Open trading account 
Silver bearish trend may have ended once we broke the trendline that connects the 2011 highs and all the intermediate highs of this bearish trend. This bearish cycle has lasted almost 4 years and based on my experience any new major trend starts with a trendline breakout of previous trend. We already broke to the upside of the trendline that connects the highs of this bearish trend at beginning of the year(see Figure 1), and not only that but we had a successful retest of th…
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GBPNZD +170 Pips Profit
So far my best trade was going long GBP/NZD and even though the trend was well mature and one may think it was oversold I still saw the possibility of another marginal new high above Monday's high near the 2.1600 level. The momentum was still strong and the pattern was there for the upward trend to continue so I give it a shoot. My entry was based on the minor support level from 1h intraday chart.
Before this trade I was in a 30% DD but with this trade I've managed to bring my account back in pr…
Before this trade I was in a 30% DD but with this trade I've managed to bring my account back in pr…
USD/JPY Neverending Consolidation
USD/JPY has been unable to sustain any gains during this year and we have moved in a big range for the most part of the year. Even though we managed to make a marginal new high above 122.00 the momentum slowed down and we're back inside the range. Current range extends from the 122.00 resistance level all the way down to 116.00 level (see Figure 1) where we have a strong support and where I'm expecting price to hold and revers to resume to bigger bullish trend we're in. We're in a …
Gambling Everything On One Card
Yesterday was my only chance to produce some goods trades and enable me to get closer to the top 10 and I had to force myself and gamble my entire account balance on one trade: long the Dollar. Since I couldn't have the luxury of time, I have to guess and put my bets in advance of the FOMC statement.
In hindsight is quite simple to judge why the market has reacted the way it did, however we as trader had to come with the proper plan before the market movement. Even though Fed dropped the word …
In hindsight is quite simple to judge why the market has reacted the way it did, however we as trader had to come with the proper plan before the market movement. Even though Fed dropped the word …
NZD/CAD Range Trade Boxes
NZD/CAD has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can see how this price action looks like. Usually when we enter in the territory of a new range boxes the new boxes that will form in the right side of the chart will use the middle of the range box from the left as the top and as the bottom will use the middle of the box from beneath the price action where most likely there…
NZD/CAD Range Trade Boxes
NZD/CAD has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can see how this price action looks like. Usually when we enter in the territory of a new range boxes the new boxes that will form in the right side of the chart will use the middle of the range box from the left as the top and as the bottom will use the middle of the box from beneath the price action where most likely there…
2015 Global FX Outlook
If the main macro theme of 2014 was the broad based dollar strength, the general consensus for 2015 is for further appreciation of the dollar. The implication of a strong dollar, and with the pick up in volatility, have also set in motion other trends, like the bearish commodity trends(see Metals and Oil), the carry trade has died (see AUD/USD and NZD/USD) and last but not least EUR/USD has finally started trading to the downside.
The broad based dollar strength can have a big impact on US econ…
USD/CHF 3 Years of Trading Range.1000 Pips Profit
I've posted in my blog this analysis on USD/CHF that I'm going to reproduce here more than 5 months ago, you can find the original post here: USD/CHF 3 Years of Trading Range.
"Since over 3 years USD/CHF has been trading in a wide range like many other CHF pairs. We have established between 0.9970 resistance level and 0.8600 support level an consolidation zone which based on Elliott Wave we can count only 4 waves which suggest that we still have to make another leg to the upside to comple…
"Since over 3 years USD/CHF has been trading in a wide range like many other CHF pairs. We have established between 0.9970 resistance level and 0.8600 support level an consolidation zone which based on Elliott Wave we can count only 4 waves which suggest that we still have to make another leg to the upside to comple…
NZD/JPY Sustained Bullish Trend
Since mid 2012 NZD/JPY has started to move in an healthy and sustained bullish trend(see Figure 1) which ultimately will have to retest the 2007 all time high. Usually this type of moves last anywhere between 3-5 years so that's the reason why we can expect current momentum and trend to continue as long as there is no major event to change the course of this trend. If we look on the weekly chart we can see that there is no resistance to stop the price from further advancing so it's wise to assum…
US Dollar Index Target Hit
I just can't believe I'm already out from the Trader Contest, but unfortunately I blow up my chances for this month to catch any top rank. However I'm glad to see the return in volatility, when you have day with +200 pips in EUR/USD you just can't ask for more.
During this past year I really anticipated a lot of big swing movements, and one of those great call is definitely the US dollar bullish trend.
On my last update on the US Dollar trend I've give you my first target on DXY to be 83.…
During this past year I really anticipated a lot of big swing movements, and one of those great call is definitely the US dollar bullish trend.
On my last update on the US Dollar trend I've give you my first target on DXY to be 83.…