We had a few opportunities at the GBP/JPY today. I was a bit unfortunate getting stopped on the long from earlier today but that’s the way it goes on this one. After the BOJ announced further easing there was one last stop run that ended up closing me out. I wish I was there to see it [...]
Forex Commentary EUR/USD, GBP/USD, GBP/JPY April 27, 2012
April 27, 2012 by · Leave a Comment
First off I need to make a correction on my April 26th forex commentary. When I mentioned that the BOJ had more or less promised more easing this meeting I was wrong. It wasnt the BOJ it was Bloomberg. When I saw it come across my Talking Forex there was no credit given to who [...]
Is The Forex Market Manipulated?
April 27, 2012 by · 1 Comment
We received an email this week from a new member who asked some basic questions in regards to market manipulation. Essentially he wanted to know if this was a forex trading strategy that would “quit working” or will it stand the test of time. While one can never predict the future we can gain a [...]
Forex Daily EUR/USD, GBP/USD, GBP/JPY Commentary April 26, 2012
April 26, 2012 by · Leave a Comment
Even though the market seemed to be waiting for the Fed yesterday the big surprise was from the UK GDP figures signaling that the UK is back in recession and we had a quick 70 pip drop in the GBP/USD and around 100 on the GBP/JPY. I am always weary of news related moves and [...]
Daily EUR/USD, GBP/USD, GBP/JPY Forex Commentary April 25, 2012
April 25, 2012 by · Leave a Comment
Yesterday we had a nice entry short on the EUR/USD in the live training room but it seems like the Smart Money had a change of heart during the US session and I was stopped out at break even. As I try to find any sort of reasoning behind the move this morning I just [...]
Fx Commentary EUR/USD, GBP/USD April 24, 2012
April 24, 2012 by · Leave a Comment
Looking at the EUR/USD and GBP/USD today at first glance I would think the Euro wants to go down while the GBP wants to go up. Having said that my bias is more to the downside for both pairs. The general weakness in the Euro is more attractive considering all the data yesterday from the [...]
EUR/JPY Confluence of Events Trade April 20, 2012
April 24, 2012 by · Leave a Comment
Hi all Here is the trade I took on Friday April 12. When the markets are not clear the way we take the higher probability trades can be taken using some confluence of events. Meaning the clues the Smart Money is about to turn after a stop run reversal or is manipulating the markets. This [...]
EUR/USD, GBP/USD, EUR/JPY Daily FX Commentary April 23, 2012
April 23, 2012 by · Leave a Comment
The markets seem to be a little disappointed with what happened at the G20 and IMF meetings over the weekend. Of course to a degree I expected the “all is well” jibber jabber as usual but every time this happens the market buys it less and less. We did have the run up in the [...]
Forex EUR/USD, GBP/USD Daily Commentary April 20, 2012
April 20, 2012 by · Leave a Comment
We did have a good trading day yesterday with a nice short on the GBP/USD in the fx training room, booking 45 pips on the drop just before it retraced the whole move. For being the day of the Spanish bond auction I was happy to stay away from the EUR/USD. The auction didn’t go [...]
1H Stop Run Reversal & Topping Formation – EUR/USD April 17th 2012
April 19, 2012 by · Leave a Comment
Live Forex Day Trade – EUR/USD Short Setup There was a nice trade setup we were mentioning in the forex forum & I also took a recording of the setup. Towards the end I cover some important topics in regards to the GBP/USD as well. There is a valuable lesson taught with the GBP/USD today…and [...]
Daily Forex Commentary EUR/USD, GBP/USD, GBP/JPY April 19, 2012
April 19, 2012 by · Leave a Comment
I sure hope some of you caught that move on the GBP/JPY yesterday. At the start of the European market I saw that it was at its highs of the day and London rarely just continues with a move like that from Asia. There were 3 intraday pushes to the upside and had the pin [...]
FX Commentary EUR/USD, GBP/USD, GBP/JPY April 18, 2012
April 18, 2012 by · 2 Comments
The charts of the EUR/USD and GBP/USD are somewhat clearer today with a 1st push up from the lows and then chop all day yesterday on the Euro. At this point I am more inclined to say it will make another push to the upside but keep in mind that we are still in a [...]
NY Forex Reversal Trade – GBP/JPY April 16th 2012
April 17, 2012 by · 1 Comment
Live Day Trade Short – GBP/JPY Before the large stop run to the downside there was an opportunity to take the GBP/JPY as it completed the topping formation. At this point the GBP/JPY had only give what looked like the second push down in the overall weekly cycle. Because of this the safer trade was [...]
GBP/JPY Stop Run Reversal April 16th 2012
April 17, 2012 by · Leave a Comment
Live Forex Trade – GBP/JPY Stop Run Long The GBP/JPY gave us a nice stop run reversal at the end of what looked like the third push to the downside. I decided to close the trade sooner than I was originally anticipating, and managed a nice +40 pip profit. Although this could be the end [...]
Forex Daily Commentary EUR/USD, GBP/USD April 17, 2012
April 17, 2012 by · Leave a Comment
Hi everyone. As I look through my news this morning to find any purpose for the 130+ pip rise in the Euro I could only find one of which I will cover in a minute. I know Sterling mentioned in his Daily Market Review that with the drop during the Asian session there is a [...]
Daily FX Commentary EUR/USD, GBP/USD April 16, 2012
April 16, 2012 by · Leave a Comment
As I look at my charts this morning it is surly looking like I have missed the boat. I actually kind of doubt it but may not get a decent trade today seeing the EUR/USD having already dropped 60+ pips. However I would expect a pullback and manipulation as usual before it continues. I do [...]
Live Forex Training Seminar – April 12th 2012
April 15, 2012 by · 14 Comments
Hey Traders! First I would like to say thank you to everyone for the kind words and we truly hope the information was helpful. I’m sorry for anyone who couldn’t get in to watch the live training….the room was full 15 minutes before the presentation started unfortunately. Because we packed the house I decided to [...]
Forex Trend Trading Setups – Part 3: Timing Your Entries
April 14, 2012 by · 1 Comment
Forex Trend Trading – Timing Is Key As a day trader, entry timing is a definite key to being successful. If you haven’t seen the first 2 training videos in this series I recommend viewing Forex Trend Trading – Is the Trend Your Friend. Once we understand how smart money tends to drive the forex market we [...]
Forex Day Trading Commentary EUR/USD, GBP/USD April 13, 2012
April 13, 2012 by · Leave a Comment
Again leave it to the ECB to hint at buying sovereign bonds again and crush my plan for the day. Then later on a couple of Fed members speaking like I mentioned yesterday and bad unemployment numbers to boot. Now we have a slight risk on scenario playing out as the chance for QE3 sooner has arrived. I had [...]
Forex Trading Commentary EUR/USD, GBP/USD, EUR/JPY April 12, 2012
April 12, 2012 by · Leave a Comment
Well trading the 3rd push chop is always a bit riskier but yesterday I have to say it was me who messed up my trades. I had a nice EUR/JPY short running and stepped away from my desk after I got my stop to break even only to return and see the market had run [...]
Forex Trend Trading Strategy – Part 2: Retail Trader Manipulation
April 12, 2012 by · 4 Comments
In the first forex training video entitled Forex Trend Trading Strategy – Part 1: Is The Trend Your Friend we talked about how smart money tends to trend the price over the course of days. Understanding this is a huge help when it comes to predicting the next direction of the market. With the being [...]
FX EUR/USD, GBP/USD, EUR/JPY Commentary April 11, 2012
April 11, 2012 by · Leave a Comment
The EUR/JPY trade that I was planning Tuesday had a different idea all together. Mainly due to a combination of news events that switched the markets to a risk off situation with the Bernanke speech that everyone expected a hint for more QE and never got it. then the BOJ disappointed with no printing either. On top [...]
Stop Run Reversal USD/CHF Short April 10, 2012
April 11, 2012 by · Leave a Comment
Trading was rough on Tuesday with the pair I liked the most not giving anything clear (EUR/JPY) mainly because of some news that turned the market into a risk off scenario and the USD/JPY started south during the Asian session and never looked back. I did take the long on the GBP/USD and took a [...]
Fx Commentary EUR/USD, GBP/USD, EUR/JPY April 10, 2012
April 10, 2012 by · 1 Comment
After yesterdays price action the markets are a little more clear and I am more confident we have seen the first push up and will be looking for the long today. Of course I followed my plan and took the short after the 3 intraday pushes up on both the EUR/USD and GBP/USD. Since they [...]
Forex Commentary EUR/USD, GBP/USD April 9, 2012
April 9, 2012 by · Leave a Comment
At this point guys I am in wait and see mode. With a disappointing NFP on Friday last week we seemingly had a level up but we need to be weary of reversals built on news. If there is a higher chance for the retrace and not push on its when the first level is created on [...]
GBP/USD Smart Money Trend Reversal Setup – April 5th 2012
April 6, 2012 by · Leave a Comment
Coming into the NY session on the 5th it looked as though both the EUR/USD and USD/CHF had completed their 3 weekly push to the downside. What confirmed the timing of the reversal was the 3 cycles that formed intra- day as well. Essentially both pairs were finishing their 3rd weekly push, and completed their [...]
EUR/USD, EUR/JPY Short Trade April 5, 2012
April 6, 2012 by · Leave a Comment
As I mentioned in the April 5th forex commentary we were only looking for the short here. I was expecting more of the retracement before the trade but I saw they were trapping long positions during the Asian session and took an aggressive entry on the EUR/JPY using the USD/JPY correlation as I was thinking it [...]
EUR/USD, GBP/USD ,EUR/JPY Forex Commentary April 6, 2012
April 6, 2012 by · 2 Comments
I sure hope everybody who reads this commentary got a good trade yesterday. As I noted most all the pairs I trade had a level 2 push and these trades have a very high probability of going the direction the market is telling us. The EUR/USD, GBP/USD, EUR/JPY and GBP/JPY all were clear with exception [...]
Forex Trend Trading – Part 1: Is The Trend Your Friend?
April 5, 2012 by · 12 Comments
Is the “trend your friend”? That’s a question I think everyone should answer based on their own experience. If your anything like most however, you probably find that you enter trades to late, don’t stay in long enough, or take them to early. Either way the trend, in the traditional sense of the word often [...]
FX Commentary EUR/USD, GBP/USD April 5, 2012
April 5, 2012 by · Leave a Comment
Hi all. Well its not the prettiest level 2 I have seen but as it stands we have had the 2nd drop on the EUR/USD. We also have 3 levels of intraday drop so at this point the most likely scenario is the pullback before the next push down. Considering the risk off situation that [...]
GBP/USD, EUR/USD Forex Commentary April 4, 2012
April 4, 2012 by · Leave a Comment
There is nothing like the Fed coming out and ruining my trade plan for the day. However it has made the charts a bit more clearer. At this point we do have the first leg down on both the EUR/USD and GBP/USD but this should be looked at with a bit of caution as it [...]
FX EUR/USD, GBP/USD Commentary April 3, 2012
April 3, 2012 by · 1 Comment
Hi all On Monday the EUR/USD did as expected and had a manipulation move to the upside before the 100 pip drop. Unfortunately I missed the entry and had to sit on the sidelines and watch. I did manage to get 30 pips off the GBP/JPY later in the day but wasnt happy to see [...]
Forex Commentary EUR/USD,GBP/USD April 2, 2012
April 2, 2012 by · 2 Comments
Hi guys. There hasnt been much that has changed since the weekly wrap although we did have a gap up this morning due to some Manufacturing PMI data released by China. The AUD/USD had the biggest jump but the EUR/USD and GBP/USD has a nice pop too. The funny thing is as I was going [...]
Stop Run Reversal On The USD/CHF 3/29/2012
April 1, 2012 by · Leave a Comment
I hope everyone had a great weekend! I wanted to get this trade posted because I think its a great example of how to use the stop run. If you really boil things down to the very basics you will be left with the stop run reversal. Ok, so that was a bit of an [...]
Weekly Wrap Forex Commentary EUR/USD, GBP/USD, EUR/JPY, GBP/JPY April 1, 2012
April 1, 2012 by · 1 Comment
The Charts The Euro has formed a 3 level drop in what I would consider level 3 price action and after the sharp rise to a topping formation I have a small bias to the downside for Monday. Im expecting the stop run to the upside first and will look for the manipulation to go [...]
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Daily Forex EUR/USD, GBP/USD, EUR/JPY Commentary April 30, 2012
Well the BOJ did as I expected and added another 10 trillion Yen to the market, even though I had to eat a little crow with the reports. However it would seem that the market simply ate that for lunch and said can we have another. The Yen crosses bumped for all of 15 minutes [...]