[Trade Signal] – A flippin’ & a floppin’

There is not too much different from yesterday & thus not a significant change in commentary.

EURJPY – Looking very much like its breaking through the boundary low we had marked off. As I type waiting for a pullback to enter below

EJ-Mar-21a

GBPJPY – Long entry set up voided and price is moving back into its previously established range. Waiting for a break out.

GJ-Mar-21a

GBPUSD – Shorts are pushing slowly down but with no real conviction. Im not tempted to add in just yet and playing the cautious card. Lets see where this move takes us before starting to get clever with adding in.

GBP-Mar-21a

Dow YM Futures June 14 – Price is moving back to the rising channel break point again. I still like shorts below 16,300 which is a discretionary decision outside of the normal strategy. Resuming looking longs above 16,350

YM-Mar-21a

EURUSD - Shorts are pushing slowly down but with no real conviction. Im not tempted to add in just yet and playing the cautious card. Lets see where this move takes us before starting to get clever with adding in.

EUR-Mar-21a

 

The trend is your friend… Again

This is a saying that has become cliche, but its a cliche for a reason. The trend truly is your friend until the bend at the end. Also knowing when the trend is starting also helps.

In our practical live training session we spend a lot of time trying to figure out whether or not price is trending or ranging. Seeing that price is doing one or the other is most of the time very simple and straight forward. But seeing when price transitions from one to the other is paramount to any trend strategies success in the Forex Market – Futures Market – Stock Market or any financial trading system that requires you to identify the trend.

The First stage would be to see that price is doing one or the other. This recent trade on GBPUSD highlights the first phase quite nicely as price has defined itself in a small range.

GBP-Nov-11-13a

Then we see GBPUSD move out of its consolidation but the key to not getting suckered in to several false starts is waiting for price to correct again and then to trade the pullback after that break out of the range.

This might sound simplistic but it really should be that simple. The hardest past in all this for many new and aspiring traders is to wait for the conditions to be right before pulling the trigger on a new trade.

GBP-Nov-11-13b

While not every trade will be a resounding success by waiting for this sequence of events you are stacking the odd more and more in your favour of a successful outcome. This is what you have to learn as a trader – not the pattern but the waiting for the conditions to be right for your set up.

GBP-Nov-11-13c

[Trade Signal] – History repeats itself…. again!

Generally speaking there are some very interesting patterns developing on the charts as I’m typing some of those are starting to complete quite quickly – the patterns highlighted show that history does indeed repeat itself over and over again for a smart trader to exploit.

Price on GBPUSD (& EURUSD) is finally trending nicely. On the weekly charts (not posted) price is suggesting a move down towards the 1.5000. The chart below is showing what is looking like a very nice add in opportunity developing into what are already some very good movements.

We speculated on these rallies that we are seeing now could well be the highs for the week and if so providing some very obvious and easy pickings for entries into the bigger moves.

The entry patterns developing are almost exactly as we anticipated first thing this morning in the live training room.

The BIG question right now is will this history repeat itself OR will it mutate and develop into something else – like a bullish ABC correction?

This is life on the hard right edge.

GBP-Nov-04-13a

EURUSD is by far the run away winner from last week. Also looking to add in as Im typing this posting.

EUR-Nov-04-13a

GBPJPY has nothing amazing to report other than it is still in a range and I’m waiting for price to break out before considering any new trading opportunities.

GJ-Nov-04-13a

Dow futures also in a slight consolidation. Based off the larger pattern and a potential move lower towards 14,600 level (see previous analysis) this pattern can be used to try and position ahead of a potential new short trend. As I’m typing this shorts @ 15,590 are open and price is pushing quickly lower.

Similar to last week – quick scale outs can be met with exceptionally low risk (see arrows on chart for past entry considerations)

YM-Nov-04-13a

 

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[Trade Signal] – Yawn… Another dull day in Forex

Generally speaking its turning out to be yet another dull start to the week. But then this has generally been the pace of things in Forex for most of this year.

[Forex] – Update

GBPUSD – GBPJPY – EURUSD – EURJPY all range bound in one form or another. Right now I’m sidelined waiting for things to develop and start looking a heck of a lot more interesting than they do right now.

On the higher time frames you can see similar ranging patterns develop highlighting that again for trending strategies we should be cautious and consider cash as the best option

EJ-Oct-28-13a

GJ-Oct-28-13a

GBP-Oct-28-13a

EUR-Oct-28-13a

[Futures] – Update

Dow stock index Futures continue to be the darling trade of the month for me. Originally starting longs at 14,800 I closed out at 15,500 on the button late on Friday, not wanting to quibble over the 50 points to the expected target level (which it has reached quite easily overnight)

Right now Im looking for longs again thinking we might see one final push up and maybe past 15,600 levels before anything else might be considered.

Short trades are now also a consideration as price is at the larger time frame channel highs. Generally its a great location for the next something to happen

YM-Oct-28-13a

 

[Trade Table]

No open or pending trades – will update if something new develops.

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[Trade Signal] – GBPUSD The best looking pattern today

Almost everywhere else is looking stagnant today after seeing ATR moves overnight. which doesn’t leave much to play with today. Dow still long FB & FSLR still long

[Forex] – Update

GBPUSD is looking like the most interesting chart today for me. Essentially we have what looks to be history repeating itself with an almost identical pattern last week.

The chart pretty much says everything else.

GBP-Oct-23-13a

 

update 24th Oct – Trade has moved enough to scale out a small profit and guarantee a risk free trade for me to not worry about IF history will repeat itself exactly.

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