What a great to trade forex! Everything pointed down for the EUR/USD... Fibs, Pivots, and EMAs. All the stars were aligned for a short trade. Our target was the 138.2% Fibonacci Extension. Guess what? That was also the M1 Pivot Point. Could you have a more perfect trade? Questions is: did you plan your trade and trade your plan? Live FOREX Training | EVERYDAY! www.fxbootcamp.com
The US FOREX Trading Session started flat for the USD, so we focused on the Canadian Dollar today. After a break of resistance, price topped out at the R1 Pivot Point for a very technical trade. Oil is at a 17 monthly low and with CAD having an 80% correlation to the price of oil, the Loonie was expected to fall... and fall it did. Live FOREX Training | Everyday! www.fxbootcamp.com
The market didn't react to PPI or Trade Balance news releases. We watched it sit in a 10 pip range for over two hours without a conservative/repeatable trade opportunity. Then BAMB! Reversals and breakouts with full currency correlation across the board. It seems that the market moved in anticipation to the G7 meeting this weekend. In anycase, another great trading day. Live FOREX Training | EVERDAY! www.fxbootcamp.com
The day started with a great USD trade and ended with a great CAD trade. A good day indeed. The market must have read the textbook! We waited and waited for confirmed currency correlation between the majors with a break of the 200 EMA across the board. Pivots and Fibs helped find the target. The CAD trade, based on the oil report, was a great 38.2% retracement to 161.8% extension for the CAD/JPY. The USD/CAD hit the S1 and stopped at the same time we were topping out on the other pair. Beautiful.
The forex uptrend was still in place, but showing signs of weakness. Retracement is becoming more and more possible. MACD Divergence, rejection at a Reversal Pivot Point, a 61.8% Retracement and a Triangle break eventually all pointed down. Target was the 138.2% Fibonacci Extension which over lapped with a Support Pivot Point.
Nice forex uptrend holding... but showing forex divergence. This indicates that as price continues up, weakness increases. Maybe not today, but a forex pull-back is becoming more likely as time goes by; perhaps at the 1.3200 double top? Pay close attention to the forex Pivots and forex Fibs. Notice how well they work as leading indicators. Live FOREX Training | Everyday! www.fxbootcamp.com
This is a video overview of how to improve the timing of your trades using the oscillators MACD and Stochastics. The goal of the forex trading strategy is to align market and price action for the best chance of success when you pull the trigger. Video produced by FX Bootcamp, LLC (www.fxbootcamp.com
This is a video overview of how to improve the timing of your trades using moving averages. The goal of the forex trading strategy is to align market and price action for the best chance of success when you pull the trigger. Video produced by FX Bootcamp, LLC (www.fxbootcamp.com
There was a big FOMC interest rate decision last night that really drove the market up. Today was a "cool down" period. Price returned to a reasonable level... a 50% retracement and the 200 EMA. Did the prevailing trend continue? LIVE FOREX TRAINING | EVERYDAY! www.fxbootcamp.com
45 minute walk-thru of FX Bootcamp's new book which features fundamental, technical and psychological analysis. It also helps you treat your trading as a business with business planning, budgeting and managing risk.