What the Charts are saying about Yen ~ forex target trading reviews
The Yen is at an interesting level now and so are currency pairs and other markets related to it. On a long note, its been dipping since 2011, now at 2007 low.
Markets go up and down, in spiral form. When the price of a particular instrument goes up, its a normal thing to think of a dip.
The question now is Where? and When?.
Let me start this analysis from Nikkei 225 index which has a very strong negative correlation with the yen.
Typically when Yen falls Nikkei rises and without any surprises, Nikkei has soared from 2007/08 to a 20 years high region. A fall is expected soon.
The charts below show the elliot wave count of Nikkei on the Monthly and Weekly time frames and are looking very strong on the upside.
100% projection of its 5th wave from the 4th wave falls at 2165 and its neighborhood.
The long term rally could end at this resistance level.
Nikkei is expected to continue the rally to complete the last leg of the sub-wave of the long term bullish move.
The dip in Yen and rally in Nikkei are in very clear impulsive moves and a correction is expected targeting at least the region of the 4th wave of these moves.
Yen currency pairs like CadJpy, GbpJpy, AudJpy, NzdJpy and UsdJpy have been on a long term bullish impulsive move.
The UsdJpy is expected to follow this same pattern as shown in the chart below which also shows the possibe reversal zone by fibonacci extension tools.
AudJpy is illustrated in the chart below to complete the last leg of the long term impusive subwave. The possible region of reversal is indicated.
GbpJpy analytical chart is shown below.
And finally CadJpy
Updates will come as more price data are included to ascertain this analysis.
I will post updates.
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Anyway! Cable Is Bearish ~ successful forex trading signals
Elliot wave theory is the most complete technical tool to understand the position of price in the framework of the market.. It clearly tells us the degree of any trend and correction within a market structure; when they start and end and what to expect afterward.
The long term analysis of the Cable for more than 20 years can be analyzed by the two charts below.
The rally from 1.363 to 2.122 was a clear zigzag corrective pattern ( a possible wave 2, 4 or B) which is expected to be followed by a 5-wave sell off. The sell of started from 2.122 and has probably completed first two waves, the 1st wave was completed at 1.42100 in a truncated 5th wave followed by a zigzag correction which ended at 1.7230. Price went down in a big momentum to 1.4551.
The dip from 1.72 is expected to be a 5-wave move in a smaller degree. The rally from 1.4551 is corrective and price is expected to sell on a large trend.
The second wave analysis below also supports the long term bearish movement.
The price pattern that ended at 2.1180 was an ending diagonal. An ending diagonal characteristically ends a 5-wave impulsive move. This move is expected to be followed by a 3-wave correction.
The resulting correction is not clear but if the count above holds, we will probably see a zigzag correction. A zigzag correction is a (5,3,5) wave . The first 5-wave ended at 1.4160 followed by a 3-wave correction which ends at 1.72. A 5-wave move is expected to break 1.45 below.
That is how we use elliot wave theory to forecast price movement.
Has the present rally from 1.452 ended to pave way for the sell off?. We answer this question by analyzing price actions in the hourly charts. The hourly chart below show the position of price in the short term.
A double zigzag is probable which, provided price breaks the intraday 1.5695 resistance, could end at 1.65 before the bearish move. A break below the red trendline could mean that price is already for the bearish move especially if the momentum is high.
This is a forecast to determine price direction and zones. We should look for tradable patterns along the direction of forecast. If price moves contrary to the forecast, we can reanalyse and wait patiently for the right time to pull the trigger. Its about spotting high probability trades.
A winning trader does not follow price everywhere. He simply allows the market to connect to him before he connects to it.
JOIN AN ELLIOT WAVE MENTORSHIP CLASS and be an elite trader
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Intra day Triangle in Eurusd ~ forex trading reviews uk
On 31st may, there was an analysis here titled Two Face Of Eurusd and I wrote about the two possible near term scenario.
I though, maintained a bullish bias but with a condition. The bullish set up was satisfied and price rallied, just as expected. I posted an update before that. Read HERE.
To end that post, I wrote
"Its expected to be impulsive, but a deep correction could emerge in double or triple zigzag correction which would force us to note that there could still be some move downside despite the general belief that Eurusd has bottomed on the long term"
With the pattern forming now, as shown in the diagram below, the recent bullish move is counting toward a double zig zag correction.
There has been some economic news surrounding this pair of late. many investors are on the sideline and price went into a congestion ( a triangle correction).
Price broke out of the triangle with a minimal momentum and further momentum is expected for Eurusd to rally to 1.175... psychological level where the correction could finally end for the resumption of the long term bearsih movement.
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Dollar Index Preparing For A Deep Correction ~ forex trading course reviews
After a very long time, the dollar is finally testing the bearish side.
The long term advance that ended temporarily or permanently at 100.765 is appearing to favour the bearish side in what looks like a deep correction.
Double and triple zigzag corrective patterns form typical swings of higher highs/ higher lows for the bulls and lower highs/lower lows for the bears.
Price is expected to break below 93.06 (the last low) to form a lower low, and that would be a typical double zigzag. The dip is projected to get to 90.30.
This should affect Usd currency pairs especially the Eurusd which is presently forming the same pattern to the upside.
Price will prove everything right or wrong. Elliot waves theory helps to follow price and project possible turning points.
The labelled support and resistance levels in the chart below should be watched with keen interest.
Updates will come as price movement proceeds
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Yen Is Expected To Strenghten Across Board ~ forex trading reviews blogs
On 3rd June we had an analytical report titled What the Charts are saying about Yen. We saw how Yen has dipped for many years, from 2011 and making a 4 year low.
We made comparisons with other Yen pairs and forecast an imminent reversal in the event of things, but not until further movement up.
We forecast levels of reversal for UsdJpy, CadJpy, GbpJpy, AudJpy. Among all these pairs, we chose to look closely at UsdJpy and CadJpy
#UsdJpy
Price broke above the intraday triangle (intra day wave 4) to move in a clear 5-wave impulse to the upside.
The intraday wave structure is labelled below.
The wave intraday 5-wave perfectly fulfill all elliot wave rules and guidelines for an impulsive wave.
As expected, price crashed below the 4th wave and then retraced to 124 which is a good intra day resistance.
Price could crash further to 119 ( the low of the longer term 4th wave).
We took our sell order at 124 last week with stop loss slightly above 126 and our first ultimate target at 119.
We had the courage to take this trade because we percieved the Yen might start strenghtening across board and with a deeper bearish corrective bias on Usd Index.
#CadYen
After the completion of the triangle 4th wave, we took the ride up and exited at 101 for a profit of 170pips.
Price forming a rejection sign at a crucial resistance level. It might start falling from there as expected
Updates will come later.
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Usdcad Ready For Bullish Breakout ~ forex trading book reviews
In my last post on Usdcad, I mentioned a triangle correction. If this correction holds and break upside, I will look forward to take a buy despite my overall bearish bias.
Presently, by the intraday chart, price has completed the fifth leg of the triangle and its now going up.
This intra day upward move looks impulsive ( especially when viewed on the 15min chart)
According to the wave pattern on 1hr, this first impulsive move should break out of the triangle if it is anything serious.
The following correction should retrace to the break point of the triangle and a buy trade can be taken if price doesnt fall back to the triangle massively.
If price behaves this way, there is a high propensity of price getting to 1.2900 which a resistance level. 1.2800 is a closer resistance and we must watch how price reacts to it.
If price behaves otherwise and fall back to the triangle, more analysis will be needed as a very complex correction is at stake and care should be taken.
As price gives more data, we can see what its next movement could be.
You can scroll down to read some of the recent analysis I did on Usdcad for better understanding
I will be here to update you.
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Eurusd Completion Of Bearish Cycle ~ auto forex trading reviews
This market has for long crashed down. I am one of the people waiting for a turn. With the completion of the long term bearish correction, price is expected to move up.
A trigger is needed and it seems we have now.
From the weekly chart I have below shows the wave analysis from the beginning of this millenium 2000till date, during which we have a five wave impulsive move followed by a zigzag corrective patter.
The B leg of of this zigzag is a triangle formation.
Triangles are known to usually precede the end of a run. Price broke out massively in a trendy impulsive move ( this can be seen clearly on the daily chart).
The C leg of the zigzag completes a 100% extension of A leg from B leg which is a very typical fibonacci relationship in zigzag corrections.
Price is expected to turn from here to 1.1800 resistance, 1.2600-1.3000 ( breakpoint retest of the triangle) and if the long term bullish trend resumes, price go higher and higher.
Always check here for updates of the move and how I intend dealing with price actions along the way.
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VIDEO Want a Sure Fire Forex Trade Setup Look for a Triangle ~ forex trading coach reviews
(Video) Want a Sure-Fire Forex Trade Setup? Look for a Triangle Watch this quick educational video from an Elliott wave forex expert, Jim Martens
By Elliott Wave International
Last fall, the editor of Elliott Wave Internationals Currency Pro Service, Jim Martens, observed a beautiful pattern in the chart of the Japanese yen. This pattern, called a triangle in Elliott wave terms, offers a very clear outlook for the market.
What is a triangle? Its a corrective pattern, meaning that it moves in the direction opposite the primary trend. And, its very easy to spot on a chart. Heres an idealized diagram of a triangle.
When a triangle ends, the old trend should resume. This allowed Jim to make a very clear forecast for the dollar/yen. Watch this 7-minute video to see the triangle he observed, and the outcome.
Free 14-page eBook: Trading Forex: How the Elliott Wave Principle Can Boost Your Forex Success
Elliott Wave Internationals Senior Currency Strategist Jim Martens pulls from 25+ years of experience using Elliott wave analysis to show how you can put the power of the Wave Principle to work in your forex trading.
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This article was syndicated by Elliott Wave International and was originally published under the headline (Video) Want a Sure-Fire Forex Trade Setup? Look for a Triangle. EWI is the worlds largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.
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Watch Out For EurUSd ~ forex trading signals that work
The last update I did on this currency pair was titled How to trade the elliot wave pattern when I wrote about how to follow price actions using elliot wave analysis and trading clear patterns that price usually respond to.
Prior to that, there was an update titled Eurusd in a bearish net , which was immediately followed by a fast bearish move.
I still maintain my belief that the larger term direction is bearish. The bullish move from 1.05 is clearly a correction.
What corrective pattern price is trying to form and when the bearish movement will start, is what we want to know.
The chart above shows two corrective waves- [w] and [x]. Wave [w] is a corrective zigzag while [w] fits a flat.
The wave c of [x] is emerging as an ending diagonal, a tradable pattern.
If price dips a bit from the current position ( to complete the last leg of the diagonal) and break above the emerging diagonals wave iv, we should be seeing Eurusd advancing.
Levels to watch out for are 1.45 and 1.8 .
This bullish corrective pattern, if not a complex correction, could be a double zigzag.
Price will validate or invalidate this analysis. It is what I expect of price and if price agrees with me, I will key in.
There will be an update later.
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AudNzd Preparing For A New Bullish Move ~ forex trading reviews news
From the weekly chart below, its clear how this pair has dipped from year 2010. In a clear 5-wave impulsive move, price bottomed at almost 1.00 making Aussie at par with Nzd.
1.00 was a very strong psychology level and price , as expected, advanced in what look like a five wave impulsive bullish move of a lower degree.
The lower degree bullish move is expected to reach 1.127 which a strong resistance.
The pattern forming from the intra day chart below is a zigzag correction making the fourth wave of the bullish advance discussed above.
An intraday break above 1.0817 should trigger the bullish move and the near target should be 1.127 if 1.09 resistance is broken upside
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More info for Mr Prabakaran Feedback form Excellent course with perfect strategy for any market 100 must professional course ~ forex day trading tutorial:
Danger looming for Equity Forex Markets GBPUSD at 8 month high ~ forex trading system wikipedia
The dollar plummeted against most major currencies on Wednesday after the Federal Reserve said it was making no changes to its USD85 billion monthly bond-buying program.
GBPUSD today is close to an 8-month high, after soaring more than 1.5% over the last 10 days. This poses a problem for Forex Software Traders, who depend on the small market fluctations in stable currencies for profits. Especially for Robots that use the Martingale (doubling) system, these uncertain times could spell disaster.
My personal view is that danger is looming; diversify your portfolio into safer investments, and possibly into Gold/Silver, Bitcoin, or Chinese Yuan (RMB). My best advise is to do your own research into these opportunities and examine if they fit your overall Investment Strategy, based on your Risk Preference.
Source: Forex - GBP/USD holds gains, near 8-month highs http://www.investing.com/news/forex-news/forex---gbp-usd-holds-gains,-near-8-month-highs-252850
Source: Gold Traders Split on Two-Year Anniversary of Peak: Commodities http://sgx-news.blogspot.in/2013/09/gold-traders-split-on-two-year.html
Just a little background, I was using a Forex Automated Software to trade the GBP/USD pair since November 2012. In light of the Economic Instability due to recent World Events, I have since stopped.
You can find out more about how the Forex Robot works at autoforexsg.wordpress.com. The Robot is still available for purchase, feel free to contact me if you have any questions at all. However, trade with caution!
Source: Youtube - When Will The Economy Collapse?
Source: Youtube - World War 3 Has Already Begun
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Gbpusd Intraday Market Update ~ saxo bank forex trading reviews
I will be building on the analysis I did on 22nd of this month. You can scroll down the blog or click here.
I noted an ending diagonal as part of the zigzag pattern that I thought could end wave 4 of the larger wave in order to be part of the potential large move downside.
I put a sell order at the break of the diagonal and soon market started moving up and down showing the diagonal might not have finished forming. A diagonal is usually followed by sharp moves
I exited the trade manually with -70pips in order to analyse more critically.
At the end of trade on 25th February, I saw that ending diagonal was still intact with double zigzags in between its legs.
The fibonacci extension of wave A from B has pierced the 161.8% and price is now heading to 200% fibo extension level at 1.5560 and its neighborhood.
This level could mark the last wave to complete the diagonal before a crash down. A crash down could happen if the 200% level holds and price breaks below the support trendline of the diagonal.
Zooming down to the 15minute chart, something very interesting also surfaced.
The supposed last wave of the expected diagonal formation, vividly seen on 15 minute chart is also forming a diagonal.
This would be a massive move. That will be dual time diagonal formation.
If the 200% holds at the turning point, i would trade aggressively at the break of the 15 minute ending diagonal.
A conservative way of trading is by waiting for the 1 hour diagonal to be broken downside by price. Proper stop order should be done with good money management.
I will see you in the next update.
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Watch For Double Top Neckline on Usdcad ~ standard bank forex trading reviews
In the last post on usdcad where I forecast a bearish move. Read the analysis here. I put a sell order and since I have been raking about 180pips risking just 85pips.
I closed about 60% of my trade and will allow the rest to run as i watch price action along the way. I might also add to my position if I see a good bearish continuation wave set up.
Presently market is moving well and more bearish move is expected especially if the srong intra day support indicated below is bridged.
I also spotted a reversal double top formation which if completed could add more reasons to why I chose to sell Usdcad
Watch out as price play the game and we follow
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Nikkei 225 index at 15 years high What for Yen ~ forex trading apprentice review
Japanese stock index, Nikkei 225, nearing 15 years high. Massive impulsive move about to complete probably at 20600-50 level. Massive correction is expected to the south. This could spell something for the YEN
Posted by Sanmi Adeagbo on Sunday, May 24, 2015
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Forex Trading Tips for Full Time Forex Trading Success ~ forex trading signals explained
Trading on the success with a forex market usually takes much longer than most traders would do. With all the trading systems and exaggerated misinformation floating around on the internet these days, it can be very difficult to get her career started on the road to consistent profits. You will need some tips you browse endless amount on Forex websites trying to sell commercial systems based on indicators ineffective or expensive commercial software. Lets look at some solid business advice that will give you an idea of ??how you learn to trade forex. The only trade with money you can afford to lose. Many traders make the mistake of starting to use the money that really should not be risky in the markets. If you risk money you really can not afford to lose, you will be an emotional mentality, and it essentially condemn their chances for success in the currency market.
Do not over trade. FX traders candidates as often make the mistake of too commercial. This is usually derived from not having an effective trading strategy, or have one but do not have "dominated". To prevent excessive trading you really need to be 100% sure of what you want in the markets, and you can not use unless their border is actually present. This is something that has the mental strength and discipline to achieve. Not too sure. Another big mistake that many traders make is risking too much money aspirants in the same trade. You must understand that trade is the success of measurements on a large number of trades, not one or two. If you understand this and accept fully, you will notice that there is no reason to over-commit your trading capital to set up a trade. Be realistic. It is very important to have realistic expectations about the amount of money you can make in the markets, given the amount of money you are trading with and their level of trading experience. You will have to obtain quality forex trading education before you start trading with real money. This education should be taught to use a high probability trading method you really read the sign price mechanisms rather than just blindly that the power input and signal output. Forex tips above should be read and followed carefully, may seem a bit general, but are very important and which come from years of trading experience and trial and error. No matter what the trading strategy or system you end up using, previous forex tips will help you succeed and should not be taken lightly. The hardest part of becoming a successful forex trader is simply disciplining you just follow the previous trading tips in Forex, if you can do that, you have a real opportunity to profit consistently in the market for FX Exchange . More info for Forex Trading Tips for Full Time Forex Trading Success ~ forex trading signals explained:
Is Usdcad Ready For The Bullish Resumption ~ forex trading demo reviews
If you want a comprehensive analysis on Usdcad, you can read the one I did on 20th of this month. The analysis supports a bullish move.
The recent bearish movement we had ( if completed) is a bearish complex correction and I expect Usdcad to rake high to 1.1850 ( more than 500 pips away) in a new bullish motive wave.
Coupled with the fact that Usdcad has a very strong negative correlation with Oil price which is dipping so fast, I wont be surprised if the move is very fast to the north.
I will wait for an intraday retracement to 1.1310-1.1300 before taking a long bullish adventure on Usdcad
Meanwhile, I have a new wave count which doesnt contradict my bullish bias
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Time for Commodities Silver Gold Chinese Yuan RMB and Bitcoins ~ forex trading system winners
In light of the recent US Government Shutdown on 1st October 2013, and upcoming Debt Ceiling talks, I have decided to stop my Forex Trading with the Leo EA. If you are currently trading in the Forex or Equity markets, please be safe! Nothing is for certain in this economy.
With that said, I will be looking to move my investments towards 3 main products:
Silver & Gold
Chinese Yuan (RMB)
Bitcoins
Read more in my previous post: Danger looming for Equity & Forex Markets - GBPUSD at 8-month high
Will share my own thoughts and reasons for this decision over the next few posts. So stay tuned!
In the meantime, diversify your portfolio and do your research into whats going on in the world today.
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Germany recognises Bitcoin as currency (forexstrikervideo.com)
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Jim Rogers goes for Gold Sugar Chinese RMB and Russian ETFs ~ forex vertigo trading system
Jim Rogers, touted as a legendary commodities investor, is an investor and author based in Singapore. In his recent interview on FOX Business, Rogers outlined several investment opportunities:
Gold, if it goes below US$1000 per ounce
Sugar as a commodity, and Sugar companies
Chinese RMB
Russian Exchange-traded Funds (ETFs)
Source: Jim Rogers: If Gold Dips Below 1K, Ill Buy
In another video, Rogers talks about the artificial stimulus package introduced in the United States, and believes that America will "default (on its debts) one way or the other". When that happens, he believes that the Dollar will lose its place as the World currency.
Source: Jim Rogers Discusses Gold, Housing and China
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JIM ROGERS - When the FED stops PRINTING FIAT CURRENCY the COLLAPSE will be here. PREPARE NOW (disclose.tv)
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Jim Rogers Warns US Stock Investors Be Careful ... Youre In A Fools Paradise (infiniteunknown.net)
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