While every successful trader has his or her own way of being consistently profitable, there are a few “common denominators” that all profitable traders follow without exception. Chad and I have a combined 17 years of experience in this market, with 8 of those years spent teaching others our forex trading strategies. As you might imagine we have met many traders [...]
Forex EUR/USD, GBP/USD Daily Market Commentary May 30, 2012
May 30, 2012 by · Leave a Comment
Welcome back to another daily forex commentary. Today we finally see the drop on the EUR/USD from the range bound market the last several days and have a clear push and 90+ pip run. There are 2 ways we can look at this. Using intraday pushes we have 2 starting from the high of the [...]
FX Market Commentary EUR/USD, GBP/USD May 29, 2012
May 29, 2012 by · Leave a Comment
The move on the EUR/USD yesterday tells me there was not much desire to take stops above the 1.2626 level but with most of the banks on holiday yesterday the lack of their participation leaves a bit of a question as to if they will make another attempt. The fundamental picture only gets bleaker as [...]
Forex Market Daily EUR/USD, GBP/USD Commentary May 28, 2012
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Happy Memorial day every body. Due to the holiday the markets could be choppy so be careful out there. The EUR/USD has had its fourth week in a row opening with a gap on Monday. However this time it was up rather than down. There were a couple news events over the weekend that may [...]
Daily Fx EUR/USD, GBP/USD Commentary May 25, 2012
May 25, 2012 by · Leave a Comment
The EUR/USD seems to me prepering for the next phase lower as we see here on the 1 hour chart it looks like the Smart money induced the selling only to reverse and push price up to take the stops of those sellers and getting ready for the drop. They wont do it until the [...]
Forex Market Daily EUR/USD, GBP/USD, EUR/JPY Commentary May 24, 2012
May 24, 2012 by · 5 Comments
All I can say about the EUR/USD is WOW. The weakness was worse than I expected as of yesterdays commentary. That yearly low was only hit once and then the next test was not just a test but a clean break and daily close below which tells me there is more to come. It made [...]
Forex Market Commentary EUR/USD, GBP/USD May 23, 2012
May 23, 2012 by · 1 Comment
It would seem that the Smart Money had no desire to make the third push I expected yesterday and just continued the drop that started in Asia for the better part of 150 pips. Right now it has pushed down to the previous daily lows around 1.2640 and is making the bounce. We also have [...]
NY Reversal Continuation Trade – May 22nd 2012
May 22, 2012 by · 2 Comments
In the Daily Market Review last night I mentioned the 1.5839 level on the GBP/USD and called attention to the clear accumulation that was occurring after the 3rd cycle down. As with any accumulation area the safest trades are stop run reversals at the range high or low. This was exactly what we got in the Pound [...]
Fx Daily Commentary EUR/USD, GBP/USD, EUR/JPY May 22, 2012
May 22, 2012 by · 2 Comments
The EUR/USD did rather close to what I had expected in yesterdays May 21 commentary. It did manage to make a larger drop than I expected but none the less there was a nice entry at the 200ema on the 15 minute chart. It did give me a bit of a scare and just missed [...]
Live Forex Trading Seminar – May 5th 2012: Part 1 & 2
May 21, 2012 by · 2 Comments
The last live forex training seminar really hit the charts in an effort to show the manipulation and how we as retail forex traders can use it to our advantage. Unfortunatly the question and answer section was not seen and this is what takes us in many directions which I feel is beneficial for all [...]
Forex Market Daily EUR/USD, GBP/USD, EUR/JPY Commentary May 21, 2012
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After the fluke pop in the EUR/USD during thee last hours of the US session Friday closed out my EUR/JPY short at break even. The market did not gap down as much as some might have expected on the G8 meeting. At this point we have a 1st push to the upside and I do [...]
Fx Market Commentary EUR/USD, GBP/USD, EUR/JPY May 18, 2012
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The bottoming formations noted in the May 17 commentary failed miserably yesterday for several reasons will get to later. For now I expect the downtrend to continue as there is nothing all that positive coming out of the markets. On the EUR/USD the hourly close below Wednesdays lows shows us that the bottoming formation was [...]
Daily Forex Market Commentary EUR/USD, GBP/USD, EUR/JPY May 17,2012
May 17, 2012 by · 2 Comments
Hello all Its looking like we may be getting a turn around from the drop into the abyss. The EUR/USD is showing a nice looking bottoming formation and does show more potential for a long position today. After several pushes down over the last 2 weeks its looking like we can now get a decent [...]
FX EUR/USD, GBP/USD, USD/JPY Daily Commentary May 16, 2012
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The EUR/USD weakness I have been harping about the past several days came out in a big way yesterday with the 150 pip fall from the highs. Of course it was helped by the Greeks finally admitting they couldnt get a government together and will be having another vote next month. I tend to agree [...]
Forex Daily Market EUR/USD, GBP/USD, EUR/JPY Commentary May 15, 2012
May 15, 2012 by · Leave a Comment
The fact that the EUR/USD could not come back and close the 16 pip gap on Monday goes to show just how weak the Euro is these days. I feel sorry for the gap traders out there as 2 Mondays in a row have failed to close their respected gaps. They did make a valiant [...]
Forex Market Commentary EUR/USD, GBP/USD, EUR,JPY May 14, 2012
May 14, 2012 by · Leave a Comment
For a second consecutive Monday we open with a gap. This time it is much smaller than the 70 pip one from last Monday. Closing a 16 pip gap is much easier and this one I am rather sure will get closed. With all the talk last week of “there wont be a Greek government” [...]
Daily Forex EUR/USD, GBP/USD, EUR/GBP Commentary May 11, 2012
May 11, 2012 by · Leave a Comment
The EUR/USD held its bottoming formation yesterday however it has broke it this morning during the Asian session and looks set to make a further push down. That doesnt surprise me considering the unraveling that is happening in Europe right now. We may even see the market run off today without providing me with a [...]
EUR/GBP London Session Live Room Trade May 10, 2012
May 11, 2012 by · Leave a Comment
The live room sessions are mainly for education purposes but its is nice when we see trades occur during them. This one on the EUR/GBP was during the London session on Thursday May 10th. The main pairs I watch were not setting up the way I liked and just like what happened on Wednesday the [...]
Forex Market Daily Commentary EUR/USD, GBP/USD May 10, 2012
May 10, 2012 by · Leave a Comment
What a mess the market was yesterday with the EUR/USD doing absolutely nothing during the London session and the GBP/USD running off for what seemed no reason at all without even being good enough to provide me an entry. The nice thing is we can still find trades if we know what to look for. [...]
Asian Range Stop Run Day Trade EUR/GBP May 9, 2012
May 10, 2012 by · Leave a Comment
Here is a classic Asian range stop run trade that we see on a regular basis. The EUR/USD was doing a whole lot of nothing during the London session while the GBP/USD ran off with out providing a safe entry. In a situation like this there are still trades to be found as long as [...]
GBP/USD NY Reversal Trade Setup: May 7th 2012
May 9, 2012 by · Leave a Comment
Often times the difference between a profitable trader and one who struggles is dicipline and patience….two things people rarely look into when they try to learn to trade forex. I can’t say how many times I talk about it in the forex room, but yet most overlook it. I mean after all isn’t the strategy [...]
Forex Commentary EUR/USD, GBP/USD May 9, 2012
May 9, 2012 by · 4 Comments
The EUR/USD did make the reversal of the 3 pushes intraday yesterday and now has made a choppy push to the downside. If I try and clear it up by going to the 4hr chart it shows me 2 pushes down so far and I would expect the 3rd during the London session after a manipulation [...]
FX Daily EUR/USD, GBP/USD, Commentary May 8, 2012
May 8, 2012 by · Leave a Comment
Both the EUR/USD and GBP/USD definitely had more desire for the the run up than I expected yesterday. I did think the GBP had more potential to the upside but it seems there was a much bigger desire to fill the gap on the EUR/USD than I anticipated. Which in turn drug the GBP/USD with it. The [...]
Daily Forex EUR/USD, GBP/USD Commentary May 7, 2012
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The EUR/USD has had the gap down I mentioned in our forum over the weekend due to the elections in France and Greece. The French were somewhat expected to get rid of Sarcozy but the Greek wild card could still have some nasty repercussions down the road depending on how the political parties in Greece can work [...]
Protecting Your Financial Future – Lesson’s From 1929
May 4, 2012 by · 4 Comments
Of all the forex training articles on this site, and of all the training videos….these may very well be the most important. Its been said that those who fail to learn from history are doomed to repeat history’s mistakes. The parallel’s between the crash of 1929 and today are so obvious, but yet so blissfully [...]
EUR/USD, GBP/USD, EUR/JPY Daily Forex Commentary May 4, 2012
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After leaving interest rates at 1% it would seem that Mario Draghi is a better Euro pumper than Jean Claude Trichet was. The way the market reacted sure looked like I wasnt the only one thinking they may do a surprise cut but when he said that there was not even a discussion about lowering [...]
FX Daily EUR/USD, GBP/USD Commentary May 3, 2012
May 3, 2012 by · 1 Comment
Well with the across the board negative European PMI data yesterday the stops above the 1.3300 level in the Euro didnt seem so attractive and we have had a decent 2nd push from the highs and expecting the third today. I am a little concerned that first of these pushes is less than 90 pips [...]
Daily Forex Commentary EUR/USD, GBP/USD, EUR/JPY, GBP/JPY May 2, 2012
May 2, 2012 by · 1 Comment
The low volume and ISM Manufacturing data put a halt to any stop run to the upside on the Euro yesterday and now we have the decoupling theory creeping back into the markets. How long it will last is the real question here. I have my doubts it will be that long but considering the [...]
Forex Daily Commentary EUR/USD, GBP/USD, EUR/JPY May 1, 2012
May 1, 2012 by · 1 Comment
Happy May Day everybody. Its actually Labor Day here in the Philippines. Considering many countries around the world are on holiday the market could be rather boring and at the same time have potential for wild swings on low volume. This is the prime opportunity for the manipulators to be taking weak position stops so [...]
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Daily FX EUR/USD, GBP/USD Commentary May 31, 2012
Welcome back for the May 31, 2012 Fx commentary. I cant say I was surprised to see the 100+ pip moves on the EUR/USD and GBP/USD when I woke up this morning. A little disappointed I didnt get a trade yesterday but still happy that some of our more aggressive members did. Good job guys. [...]