Momentum Trading with the Wave and Chart Patterns

It was only after I embraced market cycles that I truly began to understand what to do with all the "lines and levels" I had learned to draw on my charts. Early on as I began teaching myself to trade in the late 1980's to early 1990's, there were not many books available to read about the subject of charting. I found myself gravitating towards price (instead of news) because my mother was a bit of a market timer (although not trained nor conscious that she was indeed market timing).

EUR/USD: Euro breaks above 1.3300 and trades at intra-day high

FXstreet.com (Barcelona) - The Euro is picking up strength and after bouncing at 1.3220 has broken above the upper side of the flat trading range, at 1.3300 reaching levels around 1.3320 at the moment of writing; 0.75% above its opening price.On the upside, the Euro could find resistance at at 1.3300 and above there, 13325/30 and 1.3385 (Apr 30 high). On the downside, next support lies at 1.3210/20 and below there 1.3190 (Apr 30 low) and 1.3160/65.EUR/JPY rally from 124.36 loww on April 28 has extended above 132.00 and the Euro has reached a fresh two-week high at 132.40. Resistance levels stand at 132.45 and 132.60/85. On the downside, below 132.00, next support levels come at 129.75 and 128.95.

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QUOTE

With the technical analysis for currency trading, you note it as short-term (intraday). For example, with the euro, your comment is:1,5717. EUR USD broke 1,5700 resistance. EUR USD is in a consolidation after the last bullish movement. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should find a resistance below 1,5740. If the resistance is broken then the target will be 1,5850.Is the bullish pressure on euro just for that day (4/4) or a longer term, say several days to one week? I am just euro as an example. I would like to know how to interpret your forex analysis in general

Articles and Reviews

The Alpari Group, an online provider of Forex trading, is planning to expand globally and add derivatives and commodities on the heels of seeing daily trade volumes exceed $60 billion last year. Alpari U.S. will expand into Brazil and British Columbia, while Alpari U.K. has plans to grown in Japan and Singapore. Additional expansions are currently being discussed. Alpari U.S. also plans to offer futures and precious metals trading this year, with Alpari U.K. planning to launch futures, financial futures, and precious metals trading, said Andrey Vedikhin, co-founder.

Oil N' Gold Focus Reports

WTI crude oil continues to trade below 50 in European session. Although we have been saying that upside for oil price is limited due to weak fundamentals, decline these 2 days was brought by reversal in market sentiment. The black gold's recent rally was driven by improved confidence that global economy will recover in 2H09 but the outbreak of swine in Mexico may potentially delay it.
In our opinion, the negative impact from the flu on oil price may not be as serious as the market anticipated. As many investors compare the current situation with the SARS in 2002, we would like to look back and see what had happened at that time.

What is the Forex toolbar?

The Forex toolbar is a free resource provided by our team. It will be added to the top of your Internet browser, just below where you type in the addresses of websites you wish to visit. It contains a variety of useful trading functions as detailed below:
What is on the free toolbar?
Scrolling Forex news feed
This scrolling Forex news feed will display the latest headlines from a selection of top trading news websites including FXStreet and GFT. With breaking news as it happens you will be able to trade like a professional without ever having to leave your trading platform.

kinds-of-forex

Spot Market. Currency spot trading is the most popular foreign currency instrument around theworld, making up 37 percent of the total activity (See Figure 3.1). The features of the fast-paced spotmarket are high volatility and quick profits (as well losses). A spot deal consists of a bilateral contract whereby a party delivers a specified amount of a givencurrency against receipt of a specified amount of another currency from a counterparty, based on an agreedexchange rate, within two business days of the deal date. The exception is the Canadian dollar, in whichthe spot delivery is executed next business day. The two-day spot delivery for currencies was developedlong before technological breakthroughs in information processing. This time period was necessary tocheck out all transactions' details among counterparties. Although technologically feasible, thecontemporary markets did not find it necessary to reduce the time to make payments. Human errors stilloccur and they need to be fixed before delivery.

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Long term signals for 6 currency pairs: EURO/USD, USD/CHF, GBP/USD, USD/JPY, EURO/JPY, GBP/JPY. READ MORE
11 currency rates: EURO/USD, USD/CHF, GBP/USD, USD/JPY, AUD/USD, GBP/JPY, GBP/CHF, EURO/CHF, EURO/JPY, EURO/GBP, CHF/JPY.We can provide any other currency pairs upon your request. Please contact: info@worldforex.org
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Welcome to Forex Signals

Welcome to a truly equitable entrance and exit signal service for forex currency trading. From now on you can use our system to trade on the currency market via the internet with the best possible results.
WHAT IS FOREX ?F O R E X is the biggest foreign exchange market in the world, originally created for the big players like banks, investment funds, corporations and other financial institutions. Today, however, recent advances in Internet technology and the development of Internet currency trading systems have made this market accessible to everyone.

List of Online Mathematics Courses for Engineering and Mca Students

you feeling burden of learning mathematics, Yes then here are the list of great online course of engineering mathematics. This course will definitely made your engineering and MCA easy. Mathematics is the tool specially suited for dealing with abstract concepts of any kind and there is no limit to......

Forex Trading Mathematical Algorithms - Finding the Best for Long Term Consistent Profits

As computers and software applications have become more powerful, traders develop complex mathematical algorithms to help them increase profits and decrease risk. Let’s take a look at them in more detail…The first point to consider is this - in the last 30 years of trading the number of traders who lose (95%) and the number who win (5%), has remained the same over the years DESPITE all the advances we have seen in technology. This leads to a compelling conclusion; the appliance of complex, mathematical equations to Forex has not helped increase the number of winners. Odds and Certainties The reason it has not helped is that Forex markets cannot be predicted with mathematics, because they are simply an odds based market and don’t move to any mathematical equation and if something doesn’t move to a mathematical objective equation you won’t make money with mathematics! This doesn’t mean you can’t make money, you can but you need to think simple rather than complex, as simple systems are better for trading the odds. Simple Systems Work Best Simple systems work best in Forex trading and always will because they are more robust than complex ones have fewer elements to break and when you are trading odds not certainties that’s all you need. A System with 1 Rule that’s Made Countless Millions I knew a trader once who make a million dollars with a 1 parameter system based on standard deviation and I have used another system outlined below which has worked for 20 years and made me and other traders huge profits. This one is called the 4 Week rule by trading legend Richard Donchian - here is the rule.

Forex

Forex Trading Automated Systems OutlookDailyFX+ System Trading Signals – Momentum2, Breakout2, and Range1 trading strategies remain as our top performers in the past 60 days of trade. We are nonetheless mindful that that Momentum2 and Breakout2 trades may underperform if currencies begin trading within wide ranges. The US Dollar breakout clearly bodes well for these key strategies, but there remains clear resistance in the way of further USD appreciation. Of note in the EUR/USD, the 1.2940 mark represents the 61.8 percent Fibonacci retracement of the 1.2430-1.3750 advance. If it drops below said level, a return to 1.2430 seems likely.It will nonetheless be important to monitor US Dollar pairs through the near term and manage our trading biases accordingly. For the moment, we favor Momentum2 trading signals. Yet we remain mindful that low volatility will set up better range trading opportunities.

Forex: USD/CHF back to 1.1700 after reaching 1.1743, 4-weeks high

FXstreet.com (Barcelona) - USD/CHF is back close to 1.1700 level after reaching a fresh 4-weeks high at 1.1743. Currently, the pair is trading around 1.1695/1.1705, 0.10% increases from today's opening price.According to Valeria Bednarik, FXstreet.com collaborator, bullish bias remains intact: "Bullish strength remains intact in the pair, and the pair is consolidating close to today’s high, moving since past Asian opening in a tight range. Above 1.1716 that continues to be today’s high, also a previous weekly high and the pair could continue dominant trend. Indicators turned flat due to last hours consolidation, no clear sign from there. Under 1.1645 zone, some selling pressure could be seen."

Brazil Govt Oks BRL4 Bln Credit For States To Face Slowdown

Brazil Govt Oks BRL4 Bln Credit For States To Face Slowdown BRASILIA (Dow Jones)--Brazil's National Monetary Council in an extraordinary meeting late Friday approved 4 billion reals ($1.83 billion) in credit for state governments, the central bank said Monday. The loans, to be extended by the country's BNDES national development bank, will carry an interest charge of Brazil's TJLP long-term interest rate plus 3% annually. The TJLP interest rate is currently set at 6.25% annually. The loans come with a repayment period of eight years following a one-year grace period. According to the government, the loan funds must be used for investments and cannot be applied toward current spending. The extension of the loan funding for states comes following the approval of BRL1 billion in federal loans for cities last week. Brazil's states and cities have seen a decline in tax revenue over recent months following a deceleration of the country's economy. The National Monetary Council is Brazil's highest ranking economic decision-making body. -By Gerald Jeffris, Dow Jones Newswires; (5561) 3335-0832, gerald.jeffris@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=MnB3XRVmzONaVN%2BYqC6tLw%3D%3D. You can use this link on the day this article is published and the following day.