I’ll cut the chase.
These are the markets I’m looking at:
Right now, it’s flirting near 1.3150. If it breaks out, you could see a possible 1500 pips move towards the highs. Find out how I’m looking to trade this setup below.
Good news for my fellow Singaporeans. The SGD is showing signs of strength against the USD. And you’ve got a pattern within a pattern, which makes the signal even stronger.
A simple pullback setup. But most traders mess up because they’re entering at the worst possible price. I’ll explain why…
If you don’t want to miss any of this, then go watch this week’s video below:
I hope you’ve enjoyed this week’s market analysis.
If you’ve got any questions, don’t hesitate to let me know in the comments section below. Cheers!
Do you want to learn a new trading strategy that allows you to profit in bull and bear markets?
In the Ultimate Guide to Trend Following, I will teach you this powerful trading strategy step by step, along with charts and examples.
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Many thanks for your analyses. I think the NZD/CAD retracement is already there now on the hourly chart, though not yet for the 4-hourly or daily.
Thanks for sharing 🙂
Rayner nzdcad has been ranging between .958 and .867 since Jan 2014 as seen on weekly chart. Since it has already touched the high how can I read it?
Sorry but what do you mean by read it?
Excellent video, great analysis, thanks for your valued input bro.
You’re welcome, Syed!
I will like to asking you you never use oscillator in your strategy s ?
No I don’t use any oscillator.
I just started following your blog not too long ago.
I’ve been watching your videos and I see that you are using some really good charts. Can you please recommend the website you are using for charting? I would like the one you are using with the charts, indicators like the SMAs, with different time frames & volume.
I’m currently using tradingview but it’s rather inadequate.
Hi Song Ling,
I’m using MT4 for charting. I believe tradingview has all the features that you mentioned earlier.
Thanks for the analysis. I always look forward to the next one.
The most critical point that most traders should understand is the part that starts at 8:10 on the video. While, at times, price will take off on a run and never look back, it is more common for a trending market to advance and decline in a “wavelike” process. This is important to know because it gives the trader confidence to wait for price to swing back to the optimal area for entry where the risk/reward ratio is favorable. Rayner refers to this as the “value zone.” When you hear an experienced trader refer to patience and discipline it sometimes refers to exactly this – to patiently wait for price to make a normal fluctuation back to the zone where it should complete its retracement before continuing on in the original direction. You never can be sure that this will occur, but the probability is that it will but when it does that’s when you strike. Most traders do the opposite by chasing the market as described in the video, thus falling victim to their own fears and doubts. Greed and the fear of “missing out” on the big move contribute to the downfall of many traders. The money they consistently lose goes directly and consistently into the accounts of the more advanced traders. The bottom line is to get a system you know has a proven edge in the market – a system that you can understand and apply properly – and learn to make yourself apply the discipline to follow it.
Thanks again to Rayner for helping traders to develop into successful traders.
Thanks for sharing and summarizing it perfectly!