Monday 3 August 2009
FOREX Trading Review Video 03 AUG 09 EUR/USD + 149 pips
EUR/USD long trade based on the 4 hour closing showing strong upward momentum:
-4H bullish engulfing formation which closed above previous resistance.
- Price has found strong support off the box range which it had been in for a number of days.
- 4H close placed a higher high and a higher lower indicating more upward momentum.
- 1D has shown aggressive belt holding candle which closed about the previous long box range.
Tuesday 28 July 2009
FOREX Trading Review Video 23 JUL 09 GBP/USD 4H Bullish Japanise Candle Pattern
GBP/USD long trade based on the 4 hour closing showing upward momentum:
-4H bullish engulfing formation which closed above previous resistance.
- Price has found strong support off the box range which it had been in for a number of days.
- 4H close placed a higher high and a higher lower indicating more upward momentum.
- 1D has shown aggressive belt holding candle which closed about the previous long box range.
-4H bullish engulfing formation which closed above previous resistance.
- Price has found strong support off the box range which it had been in for a number of days.
- 4H close placed a higher high and a higher lower indicating more upward momentum.
- 1D has shown aggressive belt holding candle which closed about the previous long box range.
Tuesday 7 July 2009
FOREX Trading Review Video 06 JUL 09 GBP/USD 4H Bearish Belt Holding Engulfing
GBP/USD short trade based on the 4 hour closing of strong belt holding engulfing candle:
- Very Strong 4H close below previous support at the 1.6220 zone.
- Large bearish engulfing candle which shows strong momtenum to the downside.
- 4H arrgessive close outside of the large box range / consolidation period we have been in for just over a month.
- 1D placed a bearish engulfing pattern off the new highs.
- 1H showing a lower high and lower low, with good angle and seperation of the 8 / 21 EMA's which indicates good momentum & rhythm.
- Very Strong 4H close below previous support at the 1.6220 zone.
- Large bearish engulfing candle which shows strong momtenum to the downside.
- 4H arrgessive close outside of the large box range / consolidation period we have been in for just over a month.
- 1D placed a bearish engulfing pattern off the new highs.
- 1H showing a lower high and lower low, with good angle and seperation of the 8 / 21 EMA's which indicates good momentum & rhythm.
Monday 22 June 2009
FOREX Trading Review Video 15 JUN 09 GBP/USD 4H Shooting Star
GBP/USD short trade based on the 4 hour closing candle:
- 4H close below previous support at the 1.6290 zone.
- 4H shooting star formation (almost a mini evening star) showing lack of momentum.
- 1D has placed a lower high and double top, together with the 8EMA flatting off.
- 1H showing a lower high and lower low, which indicates lack of buying momentum & rhythm.
- 4H close below previous support at the 1.6290 zone.
- 4H shooting star formation (almost a mini evening star) showing lack of momentum.
- 1D has placed a lower high and double top, together with the 8EMA flatting off.
- 1H showing a lower high and lower low, which indicates lack of buying momentum & rhythm.
FOREX Trading Review Video 10 JUN 09 EUR/USD Bearish Engulfing Shooting Star
EUR/USD I see the short term trend as down, therefore class this as a Trend Continuation trade based on:
- Bearish englufing shotting star formation close on the 4H, failing to close above the 50% retracement line (from daily timeframe - shown in yellow on chart image).
- Price action failed to close above the 1.4117 level together with candles showing a lack of upward momentum.
- Price has now placed in a lower high on the 4H something which it has not done in some time.
- 8EMA failed to take control on the 1D, therefore shows that the strong bearish candle on (05/06/09) is still in control and therefore we can expect a bigger retrace than 23.6 from the larger upmove. (will explain this on the video)
- Bearish englufing shotting star formation close on the 4H, failing to close above the 50% retracement line (from daily timeframe - shown in yellow on chart image).
- Price action failed to close above the 1.4117 level together with candles showing a lack of upward momentum.
- Price has now placed in a lower high on the 4H something which it has not done in some time.
- 8EMA failed to take control on the 1D, therefore shows that the strong bearish candle on (05/06/09) is still in control and therefore we can expect a bigger retrace than 23.6 from the larger upmove. (will explain this on the video)
FOREX Trading Review Video 05 JUN 09 EUR/USD (NON FARM PAYROLLS)
Non farm payrolls trade explained (05/06/2009)
FOREX Trading Review Video 01 JUN 09 EUR/USD (Trend Continuation)
EUR/USD trend continuation (Long) trade based on the strong upward momentum:
- Extremely aggressive close of a bullish belt holding candle on the 4H above a lot of previous resistance.
- Price action has found support off 8EMA.
- Price closed above 121.3 extension fib
- 4H candle closed above Box range / consolidation period.
- Momentum and rhythm is extremely strong on the 1D / weekly / 4H close about the 76.4 retracement on 1D and therefore would expect test of the December highs at 1.4700)
- Extremely aggressive close of a bullish belt holding candle on the 4H above a lot of previous resistance.
- Price action has found support off 8EMA.
- Price closed above 121.3 extension fib
- 4H candle closed above Box range / consolidation period.
- Momentum and rhythm is extremely strong on the 1D / weekly / 4H close about the 76.4 retracement on 1D and therefore would expect test of the December highs at 1.4700)
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