April 2011 Monthly Archive

Patience with the EUR/USD: Intraday Double Top to Swing

On April 26 I wrote about the patience I was exercising in waiting for exhaustion to possible drive the daily EUR/USD to my sweet spot for a swing buy entry. But what do you do when the market simply won’t come back to you? It can be maddening and that’s where common trading mistakes begin to manifest. Read more

Why I’d like to see EUR/USD exhaustion between 1.4720 and 1.4700

With solid green GRaB candles on the daily and a “twelve to two o’clock” 34EMA Wave, there is bullish sentiment, bullish momentum, and – you guessed it! – a bullish trend on the EUR/USD. Read more

Momentum Trading 101: AUD/USD Breaks Through Ascending Triangle

The “momentum” set up is one that capitalizes on a more neutral market opinion and therefore it’s the MOMENTUM that we’re waiting on. It reveals itself by moving higher through resistance or lower through support – but the key is to wait for these moves from a non-trending market phase. Read more

USD/CAD Channel Up Sets the Scene for a Intraday Reversal

The loonie has been losing ground against the U.S. Dollar as the 0.9522 low seems to have stirred awake USD/CAD bulls. Crude oil has stagnated below 110/bbl and this could be fueling some of the loonie pessimism but the case for bullish greenback cannot be made here and that’s why I see a push lower…resuming the overall downtrend. Read more

USD/CHF transitions but still has downtrend line resistance to contend with

The downtrend and bearish Directional Bias on the daily USD/CHF has completed a transition into a sideways, consolidation phase…but bears don’t lose faith and bulls, don’t get too excited; There is still downtrend line resistance and 0.9300 to contend with. Read more

What type of trader are you? The Anatomy of a Forex Trader.

“If foreign exchange is the “wild west” of trading, then forex traders are the cowboys. Forex traders are typically comfortable with a high degree of risk, lots of sleepless nights, caffeine, and constantly-blinking computer screens – but what other substantive qualities do they have in common?” Read more

Seven Keys, Triage and other ideas worth talking about…

The idea of seven keys that I consider as well as a “triage” process are part of my every day trading thought process.The following video explains how and why I use these keys and how they can help you make more informed trading decision too. Read more

AUD/USD Follows Through After Trendline Breakout

…chart patterns develop and even trigger entries that are not necessarily appropriate/valid for the market trend for that the chart. Read more