Home

Mid Week Trade Reflection

wide pivots aussie

[adrotate banner=”1″]I’ve decided not to place a trade today mostly for the reasons I’ll explain below. If you can look at the pictures for the three currency pairs I’ve chosen and figure out why you are well on your way to being a technical trader. Euro vs Dollar This is a shot of the Aussie […]

Daily Chart USDCAD Long

usdcad long

[adrotate banner=”1″]Today I placed a trade long the US Dollar versus the Canadian Dollar. My analysis was based on the upward momentum of the exponential moving averages and the fact that the price is sitting directly on top of support. If the price continues to rise, I could be getting in at the bottom. I […]

Daily Chart EURUSD

eurusd

[adrotate banner=”1″]Today I entered a short Euro trade. I have the daily pivot points up on the 15 minute chart. As you can see, the price is between the 200 moving average and a 20 period moving average. I believe the pressure of the 200 moving average will be too great coupled with the resistance […]

What is Williams %R?

Williams R

[adrotate banner=”1″] What is the Williams %R? The Williams %R is named for its developer, Larry Williams. It is a momentum indicator that is mathematically equivalent to the fast Stochastic Oscillator. The only difference is that the Williams %R is the inverse of the fast Stochastic Oscillator. It signals overbought and oversold levels based on […]

Daily Chart USDCAD Entry Orders

usdcad trade

[adrotate banner=”1″]Today I placed double entry orders on either side expecting a sideways market. A breakout to either direction will trigger a long or short trade. Double entry orders long and short The markets are still in upheaval after the US credit rating downgrade. The economic calendar shows medium impact news for Canada being released on […]

Daily Chart EURUSD Short

euro short

[adrotate banner=”1″] Enter Short at 1.42 I entered a short trade at about 1.426 today. I am expecting further losses for the Euro. However, I have a tight stop incase the market decides to rally today. If todays daily pivot is broken (the gray line) I expect further losses down to at least midway to […]