You need to stay with your technical indicators on your charts but with out staying discipline you will not make any profits. Trading forex news can be risky it is you against the currency market so you need to be careful. The swings during news release can be brutal it is not for the new forex trader. Experienced traders have spent years developing a trading style taking in consideration price action and focusing on their technical set ups. Most of the time the big money in the markets have already factored in the news and information ahead of the news release. This is why you need to be very cautious trading the news. The best way is to watch the price action after a news release and wait for a pull back then enter the trade staying with the trend. Watch your charts and place your trade from your technical analysis.
How to manage trades
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Monday, March 9, 2015
EUR/USD FX
Summary : Target Level : 1.1217Target Period : 3 days
Analysis :
Channel Down identified at 09-Mar-08:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.122 within the next 3 days.
Resistance Levels :
( B ) 1.1217Last resistance turning point of Channel Down.
Support Levels
( A ) 1.0824Last support turning point of Channel Down.
Analysis :
Channel Down identified at 09-Mar-08:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.122 within the next 3 days.
Resistance Levels :
( B ) 1.1217Last resistance turning point of Channel Down.
( A ) 1.0824Last support turning point of Channel Down.
Friday, March 6, 2015
USD/CHF FX Chart
Summary : Target Level : 0.9593Target Period : 2 days Analysis :
Channel Up identified at 06-Mar-01:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.959 within the next 2 days.
Supporting Indicators :
RSI above 60
Resistance Levels :
( B ) 0.9749Last resistance turning point of Channel Up.Support Levels
( A ) 0.9593Last support turning point of Channel Up.
Channel Up identified at 06-Mar-01:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.959 within the next 2 days.
Supporting Indicators :
RSI above 60
( B ) 0.9749Last resistance turning point of Channel Up.Support Levels
( A ) 0.9593Last support turning point of Channel Up.
Wednesday, March 4, 2015
USD/CAD Forex Chart
Summary : Target Level : 1.2566Target Period : 2 days
Analysis :
Triangle identified at 04-Mar-05:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.257 within the next 2 days.
Resistance Levels :
( B ) 1.2566Last resistance turning point of Triangle.
Analysis :
Triangle identified at 04-Mar-05:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.257 within the next 2 days.
Resistance Levels :
( B ) 1.2566Last resistance turning point of Triangle.
Support Levels ( A ) 1.2433Last support turning point of Triangle.
Tuesday, March 3, 2015
USD/JPY Chart
Summary : Target Level : 118.681Target Period : 3 days
Analysis :
Channel Up identified at 03-Mar-05:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 118.681 within the next 3 days.
Resistance Levels :
( B ) 120.2655Last resistance turning point of Channel Up.
Support Levels
( A ) 118.681Last support turning point of Channel Up.
Analysis :
Channel Up identified at 03-Mar-05:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 118.681 within the next 3 days.
Resistance Levels :
( B ) 120.2655Last resistance turning point of Channel Up.
( A ) 118.681Last support turning point of Channel Up.
Monday, March 2, 2015
USD/JPY Chart
Summary : Target Level : 119.265Target Period : 13 hours
Analysis :
Channel Up identified at 02-Mar-06:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 119.265 within the next 13 hours.
Resistance Levels :
( B ) 119.955Last resistance turning point of Channel Up.
Support Levels
( A ) 119.265Last support turning point of Channel Up.
Analysis :
Channel Up identified at 02-Mar-06:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 119.265 within the next 13 hours.
Resistance Levels :
( B ) 119.955Last resistance turning point of Channel Up.
Support Levels
( A ) 119.265Last support turning point of Channel Up.
Friday, February 27, 2015
EUR/USD FX chart
Summary : Target Level : 1.1168Target Period : 2 days
Analysis :
Triangle has broken through the support line at 26-Feb-17:00 2015 GMT. Possible bearish price movement forecast for the next 2 days towards 1.117.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( A ) 1.138Last resistance turning point of Triangle.
Analysis :
Triangle has broken through the support line at 26-Feb-17:00 2015 GMT. Possible bearish price movement forecast for the next 2 days towards 1.117.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( A ) 1.138Last resistance turning point of Triangle.
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