We Have Moved. Please Follow Us to Our New Link

We Have Moved. Please Follow Us to Our New Link
We Have Moved. Please Follow Us to Our New Link
We Have Moved. Please Follow Us to Our New Link
We Have Moved. Please Follow Us to Our New Link
We Have Moved. Please Follow Us to Our New Link



Click On the Link below to Visit Our new Site For Forex Signals

http://naijasite.com/forum/index.php?board=12.0



http://naijasite.com/forum/index.php?board=12.0



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CLOSE ALL OPEN ORDERS NOW

CLOSE GBPCHF @ 1.7602

CLOSE USDJPY @ 94.39

AND CLOSE AUDNZD @ 1.2296

SELL USDJPY, 29TH JUNE, 2009 (SUNDAY NIGHT)

TRADE ALERT:

TIME TO SELL USDJPY:

CURRENCY PAIR: USDJPY

TRADE DIRECTION: SELL

TYPE OF TRADE: LONG-TERM

TRADE SIGNAL TYPE: TECHNICAL METHOD

TIMEFRAME: WEEKLY

SELL @: 95.47

TARGET/EXIT: ( Take +1000pips)

STOPLOSS: - -500pips

CURRENT TRADE STATUS: TRADE IS CURRENTLY ONTRADE

SUMMARY:

This is a breakout trade of an ascending channel towards a descending direction. Bear in mind that this trade is to last for weeks and even months. So, get ready for a long term trade and don’t close your trade until we feel that the signal does not exist anymore. Thus, visit our website regularly for an up to date post on when to exit or close this trade. Don’t panic if you see yourself loosing up to -300points. That will not make us to close any trade but we will close any trade in-which the signal had ceased to exist. When we close the trade, we will post it here to inform our traders of this development and also, when we make any readjustments within a trade in terms of raising our stoploss, we will also post it here. Hence, your job is to visit our site regularly for an up-to date posts about this open currency. And since this is a long-term trade, we advice that you use a very low margin (0.01 or 0.1 is advisable) in order not to be cut out since there may be a case of upto -400pips fluctuation against the opened trade before the currency can begin to go in the right direction or in your favour.

To learn about how we generate and confirm these signals, visit http://philopaul4u.com/forexsignalgenerator.htm

SELL AUDNZD, 21ST JUNE, 2009 (SUNDAY NIGHT)

TRADE ALERT:

TIME TO SELL AUDNZD:

CURRENCY PAIR: AUDNZD

TRADE DIRECTION: SELL

TYPE OF TRADE: LONG-TERM

TRADE SIGNAL TYPE: TECHNICAL METHOD

TIMEFRAME: WEEKLY

SELL @: 1.2495

TARGET/EXIT: 1.1495 ( ie +1000pips)

STOPLOSS: -

CURRENT TRADE STATUS: TRADE IS CURRENTLY ON


TRADE SUMMARY:
This is a breakout trade of an ascending channel towards a descending direction. Bear in mind that this trade is to last for weeks and even months. So, get ready for a long term trade and don’t close your trade until we feel that the signal does not exist anymore. Thus, visit our website regularly for an up to date post on when to exit or close this trade. Don’t panic if you see yourself loosing up to -300points. That will not make us to close any trade but we will close any trade in-which the signal had ceased to exist. When we close the trade, we will post it here to inform our traders of this development and also, when we make any readjustments within a trade in terms of raising our stoploss, we will also post it here. Hence, your job is to visit our site regularly for an up-to date posts about this open currency. And since this is a long-term trade, we advice that you use a very low margin (0.01 or 0.1 is advisable) in order not to be cut out since there may be a case of upto -400pips fluctuation against the opened trade before the currency can begin to go in the right direction or in your favour.

To learn about how we generate and confirm these signals, visit
http://philopaul4u.com/forexsignalgenerator.htm

SELL EURCAD, 31ST MAY 2009

TRADE ALERT

CURRENCY PAIR: EURCAD

TRADE DIRECTION: SELL

TYPE OF TRADE: LONG-TERM

TRADE SIGNAL TYPE: TECHNICAL METHOD

TIMEFRAME: MONTHLY

SELL @: 1.5429

TARGET/EXIT: 1.4429 ( ie +1000pips)

STOPLOSS: -

CURRENT TRADE STATUS: TRADE IS CURRENTLY ON


TRADE SUMMARY:
This is a breakout trade of an ascending channel towards a descending direction. Bear in mind that this trade is to last for weeks and even months. So, get ready for a long term trade and don’t close your trade until we feel that the signal does not exist anymore. Thus, visit our website regularly for an up to date post on when to exit or close this trade. Don’t panic if you see yourself loosing up to -300points. That will not make us to close any trade but we will close any trade in-which the signal had ceased to exist. When we close the trade, we will post it here to inform our traders of this development and also, when we make any readjustments within a trade in terms of raising our stoploss, we will also post it here. Hence, your job is to visit our site regularly for an up-to date posts about this open currency. And since this is a long-term trade, we advice that you use a very low margin (0.01 or 0.1 is advisable) in order not to be cut out since there may be a case of upto -400pips fluctuation against the opened trade before the currency can begin to go in the right direction or in your favour.

To learn about how we generate and confirm these signals, visit http://philopaul4u.com/forexsignalgenerator.htm

BUY GBPCHF @ 1.7265, MAY 28TH 2009

TRADE ALERT

Currency pair: GBPCHF

TRADE DIRECTION: BUY

TYPE OF TRADE: LONG-TERM

TIMEFRAME: WEEKLY

BUY @: 1.7265

TARGET/EXIT: 1.8265 (+1000pips)

STOPLOSS: - -500pips

CURRENT STATUS: TRADE IS CURRENTLY ON

DATE: THURSDAY, MAY 28 2009

SUMMARY:
This is a breakout trade of an upwards ascending triangle. Bear in mind that this trade is to last for weeks and even months. So, get ready for a long term trade and don’t close your trade until we feel that the signal does not exist anymore. Thus, visit our website regularly for an up to date post on when to exit or close this trade. Don’t panic if you see yourself loosing up to 300points. That will not make us to close any trade but we will close any trade in-which the signal had ceased to exist. When we close the trade, we will post it here to inform our traders of this development and also, when we make any readjustments within a trade in terms of raising our stoploss, we will also post it here. Hence, your job is to visit our site regularly for an up-to date posts about this open currency.

To learn about how we generate and confirm these signals, visit http://philopaul4u.com/forexsignalgenerator.htm

FOREX SIGNAL FOR EURUSD, 22ND MAY, 2009

Trade Idea: Sell EUR/USD at 1.4050

Our trading strategy is: Sell at 1.4050, Target :1.3920, Stop-loss : 1.4100
The single currency easily met our upside target at 1.3840 (our long position was entered at 1.3730 and made 110 points profit) yesterday's in late New York trading and euro then rallied to a 4-month high of 1.4030 today, however, as recent upmove is losing near term rising momentum, upside is likely to be limited to 1.4050/60 and risk is getting higher and higher for a minor correction to take place partly due to the long weekend (U.S. and U.K. markets will be closed on Monday due to holiday).
In view of this, we would prefer to stand aside in the meantime and one can look to turn short on euro when price approaches 1.4050 level and price shall falter well below 1.4100 today.
On the downside, below 1.3940/50 would signal a temporary top is possibly in place and correction to 1.3900 would follow, however, reckon renewed buying interest would emerge well above 1.3820/30 and euro may head north again next week.

FOREX TRADING SIGNAL ON 21ST MAY, 2009

SELL EURJPY @ 130.58
SELL GBPJPY @ 148.93
SELL CADJPY @ 83.04

Takeprofits for each of the currencies is +100 pips and leave stoploss at -90pips.
Goodluck

MASSIVE SELL FOR EURUSD THIS WEEK

MASSIVE SELL FOR EURUSD THIS WEEK
HELLO TRADERS
This week is a bullish week for the USD Dollar; and for the EURUSD in particular. We just hope that you won’t fail to maximize your profit potentials with EURUSD pair this week.

What I’m saying is that if you had hoped or planned to buy EURUSD this week, you may need to rethink well and fast before you open the next long trade as this might be a costly mistake on your part. We just hoped that you will reconsider to sell EURUSD this week. Hence, from the aid of our trading system, we’ve the course to believe strongly that the pair of EURUSD is going to go down massively this week. Our believe for this hinges on the fact of may indications and below are our reasons for saying so.

5 Reasons Why We Hoped That Eurusd Will Go Down This Week
1. The weekly fundamental analysis is saying that the USD Dollar is bullish while the EURO is bearish
2. We have a head and shoulder chart formation on the one hour chart of EURUSD
3. We have a head and shoulder chart formation on the 4 chart of EURUSD
4. The daily chart of EURUSD seems to be forming a double top formation
5. And finally, our trading software has just indicated from the 4hour chart that EURUSD pair is currently going down

Thus, as you sell EURUSD this week, bear in mind that other pairs like USDCAD, USDCHF should be bought while you aim to sell pairs like AUDUSD, NZDUSD, GBPUSD and the JPY pairs.

Goodluck for this week.

FOREX WEEKLY FORECAST 17TH - 22ND MAY, 2009

FOR THE WEEK OF 17TH MAY - 22ND MAY, 2009
Fundamental Outlook for Japanese Yen: Neutral

Fundamental Outlook For New Zealand Dollar: Neutral

Fundamental Outlook for British Pound: Bearish

Fundamental Outlook for Australian Dollar: Neutral

Fundamental Outlook for Swiss Franc: Bearish

Fundamental Outlook for Euro This Week: Bearish

Fundamental Forecast for Canadian Dollar: Bearish

Fundamental Outlook for US Dollar: Bullish

This Week's Market Outlook
Risk rally stalls and reverses
Risk asset markets have posted strong signals that a significant reversal is underway and we would expect to see further declines in stocks, commodities and the JPY-crosses and a return to USD strength (except against JPY) in the weeks ahead. In currencies, bearish engulfing lines dominate weekly candlestick charts for the JPY-crosses, and daily closes below the Kijun lines augur weakness as well. USD/JPY has tested below the base of its daily Ichimoku cloud at 95.02 and a close below may signal weakness toward the 90.00/92.50 area. An unfolding head-and-shoulders pattern in USD/JPY (Daily Chart) suggests potential back to the 87.50/89.00 area. JPY-crosses are also likely to test their clouds next week, and a looming downside crossover of the Tenkan and Kijun lines would generate yet another sell signal. The commodity currencies (AUD & CAD), which led the way higher during the risk rally, appear to be leading the way lower in the retreat. In particular, we will be watching the 0.7334 and the 1.1992 Kijun lines in those pairs vs. USD, where a daily close through those levels would argue for a more aggressive decline for the commodity currencies. In EUR/USD, the 1.3400/50 area, highlighted by the 200-day moving average at 1.3420 remains critical support, below which we would expect losses to accelerate. In GBP, the 1.5000/50 area represents a similarly important pivot level, and a decline below would suggest greater downside potential in Cable.
Having just called an end to the recent rally in risk sentiment, we are mindful that topping patterns frequently have several false starts. In the current environment, we can't point to any one, single news or event catalyst behind the apparent reversal unfolding. We are also aware that prices in USD/JPY, EUR/USD, and GBP/USD are still above key support levels highlighted above. As such, we would be reluctant to chase this move lower in JPY-crosses/higher in the USD from current levels. Instead, we would look for opportunities to sell JPY-crosses on corrective bounces/buy USD (except against JPY) on pullbacks in anticipation that the risk reversal will continue. The relatively light data calendar next week may offer some additional signs of improvement (see below), potentially offering just such rebounds and allowing for entry at more advantageous price levels. Should further data improvements materialize and risky assets fail to rally materially, we would view that as confirmation that risk-appetites have further room to unwind. The coming weeks will likely settle the argument of whether we have been in a genuine risk recovery or simply in a bear market rally, and we think it is the latter.

PAIRS TO BUY FOR THE WEEK OF 17TH – 22ND MAY, 2009
USDCAD
USDCHF


PAIRS TO SELL FOR THE WEEK OF 17TH – 22ND MAY, 2009
EURUSD
AUDUSD
NZDUSD
GBPUSD
CHFJPY
GBPJPY
CADJPY
EURJPY
AUDJPY
NZDJPY
USDJPY

FOREX TRADING SIGNAL FOR FRIDAY, 15TH MAY, 2009

TIME TO SELL EURUSD

Try to sell EURUSD now as our trading software has confirmed that it's now open for sell. Sell EURUSD @ 1.3571 and takeprofit after 100pips. You may set your stoploss at -70pips so as to protect our money.

Thanks and goodluck

FOREX TRADING SIGNAL FOR 12TH MAY, 2009

TIME UP --- BUY EURUSD NOW

EURUSD has now broken upwards outside an ascending triangle after having been in a consolidation for the past day. The bullish uptrend is now confirmed again. Try therefore to buy this pair now at 1.3640 and take profit at 1.3750. Let your stoploss be set at -70 pips. Timeframe is one hour. Of course, you should bear in mind that if you buy EURUSD, you should at the same time be selling USDCHF.

Goodluck as we hope to make it

10 TIPS TO BECOMING A SUCCESSFUL FOREX TRADER

1. Teachable

The question is sometimes asked whether a person with a tertiary education from a prestigious institution makes a more capable trader than a high school graduate with an appetite for the market. On both counts, the issue is not one of education level, but of the individual being teachable.In order to learn, adults require immediate relevance to their job or personal life (readiness to learn). Most learning occurs as a result of life experience, in particular, through the making of mistakes (getting it wrong is a great teacher).Blame passing (we learn this from childhood – it’s always someone else’s fault, the fault of the instrument or tool, not ours) is an endemic disease that has to be cauterized if a trader wants to be successful. Traders often don’t want to look inferior or incompetent among their peers (goes to pride and competition, not wishing to show weakness – it’s also why admitting to losses resonates so deeply with many traders – it’s the elephant in the room, everyone experiences it but no-one talks about it).Asking the direct questions, admitting you don’t know it all, that you have learning and information needs isn’t a sign of weakness. It’s a sign of strength. The trader who can ask questions, obtain quality information, is the one who will succeed.Is your inner bullsh*t meter properly tuned in?Successful traders are open and teachable; they are honest and real about their abilities and learning needs.

2. Disciplined.

Trading Forex can be a gruelling education in how to get self-disciplined, fast.Losing money is painful, extremely painful. It hits where it hurts most, in our pockets and our pride (since we are after all, smart, intelligent, logical, rational people – getting it wrong isn’t in the repertoire). When market’s rod of correction kicks in, and does so repeatedly, we have two choices. Absorb the instruction and learn from it; or ignore it and walk away.The word “discipline” takes its origins from the Latin “discere” meaning “to learn”. To be self-disciplined, means a capacity to apply yourself to learning or doing a given task when you would rather be doing something else. Can you apply yourself to the task of amending both your behaviour (actions) and your thinking (cognitive processes) as a result of the instruction market delivers?Successful traders have cultivated the self-discipline to obey their own trading rules.Successful traders possess high levels of self-discipline.

3. Observant.

“The little things don’t mean anything. They mean everything.”The capacity to recognise, observe and pay attention to the fine details has much importance in trading Forex successfully. The astute quality in a trader, being able to juggle a multiplicity of fine detail; accurately sift fact from fiction; recall and apply a plethora of rules and rule exceptions at the right moment, is an important capacity.Successful traders have the best information. They don’t get this information by relying on other people to provide it in a neat little capsule “take one a day” form. They read widely, take in contrary opinion, pay close attention to the detail in their charts, think for themselves, and draw their own conclusions. This requires effort.Successful traders consciously arm themselves with the best information; they pay attention to the detail.Successful traders are observant and astute.4. Spirited.It takes a special kind of person to trade Forex successfully. A rare combination of dynamic spirit tempered by concrete realities.The successful trader needs to be comfortable with risk. Having the “spirit” to take risk in the first place is a legitimate and necessary requirement. The corollary is also having the balanced temperament to apply the brakes; to deal with concrete information and hard evidence as opposed to acting on emotion for the thrill of the ride.Gaining mastery of the instrument requires tempering the risk-taking spirit with the hard edge of realities, in particular, familiarity with the many nuances of the Forex market. It is this that causes the process of Forex market success to take time.Successful traders possess a dynamic spirit tempered by concrete realities; they are comfortable with, and respectful of risk.

5. Resilient.

Resilience is the capacity to endure adversity and to bounce back following adversity. Resilient human beings have the ability to weather the storms, to keep things in perspective when adversity strikes, to temper their thought processes with more balanced positive recollection.It’s not a question of adverse events occurring (because we all get our fair share of adverse life events eventually - that's just the random nature of life), it’s what we choose to do about it when they do.When losses occur, the resilient trader takes the lessons on board, learns from them, and amends their trading behaviour. Adverse events present us with opportunity to make a conscious choice - between being the victim or the victor.Successful traders possess resilience; they persevere, they bounce back.

6. Emotionally Mature.

The excite factor in a trader, the energy that drives success, can also be the Achilles heel. The ability to “act, not react” matters.Emotional maturity isn’t necessarily the exclusive domain of chronological years. Some young people possess tremendous maturity, while some older people are still just kids walking around in adult bodies. Being able to respond to emotional stimuli in a balanced controlled way without allowing negative emotion to rule responses is important.Successful traders demonstrate emotional maturity; they act in positive constructive ways, not reactive negative ways; they control their emotional responses; they don’t allow emotions to control them.

7. Risk Manager.

A question on every good risk manager’s mind is “what can possibly go wrong or be wrong with this?” Accurately identifying potential sources of risk, and the capacity to sort fact from fiction, matters.In Forex, losses are part of the cost of doing business. They also become the cost of our market education. Paying for quality formal market education is one means to avoid paying for your education by more indirect means, losses.The best way to contain and manage risk effectively while you learn is to trade small. If a trader doesn’t have the discipline to trade a micro-account with the same discipline they would apply to a larger account, the outcome will be no different. Turning $100 into $200, or $500 into $1000, and eventually turning your seed capital into much larger sums requires exactly the same skill set as trading a larger account from the outset.Keeping the losses tight/low while you undergo the apprenticeship, setting aside the balance of your Forex trading capital for “later” is a common sense strategy.* The objective is to arrive at the point of accumulating consecutively successful winning trades before launching into larger accounts and larger position sizes. If the compounding factor cannot be realised on a small account, it won’t happen on a larger account either.Successful traders are competent risk managers.

8. Stress Manager.

Males of the species, being testosterone driven creatures, are prone to seeing opportunity and engaging in risk-taking behaviours. It comes with the territory, nature of the animal, part of the hunter/warrior profile.Cortisol is the hormone generated when stress levels reach a peak. It provides balance to the equation, it’s the “flight” part of the “fight or flight” response. When testosterone is peaking, opportunity abounds. When stress levels overtake, cortisol kicks in with the opposite view, disaster awaits at every turn, caution is the primary driver. Being afraid to take another trade, missing opportunities, happens for a reason. The over-riding instinct is one of self-preservation - this isn't a bad thing - it's a part of the mind's automatic programming to protect oneself from injury and is therefore something to be embraced, not shunned. It's the foundation of giving risk the respect it deserves. Keeping this response in proper balance is a learned skill that will improve with time as the trader's confidence grows.Managing the stress of trading, being able to identify your physiological responses and monitor these is important.Successful traders recognise their decision making can be affected by stress levels; they identify this and manage their stress responses effectively.

9. Hunger.

Being hungry for the expected outcome (an independent means to make money, the goal of financial independence), seeing the potential, having the motivation to persevere and wrestle with yourself, to put in the effort to fill your knowledge gaps, to apply yourself diligently to the task until you reach a point of proficiency is important. Knowledge is power. Knowledge provides the confidence to trust your TA and trust your trading ability.Hunger for the outcome, being driven to reach your objectives is a key ingredient of the successful trader.Successful traders display hunger for success; they put in the effort required to fill knowledge gaps.10. Focus.People who are most likely to succeed in Forex (as in life) are driven by reward for effort; they are highly focussed on what works, have a low tolerance for day-dreams that don’t deliver. This “reality-check” factor matters. Putting your cold cash on the line, backing your own judgement with hard coin in a high risk market takes courage and belief in yourself / your system / trading abilities.Despite the very best system or entry signals, every Forex trade is a “balance of probabilities” investment. Stacking the odds in your own favour to the greatest possible extent with each and every trade you make, matters.Successful traders are focussed on the reality-check issues; they clinically remove the dross from their inner dialogue; they pursue quality outcomes.

Summary

In the picture at the head of this article, the kitten looks in the mirror and sees a lion. This speaks of the optimism and confident belief the trader needs.It also speaks poignantly of getting a proper grip on current realities in order to make the transformation possible. Many new traders embark on this journey dreaming of the riches to come, seeing the possibilities but not seeing the present realities or what it takes to arrive at that point. Cultivating the personal qualities needed to trade Forex successfully requires focus, application, discipline.Successful traders possess a personal bullsh*t meter that is finely tuned. They are open and teachable; observant and astute; disciplined; spirited; hungry for success; resilient; emotionally mature; good risk managers; capable of dealing with stress; focussed on achieving quality outcomes.To the victor go the spoils.

BULLUISH EURUSD FOR THE WEEK

EUR/USD made a major bullish statement on Friday of this past week after consolidating aimlessly for the first part of the week. At the very beginning of the week, price had made a tentative breakout above the long-term downtrend resistance line extending from the 2nd test of 1.6 back in July, but then struggled to climb significantly above the 1.3300 price region for the next few days. Friday, however, saw a one-directional range of almost 300 pips as the pair rose decisively out of its consolidation. In the process, price is now confirming the trendline breakout that could potentially change the overall trend. For the upcoming week of May 11-15, the pair is approaching key resistance around 1.3750, which represents an important prior support/resistance level as well as the last major swing high. A breakout above that level would represent a significant confirmation of a new uptrend, and should target immediate further resistance in the 1.3900 price region. As the launching pad for the current bullishness, the 1.3300 price region should provide strong support for the pair going forward.

Forex Levels to Watch (Week of May 11-15, 2009)
Here are some key support/resistance price areas to watch for (breaks/bounces) in the forex market during the upcoming trading week of May 11-15, 2009:

EUR/USD - Support 1.3380 / Resistance 1.3735

USD/JPY - Support 96.00 / Resistance 99.75

GBP/USD - Support 1.4950 / Resistance 1.5370

USD/CHF - Support 1.0860/ Resistance 1.1160

FOREX TRADING SIGNAL FOR THE NIGHT OF 8TH MAY, 2009 TILL NEXT WEEK

IT'S TIME TO BUY THE EURJPY

EURJPY just broke the resistance of an ascending triangle and is trending up. It's our utmost believe that this pair should head up from now till early next week. Buy EURJPY @ 133.98 and take profit after 200 pips or exit at 135.00. Leave the trade open till early next week. Timeframe is 4hour chart and the pair is also heading up in both the weekly and daily chart.

N.B: All Signals were given by our trading softwares/signals. Click here to learn how we generate these signals and see how you can generate them daily by yourself

Goodluck and see you on Sunday next week

FOREX SIGNAL FOR 8TH MAY, 2009

CONTINUE TO BUY EURUSD AS WE HOPE TO MAKE IT TO THE TAKE PROFIT TARGET

FOREX TRADING SIGNAL FOR 7TH MAY, 2009. BUY EURUSD NOW

The EURUSD had broken upwards outside the resistance of all of the 30minute chart, 1hour chart, 4 hour chart, daily chart and the weekly chart. This currency is seriously trending up. Make sure to buy now and don't miss this great opportunity. Buy EURUSD @ 1.3386 and place your target or takeprofit at +200 pips or exit at 1.3750. Stoploss should be set at 1.3225.
Goodluck

FOREX TRADING SIGNAL FOR 7TH MAY, 2009, THURSDAY

CURRENCIES THAT ARE FOR SELL TODAY ARE LISTED BELOW:
Timeframe = Daily Chart

CADJPY: Direction for today is down/sell

AUDJPY: Direction for today is down/sell

CHFJPY: Direction for today is down/sell

EURJPY: Direction for today is down/sell

Goodluck

FOREX TRADING SIGNAL FOR WEDNESDAY, 6TH MAY 2009

CURRENCIES TO SELL FOR TODAY ARE:
----------EURJPY, GBPJPY, GBPUSD, CADJPY, EURUSD, AUDJPY, CHFJPY, NZDJPY, NZDUSD, AUDUSD


CURRENCIES TO BUY TODAY ARE:
------- USDCHF, USDCAD

FOREX TRADING SIGNAL FOR 5TH MAY, 2009

CURRENCIES THAT WILL GO UP TODAY ARE: USDCAD, USDCHF, EURCAD, NZDCAD, AUDCAD, These currencies are for buy today.

CURRENCIES THAT WILL GO DOWN TODAY ARE: EURUSD, GBPUSD, CADJPY, GBPJPY, CHFJPY, EURJPY, NZDUSD, AUDUSD, These currencies are for sell today.

GOODLUCK

3 WAYS TO AVOID FOREX SCAMS

Hello Traders, In today's heavily saturated Internet market there are more sharks and scams than reputable forex companies. Think about how easy it is to start a web site today, It takes $10 and that is all they need to lure some unsuspecting forex trader into making a bad investment. There are three basic things we will discuss in this article that can help you to avoid being a victim of a scammer.First you should be aware of outrageous false claims that many of the sites today are making. If it sounds to good to be true it probably is. Don't ever buy anything from those sales page websites, the ones that have just one long page that is a sales script trying to convince you to buy their product. Remember there is no such thing as a get rich quick formula, if there was everyone would do it. To be successful in forex trading, it takes hard work even if you do purchase a product to help you trade, hard work will be involved to be profitable.Do your research about the product and service before you buy. Talk to a real person in the company, if they don't give contact information, don't buy from them, it is a scam. Also find other people that use the product and ask them what they think. This is a valuable information that can save you from making a bad investment. Check the companies track record and see if they have a history of doing quality business over an extended period of time.Lastly, use your ability to reason and think things through, this will enable you to make a good decision. Assume the company is a scam and do not make a purchase unless proven other wise. There are many excellent companies out there that can help traders but most of the Internet websites are failed traders trying to make a quick buck. If you do your homework to find the right service you will do well. Don't fall for the scam, I want to put them out of business for good. We do that by not being lazy and falling for their lame attempts to rob people of their hard earned cash. Be a real trader and be prepared to do the work that is necessary in order to be successful and profitable. You can do it but you just have to make up your mind that you are willing to put the time in to succeed.

Thanks, Casey-- Winners Edge Trading

3 WAYS TO AVOID FOREX SCAMS

Hello Traders, In today's heavily saturated Internet market there are more sharks and scams than reputable forex companies. Think about how easy it is to start a web site today, It takes $10 and that is all they need to lure some unsuspecting forex trader into making a bad investment. There are three basic things we will discuss in this article that can help you to avoid being a victim of a scammer.First you should be aware of outrageous false claims that many of the sites today are making. If it sounds to good to be true it probably is. Don't ever buy anything from those sales page websites, the ones that have just one long page that is a sales script trying to convince you to buy their product. Remember there is no such thing as a get rich quick formula, if there was everyone would do it. To be successful in forex trading, it takes hard work even if you do purchase a product to help you trade, hard work will be involved to be profitable.Do your research about the product and service before you buy. Talk to a real person in the company, if they don't give contact information, don't buy from them, it is a scam. Also find other people that use the product and ask them what they think. This is a valuable information that can save you from making a bad investment. Check the companies track record and see if they have a history of doing quality business over an extended period of time.Lastly, use your ability to reason and think things through, this will enable you to make a good decision. Assume the company is a scam and do not make a purchase unless proven other wise. There are many excellent companies out there that can help traders but most of the Internet websites are failed traders trying to make a quick buck. If you do your homework to find the right service you will do well. Don't fall for the scam, I want to put them out of business for good. We do that by not being lazy and falling for their lame attempts to rob people of their hard earned cash. Be a real trader and be prepared to do the work that is necessary in order to be successful and profitable. You can do it but you just have to make up your mind that you are willing to put the time in to succeed.

Thanks, Casey-- Winners Edge Trading

FOREX TRADING SIGNAL FOR 30TH APRIL, 2009.

SELL EURUSD @ 1.3258
SELL AUDUSD @ 0.7256
BUY USDCAD @ 1.2041
BUY USDCHF @ 1.1373

Takeprofit is +60 for all and leave off the stoploss. But close any open position at the end of the day's trading system.

FOREX TRADING SIGNALS FOR 29THT APRIL, 2009

BUY EURJPY @ 126.78

BUY GBPJPY @ 141.25

BUY CADCHF @ 0.9375

BUY AUDJPY @ 68.16

BUY CADJPY @ 79.13

BUY CHFJPY @ 84.42

Takeprofit is +50pips for each of the currency. Leave off the stoploss but close any open position at the end of the day's trading day. Goodluck

MORE FOREX TRADE SIGNALS FOR 28TH APRIL, 2009

BUY USDCAD @ 1.2199

BUY USDCHF @ 1.1570

SELL EURUSD @ 1.3008

Takeprofit should be set to +60pips but leave off the stoplosss and only close any open positions by the end of the day's trading system

FOREX SIGNAL FOR TUESDAY, 28TH APRIL, 2009

CURRENCIES TO SELL NOW

SELL EURJPY @ 125.46

SELL AUDJPY @ 68.16

SELL CHFJPY @ 83.35

SELL CADJPY @ 79.10

Takeprofit for each of the currencies is +60 and leave off the stoploss. Close any open position by the end of today's trading session. GOODLUCK

FOREX SIGNAL FOR 28TH APRIL, 2009

CURRENCIES THAT WILL GO DOWN TODAY FOR SELL ARE: EURUSD, AUDUSD, NZDUSD, EURJPY, AUDJPY, CHFJPY, CADJPY and NZDJPY

CURRENCIES THAT WILL GO UP TODAY FOR BUY ARE: USDCAD and USDCHF

Aim to confirm and trade these currencies or you can visit our website for another clearer point to open and trade these currencies as soon as we confirm when to trade them. But do well not to trade against the signals that we've give in this post. Goodluck and make sure to come back for we will post soon on when to trade these currencies.

FOREX TRADING SIGNAL FOR MONDAY, APRIL 27TH 2009

SELL EURUSD @ 1.3244
SELL AUDJPY @ 69.78
SELL CADJPY @ 79.89
SELL NZDUSD @ 0.5677
SELL CHFJPY @ 85.02
SELL AUDUSD @ 0.7207
BUY USDCAD @ 1.2114
BUY USDCHF @ 1.1390

Takeprofits for all of the above currencies is +60pips each. Leave off the stoploss but if target is not achieved, kindly close all open positions at the end of today's trading day. GOODLUCK

EUR/USD strategic forecast: April 27

The pair is being traded along an uptrend. Level 1.3290 shows a temporary resistance, and a correction is possible from there. 1. Correction to support level 1.3125 is possible. I’m expecting the uptrend to continue from that support, retesting the resistance 1.3320. In case the pair rises above level 1.3360, ascending intention will be amplified and resistance 1.3590 will be reached. 2. Downtrend should be considered only if the pair drops below level 1.3010. In such case it will reach level 1.2776.

FOREX TRADING SIGNAL FOR FRIDAY, APRIL 24TH 2009

buy EURUSD @ 1.3139. Takeprofit is +50 and stoploss is -50

Goodluck

Forex Levels to Watch (Week of Apr 20-24, 2009)

Here are some major forex support/resistance price levels to watch for (breaks/bounces) during the upcoming trading week of April 20-24, 2009:

EUR/USD - Support 1.3000 / Resistance 1.3300
USD/JPY - Support 98.15 / Resistance 101.45
GBP/USD - Support 1.4580 / Resistance 1.5065
USD/CHF - Support 1.1600/ Resistance 1.1800

Mon, 20th of April, 2009

EURUSD Outlook

The EURUSD had a bearish momentum on Friday. The pair break below the key support level at 1.3100, bottomed at 1.3016 and closed at 1.3024. My technical focus remains at the descending triangle formation indicating potential bearish scenario. However, pay attention to the psychological level around 1.3000 – 1.2950 which could be a potential strong support. Break below that support area could trigger further bearish momentum targeting 1.2840 area. Initial resistance is seen at 1.3100. Break above that level could be a potential violation to the current bearish view and lead us back to the no trading zone. CCI just cross the -100 line up on hourly chart suggesting a potential upside rebound.

FOREX TRADING SIGNAL FOR 14TH APRIL, 2009

SELL USDCHF @ 1.1336
SELL USDCAD @ 1.2194
Takeprofits is +50pips and stoplossess is -50pips for each.

GOODLUCK

FOREX TRADING SIGNAL FOR APRIL 14TH, 2009

BUY EURJPY @ 134.24. Takeprofit is +50 and stoploss is -50

Goodluck

FOREX DAILY TRADING SIGNALS FOR 10TH APRIL, 2009

BUY GBPUSD @ 1.4675
BUY EURJPY @ 132.24
BUY CHFJPY @ 86.88
SELL USDCHF @ 1.1560

Set stoploss for all the above currencies at -50pips and set takeprofits to +50pips

Other Currencies to Buy today: AUDUSD, USDJPY, CADJPY, AUDJPY, GBPJPY, EURCHF
Other Currencies to Sell today: USDCHF

GOODLUCK

FOREX DAILY SIGNALS FOR 10TH APRIL, 2009

BUY GBPUSD @ 1.4675
BUY EURJPY @ 132.24
BUY CHFJPY @ 86.88
SELL USDCHF @ 1.1560

Set stoploss for all the above currencies at -50pips and set takeprofits to +50pips

Other Currencies to Buy today: AUDUSD, USDJPY, CADJPY, AUDJPY, GBPJPY, EURCHF
Other Currencies to Sell today: USDCHF

GOODLUCK

FOREX TRADING SIGNALS FOR 10TH APRIL, 2009

BUY GBPUSD @ 1.4675
BUY EURJPY @ 132.24
BUY CHFJPY @ 86.88
SELL USDCHF @ 1.1560

Set stoploss for all the above currencies at -50pips and set takeprofits to +50pips

Other Currencies to Buy today: AUDUSD, USDJPY, CADJPY, AUDJPY, GBPJPY, EURCHF
Other Currencies to Sell today: USDCHF

GOODLUCK

BUY EURUSD @ 1.3265

BUY EURCHF @ 1.5231

BUY AUDUSD @ 0.7097

SELL USDCAD @1.2366

Takeprofits for all the above currencies is +50pips each and -50pips as stoploss.

Timeframes are all one hour chart

Other currencies to sell today are USDCHF, EURGBP.

other currencies you may buy today are GBPUSD, NZDUSD.

GOODLUCK

Click here to learn about how to generate these signals by yourself

FOREX TRADING SIGNAL FOR 8TH APRIL, 2009

BUY CADCHF now @ 0.9239. Takeprofit at +50 pips and stoploss at -50pips.

Timeframe is 1hour chart.

Goodluck

Click here to learn about how to generate these signals by yourself

FOREX SIGNAL FOR 8TH APRIL, 2009

CURRENCIES THAT ARE TO GO UP TODAY AND THAT ARE FOR BUY ARE: EURGBP and CADCHF

CURRENCIES THAT ARE TO GO DOWN TODAY AND FOR SELL ARE: AUDJPY, EURJPY, GBPJPY, NZDJPY, CADJPY, NZDUSD, AUDUSD, USDJPY, GBPUSD, CHFJPY and NZDCAD.

FOREX SIGNAL FOR 7TH APRIL, 2009

SELL CHFJPY @ 88.29. Takeprofit is +50 and stoploss is -50pips
SELL EURJPY @ 134.07. Takeprofit is +50 and stoploss is -50pips

GOODLUCK

Click here to learn about how to generate these signals by yourself

FOREX SIGNAL FOR 7TH APRIL, 2009

CURRENCIES TO BUY TODAY ARE:
USDCHF, USDCAD, EURGBP


CURRENCIES TO SELL TODAY ARE:
EURUSD, AUDUUSD, NZDUSD, USDJPY, EURCHF, CHFJPY, NZDJPY, GBPUSD, CADCHF, EURJPY and CADJPY

Try to use your trading method to confirm when to trade any of these pairs. We will post on when to open orders for them.

Goodluck

GBPUSD WEEKLY OUTPUT FOR THE WEEK OF APRIL 5TH-10TH, 2009

The GBPUSD made a significant bullish movement last week. On daily chart, we can see that after the pair failed to break the trendline support to the downside on Monday, the pair had a very nice bullish momentum during this week. I expect to see bullish continuation scenario next week targeting 1.5250 – 1.5300 area. Important weekly support is seen at 1.4750 -1.4670 area. Break below that area could be a potential violation of the bullish weekly outlook. See you guys next week and have a great weekend with your family and loved ones.

Click here to learn about how to generate these signals by yourself

Trend Trading

“The trend is your friend”…Haven't we all heard this one before? When you are on the wrong side of the Market, the trend can seem like your worst enemy. The question is: How can you develop a nice, cordial and long lasting friendship, with this seemingly fair weather friend? The answer may be patience. It is difficult to force a friendship on someone. They may not be receptive. But if you wait until you have a common goal, in this case EUR/JPY wants to go up, and you also want it to go up, then you may enjoy your time together. The Day Trader may be friend the 3 to 5 Minute Charts, while the Swing Trader makes friends with the 30 or 60 Minute Chart and the Position Trader looks to embrace the 12 Hour or Daily Charts. The Day Trader who forces a friendship with the Charts of the Swing Trader, may end up like a high school freshman who wants to hang around with the seniors, they will soon find that they really do not have common interests and their friendship will fade.
When you have the patience to stay within your circle of friends, then identify when you have a common interest, you may find there are many enjoyable moments along the way. The best part of a good friendship is that you can rely on an old friend, and trust that they will always be there for you, When we look at a recent Chart of the EUR/JPY we see where the Day Trader, who has made friends with the short term charts, sees an area where the trend is defined as up, by the crossover of two longer term Moving Averages. So, the trend is up and you would like to be friends with this trend, so you join your friend for some short term fun. You like to have fun too, so when the Market gives you a chance to join in, you choose to do so at closer to an average price, so you are not paying too much for the privilege. On the other hand, when you decide that you think the fun is over, and speculate that the trend will end, you can see how quickly your friend can turn on you and become your enemy. Best Wishes to you and your new found friend and Happy Trading!

PREPARE TO BUY EURUSD, EURCHF, CADCHF AND TO SELL USDCAD, USDCHF ON 3RD APRIL 2009

NUMBER 1 TRADE (SELL USDCHF)

SELL USDCAD if the price of the candlestick from the 1hour chart closes anything below 1.2344. Sell this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything below 1.2344

NUMBER 2 TRADE (SELL USDCHF)

SELL USDCHF if the price of the candlestick from the 1hour chart closes anything below 1.338. Sell this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything below 1.338

NUMBER 3 TRADE (BUY EURUSD)
BUY EURUSD if the price of the candlestick from the 1hour chart closes anything above 1.3475. Buy this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything above 1.3475.

NUMBER 4 TRADE (BUY EURCHF)

BUY EURCHF if the price of the candlestick from the 1hour chart closes anything above 1.5285. Buy this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything above 1.5285.

NUMBER 5 TRADE (BUY CADCHF)

BUY CADCHF if the price of the candlestick from the 1hour chart closes anything above 1.9191. Buy this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything above 1.9191.

FOREX TRADING SIGNALS FOR FRIDAY, 3RD APRIL 2009

Hi all, yesterday was a great day for us as we were able to make a whole +150pips from three trades and we never lost any trade today. But then, this is now in the past as we look up to what will happen today, Friday.

CURRENCIES TO BUY FOR TODAY
EURUSD, GBPUSD, EURCHF, EURJPY, CHFJPY, CADJPY, NZDCHF and CADCHF

CURRENCIES TO SELL FOR TODAY
USDCHF and USDCAD

We are going to be either buying these currencies or selling the ones concerned as our trading system had indicated to us that they are to be bullish/bearish today. Thus, aim to look for only buy opportunities on the pairs that we told you to buy and likewise with the sell orders. Goodluck. We will also post when it's best to buy or sell any of these currencies as the opportunites presented iteslf

MORE TRADE SIGNALS FOR 2ND APRIL, 2009

BUY CADJPY now @ 78.81. Takeprofit is +50pips and stoploss is -50pips. Goodluck

FOREX TRADING SIGNALS FOR 2ND APRIL, 2009

BUY EURCHF @ 1.5198. Takeprofit is +50pips and stoploss is -50pips. Goodluck

SELL USDCAD @1.2533. Takeprofit is +50pips and stoploss is -50Pips. Goodluck

MORE FOREX SIGNAL FOR GBPUSD, 1ST APRIL 2009

Put BUY STOP for GBPUSD @ 1.4413. Takeprofit at 1.4480 and stoploss at 1.4365

FOREX TRADING SIGNAL FOR 1ST APRIL, WEDNESDAY, 2009

Put SELL STOP order for USDCHF @ 1.1382. Takeprofit at 1.1320 and stoploss at 1.1434

Put BUY STOP order for CHFJPY @ 87.60. Takeprofit at 88.10 and stoploss at 87.10

Put BUY STOP ordere for EURCHF @ 1.5145. Takeprofit at 1.5190 and stoploss at 1.5101

MORE FOREX SIGNAL FOR 31ST MARCH, 2009

BUY STOP FOR GBPUSD @ 1.4341. takeprofit at 1.4400 and stoploss at 1.4300

BUY STOP FOR EURJPY @ 131.08. Takeprofit at 131.80 and stoploss at 130.55

SELL STOP FOR CADCHF @ 0.9083. Takeprofit at 0.9024 and stoploss at 0.9125

FOREX TRADE SIGNAL FOR USDCAD, 31ST MARCH, 2009

SELL USDCAD or put stop sell order for USDCAD from 1.2526. Take profit at +50pips (1.1476) and stoploss to -50pips

FOREX RESULT ON USDCAD, USDCHF OF LAST WEEK FRIDAY

Yes, we earlier predicted that the USDCAD had formed a double bottom on the 4hour chart and the trend is likely to be bullish. It was so and happily, we were able to make a total of +50 pips on the USDCAD pair and another total of +50 pips on the USDCHF pair. All these were courtesy of our trading system that indicated the trades and signals for us.

Click here to learn about how to generate these signals by yourself

Buy signal For USDJPY, AUDUSD, 26TH MARCH, 2009

BUY SIGNAL FOR AUDUSD put buy stop or buy from 0.7050. Take profit at 0.8020 and stoploss at 0.6968

BUY SIGNAL FOR USDJPY put buy stop or buy from 98.50. Take profit at +65 pips and stoploss at -57 pips

FOREX SELL SIGNAL FOR GBPCHF, WEDNESDAY, 25TH MARCH, 2009

We are going to be selling GBPCHF it had broken downwards under the support of a major triangle formation after being in a consolidation for several days/hours. Secondly, the RSI in both the daily chart and the 4hour chart are all below 50

HAPPY TRADING

SELL CADJPY @ 1.6304 and take profit at 1.6221, stoploss is -70pips

Click here to learn about how to generate these signals by yourself

HOW I BECAME A PROFITABLE TRADER

Hello Traders,

Here is an article recieved from a trader in the UK it is worth Reading.

What I learnt losing GBP 60,000 my first year as a full-time trader During my first year as a local (independent trader) on the floor of LIFFE, I bought and sold 8804 FTSE futures contracts, about 40 contracts per day on average. The result was a loss of ?61,620 or -?267 per trading day. I was profitable on 55% of days with an average gain of ?1009, my average loosing day was -?1780. My biggest one day gain was ?7730 and my biggest loss -?12,426. As you can probably imagine, this was a difficult time for me. I was trying to work out how to make money consistently. It was the consistency that seemed so hard to find. As you can see I was having a regular experience of making money, what was killing me were my losses. It seemed that every time I got ahead by ?5-6000 over a period of a week or two, I would lose it all and a few thousand more in the space of a couple of days. At the time I was too unhappy with my performance to be willing to spend any time analyzing my results. If I had I would have discovered that during this period all I needed to do to go from a loss of ?61,620 to a small profit would have been to avoid just 10 trading days. Those 10 days cost me a total of ?69,169! At the end of this period I was so frustrated, fed up and stuck that I decided to quit trading and return to a more secure career. It only took me a few weeks to abandon this plan and return to trading. I felt sure that I had the raw talent to become a consistently successful trader, what I needed, I reasoned, was some support. Support to stop me having the huge losing days that were crippling me financially. I approached a firm I knew that backed traders on the floor and they agreed to back me with ?20,000 of trading capital. We would split profits 60:40 and I was set an initial daily loss limit of ?500. If I hit my ?500 limit the firm's floor manager would come and tell me to go home. The third day trading I lost about ?3500 and nothing happened, no one came to ask me to stop trading. I felt very foolish, but continued to trade for the remainder of the week while avoiding any contact with the floor manager. The following Monday (the week's losses had totaled about ?5000) I got a message to meet with the director with whom I had made the agreement (it transpired he had been away the previous week). I was sure that he was going to say that the deal was off. Instead, to my surprise, he told me how important it was that he could trust me, he needed to know that when the market was volatile he could trust me not to be racking up big losses. He suggested that I start afresh. Needless to say I was both relieved and grateful. So I went back to the trading pit that morning with the determined intention to not loose more that ?500. The next two weeks turned out to be one of the toughest periods of my trading career and one of the most rewarding. Stopping when I was down was hard. I realized that what had been at the root of my large losses was my inability to accept loosing at all. To me loosing was unacceptable. Such was my intolerance for loss that I lost for ten consecutive days. But as the days progressed, even though I continued to loose ?500 a day, I found my mood lifting. I actually started to feel OK about loosing as long as it was within my limit. At the end of this 10-day period of losses a seeming miracle happened; I started to make money. My target was to get to +?1000 and then not give back more than 20% of my gain. So when I had a profitable day I was making between ?800 and ?2000, for an average of about ?1200. Not only did I start to make money, I did so for 15 days in a row, three entire weeks without a loss. This marked the beginning of a new era of trading for me. In retrospect, I believe that I had been trading scared, scared that I was really a looser. The two weeks of rigidly sticking to my loss limit caused me to revaluate myself. I started to feel good about myself for sticking to my limit. Before it was bad if I lost money, now it was only bad if I lost more than my limit. Before, I never knew whether I was going to make ?1000 or loose ?5000; now I knew that the worst case was a loss of ?500 and that was OK. I started to see that sticking to my trading limits was a sign of strengthand my confidence started to rise. Looking back at my first year's loosing streak, if I had restricted my losing days to -?500 my loss of ?61,620 would have turned into a profit of ?83,525. Not only that, I think that had I been sticking to a loss limit during that period, my confidence would have been that much greater and my percentage of profitable days would also have been higher. Scared money never wins, as the saying goes. If we are scared what are we scared of? "Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves: "Who am I to be brilliant, gorgeous, talented, fabulous?" Actually, who are we not to be? You are a child of God. Your playing small doesn't serve the world. There's nothing enlightening about shrinking so that other people won't feel insecure around you. We are all meant to shine, as children do. We were born to make manifest the glory of God that is within us. It's not just in s om e of us; it's in everyone. And as we let our own light shine, we unconsciously give other people permission to do the same. As we're liberated from our own fear, our presence automatically liberates others." Nelson Mandela Whatever is at the root of our fear, in order to become consistently successful traders, we have to overcome it by developing trust in ourselves, trust that we will always act in our own best interest. When we trade fearfully, we undermine ourselves and end up taking the very action that confirms our fear. The question is how to develop an unshakeable trust in ourselves? We develop trust in others through repeated experience of them acting in ways that inspire trust. In the same way we develop trust in ourselves as traders by building up a history of action that supports our goal to bec om e consistently successful traders. The more frequently we adhere to our own trading plan and limits the greater our self-trust. Now this sounds like a catch 22 situation, if you find like I did that you cannot help yourself, how do you start to develop self-trust through right action? In a way I was lucky, my back was against the wall, I knew that if I broke my limit I would be out. So I had to stick to my limit and in doing so I gave myself the opportunity to confront and finally reject my fear of being a loser. To go from being a net loosing trader to a consistently profitable one, we need to set ourselves achievable targets of behavior. My problem was allowing loosing days to turn into huge losing days, so to set myself the objective of stopping trading for the day when I was down ?500 was appropriate for me. For others the primary problem can be the resistance to taking a trade when a signal comes up, be it intuitive or mechanical. An appropriate exercise would be to take a simple mechanical trading system (it does not have to be much good, break even would do) and set the goal of taking the next 10 signals without hesitation, regardless of how you feel. We need to build up our trading skills one at a time, when we are confident we can cut our losses we can move onto execution, then we can work on holding on to profitable trades etc. Tennis stars don't become stars just through competition; they hone their skills one by one on the practice court and they continue to practice throughout their careers. As traders we need to identify the individual skills we need to develop and focus on them one by one. Som eone new to tennis does not expect to go out and win c om petitions straight away, they know they will have to spend a fair amount of time practicing and learning first. Short term trading, like tennis, is skill based, and those skills can be identified, practiced and mastered.

Malcolm Robinson
Thanks,
Article Written By
Casey-- Winners Edge Trading

FOREX ANALYSIS FOR EURGBP

EURGBP is currently in a free for all fall from a height 0.9511. Our trading system was able to detect this on time and so far, we've made a total of 211 pips from this free for all fall from the 4hour chart since yesterday. We hope to close the trade anything our trading software gives us an exit signal.

FOREX ANALYSIS FOR USDCAD, TUESDAY, 24TH MARCH, 2009

FOREX ANALYSIS FOR USDCAD

If you’ve been a USDCAD (a 4hour chart of which is shown) chart bear since last week, pay closer attention to whatever happens at this currency from today. This is because we may be seeing a bullish trend reversal of USDCAD since prices seem to have formed a double bottom on the 4hour chart of this pair. Also, prices had hit a major support in the daily chart.


What happens is that prices are in consolidation on the 4hour chart. A break above the resistance point of this consolidation would signal a bullish reversal phase but if the resistance can hold and prices breaks down further, we may be seeing more of bearish scenario. But for now, we remain neutral with this pair and sees out what happens.

But should prices here rises up, it should meet immediate resistance from the daily chart at 1.2297 and 1.2352

BUY SIGNAL FOR EURUSD, 24TH MARCH 2009

EURUSD is in a consolidation on the 4hour chart. We seriously hope that this pair should go up any time from now. If the price of EURUSD goes up and breaks the resistance of our trading chartpattern formation that had formed an expanding triangle formation, we hope to go long/buy for this pair from 1.3750.We believe to buy this pair once it breaks the resistance of our trading chartpattern that is currently in a consolidation state because both the RSI of the daily chart and the 4hour chart are above 50

SUMMARY; BUY EURUSD from 1.3750 or put buy sell order 1.3750
Takeprofit is +70 pips and stoploss is -55pips

HAPPY TRADING

SELL SIGNAL FOR USDCHF, 24TH MARCH 2009

USDCHF is in a consolidation on the 4hour chart. We seriously hope that this pair should go down any time from now. If the price of USDCHF goes down and breaks the support of our trading chartpattern formation that had formed a descending triangle formation, we hope to go short for this pair from 1.1150.We believe to sell this pair once it breaks the support of our trading chartpattern that is currently in a consolidation state because both the RSI of the daily chart and the 4hour chart are below 50

SUMMARY; SELL USDCHF from 1.1150 or put stop sell order 1.1150
Takeprofit is +70 pips and stoploss is -55pips

HAPPY TRADING

FOREX SIGNAL FOR USDCAD FOR SUNDAY, 22ND MARCH 2009

USDCAD is in a consolidation on the 1hour chart. We seriously hope that this pair should go down as trading begins on Sunday. If the price of USDCAD goes down and breaks the support of our trading chartpattern formation that had formed a descending triangle formation, we hope to go short for this pair from 1.2309.


We believe to sell this pair once it breaks the support of our trading chartpattern that is currently in a consolidation state because both the RSI of the daily chart and the 4hour chart are below 50


SUMMARY; SELL USDCAD from 1.2309 or put stop sell order for USDCAD at 1.2309
Takeprofit is +70 pips and stoploss is -55pips

SEE YOU NEXT WEEK

FOREX WEEKLY ANALYSIS FOR AUDUSD, EURUSD, CHFJPY, AUDJPY, ETC

Just as we predicted that EURUSD is to go up this week, it really did a 750 upwards movement for last week as noted by our trading software.
For this week, AUDUSD seems to be forming a double bottom from the weekly chart analysis. This is a bullish formation and we hope that the pair should continue its bullish/Long trend next week. The second reason is that the pair from the weekly chart had broken a resistance barrier and had moved upwards outside our trading chartpattern formation (triangular pattern).
Other bullish pairs to watch for this week are EURUSD, AUDJPY, EURJPY, NZDUSD, CHFJPY


HAPPY TRADING
Click here to learn about how to generate these signals by yourself

SELL CADJPY NOW, 19TH MARCH, 2009

We are going to be selling CADJPY since it had broken downwards outside the support of a major triangle formation after being in a consolidation for several days/hours. Secondly, the RSI in both the daily chart and the 4hour chart are all below 50

HAPPY TRADING
SELL CADJPY @ 76.39 and take profit at 75.39, stoploss is -60
Click here to learn about how to generate these signals by yourself

BUY NZDCAD, 19TH MARCH, 2009

We are going to be buying NZDCAD since it had broken upwards outside the resistance of a major triangle formation after being in a consolidation for several days/hours. Secondly, the RSI in both the daily chart and the 4hour chart are all above 50
HAPPY TRADING

BUY @ 0.6859 AND take profit at 0.6903, stoploss is -60

Click here to learn about how to generate these signals by yourself

FOREX TRADING SIGNALS FOR 18TH MARCH, 2009

SELL OR BUY ANY OF THE UNDERLISTED CURRENCIES FROM 3PM/14GMT

TIMEFRAME IS 4HOUR

FOREX SIGNALS:

SELL USDCHF 

SELL GBPUSD  

BUY   EURAUD 

SELL CADCHF

SELL AUDCHF

SELL GBPAUD

Take Profit is from +100pips upwards and fix stoploss at -80pips

Or leave position open for several days till RSI of the 4hour chart of the particular currency crosses back to above or below 50

We are going to be selling the above currencies since they have broken under the support of a major triangle formation after being in a consolidation for several days/hours. Secondly, the RSI in both the daily chart and the 4hour chart are all below 50

We are going to be buying the above currencies since they have broken upwards outside the resistance of a major triangle formation after being in a consolidation for several days/hours. Secondly, the RSI in both the daily chart and the 4hour chart are all above 50

HAPPY TRADING

Click here to learn about how to generate these signals by yourself

BUY SIGNAL FOR CADCHF, 18TH MARCH, 2009

Trade Summary:  Buy CADCHF @ 0.9282 and Take profit @0.9305

 

HAPPY TRADING

 

Click here to learn about how to generate these signals by yourself

TRADING RESULT FOR EURUSD,

Target for EURUSD was met successfully. Keep on with us as we await the next signal

BUY EURUSD NOW, 17TH MARCH 2009

EURUSD is to bought now after  breaking out from a consolidation channel. It's bullish.

Buy EURUSD @ 1.3000 and take profit at 1.3065, place stoploss @ -55 pips

HAPPY TRADING

 

Click here to learn about how to generate these signals by yourself

CLOSED GBPUSD

Our Open Position in GBPUSD has been closed.

REASON:  RSI in the 4hour chart and 1hour chart have moved to below 50 and to below a major support 80EMA on the 4hour chart. 

TIME TO BUY EURUSD, 17TH MARCH, 2009

GET READY TO BUY EURUSD AND CONTINUE BUYING GBPUSD

The EURUSD pair is currently trading inside a consolidated triangle pattern in the 1HOUR chart. Luckily for us, this type of triangle is an ascending one showing that the price of EURUSD is going to move up once prices broke outside the triangle upwards. As a matter of fact, we hope to be buying this pair once prices broke outside this triangle from above. But if prices broke downwards, the signal is no more effective and we will forget about trading for now. You can set a buy stop order to buy above the current price at 1.3050. Take profit at 1.3100

 

Summary:  Buy EURUSD and continue to buy GBPUSD

 

HAPPY TRADING

 

Click here to learn about how to generate these signals by yourself

FOREX SIGNAL FOR 17TH MARCH 2009, BUY STOP FOR GBPUSD

GET READY TO BUY GBPUSD

 

The GBPUSD pair is currently trading inside a consolidated triangle pattern in the 30 minutes chart. Luckily for us, this type of triangle is an ascending one showing that the price of GBPUSD is going to move up once prices broke outside the triangle upwards. As a matter of fact, we hope to be buying this pair once prices broke outside this triangle from above. But if prices broke downwards, the signal is no more effective and we will forget about trading for now. You can set a buy stop order to buy above the current price at 1.4100. Take profit at 1.4200

 

Summary:   place a buy stop order for GBPUSD at 1.4100 and set take profit at 1.4200. stoploss is -60 pips

 

HAPPY TRADING

 

Click here to learn about how to generate these signals by yourself

ORDER TYPES

ORDER TYPES

BASIC ORDER TYPES

There are some basic order types that all brokers provide and some others that sound weird. The basic ones are:

·                                 MARKET ORDER
A market order is an order to buy or sell at the current market price. For example, EUR/USD is currently trading at 1.2140. If you wanted to buy at this exact price, you would click buy and your trading platform would instantly execute a buy order at that exact price. If you ever shop on Amazon.com, it's (kinda) like using their 1-Click ordering. You like the current price, you click once and it's yours! The only difference is you are buying or selling one currency against another currency.

 

·                                 LIMIT ORDER
A limit order is an order placed to buy or sell at a certain price. The order essentially contains two variables, price and duration. For example, EUR/USD is currently trading at 1.2050. You want to go short if the price reaches 1.2070. You can either sit in front of your monitor and wait for it to hit 1.2070 (at which point you would click a sell market order), or you can set a sell limit order at 1.2070 (then you could walk away from your computer to attend your ballroom dancing class). If the price goes up to 1.2070, your trading platform will automatically execute a buy order at that exact price.  In limit order therefore, we have  LIMIT BUY where one sets his platform to buy below the current price. If you wish to sell above the current price, you will use LIMIT SELL. To by above the current price, use a STOP BUY order and if you wish to sell below the current price, use a STOP SELL order.

 

 

·                                 STOP-LOSS ORDER
A stop-loss order is a limit order linked to an open trade for the purpose of preventing additional losses if price goes against you. A stop-loss order remains in effect until the position is liquidated or you cancel the stop-loss order. For example, you went long (buy) EUR/USD at 1.2230. To limit your maximum loss, you set a stop-loss order at 1.2200. This means if you were dead wrong and EUR/USD drops to 1.2200 instead of moving up, your trading platform would automatically execute a sell order at 1.2200 and close out your position for a 30 pip loss (eww!). Stop-losses are extremely useful if you don't want to sit in front of your monitor all day worried that you will lose all your money. You can simply set a stop-loss order on any open positions so you won't miss your basket weaving class.

 

 

 

Weird Sounding Order Types

·                                 GTC (Good ‘til canceled)
A GTC order remains active in the market until you decide to cancel it. Your broker will not cancel the order at any time. Therefore it's your responsibility to remember that you have the order scheduled.

 

·                                 GFD (Good for the day)
A GFD order remains active in the market until the end of the trading day. Because foreign exchange is a 24-hour market, this usually means 5pm EST since that that's U.S. markets close, but I’d recommend you double check with your broker.

 

 ·                                 OCO (Order cancels other)

An OCO order is a mixture of two limit and/or stop-loss orders. Two orders with price and duration variables are placed above and below the current price. When one of the orders is executed the other order is canceled. Example: The price of EUR/USD is 1.2040. You want to either buy at 1.2095 over the resistance level in anticipation of a breakout or initiate a selling position if the price falls below 1.1985. The understanding is that if 1.2095 is reached, you will buy order will be triggered and the 1.1985 sell order will be automatically canceled.

Always check with your broker for specific order information and to see if any rollover fees will be applied if a position is held longer than one day. Keeping your ordering rules simple is the best strategy.