Stop Fishing with False Breakouts - forex trading signals daily

Stop Fishing with False Breakouts ~ forex trading signals daily

False Breakouts to catch Stops

Stop Fishing in Forex

1 hour Stop Fishing | False Breakouts 

The Euro

 penetrated the monthly pivot (second test) but closed above it on the hourly chart (rejection). From there the Euro tried to break to the upside but market could not break the orange line (January low). The penetration of the recent pivots (low, high - red circle on hourly chart) and thus the stop fishing on both sides very often precedes larger moves in the market as most of the traders are already stopped out or trapped in the wrong position.

The failed break to the upside (orange line) with the clearing of the stops above the recent high (1.2614) of the short positions led to a third test of the monthly pivot today, which got already penetrated at the second test (weaker now). Some indication for a break of the monthly pivot were the facts that it was already the third test, the hourly close of the 11 a.m. candle below the monthly pivot and the confirmation of the break at 12 a.m. on the 5 min chart and at the 3 p.m. hourly candle close (lower close than the range of the breakout candle-blue circle on hourly).

 The blue circle on the 5 min chart at 1 p.m. shows how the monthly pivot started to act as resistance now and the green circle shows a typical 3-wave consolidation pattern before market impulsively moved down. The Euro found some support at  61.80 % fib retracement of the recent swing up at 1.2517 (brown line) and from there the Euro retraced up to the 61.80 % fib retracement of the recent impulsive wave down at 1.2543.

The consolidations below the weekly and monthly pivot on the hourly chart can be seen as bear flags.

Prior to the impulsive wave down market penetrated the recent lows (blue and red line), which often gives some short term support (see the candles with the long wick which penetrated these levels (12, 12:15, 14;20 p.m.-stop fishing accomplished).

Weekly and Monthly Pivot Point

On the 5 min chart (below) we also see the changing role from support to resistance of the weekly pivot and the August 2010 low (purple line). This price zone provided support in the Asian session (ellipse) before market breached this level (9 a.m.) and retested it at around 10 p.m. (now resistance).

5 min  EUR/ USD Chart analysis

More info for Stop Fishing with False Breakouts ~ forex trading signals daily:

Read more

UsdCad The Journey So Far And What To Expect - short term forex trading signals

UsdCad The Journey So Far And What To Expect ~ short term forex trading signals

UsdCad was my favourite currency pair. I have traded almost all the patterns in between  for a long time. Its count was so easy for me and at a glance, I saw what price was saying in every move and turn.

At the beginning of this year, I started with a bearish bias though with a long term bullish sentiment. The article was titled UsdCad Analysis for 2015. I forecast a rally in price to 1.35 and above, but after a dip to 1.0 region. 

Below is an excerpt from the article.

"In the long term, this current impulsive move from 2011 is probably part of the ‘C’ leg of the projected zigzag corrective pattern. The ‘C’ leg should take us to 1.35xx and 1.46xx in the years to come, probably a period of 3-4 years"

 

Price since then even rallied further quickly to a long term high in a 5-wave impulsive bullish move which fit a perfect flat formation (weekly chart) as I posted in what was titled Flat formation in Usdcad. I sold at the completion of the flat as I expected a full long term bearish move. Price only dipped for about 900pips before the bullish resurgence.

Price advanced to 1.255 and I labelled it a zigzag correction of the first bearish move which I favoured as an impulsive move though I had a corrective alternative. I chose the impulse because I expected price to react to a larger degree flat pattern..

The advance to 1.255, as a percieved zigzag pattern prompted me to a sell expecting a wave 3 dip which should at least break 1.19 below.

After that discovery, I posted an analysis titled Multi face analysis of Usdcad. 

Below is an excerpt from the analysis.

 

"The long term bullish flat correction which started in 2007 is expected to have ended. The first impulsive wave downside followed by a prospective zigzag corrective wave 2. 

Price is expected to start a new impulsive journey to the downside which is expected to take 1.1920 ( the first wave low) and to 1.1250."

 

Price dipped as expected in a move that was not typical of a wave 3, a zigzag to be precise. The dip ended at 1.21 which was 200pips away from the 1.19 low. Price advanced so fast in the manner of an impulsive move as I watched it broke above the 2015 high at 1.283 and I changed my wave analysis to what I have below.

 

 

 

  So if this is the case, what do we have in the longer term?

The dip from 1.283 to 1.19 was only the 4th wave of the last leg of the longer term (degree) abc correction to complete what pattern?. A zigzag probably.

The chart below shows an emerging long term correction.

 

This zigzag pattern has entered the region of the 4th wave of the impulsive dip from 1.62 to 0.905 ,as shown in the chart above, which is a good region for the completion of a corrective pattern especially a zigzag.

 

I expect price to continue the rally to 1.34 or 1.40-46 in a fifth wave journey after a minor shorter term wave 4 dip. 

 

These projected levels are similar to what I forecast at the beginning of the year as I have posted at the beginning of this article. 

 

What happened between January and July, of course, was a change of pattern which is what we use as elliot wave theorist to understand the behaviour of price.

 

We can follow price actions by analysing with elliot waves theory. 

 

By using elliot wave principles, we can :

1. identify the direction of the dominant trend.

2. identify counter trends.

3. determine the maturity of a trend and a counter trend.

 

As prices develop, we will look for inherent tradable patterns that will build our confidence and apply the right money management rules.

 

Trade with confidence. JOIN AN ELLIOT WAVE MENTORSHIP CLASS and be an elite trader.

 

More info for UsdCad The Journey So Far And What To Expect ~ short term forex trading signals:

Read more

News Release Trading the ECB - fxcoaching.com forex trading signals

News Release Trading the ECB ~ fxcoaching.com forex trading signals

Triangle Consolidation Breakout

ECB Meeting and Chart Analysis

Bear Flag patttern

The Euro moved down strongly after the news release from the ECB and the Euro took out the low from the 28th of June.

1-hour Triangle Consolidation Breakout

4-hour Bear flag

On the 4-hour chart we see that the Euro formed a bear flag (blue circle) after yesterdays down swing, which got triggered with the news release from the ECB. The Euro moved down straight and currently market found support at the monthly S1 below the recent daily low (pink line-28 of June).

On the hourly chart we see that EUR/USD formed a triangle (bear flag on 4-hour). The up-trending green line of the triangle got touched from the 8 a.m. hourly candle (weaken). The following hourly candle at 9 a.m. closed below the green line and the 10 a.m. hourly candle took out the triangle low (green line-grey circle). The Euro moved back into the price zone of the consolidation, which usually acts as resistance (12 a.m. -blue circle). Market moved down strongly from there with the news release form the ECB.


The brown circle on the 5 min chart (below) shows the breach of the up-trending line of the triangle consolidation pattern, which then started to act as resistance. Market initially moved down to the daily S2, penetrated it and retested this level from the downside (green circle) before resuming the down trend to the 61.80 % fib extension, the daily S1 and monthly S1 at about 1.2387 (blue circle). This swing down penetrated the recent daily low at 1.2707 (28 June) and market retested this level again from the downside (also 10 SMA-red circle) before market moved down to the 61.80 % fib extension at 1.2363 (pink circle). Market currently consolidates around the monthly S1.

5 min Triangle Breakout Euro Analysis

More info for News Release Trading the ECB ~ fxcoaching.com forex trading signals:

Read more

Mr Prabakaran Feedback form Excellent course with perfect strategy for any market 100 must professional course - forex day trading tutorial

Mr Prabakaran Feedback form Excellent course with perfect strategy for any market 100 must professional course ~ forex day trading tutorial

Mr.Prabakaran Feedback form: Excellent course with perfect strategy for any market, 100% must professional course

FOREX TRADING / FOREX TRAINING / FOREX ACCOUNT OPENING
FOREX ACCOUNT OPENING CONTACT US
Mail : infoqmanager@gmail.com Skype : qmanager.live
Phone : 0091 9487929983 and 0091 9600329983
Whatsup: +91-9487929983 and viber: +91-9600329983
Facebook : www.facebook.com/forextamil4u
Youtube : www.youtube.com/user/senthamizharasuvta
website: www.tradingwithtamil.com and www.forextamil.com
Broker : http://business.evenforex.com/

Tags: forex students, forex training sessions, forex webinar, forex interview, fidelis broker

More info for Mr Prabakaran Feedback form Excellent course with perfect strategy for any market 100 must professional course ~ forex day trading tutorial:

Read more

How To Exit A Trade With A Pattern - top forex trading signals

How To Exit A Trade With A Pattern ~ top forex trading signals

AudJpy was one of the markets doomed for a sell off after an analysis, based on elliot wave theory, that Japanese Yen was expected to strenghten across board, which means that Yen pairs were expected to fall.. 

Yen Pairs fell sharply days after the forecast.

 

AudJpys decline from 97.399 was expected to be in 5 waves trendy move. 

 Wave 3 of this impulsive move tend to be in progress after the completion of the first two waves.

 

 

 

 The 4th wave of this 3rd wave was clearly corrective. 

It was a double zigzag corrective pattern. Double zigzag is one of the corrective patterns I trade.

 The ending formation of this zigzag looked terminating. 

I put a sell order at the break of the supporting trendline at 91.69 risking 89 pips at 92.586. 

The final target was below 89.12. I expected price to move sharply downward. 

 

 

 

 

 

Price responded to the break and after many hours, formed the chart below

 

 

Price reaction to the end of a zigzag should be motive in nature. Price went sideway instead and completed a triangle. At the break of the triangle, I exited the trade totally with a loss of 15pips instead of 89 pips, that was a great loss cut.

If the above wave count will be validated by price, it should soar higher to complete a deeper correction before the bearishness starts.

If price likewise falls in the region of the triangle and break it below in what may look like the completion in a motive mood, my first analysis will hold and I will have missed a good profit.

The triangle formation is an anomaly and one should not trade with a mixed feeling.

More info for How To Exit A Trade With A Pattern ~ top forex trading signals:

Read more

What Did You Do With The Gold Rally - trading signals forex market

What Did You Do With The Gold Rally ~ trading signals forex market

On 21st December 2015, we forecast a rally after an ending diagonal formation which terminated the impulse bearish move since 2011.

Read the analysis HERE

We expect price to go higher.

Watch the video below

More info for What Did You Do With The Gold Rally ~ trading signals forex market:

Read more

Make Money With Forex Trading System - forex trading signals pdf

Make Money With Forex Trading System ~ forex trading signals pdf

To make money with Forex trading system, users can use the Internet and download a platform. Since real-time currency charts are available online, you can easily learn enough in the market to make the right decisions. The person who does not know much about the market, but wants to know more can use an automated Forex trading robot. If you do not have the time to do a little research, you can still take advantage of market fluctuations by using a managed account. Each of these styles can be very profitable if the right decisions are taken.

A robot is designed to track the movement of the pairs and the use of predefined conditions to warn the user that it is time to enter or exit a trade. Some software is designed to allow the user to set conditions. Some fund managers use the robot market as a useful tool for monitoring many pairs. Other programming software is preset and is used as a reporting tool when necessary conditions are met.

Forex robot systems can use one of the various components to design the entry point and mathematical output. Chart formations are often the basis of trigger points. Platforms usually built on indicators that can be accessed free of charge. Decide what factors are used is why more research on the market.

You can find the features that appear on the lists pairs, while the volatility of the couple. The number describes the speed with which the pair moves in the direction indicated. The volume is the number of transactions that occur in a given period. When the volume increases, the volatility of the couple often increases as the volume increases.

The volume and volatility due to a torque varies much during certain periods of the day. When markets of Japan, Australia, Europe and the US are open, the number of operations and oscillations of rising prices. Using a robot, you can leave that will help you find the best trades.

You can choose to see a single market, or only major pairs. Anyway, youll be able to set up the robot you are notified when something interesting happens. This allows you to make decisions quickly. Some software allows you to automatically place the trade.

The use of an automated Forex trading robot gives you the opportunity to take the signals of money trading the Forex system. You can use the tool to make their own business decisions. You will not have to rely on a fund manager or broker. I personally made more than 8 times on my money using a Forex automated trading robot and recommend.
More info for Make Money With Forex Trading System ~ forex trading signals pdf:

Read more

Investors Hated Gold at Precisely the Wrong Time What About Now - forex daily trading system reviews

Investors Hated Gold at Precisely the Wrong Time What About Now ~ forex daily trading system reviews

Investors Hated Gold at Precisely the Wrong Time: What About Now?
Sentiment extremes often foretell major turns in financial markets

By Elliott Wave International

Editors note: Youll find the text version of the story below the video.

I came across this sentence in an article about gold:

Nobody expects gold prices to turn up soon...

Another observer put it this way:

There doesnt seem to be anything on the horizon that will make gold prices go up.

It would be easy to think these comments published last week, when golds price reached a 4 1/2 year low ($1,131.85).
But in fact, those comments published on February 12, 2001 -- within days of golds major low of $253. Many investors missed the ten-year bull market in the yellow metal that followed.
The peak of that bull run was Sept. 6, 2011, when gold reached its all-time high of $1921.50. The then-prevailing sentiment was the opposite of 2001. A major global bank announced that golds "fair value" was $10,000 an ounce.
We had a different point of view. Just four days before golds top, The Elliott Wave Financial Forecast featured this chart and commentary.

Commodity fifth waves in major rallies often end in a final spike higher. ...
Golds wave structure is consistent with a terminating rise. As this monthly chart shows, prices exceeded the upper line of the channel formed by the rally from the 1999 low in what Elliott terms a throw-over. A throw-over occurs at the end of a fifth wave and represents a final burst of buying, as the last sub-waves of a rally conclude.

Financial Forecast, September 2011

Sentiment extremes often accompany major trend changes in financial markets. The Daily Sentiment Index (trade-futures.com) showed 98% gold bulls around the time of the yellow metals all-time high. More than that, a Gallup poll showed that Americans considered gold to be the best long-term investment.
Since then, the price of gold has fallen by over a third.
Now, pessimism is again the prevailing sentiment surrounding gold.
On November 10, an analyst told CNBC: "I dont see a reason why gold prices would continue going up - there are more reasons for prices to go down." The head of precious metals at a Canadian bank says, "The [gold] market still looks vulnerable."
On November 7, the largest gold-backed exchange-traded fund saw its biggest one-day outflow in nearly three weeks. October saw its biggest monthly outflow of 2014.
Whats next for gold? You may have guessed, the sentiment is again suggesting that the majority opinion (bearish, this time) will be proven wrong.
New Free Resource: The Gold Report -- 2015
New technical analysis, eye-popping sentiment studies, why most analysts missed golds 2011 top, plus a BIG near-term opportunity developing for gold investors right now. Log in to read the report now »
Dont have a login? Complete your free Club EWI profile to get immediate access to this report >>

---

This article was syndicated by Elliott Wave International and was originally published under the headline Investors Hated Gold at Precisely the Wrong Time: What About Now?. 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.

More info for Investors Hated Gold at Precisely the Wrong Time What About Now ~ forex daily trading system reviews:

Read more

Gold Intraday Triangle - long term forex trading signals

Gold Intraday Triangle ~ long term forex trading signals

Gold is presently in an intraday triangle pattern. If price breaks it down , we might see Gold selling at $1152.
Watch the following video

More info for Gold Intraday Triangle ~ long term forex trading signals:

Read more

Forex Trading The Best to Work With - forex trading signals alerts

Forex Trading The Best to Work With ~ forex trading signals alerts

Almost all internet marketers have heard of forex trading or forex trading online as it is sometimes called, and many are curious to know how currency trading system and where you can go to learn currency trading works.

A forex online tutorial explains how the forex market works and will also explain the types of forex orders that are available for you as a forex trader. A forex tutorial will also explain about technical indicators and what they mean, economic indicators and to consider the various options and strategies available to you as a forex trader.

If you are new to forex trading, then it is imperative that you learn forex trading before parting with your hard earned any money. Many online forex companies offer training and demonstrations that resemble free trade currencies in real time. There are also forex trading courses available and these are also a valuable way to learn to trade money you can refer to these time and again heard.

The most important aspect when it comes to trading currencies is to learn Forex trading and you understand how to negotiate and how to negotiate successfully. The more you learn forex trading the understanding that you have and the more success. Find a tutorial or forex trading, forex is easy. All you need to do is a brief internet search and you will have lots of tutorials and elective courses. If you are serious about succeeding as a currency trader, then, to learn the trade of money now and learn to succeed.

I firmly believe that education is necessary Forex Trading. Currency trading is inherently a technical game and you should have a basic knowledge of foreign exchange and financial conditions before you start currency trading. Examples include terms as the pivot point, and ask BID price, the bid / ask orders, limit and stop etc.

There are many Forex Trading courses and free online tutorials you need to really pay money when they start to learn forex trading.

Once you have some experience and trade in the currency market for a while, then you can buy during intermediate and advanced forex trading and forex course mentor.

Once you get the hang of it, I recommend you open a mini forex account. With a mini forex account, you can start trading with real money with as little as US $ 100. One reason is that if you have enough money to open a regular forex account, because it is usually a minimum of at least US $ 5,000. So this way you learn Forex.

Mini Forex account works just like an ordinary forex account and is a good way to start to learn and make mistakes and that your losses are minimal

We provide detailed information on forex trading for free, for beginners and experts have all the advice and Hicks to achieve higher goals in the field of currency.
More info for Forex Trading The Best to Work With ~ forex trading signals alerts:

Read more