Showing posts with label Foreign Currency. Show all posts
Showing posts with label Foreign Currency. Show all posts
Friday, January 15, 2010
Monday, March 9, 2009
500+ pips Trading GBP/USD using Candlestick patterns and Support and Resistance
We have already achieved our target of 500 pips for the month of March 2009 today. Friday the British lowered the interest rate by half a point on GBP and today the markets reacted further. The candlestick patterns are still trading within the channel and the upper channel continued to act as a resistance level.
I have put a limit at 1.3550 and would capture approx 950 pips on a single trade.
Accordingly trading the Fibonacci, Candlestick patterns and support and resistance with just a total of 7 trades between Feb and March we have made over a 1000 pips.
I have once again demonstrated under live market conditions that with proper education and analysis one does not need to scalp and can still consistently manage to profit from Forex.
Watch the video below to see the live market conditions.
Also remember that these are based on current market conditions unlike most educators who show you how the markets would have moved and how one could have made profits. I am putting myself on a limb when I do my analysis on live markets as I do not really know where the markets will go as I do not get the benefit of hindsight. It is always easy to show what could have been done vs. what should be be done specially when the candlestick formations are still not complete.
Good luck trading.
I have put a limit at 1.3550 and would capture approx 950 pips on a single trade.
Accordingly trading the Fibonacci, Candlestick patterns and support and resistance with just a total of 7 trades between Feb and March we have made over a 1000 pips.
I have once again demonstrated under live market conditions that with proper education and analysis one does not need to scalp and can still consistently manage to profit from Forex.
Watch the video below to see the live market conditions.
Also remember that these are based on current market conditions unlike most educators who show you how the markets would have moved and how one could have made profits. I am putting myself on a limb when I do my analysis on live markets as I do not really know where the markets will go as I do not get the benefit of hindsight. It is always easy to show what could have been done vs. what should be be done specially when the candlestick formations are still not complete.
Good luck trading.
Monday, March 2, 2009
Trading the GBP/USD - Candlestick Patterns
The GBP/USD trade placed by me last week is now 422 pips in the plus. The stock market has moved 300 points in the negative while we have moved 300+ pips in the positive.
The channel on the candlestick patterns have held true after the initial spike. The markets since reversed and the GBP/USD is back within the channel. I have moved my stop to the opening price of 1.4490 and hence I am now at a no loss position.
I have also placed a limit at 1.3550 and accordingly aiming for a profit of 940 pips on this single trade.
On other currencies we have had a breakout on the USD/CAD, and NZD/USD. I think there will be a slight retracement and we will have a chance to place a trade again.
I am also placing a short order today for AUD/USD as follows:
short entry: 0.6285
stop: 0.6485
Limit: 0.6100
I am also placing a short on the USD/JPY as follows:
Short entry: 96.93
Stop: 98.43
Limit: 95.43
If the above two orders do not execute by morning, I will cancel them.
It is rather a sad day to see our polictical parties politicize the economic recovery that USA needs. Instead of focusing on the long term including 1, 3, 5, 10 year plans they are instead just carrying on with their partisan bickering as usual.
I sure hope we will at some point work together as Americans, set aside our differences and work as one people towards common goals in a moderate manner. Both parties need to come to the middle.
Good luck with trading ...
The channel on the candlestick patterns have held true after the initial spike. The markets since reversed and the GBP/USD is back within the channel. I have moved my stop to the opening price of 1.4490 and hence I am now at a no loss position.
I have also placed a limit at 1.3550 and accordingly aiming for a profit of 940 pips on this single trade.
On other currencies we have had a breakout on the USD/CAD, and NZD/USD. I think there will be a slight retracement and we will have a chance to place a trade again.
I am also placing a short order today for AUD/USD as follows:
short entry: 0.6285
stop: 0.6485
Limit: 0.6100
I am also placing a short on the USD/JPY as follows:
Short entry: 96.93
Stop: 98.43
Limit: 95.43
If the above two orders do not execute by morning, I will cancel them.
It is rather a sad day to see our polictical parties politicize the economic recovery that USA needs. Instead of focusing on the long term including 1, 3, 5, 10 year plans they are instead just carrying on with their partisan bickering as usual.
I sure hope we will at some point work together as Americans, set aside our differences and work as one people towards common goals in a moderate manner. Both parties need to come to the middle.
Good luck with trading ...
Wednesday, February 25, 2009
Net 600+ pips for Feb 2009 - Fx Trades using Fibonacci and Candlestick Patterns
My earlier analysis was correct and has held true. It was just a temporary spike in prices that stopped me out.
Yesterday I placed three additional short trades on GBP/USD and today I am now up net of 600+ pips making up for my losses.
Watch the video that shows the simple technical analysis that demonstrates how this has been achieved using Fibonacci, Candlestick Patterns, Support and resistance.
Best of all this was done in just 7 trades this month !! That's about 1.25 trades a week. I do not overtrade and still one can make decent profits.
Yesterday I placed three additional short trades on GBP/USD and today I am now up net of 600+ pips making up for my losses.
Watch the video that shows the simple technical analysis that demonstrates how this has been achieved using Fibonacci, Candlestick Patterns, Support and resistance.
Best of all this was done in just 7 trades this month !! That's about 1.25 trades a week. I do not overtrade and still one can make decent profits.
Monday, February 23, 2009
140 pip loss on GBP/USD
since my last post yesterday, the market did reverese and my trade closed for a loss. I was incorrect in my analysis and it looks definitely like a reversal is at play. I shall update my analysis during the week and place new trades accordingly. You win some you loose some.
It looks like a major uptick on the GBP/USD is likely to happen.
It looks like a major uptick on the GBP/USD is likely to happen.
Sunday, February 22, 2009
1000+ pips trading GBP/USD using Fibonacci, Candlestick Patterns
The video below shows how it is possible to make over 1000 pips trading GBP/USD. The events of the week will tell us if my interpretation of the current market conditions using simple technical analysis like Fibonacci, Candlestick patterns and support and resistance is true or not.
Currently the GBP/USD has been trending with a channel for a few weeks / months and it is quite interesting to see the behavior of this currency pair.
It is always easy to show in a class room how one should have traded based on completed candlestick formations. The challenge is always when the candlestick patterns are in the middle of their formations like the video shows.
Please post your comments as the events of the week enfold....I might also place other trades during this week, so be on the lookout for possible new trades.
Currently the GBP/USD has been trending with a channel for a few weeks / months and it is quite interesting to see the behavior of this currency pair.
It is always easy to show in a class room how one should have traded based on completed candlestick formations. The challenge is always when the candlestick patterns are in the middle of their formations like the video shows.
Please post your comments as the events of the week enfold....I might also place other trades during this week, so be on the lookout for possible new trades.
Wednesday, February 18, 2009
EUR/USD Fx Trade for tonight Wed Feb 18, 2009
The GBP/USD trade is still open with an unrealized profit of 223 pips at the time of writing. The profit on this trade had shot upto 400 pips during the day and then retraced to its current level. My analysis still remains in place for this trade and hence I am not going to let it run for the moment.
Tonight however I have placed an additional entry order trade as follows:
Sell EUR/USD 1.2510
Stop: 1.2660
Limit: 1.2360
just one trade. No fibonacci analysis just support and resistance. The candlestick formation has penetrated the support line on the daily chart and hence the order. No further details on this as I am not totally sure of this trade, but my gut says the way I have placed the order if it executes I will profit else it may not execute.
Tonight however I have placed an additional entry order trade as follows:
Sell EUR/USD 1.2510
Stop: 1.2660
Limit: 1.2360
just one trade. No fibonacci analysis just support and resistance. The candlestick formation has penetrated the support line on the daily chart and hence the order. No further details on this as I am not totally sure of this trade, but my gut says the way I have placed the order if it executes I will profit else it may not execute.
Monday, February 16, 2009
Trading GBP/USD using Fibonacci, Candlestick Patterns, Support and Resistance
Folks the short video demonstrates the technical analysis that has gone into having almost 400 pips in less than a week with only 4 trades.
This was done with simple technical analysis using Candlestick Patterns, Support and resistance and Fibonacci (hourly charts) for the GBP/USD.
We are almost reached our monthly goal of 500 pips in less than a week with only 4 trades.
This was done with simple technical analysis using Candlestick Patterns, Support and resistance and Fibonacci (hourly charts) for the GBP/USD.
We are almost reached our monthly goal of 500 pips in less than a week with only 4 trades.
Sunday, February 15, 2009
Forex Trades using Candlestick Patterns, Fibonacci
My second trade for the GBP/USD reversed and closed for a 136 pip loss, but I placed 2 other trades as the patterns still hold true as can be seen from the chart below. The first has closed for a profit of 130 pips and the second is still open with a profit of 230 pips at the time of this post. I am going to ride this one as the overall candlestick patterns for channels (daily chart for GBP/USD shown below) holds true and this was also validated by the fibonacci retracements on the hourly charts (not shown here, but maybe I will record a video, if I get the time).
Accordingly I am up overall for the month so far 347 pips with 121 pips in realized profits and the remainder in open positions.
Accordingly I am up overall for the month so far 347 pips with 121 pips in realized profits and the remainder in open positions.
The candlesticks reversed almost touched the upper resistance line of the downward channel and reversed from there staying within the channel. This reversal occoured around the 50% Fibonacci retracements on the hourly chart, still validating my analysis that the candlestick pattern will likely hold true within the channel. Accordingly I am going for the larger profits for my open position and will not move my stops as yet until the market has moved further in my favor.
If I record a video showing the analysis then I will later update this post and put a link to the video here.
Feel free to email me questions (myforexdna@yahoo.com) or post your own results.
Tuesday, February 10, 2009
Forex Trades for Tonight - Tues Feb 10, 2009 11:00 pm
As you can see per the Forex Charts Technical Analysis for the GBP/USD (Daily Charts), we currently have the price trending in a channel. We have seen the candlestick pattern for the evening star formation at the top of the channel giving us reason to go short on the assumption that the channel formation will continue, and most likely the price will go towards the bottom end of the channel.
Keeping this in mind, I have placed two Fx Trades for the GBP/USD going short on both one with a limit and one without a limit.
Click the image below to see the details and then hit the back button on your browser when done:
The following are the trades for tonight see the pending orders section as the order has not yet executed at the time of posting: (click on the image to see the details and then hit the back button of your browser once done)
And by the way, yes I am back. The projects I have been working on have not finished, but while I have not regularly followed the markets, having seen the actions I feel compelled to start trading if I have to get back to a regular routine. So this month I will do my best to trade and update my blog to get back in the game so to speak.
Now this time I have not used the fibonacci analysis, as the trends are clear based on candlestick patterns and the channel formations.
Keeping this in mind, I have placed two Fx Trades for the GBP/USD going short on both one with a limit and one without a limit.
Click the image below to see the details and then hit the back button on your browser when done:
The following are the trades for tonight see the pending orders section as the order has not yet executed at the time of posting: (click on the image to see the details and then hit the back button of your browser once done)
And by the way, yes I am back. The projects I have been working on have not finished, but while I have not regularly followed the markets, having seen the actions I feel compelled to start trading if I have to get back to a regular routine. So this month I will do my best to trade and update my blog to get back in the game so to speak.
Now this time I have not used the fibonacci analysis, as the trends are clear based on candlestick patterns and the channel formations.
Tuesday, November 4, 2008
Forex Trades for Tues Nov 4, 2008 - 9:25 pm EST
As at the time of this writing I still have my AUD/USD buy trade open from last week. While at the end of Friday it was approx 180 pips in the plus today it was over 550 pips in the positive. At the moment it is still about 450+ pips in the positive and I am going to let it ride for some more time.
My trailing stop placed at 100 pips is now at 0.6600 while I purchased the pair at 0.6450 so I am guaranteed a profit of 150 pips even if the market reverses at the moment.
Currently on the hourly charts the pair is retracing a bit but a new low has not been created and neither has it breached the 50 SMA nor the long term support line. I am anticipating it to continue to rise further till about 100% of the earlier Fibonacci. The price did touch the 0.7000 mark and has retraced from there.
For tonight I am not placing any additional trades but will wait for the right opportunity. I am already up more than 200+ pips for the month and it is still the first week of November.
Please do visit my website www.myforexdna.com should you be interested in forex education and putting a game plan for your own trading pursuits.
My trailing stop placed at 100 pips is now at 0.6600 while I purchased the pair at 0.6450 so I am guaranteed a profit of 150 pips even if the market reverses at the moment.
Currently on the hourly charts the pair is retracing a bit but a new low has not been created and neither has it breached the 50 SMA nor the long term support line. I am anticipating it to continue to rise further till about 100% of the earlier Fibonacci. The price did touch the 0.7000 mark and has retraced from there.
For tonight I am not placing any additional trades but will wait for the right opportunity. I am already up more than 200+ pips for the month and it is still the first week of November.
Please do visit my website www.myforexdna.com should you be interested in forex education and putting a game plan for your own trading pursuits.
Monday, November 3, 2008
1177 pips for October 2008
My trades netted approx 1177 pips in profits for the month of Oct 2008 .... not bad, beat my target of 500 pips a month.
I did not close the AUD/USD trade Friday but let it remain open. I have moved the stop to capture a 50 pip profit.
It was open for a 180 pip profit as there was considerable retracement on the currency pair.
However today morning it is back up at approx 315 pips in profits and I am going to let it run for a while to check where it ends up. I may close it later depending upon market conditions.
No trades for last night or today morning, but will probably have some trades or analysis for you tonight.
Please do visit www.myforexdna.com to put a game plan around your trading and get some education.
I did not close the AUD/USD trade Friday but let it remain open. I have moved the stop to capture a 50 pip profit.
It was open for a 180 pip profit as there was considerable retracement on the currency pair.
However today morning it is back up at approx 315 pips in profits and I am going to let it run for a while to check where it ends up. I may close it later depending upon market conditions.
No trades for last night or today morning, but will probably have some trades or analysis for you tonight.
Please do visit www.myforexdna.com to put a game plan around your trading and get some education.
Wednesday, October 29, 2008
Forex Trades for Tonight - Wed Oct 29 2008
Based on last night's trades the results :
EUR/USD and USD/JPY both lost
One trade for AUD/USD closed for profit and the other is still open
Net loss of 155 and open trade of 400+ pips hence net open profit of approx 250+ pips for one day....
Watch video for analysis and remarks including trailing stops, limits for the open trade...
EUR/USD and USD/JPY both lost
One trade for AUD/USD closed for profit and the other is still open
Net loss of 155 and open trade of 400+ pips hence net open profit of approx 250+ pips for one day....
Watch video for analysis and remarks including trailing stops, limits for the open trade...
Tuesday, October 28, 2008
Trades for Tonight - Oct 28 2008 11:20 PM EST
Have 3 orders tonight
AUD/USD
EUR/USD
USD/JPY
Please watch the video to see details of orders and the analysis of the orders.
AUD/USD
EUR/USD
USD/JPY
Please watch the video to see details of orders and the analysis of the orders.
Monday, October 27, 2008
Trades for Tonight - Monday Oct 27, 2008 9:55 PM EST
see the video to watch the analysis. No trades tonight, however may place a trade for the USD/JPY based on the break out if it occurs tomorrow morning. Watch video to see details
or click the link here
http://www.youtube.com/watch?v=tuF7ExoNmw8
or click the link here
http://www.youtube.com/watch?v=tuF7ExoNmw8
Saturday, October 25, 2008
1100+ pips - Forex Recap for the week ending Oct 24 2008
Pretty profitable week. The video below shows a recap and I will be updating my website www.myforexdna.com/forexvideos.html to reflect all videos that walk you thru all the Forex Trades from the start of the week to all the Currency Trades that happened and how I did the trading.
Pictures are worth a thousand words and hence the videos that way you can see how I did it.
No secrets, no BS, just straight simple work and analysis.
Remember when I started these videos I had no idea whether my Forex Trades would be profitable or not. I do not have crystal ball. I am no guru just an ordinary guy and no I am not "Joe the Trader" either (no pun intended) !!
But I did take the time to learn Forex and took the time and discipline to practise. I enjoy it and I have shown on the videos how a few minutes a day Forex Trading can be rewarding.
I have on the main page of my website a mini plan that pretty much anyone can adopt towards becoming a successful Forex investor.
Do take the time and do invest into your own education (and this does not have to be expensive) to learn and practise a new profession and be successful at it. A strong foundation is the only way one can hope to achieve success.
or click the link to take you to youtube
http://www.youtube.com/watch?v=5OgmmDKYkg4
Hope you like it and enjoy the videos
Pictures are worth a thousand words and hence the videos that way you can see how I did it.
No secrets, no BS, just straight simple work and analysis.
Remember when I started these videos I had no idea whether my Forex Trades would be profitable or not. I do not have crystal ball. I am no guru just an ordinary guy and no I am not "Joe the Trader" either (no pun intended) !!
But I did take the time to learn Forex and took the time and discipline to practise. I enjoy it and I have shown on the videos how a few minutes a day Forex Trading can be rewarding.
I have on the main page of my website a mini plan that pretty much anyone can adopt towards becoming a successful Forex investor.
Do take the time and do invest into your own education (and this does not have to be expensive) to learn and practise a new profession and be successful at it. A strong foundation is the only way one can hope to achieve success.
or click the link to take you to youtube
http://www.youtube.com/watch?v=5OgmmDKYkg4
Hope you like it and enjoy the videos
Thursday, October 23, 2008
900 Pips for the week - Oct 23 2008
As of the time of this writing my profits for the month are over 900 pips.
The short video below shows the how I achieved these trades ... please also watch the earlier videos that show how I analysed the trades at the start of the week and patiently waited for the right moment to place the trade instead of trying to scalp the profits.
I have demonstrated over the course of the week via the videos that thru patience and a few minutes a day one can be smart about trading the markets without having to scalp profits.
Hope you enjoy this video and the 5 other previous videos on the topic.
Please do leave your feedback and let me know if there is a specific topic you would like me to cover and I will do my best to create a video on the topic.
On my website I have also laid out a simple game plan that one can adopt to achieve what I have demonstrated. I am by no means a guru at this but anyone with a bit of education (and this does not have to be expensive) can be successful trading the Forex Markets.
The short video below shows the how I achieved these trades ... please also watch the earlier videos that show how I analysed the trades at the start of the week and patiently waited for the right moment to place the trade instead of trying to scalp the profits.
I have demonstrated over the course of the week via the videos that thru patience and a few minutes a day one can be smart about trading the markets without having to scalp profits.
Hope you enjoy this video and the 5 other previous videos on the topic.
Please do leave your feedback and let me know if there is a specific topic you would like me to cover and I will do my best to create a video on the topic.
On my website I have also laid out a simple game plan that one can adopt to achieve what I have demonstrated. I am by no means a guru at this but anyone with a bit of education (and this does not have to be expensive) can be successful trading the Forex Markets.
Wednesday, October 22, 2008
Forex Currency Trades for Wed Oct 22, 2008
The video below shows the results from my trades yesterday.
There are no new trades tonight as I am strongly in the plus having met my objectives for the month. I am already over 500 pips for the month from just 6 trades. As of the time of this writing I am up over 800 pips for this month already.
I do not believe we need to overtrade and so I will pick and choose the opportunities.
Feel free to visit my redesigned website www.myforexdna.com to get a sense of how to start into the world of Forex Trading. I have also posted and will continue to post new videos and categorize them by topics as time progresses.
There are no new trades tonight as I am strongly in the plus having met my objectives for the month. I am already over 500 pips for the month from just 6 trades. As of the time of this writing I am up over 800 pips for this month already.
I do not believe we need to overtrade and so I will pick and choose the opportunities.
Feel free to visit my redesigned website www.myforexdna.com to get a sense of how to start into the world of Forex Trading. I have also posted and will continue to post new videos and categorize them by topics as time progresses.
Tuesday, October 21, 2008
Trades for tonight Tuesday Oct 21, 2008
The video below explains the trades I have placed and how I analysed them.
Please also watch the video which is a preamble to the video below:
Fibonacci, Candlestick Patterns, Support and Resistance
Good luck with your own trades and please let me know if you like this video and if you would like me to continue to show my analysis in this fashion.
Sunday, October 12, 2008
Forex Trades for Sunday Oct 12 2008
See My Analysis of the market here (Please watch in Full Screen Mode)
No Trades for tonight as explained in the analysis. The market has been extremely volatile and there will be significant interventions by a lot of folks in the marketplace eg Feds, G7, OPEC etc.
See my note yesterday on teh Economic Meltdown as well.
No Trades for tonight as explained in the analysis. The market has been extremely volatile and there will be significant interventions by a lot of folks in the marketplace eg Feds, G7, OPEC etc.
See my note yesterday on teh Economic Meltdown as well.
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