Throughout your trading career I’m sure you would have come across trading gurus. Below are the category of these so called ‘gurus’ I encounter regularly and hopefully you can detect when you see one. Hindsight guru These group of trading gurus tend to post regularly. However all of the setups posted are after the fact. […]
Trade of the year?
We can see that Usdchf is trap within a 900 pip range. And we know that in a range, we buy support sell resistance. I will look to get long in the green zone as close to the 0.9000 as possible with stops below the swing low. Take profit will be around the 0.9900 area which […]
How to Draw Support and Resistance Like a Pro!
Support & Resistance are one of the most important aspects of technical analysis but often I see traders doing it wrongly. Imagine you have a chart filled with SR like the one below. Do you know which levels to pay attention to? It’s filled with nothing but lines and it doesn’t seem to make much meaning […]
Chart Talk 18-09-13
Fundamentally, the Euro is weaker than the Aussie. Thus over the longer term, i’m expecting the Euraud to further depreciate. Looking at the chart below I’ve identified a level to go short and possibly riding the move further downwards. We’ve had a nice rally on the Gbp is recent days. Thus i’m looking to get […]
Chart Talk 11-09-13
Here is why i think the Audusd may have bottomed out. However i will look for longs only when the 0.9300 level is cleared. Bat pattern completion on Cadjpy If price forms a bearish pinbar or engulfing pattern, i will look to short this pair. Gbpjpy is in a nice steady uptrend. Any pullbacks to […]
GBP approaching critical level (Chart Talk 04-09-13)
GBP is approaching critical levels and we could look for potential opportunity to short. Usdcad is approaching the key 1.0600 level. This week NFP would likely test that level and give us clues to where it may head in the following weeks. Notice any historical significance on the Eurusd weekly chart? Usdjpy trade was executed […]
Chart Talk 28-08-13
Watching for potential reversal around the 147 – 148 zone for Gbpjpy. Traders can either look to place a buy limit order or wait for a bullish reversal pattern to get long. Right shoulder seems to be completing on Eurusd. A break of the neckline would see price heading towards the 1.3200 level. Traders […]
Chart Talk 21-08-13
Key level to watch out for on GBPUSD. Tonight FOMC minutes could determine if the level holds or break. USDCHF has been in a range since Sept 2011 and right now we have a potential buy opportunity. Buy low sell high, anyone? I didn’t catch this move on the NZDUSD but nonetheless i thought it […]
How to Write a Trading Plan
Many traders enter the trading arena with no clues on how they’re going to navigate it. They simply buy and sell when they feel like it which is a recipe for disaster. A trading plan on the other hand will guide you to making sound decisions while trading. And that is precisely what a trading […]
Understanding Support and Resistance in Trading
How often have you heard Support and Resistance in the world of trading? Those terms are used freely and what exactly is it all about? This article will illustrate to you what support and resistance are and the myth behind them. Support Support can be thought of as a floor. You are able to stand on […]