Day Trading Forex Live – Learn To Trade Pro Forex Strategies


EUR/USD, GBP/USD Analysis August 30, 2013

We got the second push on the Euro yesterday with it taking off during the Asian session and never looking back. In a normal situation I would be expecting the third push but being its Friday and the end of the month there is the possibility we see the flows at the end of week/month today and get a reversal. I should also point out that the second push was long and it is presently sitting on some solid daily support. I will have a small bias for the short since the war drums are still pretty loud even though Cammeron from the UK got a bit of a slap from parliament yesterday with them voting not to attack Syria. The problem is its looking like Obummer is willing to blacken his own eye and go it alone. Lets hope he’s not that big of a fool.

The best levels I see for the short are at 1.3250 and just above at 1.3266. When considering a long I would prefer to see the stop run to the lows but will be open for a play of the breakout traders at the Asian high and low if the range it tight. Otherwise if we do get the hourly close below yesterdays lows during the London session I will remain bias for the short and look to trade the continuation. If that does happen I wont be holding for a long run since the end of week/month flows have a good chance of slowing it down.

EU 1hr chart

To Learn More About The Secrets of The Mega Banks Check out What is Included in Our Lifetime Membership Here

The GBP/USD could only muster a 60+ pip move to the downside showing they may be ready to reverse now which would agree with a pullback to the upside on the weekly/monthly flows as well. Now that it has extended pushes and a nice daily pin that has held, well my gut tells me they will make the attempt at the pullback. There isn’t anything clear on the pushes as of now so playing it safe is the best option. The best level for the long is yesterdays lows and if it gets the hourly close below those lows they will probably test the overall lows at 1.5426. The opportunities for the short are at the psych 1.5520 but being in the middle of the chop it carries more risk. The better place is 1.5551 but if it gets there I hope I am in a long position and it breaks 😉

GU 1hr chart

Forex News Today

The economic calendar is light with nothing high impact of note. Therefore I expect the end of week/month flows along with the war drums to be what gives the best chance for manipulation and good entry. I have my doubts they will break these daily lows on the Euro and the GBP/USD looks to have the better chance for the reversal now all considered.

Have a great weekend


If you have questions about joining Day Trading Forex Live and becoming an active member please feel free to contact Robin Haywood. He is a current member and has volunteered to answer any questions to give you an idea of what the service involves and support we provide.

You can email him at to set up a time for a conversation over the phone if you like or call his US phone line at 702-560-8552 or Skype at RobinHaywood

Do You Enjoy The Daily Forex Commentary? Please Click The Like Buttons, Tweet It, and Google + It Below !!


Related Articles


  1. tom
    tom August 30, 11:05

    Hi chad. Yall say the best time to do a trade is the NY and London sessions. Could you pin point that time in United States time- I am in the Central TIme Zone in the US. Thanks Tom.
    learning a lot so far

    Reply to this comment
    • Chad
      Chad August 30, 12:16

      Hi Tom
      The London session starts at 2am your time while the NY session starts at 7am your time. The first 3 hours of each session have the best opportunity but the London session is tradable after that but the closer it gets to the New York open the riskier the entry gets because getting caught in a stop run or manipulation during the beginning of the NY session goes up.


      Reply to this comment
  2. Hafiz
    Hafiz September 01, 17:24

    I believe this method can be apply in gold/silver market as well. if so, what kind of level/key should we look out for? Thanks in advance? 😀

    Reply to this comment
    • Chad
      Chad September 02, 02:41

      Hi Hafiz, Yes the gold and silver markets are just as manipulated as any other but is done in different ways as we saw with the smack down earlier this year. Having said that, from a day trading standpoint the levels to watch are the daily highs/lows and closes. These will be the levels that have the highest significance to day trade them with seeing the same manipulation we look for in forex. I would not recommend holding trades overnight or the weekends though.
      Hope this helps

      Reply to this comment

Write a Comment

fx trading course singup

fx trading course

*30% Off The Advanced Bank Trading Course* - Ends October 31st 2016SHOW ME NOW!