the markets back to “normal” levels of liquidity. Look for the markets to begin to start to
I would like to invite all readers to join my new inner circle group on facebook: Inner Circle on Facebook . This week we have a rather light report schedule. That should leave the market wanting. We still do not have clear resolution in Greece so that wild card remains very much still in play.…
I would like to invite all readers to join my new inner circle group on facebook: Inner Circle on Facebook . The market as a whole continues to be more and more concerned with short term forecasts. We have seen even retail investors reduce their overall time horizon. Whether that be from need or a…
I would like to invite all readers to join my new inner circle group on facebook: Inner Circle on Facebook . This week we are looking at a fairly light schedule of data points. The market continues to be hyper focused on the PIGIS. We saw large gaps on Sunday as news of a “deal”…
I would like to invite all readers to join my new inner circle group on facebook: Inner Circle on Facebook . Also there are a few spots left for the mentoring class that starts tonight click here for more info: http://forextradersdaily.com/InnerCircle/mentor/ Last week we saw a number of two sided moves across the majors. This…
This week is a very busy one. We have both the end of the month and quarter on Wednesday, and then we end the week with NFP. I am looking for many of the moves we saw last week to continue into at least the early part of this one. The overall direction of the…