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USD/JPY breakout on the monthly chart signals a possible retracement from 81.4 to 87.0 in a few months.

Good day traders! The chart below shows us that pair has succeeded in breaking through its down trend line on the monthly chart. It may signal further upside to the 87 region which happens to be the 23.6% Fibonacci retracement. If you are thinking of taking a longer term trade with a good profit loss

Euro breakout and heading higher to 1.345 level.

Good day traders! The chart below show the euro dollar trending up. The pair went lower early this week and has since went above its last high of around a.332. Above here the pair can be seen targeting the resistance level 1.345. I will be watching this pair closely as it goes higher and I would

Forex Trading near Christmas can be Risky

The reason why I came up with this post is because I want to remind myself as well as you guys out there thattrading in "thin" markets with lesser volume than usual can be very risky when you are at the wrong spectrum of the trade. Just look at the chart below. Its a 70

By |2017-01-01T13:01:25+08:00December 24th, 2010|Categories: Trading Education|Tags: , , , |1 Comment

When you see a Double Top and a Lower High, Short!

This post is a reminder to all of us trading the forex market. Here is the reminder: Do not look for complex systems to trade the market. Look for simple and proven signals that is timeless and can give you the 90 percent chance of success when you trade based on those signals. These signals

By |2018-03-19T12:17:32+08:00December 23rd, 2010|Categories: Trading Education|Tags: , |0 Comments

What to do When you Feel Lost in the Forex Maze

What would you do if you ever feel lost while trading forex? This is something that all traders would face as they manouver the forex market. How would anyone ever get lost in the forex market? Well, it is a feeling you get when after looking through the charts, you still don't know where the

By |2018-03-19T12:17:49+08:00December 22nd, 2010|Categories: Trading Education|Tags: , , , |0 Comments

Forex Trading: Dollar Index Chart Tool

Good day traders! In forex trading, it would be good if you take note of the trends in the US Dollar index Most of the major cuurency pairs are traded against the US dollar. What happens in the US will impact on the US dollar and hence the other major currency pairs. Happenings around the

By |2017-01-01T13:01:25+08:00December 14th, 2010|Categories: US Dollar Index|Tags: , , , , |0 Comments

Forex Trading: The Impotent Doji on USD/JPY

Good day traders! Took a trade today based on candlestick reversal signal, a bearish looking doji on the H4 of the USD/JPY chart was spotted. Clapped my hands with glee thinking that this is a no brainer trade that will make me some yummy pips. The failed doji on dollar yen trade This

By |2017-01-01T13:01:29+08:00November 11th, 2010|Categories: Daily Technical Strategy, YEN Crosses|Tags: , , , |0 Comments