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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Using the Magic Bands Trading Strategy on Daily Charts - best forex trading advice

Using the Magic Bands Trading Strategy on Daily Charts ~ best forex trading advice

The Magic Bands trading strategy can be applied to daily or weekly charts as well as scalping charts.

It needs only a minor change which is not completely necessary. There is another indicator called the ribbon which adds a bit of colour to the chart as well as denoting momentum. The ribbon expands as momentum builds and that may be useful for some traders as they inspect their charts to look for entries.

The chart may also be enhanced by the Gator oscillator which shows the momentum, that is optional and is not necessary to use this trading system effectively.

Of course, on a longer chart a person will want to include a trailing stop as the position may last for several days or weeks as shown in the USDJPY chart below. You can see that the long entry lasted for several weeks.

Here is a chart of the Dax Index and on it you can see some great entries as that index has been climbing steadily for several months until this past summer. Once again this simple trading strategy has been able to bring significant profits with a minimum of maintenance to the portfolio.

There are many Forex pairs and Stocks and Indexes that have long trends and are quite well suited to this trading strategy. It requires only a few minutes a day to review a sizable portfolio to do what ever maintenance and entries are required.

To locate instruments that may be suitable for this type of system a person needs only do a scan for trending stocks or currency pairs and there are many to choose from. Probably those with some volatility would appeal to many investors.

The indicator settings  can be found on this page Magic Bands Scalp Trading Strategy along with some other information.

One more chart that I have here for you to glance at is that of Sweet Light Crude, you can easily see that a trend following  strategy would have reaped excellent profits in the past eighteen months.

Be sure to use a trailing stop with this system as the markets are completely unpredictable.

Good Trading..!

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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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Magic Bands Scalp Trading Strategy As As November 21 (updated) - alerts for forex trading

Magic Bands Scalp Trading Strategy As As November 21 (updated) ~ alerts for forex trading

There was good volatility in the Forex markets today and some excellent opportunities using this simple strategy.

Lets review a couple charts.

First is AUDUSD, you can see a nice move up and then a gradual move down, two simple entries for profit.

Next is EURGBP. There was a nice bearish entry and then another on a retrace. It is important to  be sure that there is a slope on the 15 Bollinger Band and preferably on both sets of Bollinger Bands. This will keep you out of the chop.

GBPUSD. There were a couple bear entries, the second one being after a retrace. Once those two were finished, the next couple  of the potential entries were suspect based on the slope of the BB lines.

I have several more charts below, that you can observe..... note that the best entries have a good slope on the Bollinger Bands.

USDCHF Once the long move finishes the Bollinger Bands flatten out.. close the trade and look for another trade, avoid consolidations and ranging markets with this system. There are many opportunities daily with this system on different currency pairs

On the AUDCHF, once the price retraces to the 50 Bollinger Bands, it is time to get out of this pair and look for another pair to trade. There is no value to trading in the choppy market, it usually ends up in a loss.

CADCHF  Once the long entry retraces.... get out of this pair and look for another entry on another pair...  Stay away from the consolidation periods!

As mentioned, most important is the slope of the Bollinger Bands. There are enough entries available on different pairs that we can pick and choose and be selective as to the entries we take.

In order to be able monitor several pairs for trade opportunity I have a moving average crossover alert set for the 15 crossing the 50, That allows me to be aware of what is happening on different currency pairs as the day passes.

Again, a stop loss is important in this type of trading, I use a trailing stop as well.

Next week we will probably see more volatility in the markets and many resultant opportunities for this simple trading strategy.

Good Trading..!!

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Magic Bands Scalp Trading Strategy as at November 17 (updated) - forex trade alert service

Magic Bands Scalp Trading Strategy as at November 17 (updated) ~ forex trade alert service

With some volatility in the currency markets today there were many opportunities for profits on the 5 minute charts using the Magic Bands Scalp Strategy.

I have prepared a brief video showing potential trades that occurred today.

Magic Bands is a simple trend following strategy using Bollinger Bands and a Bollinger Bands Stops indicator.

The Magic Bands Scalp Strategy is excellent for Forex trading due to the trends in Forex currency pairs.









More information re Magic Bands Scalp Strategy
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Magic Bands Scalp Trading Strategy as at November 16 (updated) - forex income engine trade alert software

Magic Bands Scalp Trading Strategy as at November 16 (updated) ~ forex income engine trade alert software

To demonstrate the Magic Bands Scalp Trading Strategy I have a few pics of Forex charts taken a few bars after the open and  you will be able to see how several pairs opened.

There were several opportunities for entries with this system as you will easily see as you look at the video.











Some information on the Magic Bands Trading  System on this post

Good Trading!
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Magic Bands Scalp Trading Strategy as at November 23 (updated) - forex trading signal alerts

Magic Bands Scalp Trading Strategy as at November 23 (updated) ~ forex trading signal alerts

The Magic Bands Scalp trading strategy will do well again this week for trend traders who are patient enough to find a trending market.

The tip off to a trade entry for this system is the crossing of the 15 BB and the 50 BB.

Probably a trader will want to have several charts open so as to be able to be in the market as different  currency pairs are trending at different times throughout the trading day

I have three charts below from Friday past.

Entries are best in the Magic Bands scalp system when there is a slope to the trend lines, the Bollinger Bands.

Personally I do my best to avoid the choppy periods with no slope to the lines..... I have had terrible experiences trading in chop. lol

Good Trading..!

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