Author archive for contacttf

  • 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).

    GBPUSD BREAKEVEN

    I got into the trade again using my previous entry signals. The position was closed manually because, price just bounced…

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  • The term

    GBPUSD LOSS

    I mapped out the Resistance point for the chart, all the back to the 4 hour time frame. Trade did…

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  • In the forex market, think of money as a commodity, you are buying a currency hoping that its value will increase, and if you are selling you are betting that it will decrease. ... Instead the forex market is an interbank market, which means it's all connected together in a network of banks and institutions.

    GBPUSD LOSS

    Using the framework of the previous trade. This opportunity came about above my entry point. Trade did not work this…

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  • DEFINITION of 'Tenkan-Sen' The mid-point between the highest high and lowest low of a particular security calculated over the past nine periods. The Tenkan-Sen line is the conversion line used specifically in the Ichimoku Kinko Hyo (or Ichimoku Cloud) equilibrium charts.

    GBPUSD PROFIT

    There were not many opportunities to trade today. I even thought about looking at other markets, including the Chinese and…

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  • The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

    USDCHF PROFIT

    The Swissy was on my Watchlist for some time. USDCHF showed its colours before EURCHF. What I found was that…

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  • All currency trading is done in pairs. Unlike the stock market, where you can buy or sell a single stock, you have to buy one currency and sell another currency in the forex market. Next, nearly all currencies are priced out to the fourth decimal point. A pip or percentage in point, is the smallest increment of trade.

    USDCAD PROFIT

    Entry taken again, but this time I was able to score a support line from the 4 hour chart. 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.

    USDCAD PROFIT

    I took another punt at USDCAD, but again I did not follow my strategy. I was unable to draft a…

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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.

    USDCAD BREAKEVEN

    There was never really an opportunity here. I forced this trade through. The 1, 5 and 10 min charts were…

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  • 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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