Fundamental expectations were not forfilled yesterday as the Euro surged ahead in the New York Session. The charting landscape reveals a head on collison on the major timeframes. Today we shall analysis the competing forces to see if we can interpret market direction.Firstly by checking price and then we will use the multiple moving average band system to see what revelations they give us and thirdly we will look to any indicators for overbought/ oversold and continuation signals. (more…)
by Loren Morlan; loren@metatradertools.com,
www.metatradertools.com
The daily trend is up and consolidation. A reverse positive divergence suggesting > prices is noted on chart. It seems most likely that daily bulls are still controlling price. MACD red and green lines do not trace a reverse positive divergence because they are slower than RSI movement. However, MACD vertical lines do trace a RPD like RSI and confirm each other. The last daily H-A candle is a strong sell. (more…)
by Loren Morlan, loren@metatradertools.com
www.metatradertools.com
Our first chart (EUR/GBP) is an expanded chart showing low to high over the longest period available for examination/analysis. The technician should start their analysis with the longest period available for study.This chart only uses Fib lines commencing at point A to B, generating the fib lines shown. The purpose of this limited examination is to establish information regarding the trend direction and strength. (more…)
We are pleased to announce the commencement of writing for our Metatrader Traders blog by Loren Morlan, a US based discretionary Trader. Loren has been a trial Lawyer for 25 Years and began Trading in 1990. She has traded Stocks, Mutuals & E mini Futures and now Forex using the Metatrader platform.
Loren will be providing current market charts with analysis and a detailed methods of her trading style. I first saw Lorens posts on a automated trading forum and always found her methods detailed and analytical, we are pelased to lure her to this site. Loren welcomes questions and comments through the comments section of the blog. Her articles will appear on the main posts and also archived in her own pages on the site.
Even traders with limited experience start to realize that we are not trying to capture every market move. We want to improve our odds and reduce our frustration by filtering, for high-probability trades. (more…)
So much time is spent on entering a trade. Today I want to focus on some exit strategies. This is not a full Fibonacci course, so if you don??™t understand the basics I suggest that you visit my website for help with those aspects. (more…)
The forex (foreign exchange) market is the largest trading market in the world, estimated at 1.8 Trillion dollars daily; it dwarfs the next competitor,The New York Stock Exchange (NYSE) by 2 to 1 in the dollar per day turnover stakes. It is the modern day warrior battlefield and from lone day traders to the largest investment institutions and probably your local main street bank, all are playing this 24 hour, 5 day a week market and many are using the mathematical formula???s of a long dead Italian mathematician called Leonardo Pisano, (c. 1170 - Pisa, 1250), nicknamed Fibonacci to improve their profits. (more…)
Trading psychology has become so widely discussed and promoted through books and consultants that it has become a very convenient rationalization and excuse for losing. Why take the responsibility for a lack of work ethic and trading without any concept of plan, an honest assessment which would be a ???hit??™ on the trader??™s self-esteem ??“ when you can just blame it on trading psychology instead? (more…)
I ventured into the FOREX market a little more than 1 year ago. I have tried and tested many different types of trading techniques and styles. Most were failures and some were successful. From my experience, traders making money in FOREX will not reveal their trading system, simply because somebody has to lose money in order for you to make money. (more…)
Once you have entered the world of Forex trading you will immediately find this field is not just about entering trades into your broker??™s trading station, but mainly about becoming profitable, as often as possible, with those many trades you enter and think will be the good ones. (more…)
