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.
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