Forex weekly techical analysis - forex trading business plan template

Forex weekly techical analysis ~ forex trading business plan template

Forex technical analis
I will post here my weekly technical analysis on popular currencies pairs.
Today i will cover USD/CAD so lets get started, look at the daily chart

Not much to talk about but we can get clear picture of what is going on, this pair is currently heading down and is near the resistance level, so it will be proboably go down as this is very strong resistance (tested many times). Now look at MACD histogram, the divargence is very small it indicates that bull momentum is very weak, so i think USD/CAD will stay bearish.
Now lets look at 4H chart



-Check out trendline, it was hit 3 times so it is quite important trendline
-Now look at Fibbonaci retracemnet last bull move was retraced to 66%, and it looks like this resistance level was strong enough to defend itself
-Look at RSI i put a trendline on it and we can clearly see that RSI is also in bullish trend

So putting it all together i think we will have short term bullish run back to 1.1725+-25 pips and then double top on 4H chart will be formed which ofcourse mean trend reversal and market will become bearish.

Quick fundamental analis.
CAD is strongly correlated with oil price wich is heading up, so CAD will most likely get stronger and stronger, on the other hand USD is also heading up but it is not as strong as CAD is.
So there is high probability of bearish trend.

What to do?
This is what i will do, but keep in mind that no one knows where the market is going so i can easily be wrong.
I will take long position near the resistance level about 1.16 and put stop loss based on 15M chart so you have to do it yourself but i wont make it more than 30pips away from opening price, and i will put take profit somwhere about 100 pips away from open price proboably 1.1725.
When the bullish move will end i will wait for a trend reversal candle (1D chart).

So this is it, waiting for your comments.

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The FX Revolution Starts At Zero - forex trading profitable business

The FX Revolution Starts At Zero ~ forex trading profitable business

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FX Sony Trading System - forex trading advice for beginners

FX Sony Trading System ~ forex trading advice for beginners

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Forex weekly technical analis EUR USD - forex trading business opportunity

Forex weekly technical analis EUR USD ~ forex trading business opportunity

Last week Forex results.
As i said USD/CAD moved to the resistance level and then went down very quickly, but it was very hard to catch this move so we have to wait fo retracement to catch another bearish wave.

I made +60 pips on this, i hope you made more than that.
This week Forex technical analis.

Look at 1D EUR/USD chart

It is still going up, but is quite close to very strong resistance level.
Take note of MACD and RSI, they both are moving up what indicates bullish move, i drew trendlines on them so you can get better picture of it.
Look also at Fibonacci retracement, 38% level wasnt broken so it is also good news for bulls.

Now lets take a look at 4H chart.


Both MACD and RSI are going down, but trendlines were crossed and it is usually sign of strong bullish move which can take place.

Well there isnt much to talk about nothing is really sure when market is trading but i think it will be good to take LONG position near 38% retracement.
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Basket Trading EA Trading System - forex trading is trustable business

Basket Trading EA Trading System ~ forex trading is trustable business

Basket Trading EA & Trading System

Here are my two test setups for the week with the new EA, the first one is a basket with 5 pairs and Lot = .02.
The second one is a 14 pair basket with Lot = .01.
The third screen shot is just an example of how 2 long trades can work.
The arrows on the chart are an indicator I use that I have placed the EA rules into so I can do a quick back check of what different settings would have looked like in the past and not part of the EA, this way I can check to see if my rules work without having to wait weeks for the EA to take trades.
Now all we have to do is wait and see if the EA does what it should this week if it follows the rules.

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Central bank to unite forex trading systems - what is forex api trading

Central bank to unite forex trading systems ~ what is forex api trading

The central bank is planning on combining the nations traditional foreign exchange trading system with a new system initiated last year by the end of 2006, the China Securities Journal said Saturday.

An integrated system would be the lastest in a series of reforms to increase market efficiency and monitoring, the newspaper said.

The new system was launched a year ago and allows domestic trading in eight foreign currency pairs. It is a step toward a market-based environment by allowing domestic banks to trade foreign currencies, but is separate from yuan trading.

Read more here.

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Surge in aluminium prices helps lift trade figures - api for forex trading

Surge in aluminium prices helps lift trade figures ~ api for forex trading

A surge in prices for aluminium exports helped lift the merchandise terms of trade index 1.1 per cent in the March quarter, Statistics New Zealand (SNZ) said today.

The figure was unexpectedly good with economists polled by Reuters having forecast a 1 per cent fall.

The terms of trade index measures how many goods can be imported for every dollar of exports.

SNZ said merchandise export prices were up 3.2 per cent, the largest quarterly increase since a 7.2 per cent rise in the June 2004 quarter.

The most significant contributor was non-food manufactures up 5.9 per cent, predominantly driven by a 22.6 per cent increase in aluminium prices.

The second most significant contributor to the rise in export prices was a 4.9 per cent rise in the forestry products index, with prices for wood exported as logs up 6.5 per cent, wood pulp up 5.1 per cent, and paper and paper products up 2.7 per cent.

The rise followed depreciation of the New Zealand dollar against currencies of our major trading partners, combined with increasing world prices for some of our major export commodities, SNZ said.

Import prices were up 2.1 per cent, with transport equipment up 4 per cent, pushed by higher prices for aeroplanes and other aircraft, and new passenger motor cars.

The petroleum and petroleum products index continued to rise although at a slower rate. In the March quarter it was up 4 per cent, following a 5.6 per cent rise in the December quarter and 11.3 per cent rise in the September quarter.

Weakness of the New Zealand dollar had been a factor in the import price rise, with the March quarter being the first since June 2004 that the currency had fallen against the currencies of all major trading partners, SNZ said.

Seasonally adjusted export volumes fell 2.4 per cent, with a 17.2 per cent drop in meat volumes the main contributor. The volume of meat exports was at its lowest level since the December 2002 quarter.

Seasonally adjusted import volumes were up 0.5 per cent with fuels and lubricants the main contributors.

Read more here.
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1000 MT4 Indicators - forex trading world wide business

1000 MT4 Indicators ~ forex trading world wide business

1000+ MT4 Indicators :)

Collecting MT4 indicators and I though I might share that around here as well..

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FXCP Trading System - expert advice forex trading

FXCP Trading System ~ expert advice forex trading

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Stop using HedgeHog! - forex trading tax singapore

Stop using HedgeHog! ~ forex trading tax singapore

I have a quite sad news for you, i backtested both hedgehog strategies with MetaTrader which i described earlier and results are not as good as i thought.

More over using HedgeHog you cannot even breakeven it is a fast way to loose all your money. It is interesting because when i backtested it with spreadsheet results where quite good, and i used the worst case scenerio because i was backtesting this strategy on daily bars, so modeling quality was quite low.

Although HedgeHog seemed to be simple and effective strategy, without a big drawdown, so everything should be ok but ... well it isnt.

If you want to try to trade this strategy anyway, then you better try it on demo first and do not use big lots.
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PVSRA Price Volume S R Analysis - forex trading is a good business

PVSRA Price Volume S R Analysis ~ forex trading is a good business

PVSRA (Price, Volume, S&R Analysis)

Introduction to PVSRA
So, let us begin with an overview of PVSRA. In time, more will be transcribed here, but let this suffice for now. I would like to break this up and say something brief about each part. Okay?

Price - Some people say "Price Action is King". I say, we cannot know how the MMs (Market Makers) will move price next, period. But price tends to consolidate above key SR when MMs are filling short orders for SM (Smart Money) and long orders for DM (Dumb Money), and price tends to consolidate below key SR when MMs are filling long orders for SM and short orders for DM. The MMs are also "SM", and they tend to do the other SMs "one better"! This means that after the MMs fill the SM/DM orders, they might move price a bit further in an attempt to stop out some of those SM executed orders and sucker in more DM; both giving liquidity for the MMs to add to their own SM side position. Yes, the MMs are bastards. But the point is that could leave price not "nicely" above or below a SR anymore, yet more consolidation can occur.

Volume - Increases in activity denote increase in interest. But, is it long or short interest? Where is price in the bigger picture when this is happening? Is it at relative highs, or lows in the overall price action? And if a high volume bar is for a candle which you can examine by going to lower TF charts, you might see where in the spread of that candle the most volume occurred, high or low! Using volume is about taking note of relative increases in volume and what price is doing at the same time. Are the better volumes favoring the lower or the higher prices, as the MMs waffle price up and down? And do the volumes get particularly notable when the MMs take price above or below key SR?

S&R - Read all about S&R at "Baby Pips.com". What I want you to realize here is that the whole, half and quarter numbered price levels (hereinafter referred to as "Levels") are the most important SR of all in this market! Not because price stops, pauses, proceeds or reverses there, but because it is above or below these levels that important consolidation (MMs filling SM orders) takes place. Once SM long orders are filled, they become interested in placing orders to close them at higher prices, and hence the MMs will be moving price higher, eventually. Once SM short orders are filled, they become interested in placing orders to close them at lower prices, and hence the MMs will be moving price lower, eventually.

PVSRA - If we can spot consolidations above/below key SR, examine the overall price action on various TF charts, and take note of where the notable increases in volume have most recently occurred (did volume favor relative highs or lows), then we can build a consensus about what kind of orders the MMs have most recently been filling; buying to open longs or close shorts, or selling to open shorts or close longs. And we can get a better idea if things will next become bullish or bearish. And once PA confirms our bullish or bearish PVSRA results, by recognizing the importance of Levels we can look beyond current PA in the direction it is going and look to historic PA S&R (consolidation around key Levels) to come up with candidates for where the price might be headed. And bull or bear swings typically run in terms of 100+, 150+, 200+ pips, .....etc. And now you know why.

Okay. Now, if this is your first introduction to PVSRA, and having just read the above, you are likely scratching your head and still confused. That is normal. I will tell you a secret about the market and why you have a right to be confused. The secret is this. The market cannot be defined by mathematics nor by immutable logic. This is why the most advanced mathematicians over a century have never even come close to cracking the market. It cannot be done. Something else, other than math and immutable logic is the fundamental operand in the market. Have you ever watched a child attempt a jigsaw puzzle for the first time? And watched as that child grew and attempted more of them, and more complex ones? What is at work in the market I will elaborate on later, but for now trust me in this. We need to apply ourselves to learning how to do PVSRA just as a child attacks learning how to do jigsaw puzzles. And we must continue doing PVSRA, because in time our mind will "learn" when we have just picked up an important piece of the puzzle, and that we know where it goes! Developing the skill of PVSRA is an art form. We must not allow ourselves to feel badly if we miss clues. PVSRA is an art form that takes time to perfect. Over time our skill will grow and our "read" of the unpredictable market will improve. We must take to ongoing learning and application of PVSRA.


Introduction to How the Market Really Works
Does anybody remember the "lil Abner" cartoons in the Sunday papers? Let me draw for you a mental picture of how the market really works.....

Imagine Daddy Yokum ferociously racing a buckboard wagon up and down the steep inclines and declines in the rough, rocky mountain road that has sharp turns and a sheer cliff on one side. The wagon wheels are spewing rocks off the side of the cliff! Even Daddy Yokums shotgun is going off due to the jolting of the buckboard! Daddy Yokum has a demented look on his face, but he is smiling! The horse has a wild look in its eyes and is frothing at the mouth. There are two passengers being tossed around in the back of the buckboard, terror stricken! Now, lets pan back from this cartoon picture and place the labels needed. On the side of the wagon is the sign "Market Pricing". The demented, smiling Daddy Yokum, is the Market Maker. The passengers being tossed around are the buyers and sellers.

.....Got it? Market prices are not determined by the buyers and sellers. They are determined by the Robber Bank Market Makers (MMs).


MMs are Market Manipulators of Price, and Thieves!
The "market" is the sole creation of the Robber Banks that "make the market". While it serves the world of commerce, they run it to make profits. And they opened the market up to foster prolific currency trading by others for the sole purpose of making more profits. They move prices up and down to "create liquidity" to fill the orders of SM (Smart Money) and DM (Dumb Money), for the commissions they make by filling the orders. When they have some orders above the current price and some below the current price, who do you think determines the sequence of direction and distance the price is going to move so these orders can be filled? And always - since they know how they are going to move price next - they take positions themselves to make additional profits.

They do this by:
1. Manipulating price to sucker into the market DM that is taking the wrong side position.
2. Manipulating price to sucker into the market SM that is taking the right side position, but too soon, and later manipulating price to hit their stops.

They have total control of pricing, and by these actions they effectively "steal" from others the money to fill their own "right side" positions before moving the price to the next area they have decided on for filling orders, and for taking profit on their positions built beforehand. Dont get me wrong. I do not object to the market volatility these thieving Robber Banks create. We need it. But we also need to understand what these people are like, the cloth they are cut from. They are crooks, and we have to be extra careful about trading in the market they operate. On some special days you can see them in their true colors. We should witness it. Take note of it. Speak of it. And remember it!

So, it makes sense that we must Cautiously Ride the Coattails of the Crooks Operating this Market!


The PVSRA Template(s) and Indicators
At the bottom of Post #1 you will find the latest available zip file containing the sample template and supporting indicators for both black and white charts. Download the zip file. Extract it to yield the two folders for black and white charts which contain the files for the indicators and templates. Paste the indicator files into the MT4/MQL4/Indicators folder. Be sure the indicators go into the MQL4/Indicators folder. Access this folder from the opened MT4 platform by clicking on File/Open Data Folder/MQL4/Indicators. If your operating system is Windows 7 or 8 and you have difficulty with the indicators/templates, right click on MT4 icon -> properties -> compatibility win xp sp3. Paste the template files into the MT4/Templates folder. Restart your MT4 application.

Warning! Do Your Homework! - For information on the use of indicator basic features, definitions and changes from previous versions, read the User Notes at the top of the code of each indicator. The User Notes are there to instruct, inform and avoid having to repeatedly answer the same questions from "newbies". Therefore, be hereby advised! Read the User Notes and experiment with the External Inputs of these indicators instead of asking questions! You can read the User Notes after the indicators are installed into MT4. In the main MT4 window there is a yellow icon representing a manual. Click on it to open the MetaEditor, where you will find a list called the Navigator that contains a file called Indicators wherein you will find our indicators. Double click on any of our indicators in that list and the code for it will appear in the MetaEditor window. You will find the User Notes at the top of the code. A brief summary follows.

#1 Trade Levels - This indicator replaces the need to display the MT4 build-in trade level lines, which clutter the chart and cannot be customized. Our indicator displays trade entry points and levels, the level for the average of all EPs (permits variable sizes), and the levels of your TP and SL. Lines are color coded, include labels (including a Profit/Loss label), and make for a cleaner chart while providing much better information to help you manage your trade.

#2 Access Panel - This indicator gives you access to a number of charting features, including a Clock, special Bid and Ask lines, the display of Levels, "Natural" Fibos, time zone adjustable Pivots, Range H/L marks for the day and week, special vertical day Separators and vLines that mark the start-end of important markets during the day. Take note that some of the features mentioned here you will find turned "Off" on the sample templates. You will have to use the External Inputs provided to turn them "On. This indicator has many External Inputs for customizing. Daylight Savings Time considerations are fully automatic. A proper chart display is not dependent on live data feed. However, this indicator has a critical setup procedure users must follow, so read the User Notes!

#3 FFCAL Panel - This indicator lists up to four coming events that can affect market volatility, using prioritizing code for best assurance of "early warning."

#4 Trend Suite - This indicator provides a variety of ways you can display a moving average line: a dot filled band, a simple line or multiple lines, and a solid colored configuration. By default, this is set to draw a 50 EMA, a good choice replacing the need to display more than one moving average line.

#5 Candles Suite - This indicator draws PVA (Price-Volume Analysis) bars, candlesticks and candle bodies, as well as standard bars, candlesticks and Heiken-Ashi candles. An alert option signals when a "Climax" PVA situation exists.

#6 Volumes Suite - This indicator draws a PVA (Price-Volume Analysis) volumes histogram or a standard volumes histogram in the first chart subwindow. An alert option signals when a "Climax" PVA situation exists.

Acknowledgements - I wish to express my sincere appreciation of the following individuals whose efforts make our indicators the superlative indicators that they are. We owe a debt of gratitude to them for their work:
"caveman" - for his generous contribution to TzPivots coding back in the early days of the THV thread, and which has been carried forward since.
"pips4life" - for his excellent Clock which is the basis for our Clock, and for controlling our market vLines and TzPivots thru Daylight Savings Time shifts.
"qFish" - for substantial and critical code in our Trade Levels indicator, Chart Scale code in our Trend/Candles/Volumes Suite indicators and work on FFCal.
"deVries" - for recoding the handling of files in our FFCal indicator so it would run properly on MT4 Build 600+.
"atstrader" - for a feature added to FFCal, and for recent additional modification of the file handling code.

Sample Templates - The sample templates (for both black and white charts) are just a start. Many different templates can be created by changing the External Inputs of the indicators and re-saving with a different name. This is the recommended way to customize for yourself. Do not try to customize any chart but the sample templates provided. You can run into serious problems you are not aware of due to the complexities involved in how the order of our indicators affect the proper displays of the others, and in how certain MT4 chart properties are set! .

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Aims Fx Forex System - forex trading tips of success

Aims Fx Forex System ~ forex trading tips of success

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Element FX – Very Powerful Forex System - trading forex in the asian session

Element FX – Very Powerful Forex System ~ trading forex in the asian session

Element FX – Very Powerful Forex System

 

These names are inspired by a few of the most powerful elements that exists today. Earth and Fire. Of course Earth Signal is too vague to keep as a name. Individually they are powerful. When combined, they are VERY powerful.

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Black King Forex System - forex trading tips live

Black King Forex System ~ forex trading tips live

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