Stockmarket Trading, Forex, Commodities.

[Paulo1]

EURUSD. At this moment it isn't certain that support 1 will hold, since the price action is contained in a bull wedge a final outbreak to the upside to test the 2008 resistance is most likely. An exhaustion bear run to support 2 (parallel of March 2013 bull trendline) before the final outbreak when support 1 don't hold. When support 2 don't hold, previous low and support 3 become focus points. Many scalps and swings on the way up and down.

Screen shot 2014-01-23 at 12.36.39 PM.png

USDCHF and EURUSD mirror each other, but inverted.. Last night I got 2 nice trades from both short USDCHF and Long EURUSD. Entries were made on 5min using my scalp method and adding more weight was the break of the upper TL line on the bull wedge you mentioned. I had the same daily TL on my charts.. Have a look at it on the 5 min charts around the TL perfect signal even if that all you use.

The monthly setup I posted will be cancelled if the highs are taken out.with a daily close. Monthly candle needs to close near 1.3525 zone . This trades can take a while. Dollar index is trading at intraday support around 80.43 and major support at 80.00 ,

Hi Paulo,

For now I only scalp and swing fibre, sometimes I have days of 20+ trades. So I was in for a +/-5 pip profit and at the point where I was going to take my profit I noticed some activity that could lead to higher profit so I decided to stay in. The probability was on my side, I checked the hourly and saw I was in very early (unintended) in the beginning of a bullisch spike with high potential for followup bullish price action, it was D-day for the wedge and went all the way up.

Because initially I was in for only a small profit my risk was tiny, this has been my most profitable trade ever, besides this I have been in a winning streak for 25 trades now. I quit trading for a while and have a short vacation to clear my mind.

Good trading,

Rimbuman

Screen shot 2014-01-23 at 11.27.11 PM.png Screen shot 2014-01-23 at 11.29.44 PM.png

That's awesome trading. My short term charts have similar lines and the wedge line was exactly the same. I appreciated the quality of your chart.

I trade all timeframes using a Macro=top down approach, always looking at longer periods to drop down to the scalp method and trade in that direction. Even if I have long term position trades or swing trades I always look to trade the direction of the longer term trend on my scalps, but that's not set in concrete either as a 10 pip scalp has no relevance to the longer term trend. The reason I like to scalp in the direction of the long term trend is you never know how far a scalp could go when scalping in direction of the trend.

Last night my scalp trade on EU and UC was only targeting 10 pips but ended up well over 200 pips. Some days I will do 20 scalps at about 76% success, 10 pip stop and 10 pip target, using Tradestation 70 tick chart which is similar to a MT4 30 second chart.

My Mt4 scalp method uses 1hr, 15 min, and 5 min for entry and targets.

Happy Trading and enjoy your rest.

[MrWorldwide]

9th not the 23rd - I think its fair to say that you were talking a very different timeframe. In any case, I'm hardly 'all upset' in a demo account - loosen up

[Paulo1]

9th not the 23rd - I think its fair to say that you were talking a very different timeframe. In any case, I'm hardly 'all upset' in a demo account - loosen up

You could be the best demo trader in the world and would I respect that NO. You can be a loosing trader on a micro account and would I respect that YES.

Try a live account perhaps you are better than you think.

[MrWorldwide]

Eventually, but given that I'm not the best *anything* I'm happy where I am till I get properly set up in April/May.

Edit: I accept what you are saying re 'trading with your own money vs demo trading with fantasy money' - I just need to get settled into my new (retired) life before I start spending real dollars.

Edited January 24, 2014 by MrWorldwide

[Rimbuman]

EURUSD. At this moment it isn't certain that support 1 will hold, since the price action is contained in a bull wedge a final outbreak to the upside to test the 2008 resistance is most likely. An exhaustion bear run to support 2 (parallel of March 2013 bull trendline) before the final outbreak when support 1 don't hold. When support 2 don't hold, previous low and support 3 become focus points. Many scalps and swings on the way up and down.

Screen shot 2014-01-23 at 12.36.39 PM.png

USDCHF and EURUSD mirror each other, but inverted.. Last night I got 2 nice trades from both short USDCHF and Long EURUSD. Entries were made on 5min using my scalp method and adding more weight was the break of the upper TL line on the bull wedge you mentioned. I had the same daily TL on my charts.. Have a look at it on the 5 min charts around the TL perfect signal even if that all you use.

The monthly setup I posted will be cancelled if the highs are taken out.with a daily close. Monthly candle needs to close near 1.3525 zone . This trades can take a while. Dollar index is trading at intraday support around 80.43 and major support at 80.00 ,

Hi Paulo,

For now I only scalp and swing fibre, sometimes I have days of 20+ trades. So I was in for a +/-5 pip profit and at the point where I was going to take my profit I noticed some activity that could lead to higher profit so I decided to stay in. The probability was on my side, I checked the hourly and saw I was in very early (unintended) in the beginning of a bullisch spike with high potential for followup bullish price action, it was D-day for the wedge and went all the way up.

Because initially I was in for only a small profit my risk was tiny, this has been my most profitable trade ever, besides this I have been in a winning streak for 25 trades now. I quit trading for a while and have a short vacation to clear my mind.

Good trading,

Rimbuman

Screen shot 2014-01-23 at 11.27.11 PM.png Screen shot 2014-01-23 at 11.29.44 PM.png

That's awesome trading. My short term charts have similar lines and the wedge line was exactly the same. I appreciated the quality of your chart.

I trade all timeframes using a Macro=top down approach, always looking at longer periods to drop down to the scalp method and trade in that direction. Even if I have long term position trades or swing trades I always look to trade the direction of the longer term trend on my scalps, but that's not set in concrete either as a 10 pip scalp has no relevance to the longer term trend. The reason I like to scalp in the direction of the long term trend is you never know how far a scalp could go when scalping in direction of the trend.

Last night my scalp trade on EU and UC was only targeting 10 pips but ended up well over 200 pips. Some days I will do 20 scalps at about 76% success, 10 pip stop and 10 pip target, using Tradestation 70 tick chart which is similar to a MT4 30 second chart.

My Mt4 scalp method uses 1hr, 15 min, and 5 min for entry and targets.

Happy Trading and enjoy your rest.

Thanx,

My style of trading has changed and improved quite a bit since I started trading again (around the time I made the first posts on your thread). I enjoy reading and posting here and it is nice that my input is appreciated. I'm off now but I'll be back.

[Tmymaimee]

Started shorting the $CDN back in May 2013 at .98 cents. Normally held 250 contracts at a time. Started to become nervous at the .93 cents mark and backed off. Had I held on for 2 more weeks, I would have been up another 30 million baht. Oh well, could have gone the other way so no regrets…I did okay.

Now investing into US stocks, mostly pharmaceutical, transportation (air / rail), banking, consumer discretionary and industrials. Employment improving, inflation increasing, and things improving in Europe slowly.

I would stay away from SET until the outlook clears. I think consumer spending is going to weaken and more credit defaults coming up.

[Paulo1]

Started shorting the $CDN back in May 2013 at .98 cents. Normally held 250 contracts at a time. Started to become nervous at the .93 cents mark and backed off. Had I held on for 2 more weeks, I would have been up another 30 million baht. Oh well, could have gone the other way so no regrets…I did okay.

Now investing into US stocks, mostly pharmaceutical, transportation (air / rail), banking, consumer discretionary and industrials. Employment improving, inflation increasing, and things improving in Europe slowly.

I would stay away from SET until the outlook clears. I think consumer spending is going to weaken and more credit defaults coming up.

That's massive. Biggest trade posted on this thread . Well done.

[Tmymaimee]

Thanks… I was lucky as far smarter guys than me have gotten wiped out when it reverses douse and then accelerates when the shorts cover. I wouldn't go near it now, even for a few points.

I remember on 1 trade I went to sleep and 6 hours later was down 7 million. Almost made me sick. I think I'll stick to high grade U.S. stocks for now but of course after 2 days, I'm down 4% already…..

[Paulo1]

Thanks… I was lucky as far smarter guys than me have gotten wiped out when it reverses douse and then accelerates when the shorts cover. I wouldn't go near it now, even for a few points.

I remember on 1 trade I went to sleep and 6 hours later was down 7 million. Almost made me sick. I think I'll stick to high grade U.S. stocks for now but of course after 2 days, I'm down 4% already…..

LOL. 1.2 mill per hour, You must have been extremely tired.

My worst trade was 127K loss in 2 days.. Small compared to your size, But relevant to account size and risk parameters. I felt sick also.

I began trading 1992 with 9 invested it in Striker Mining on the ASX turned that into 27K in two months. Then traded that up to 240k in the next two yrs, doing everything myself , no advice from brokers etc. Then one day the broker I was going through phoned me. (scary) (Peter Wilson, now deputy premiere of Tasmania Australia) , advised me to buy Equatorial Mining , Its a sure thing Mate, I know something I can not talk about. So on his advice which was the only advice I had ever taken from him LOST the 127K in to days. Moral of the story, Don't Trust Brokers and believe in yourself.

[Paulo1]

AUDUSD Weekly.

Remains bearish with concerns over RBA's preference for a weaker currency and US Fed Reserve QE tapering.

2013 has created an oversold environment. This means two things.

1. Consolidate and trade sideways

2. Retrace higher for a correction before continuing its down trend..

Trade Idea's.

Go long on a weekly close above .9040 Stop .8800 Target below 9300 key resistance at .9275.

If this correction happens then on rejection of .9300 go short with a stop 9375 target .8600. A close below .8800 on the weekly chart possible target 8600. If this happens go short on the weekly close below 8850 stop 8950 target 8600. This trade is designed for longer term market views. For more short term trades look at daily and 4hr charts for trend directions.

EURUSD

.

A weekly close below 1.3425 would most likely end the current uptrend and target 1.3100/300.

Key resistance for 2014 remains at 1.3800, a level the pair failed to overcome 6 times in 2013.

GBPUSD -

The final 2 weeks of 2013 saw GBP/USD sharply rejected around 1.6600 psychological level. 1.6600 was a key turning point for GBP/USD in 2011, as such its importance cannot be ignored.

USDJPY.

Weekly chart is currently forming Bearish Divergence, as price continues to print a higher high but oscillators are not.

The weekly chart shows the MACD, Stochastics and Relative strength Index (RSI) exhibiting a lower high, a rare occurrence for all three to do the same thing in a weekly chart.

Bearish USD/JPY, anticipating a retest of 100.00 psychological level. A weekly close below this opens up the way to the next key support at 0.90.00.

With key resistance at 105.43 (2013 high), 106.50 (127.2% Fib Extension of the last rally) and support at key 100.00 level; the pair is trading within a zone that is full of unknown possibilities.

[MrWorldwide]

Just curious - for those of you with a live forex account, are you happy with the speed of execution when you trade ? It seems 'instant' on my demo account, but I've spent long enough in IT to know that there are bound to be bottlenecks in something involving high transaction volumes.

[edwinchester]

I live in a village with no landline connection. Traded forex using an Edge and lately 3g account. Maybe lucky but never had a problem in over a year.

[MrWorldwide]

Thanks edwin.

[Paulo1]

Here's a good article on trader statistics.

http://theessentialsoftrading.com/Blog/index.php/2013/01/08/starting-to-detail-forex-profitability-data/

[Rimbuman]

Here's a good article on trader statistics.

http://theessentialsoftrading.com/Blog/index.php/2013/01/08/starting-to-detail-forex-profitability-data/

Interesting article, gives some better insights than the regular assumptions you read all over the web. Remains a zero sum game minus cost, what you gain someone else loses.

EUR/USD

Increased buying pressure make outbreak on the upside of the descending channel most likely. Notice new horizontal support HS1 and strong rejection pinbar from the support line and resent priceaction made the channel lines perfectly parallel by lifting the resistance from R1 to R2.

[puukao]

The problem with trading is words like oversold, overbought, and other TA vernacular. Enron from 80 to 50 is "oversold", then goes to zero. Stocks "overbought" at 9,000, then goes to 16,000. then traders think they see a pattern, or see one in hindsight (not hard to do), and think it happen the same way. lose money after trying such an easy pattern, then move on. however, the biggest reason for failure is overtrading. commissions are so important, plus other fees, that you have to be 80% right to breakeven. and that is if your losers don't crush you. this is why wall street spends all its time getting trade costs lower, latency less, and less time predicting.

and i have yet to find an "educator" that is rich. they all say they are rich, but spend more time trying to get your money than simply trading.

the only trades i have seen work over and over are stocks ONLY, long-term investments (1 year+), and at least a few thousand shares. if you have lots of money in the market, then spend all your time trying to get risk lower.

[MrWorldwide]

Based on the last few posts, it looks like its back to Yaowarat Road to ride out the current slump in gold prices

[MrWorldwide]

Note to self - take your own advice and dont hold onto a losing trade simply because the base currency is your own. I didnt want to get out when the damage was 60 pips, and you can imagine my dismay being stopped out at 88 pips. Of course, the instant I go short on the Aussie, the downward trend will reverse

[Paulo1]

Note to self - take your own advice and dont hold onto a losing trade simply because the base currency is your own. I didnt want to get out when the damage was 60 pips, and you can imagine my dismay being stopped out at 88 pips. Of course, the instant I go short on the Aussie, the downward trend will reverse

Every large loss was at some point a small loss.

Went short Kiwi this morning .Last night was short UJ. Trades were entered using market flow analysis. Will post an example later when I am not so busy.

Nice charts Rimbuman. My long term view is bearish EURUSD. Thats from the monthly chart which is light yrs away away from intraday set-ups. A move higher would suit me.

Cheers

Edited January 30, 2014 by Paulo1

[Rimbuman]

Note to self - take your own advice and dont hold onto a losing trade simply because the base currency is your own. I didnt want to get out when the damage was 60 pips, and you can imagine my dismay being stopped out at 88 pips. Of course, the instant I go short on the Aussie, the downward trend will reverse

Every large loss was at some point a small loss.

Went short Kiwi this morning .Last night was short UJ. Trades were entered using market flow analysis. Will post an example later when I am not so busy.

Nice charts Rimbuman. My long term view is bearish EURUSD. Thats from the monthly chart which is light yrs away away from intraday set-ups. A move higher would suit me.

Cheers

EURUSD

It's a little early for me to be bearish EURUSD but that moment could be closer than I think, for now there still is an up trend. Midterm on the daily there is the break from a bullish wedge in an up channel with a higher high, that by it self is a rather powerful signal with higher probability but on the other end there is also a bearish argument that the higher high from that breakout is a lower high vs the 2008 resistance line test spike.

If price get to test the 2008 resistance again (or maby not) fails and violates the support aria's I'll be with the bearclub. The chance this will happen I think will be better than 50%, so in my way I agree with your view but like to see a little conformation first because I rather participate than anticipate.

Edited January 30, 2014 by Rimbuman

[Paulo1]

Note to self - take your own advice and dont hold onto a losing trade simply because the base currency is your own. I didnt want to get out when the damage was 60 pips, and you can imagine my dismay being stopped out at 88 pips. Of course, the instant I go short on the Aussie, the downward trend will reverse

Every large loss was at some point a small loss.

Went short Kiwi this morning .Last night was short UJ. Trades were entered using market flow analysis. Will post an example later when I am not so busy.

Nice charts Rimbuman. My long term view is bearish EURUSD. Thats from the monthly chart which is light yrs away away from intraday set-ups. A move higher would suit me.

Cheers

EURUSD

It's a little early for me to be bearish EURUSD but that moment could be closer than I think, for now there still is an up trend. Midterm on the daily there is the break from a bullish wedge in an up channel with a higher high, that by it self is a rather powerful signal with higher probability but on the other end there is also a bearish argument that the higher high from that breakout is a lower high vs the 2008 resistance line test spike.

If price get to test the 2008 resistance again (or maby not) fails and violates the support aria's I'll be with the bearclub. The chance this will happen I think will be better than 50%, so in my way I agree with your view but like to see a little conformation first because I rather participate than anticipate.

The monthly close is lining up with my analysis posted 7 days ago.. Additional to that the historical price movement of the EUR is to enter bearish cycles during January which is happening at present.

Upper trend line acts as resistance. Don't think this be broken. Weekly and Daily lower TL has now had 3 weekly closes below .( Broken). Weekly and Daily support 1.3517. Close below this open 1.3393 (1.3400) and targeting monthly TL. Lower highs, Hammer and engulfing at resistance..

My entry target ton sell limit is 1.3740. Annoyed I missed the entry around 1.3800. Move was a low liquidity push higher on the 27th dec 13.

[Rimbuman]

Note to self - take your own advice and dont hold onto a losing trade simply because the base currency is your own. I didnt want to get out when the damage was 60 pips, and you can imagine my dismay being stopped out at 88 pips. Of course, the instant I go short on the Aussie, the downward trend will reverse

Every large loss was at some point a small loss.

Went short Kiwi this morning .Last night was short UJ. Trades were entered using market flow analysis. Will post an example later when I am not so busy.

Nice charts Rimbuman. My long term view is bearish EURUSD. Thats from the monthly chart which is light yrs away away from intraday set-ups. A move higher would suit me.

Cheers

EURUSD

It's a little early for me to be bearish EURUSD but that moment could be closer than I think, for now there still is an up trend. Midterm on the daily there is the break from a bullish wedge in an up channel with a higher high, that by it self is a rather powerful signal with higher probability but on the other end there is also a bearish argument that the higher high from that breakout is a lower high vs the 2008 resistance line test spike.

If price get to test the 2008 resistance again (or maby not) fails and violates the support aria's I'll be with the bearclub. The chance this will happen I think will be better than 50%, so in my way I agree with your view but like to see a little conformation first because I rather participate than anticipate.

The monthly close is lining up with my analysis posted 7 days ago.. Additional to that the historical price movement of the EUR is to enter bearish cycles during January which is happening at present.

Upper trend line acts as resistance. Don't think this be broken. Weekly and Daily lower TL has now had 3 weekly closes below .( Broken). Weekly and Daily support 1.3517. Close below this open 1.3393 (1.3400) and targeting monthly TL. Lower highs, Hammer and engulfing at resistance..

My entry target ton sell limit is 1.3740. Annoyed I missed the entry around 1.3800. Move was a low liquidity push higher on the 27th dec 13.

Excellent reasoning, it sure fits the picture especially after yesterday's session. The pair got one on the chin and the overall picture is weakening, hopefully a last push up will give you a better entry on a short.

Overall a good day yesterday, only got out to early on the first short because of my bias ,made 4 trades, 3 shorts and a long which I thought to be a reversal.

Sell signs all over the place, so far so good and learning every day

Regards,

Rimbuman

Edited January 31, 2014 by Rimbuman

[Paulo1]

AUDUSD Weekly.

Remains bearish with concerns over RBA's preference for a weaker currency and US Fed Reserve QE tapering.

2013 has created an oversold environment. This means two things.

1. Consolidate and trade sideways

2. Retrace higher for a correction before continuing its down trend..

Trade Idea's.

Go long on a weekly close above .9040 Stop .8800 Target below 9300 key resistance at .9275.

If this correction happens then on rejection of .9300 go short with a stop 9375 target .8600. A close below .8800 on the weekly chart possible target 8600. If this happens go short on the weekly close below 8850 stop 8950 target 8600. This trade is designed for longer term market views. For more short term trades look at daily and 4hr charts for trend directions.

EURUSD

.

A weekly close below 1.3425 would most likely end the current uptrend and target 1.3100/300.

Key resistance for 2014 remains at 1.3800, a level the pair failed to overcome 6 times in 2013.

GBPUSD -

The final 2 weeks of 2013 saw GBP/USD sharply rejected around 1.6600 psychological level. 1.6600 was a key turning point for GBP/USD in 2011, as such its importance cannot be ignored.

USDJPY.

Weekly chart is currently forming Bearish Divergence, as price continues to print a higher high but oscillators are not.

The weekly chart shows the MACD, Stochastics and Relative strength Index (RSI) exhibiting a lower high, a rare occurrence for all three to do the same thing in a weekly chart.

Bearish USD/JPY, anticipating a retest of 100.00 psychological level. A weekly close below this opens up the way to the next key support at 0.90.00.

With key resistance at 105.43 (2013 high), 106.50 (127.2% Fib Extension of the last rally) and support at key 100.00 level; the pair is trading within a zone that is full of unknown possibilities.

[Paulo1]

Updates

AUDUSD , Daily has closed below 8800, Weekly close below 8800 will fit trade criteria to go short. Scalp entered at 8810 , 60% profit taken at 8777 currently trading at 8757 , 4hr chart displays nice resistance at 8824

EURUSD. Currently holding short entry and watching 1.3425 zone. as above analysis.

GBPUSD -

The final 2 weeks of 2013 saw GBP/USD sharply rejected around 1.6600 psychological level. 1.6600 was a key turning point for GBP/USD in 2011, as such its importance cannot be ignored. Entry short made yesterday at 1.7416

Bearish USD/JPY, anticipating a retest of 100.00 psychological level. A weekly close below this opens up the way to the next key support at 0.90.00.

With key resistance at 105.43 (2013 high), 106.50 (127.2% Fib Extension of the last rally) and support at key 100.00 level; the pair is trading within a zone that is full of unknown possibilities.

Entered another short 102.29 yesterday and holding 1 from 103.00

All above entries are from analysis posted 27th jan. Target 100.00 on the daily and 99.00 on weekly.

NZDUSD currently form an inside daily candle. Watching 8080 zone.

Edited February 3, 2014 by Paulo1

[Paulo1]

Copper. Bottom maybe in.

Suggested Trading Strategy

BUY 1 July Copper $3.05 put for 320 and then BUY 1 July Copper

futures at the market. Once fi lled on the long put and the long futures

position, look to sell 1 July Copper $3.50 call for 450 or better. Look

for an initial objective on the short call of 330. Use an initial risk

combination to a close below the $3.06 level in the futures. The long

put and short call should cushion the position against the brunt of

that adversity. Eventual target objective on the long futures is $3.53, but

longer term targeting of $3.70 can’t be ruled out for later this year.

EURUSD, looking to sell again at 1.3750 to 1.3800. Read prior analysis in thread.

USDCAD bullish flag breaks higher. Look to buy on retrace to 1.1000 1.1040 , stop below 1.0900 patience is needed

USDTRY buy on a break of 2.215

US30 (Dow) Looking to sell on a daily close below 16000. Possible 1000 point move to downside , will impact all indices. Sell .

Edited February 20, 2014 by Paulo1

[Paulo1]

AUDUSD Weekly.

Remains bearish with concerns over RBA's preference for a weaker currency and US Fed Reserve QE tapering.

2013 has created an oversold environment. This means two things.

1. Consolidate and trade sideways

2. Retrace higher for a correction before continuing its down trend..

Trade Idea's.

Go long on a weekly close above .9040 Stop .8800 Target below 9300 key resistance at .9275.

If this correction happens then on rejection of .9300 go short with a stop 9375 target .8600. A close below .8800 on the weekly chart possible target 8600. If this happens go short on the weekly close below 8850 stop 8950 target 8600. This trade is designed for longer term market views. For more short term trades look at daily and 4hr charts for trend directions.

EURUSD

.

A weekly close below 1.3425 would most likely end the current uptrend and target 1.3100/300.

Key resistance for 2014 remains at 1.3800, a level the pair failed to overcome 6 times in 2013.

GBPUSD -

The final 2 weeks of 2013 saw GBP/USD sharply rejected around 1.6600 psychological level. 1.6600 was a key turning point for GBP/USD in 2011, as such its importance cannot be ignored.

USDJPY.

Weekly chart is currently forming Bearish Divergence, as price continues to print a higher high but oscillators are not.

The weekly chart shows the MACD, Stochastics and Relative strength Index (RSI) exhibiting a lower high, a rare occurrence for all three to do the same thing in a weekly chart.

Bearish USD/JPY, anticipating a retest of 100.00 psychological level. A weekly close below this opens up the way to the next key support at 0.90.00.

With key resistance at 105.43 (2013 high), 106.50 (127.2% Fib Extension of the last rally) and support at key 100.00 level; the pair is trading within a zone that is full of unknown possibilities.

Trades are respecting above analysis.

[Rimbuman]

AUDUSD Weekly.

Remains bearish with concerns over RBA's preference for a weaker currency and US Fed Reserve QE tapering.

2013 has created an oversold environment. This means two things.

1. Consolidate and trade sideways

2. Retrace higher for a correction before continuing its down trend..

Trade Idea's.

Go long on a weekly close above .9040 Stop .8800 Target below 9300 key resistance at .9275.

If this correction happens then on rejection of .9300 go short with a stop 9375 target .8600. A close below .8800 on the weekly chart possible target 8600. If this happens go short on the weekly close below 8850 stop 8950 target 8600. This trade is designed for longer term market views. For more short term trades look at daily and 4hr charts for trend directions.

EURUSD

.

A weekly close below 1.3425 would most likely end the current uptrend and target 1.3100/300.

Key resistance for 2014 remains at 1.3800, a level the pair failed to overcome 6 times in 2013.

GBPUSD -

The final 2 weeks of 2013 saw GBP/USD sharply rejected around 1.6600 psychological level. 1.6600 was a key turning point for GBP/USD in 2011, as such its importance cannot be ignored.

USDJPY.

Weekly chart is currently forming Bearish Divergence, as price continues to print a higher high but oscillators are not.

The weekly chart shows the MACD, Stochastics and Relative strength Index (RSI) exhibiting a lower high, a rare occurrence for all three to do the same thing in a weekly chart.

Bearish USD/JPY, anticipating a retest of 100.00 psychological level. A weekly close below this opens up the way to the next key support at 0.90.00.

With key resistance at 105.43 (2013 high), 106.50 (127.2% Fib Extension of the last rally) and support at key 100.00 level; the pair is trading within a zone that is full of unknown possibilities.

Trades are respecting above analysis.

Way to go mate, I've been away for a while and back in the game now.

Good trading with shorts on EUR/USD yesterday, still looking for more trades on the short side.

I'm still not to much in trading other pairs yet, but I'll come around on this, I don't want to trade bobwire and a better range of opportunities, although I'm still doing quite well with just trading one pair.

[Paulo1]

The Masters without Tiger, the Bat without mojo, and new highs without volume. With the S&Ps tapping out at a new record, I am going to sit tight and wait out those nasty bulls. They are just like an unwanted guest who won't leave.

Trade I am alerted to is a sell on the EURAUD. Sell stop 1.4770 area ot look to sell higher around 1.4950.

[jassielarry]

Hi,

I am to trading can you explain How difficult is it to trade profitably and consistently over the long term?

[Paulo1]

Hi,

I am to trading can you explain How difficult is it to trade profitably and consistently over the long term?

If you have a good plan and trade your plan, have emotional management and a system with an edge you can be consistent. This is not as easy as it sounds. It takes time and discipline. Be wary of people selling systems and methods over the net. 99% can not trade.