Archive for December, 2018

  • The Foreign Exchange market, also called FOREX or FX, is the global currency trading market. ... On the FOREX market one currency is exchanged for another. The single most important thing on the FOREX market is the exchange rate between two currencies (a currency pair).

    EURJPY BREAKEVEN

    This trade went wrong from the very beginning. I normally use Ichimoku cloud to help me decipher Support and Resistance…

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  • This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as

    USDJPY PROFIT

    If I remember correctly, that is 2 USDJPY profitable trades in a row. This is my least favourite pair to…

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  • On the daily chart, this line is the mid point of the 52 day high-low range, which is a little less than 3 months. The default calculation setting is 52 periods, but can be adjusted. This value is plotted 26 periods in the future and forms the slower Cloud boundary.

    AUDUSD PROFIT

    I got back in again, because price bounced off my pre-drawn support line. Trade closed after price looked like turning…

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  • The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a versatile indicator that defines support and resistance, identifies trend direction, gauges momentum and provides trading signals. Ichimoku Kinko Hyo translates into “one look equilibrium chart”.

    AUDUSD LOSS

    The FED announced an interest rate hike, which caused havoc in the markets for about 10 mins. I thought the…

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  • The term

    EURCHF PROFIT

    I missed the initial entry because I was away from my desk. Trade was taken with a smaller return outlook.…

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  • The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace.

    AUDUSD LOSS

    I got back into the trade because price deviated back down to my previous entry. Trade was not successful, and…

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    AUDUSD PROFIT

    I got back into the trade again. The lower entry was compounded and confirmed by a hammer candlestick pattern. I…

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  • On the daily chart, this line is the mid point of the 52 day high-low range, which is a little less than 3 months. The default calculation setting is 52 periods, but can be adjusted. This value is plotted 26 periods in the future and forms the slower Cloud boundary.

    AUDUSD LOSS

    I was alerted to this trade by the Forex App I am using currently. Perhaps, it was my eagerness to…

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  • The term

    GBPJPY PROFIT

    After cycling through my currency list, I noticed that I missed the GBPJPY sell opportunity. As with most of my…

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  • The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace.

    USDJPY PROFIT

    I was a little late getting in because my focus was looking through the longer term charts. The USDJPY has…

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