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Showing posts from December, 2018

FOREX INSIGHTS 29-DEC-2018

EUR/USD:  EUR/USD is poised to close nearly 5% lower year-to-date with the pair trading just 1.5% off the 2018 lows. For months now, we’ve been tracking a key support pivot in Euro and the focus remains on a breakout of the consolidation range which has governed price since October.   Price holding critical support confluence at 1.13 GBP/USD: Headlines:Sterling moves higher after UK retail sales rise above expectations Sterling is facing resistance and  rallied a bit during the week, reaching towards the 1.27 level. The British pound has broken through a significant support a couple of candlesticks ago, and it now looks as if it is offering resistance yet again.  GBP will continue to struggle, and the breakdown from a couple of candlesticks ago suggests that we are trying to make the next leg lower. USD/JPY: Traders have remained net-long since Dec 18 when  USDJPY  traded near 112.517; price has moved 1.9% lower since the...

Trading Psycology and Methodology

Currency Pair Analysis: Perform a world class analysis to determine which currency pairs have the greatest profit potential. Trade Management: Trade management techniques to take the most of each trade when the market moves on their favor. Study the Market: Entry system adapts to the current market conditions, follow the market instead of guessing. Risk Management: Risk management techniques to set stop loss and take profit orders at optimal levels. Accept risk and feel comfortable with their trading, they know it’s the only way to get consistent results. Money management techniques to allow the geometric growth of their account and avoid the risk of ruin. Long-term analysis:  Methodology to determine which currency pairs have the greatest profit potential. Short-term analysis:  Entry systems: breakout, retracement and continuation price action entries. Capital management:  Determine the formula that you will use to decide how much capital to risk on each t...