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analyst75

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  1. Daily analysis of major pairs for September 18, 2017 The USD/JPY went bearish in the first week of this month and then went bullish last week. The market is bearish in the long-term and bullish in the short-term. This week, price could go further upwards by another 100 pips, but further bullish movement would be rejected, owing to a bearish expectation on JPY pairs for this week. EUR/USD: There is short-term neutrality on the EUR/USD - although the long-term bias on the market is bullish. The short-term neutrality on the market would end as price goes upwards by about 150 pips or goes downwards by about 150 pips from here. USD/CHF: This pair is bearish in the long-term and neutral in the short-term. For a directional movement to start, price would either need to go below the supply line at 0.9500 (staying below it); or price would go above the resistance level at 0.9700, causing a bullish signal to be generated. A movement below the support level at 0.9500 would strengthen the overall bearish outlook, while movements between the support line at 0.9500 and the resistance line at 0.9700, would perpetuate the ongoing neutrality in the market. GBP/USD: This currency trading instrument has gone upwards seriously, gaining about 680 pips within two weeks (the movement last week was the strongest). There is a huge Bullish Confirmation Pattern in the market, which portends further bullish movement. This week, the distribution territories at 1.3600, 1.3650 and 1.3700 could be seen. There could be pauses and transitory bearish corrections along the way. USD/JPY: The USD/JPY went bearish in the first week of this month and then went bullish last week. The market is bearish in the long-term and bullish in the short-term. This week, price could go further upwards by another 100 pips, but further bullish movement would be rejected, owing to a bearish expectation on JPY pairs for this week. EUR/JPY: The EUR/JPY went upwards from the demand zone at 130.00 to test the supply zone at 133.00 (a gain of 300 pips). The supply zones at 132.50, 133.00 and 133.50 would be reached this week before there is a turn in the market, which would harbinger a southwards movement, which would result in a bearish bias. On Friday, price closed below the supply zone at 132.50, after testing the supply zone at 133.00. Performed by Azeez Mustapha, Analytical expert www.instaforex.com InstaForex Companies Group
  2. Weekly Trading Forecasts for Major Pairs (September 11 - 15, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish The pair went upwards last week, gaining about 200 pips. Price moved briefly above the resistance line at 1.2050, and then closed below it on Friday. There is a strong bullish outlook on EUR pairs this week, and therefore, the pair is supposed to continue to go upwards, gaining at least, another 200 pips. There would be pauses and occasional corrections along the way, but the movement this week would generally be bullish. USDCHF Dominant bias: Bearish USDCHF is bearish, both in the long-term and the short-term. Price went downwards by 150 pips, tested and breached the resistance level at 0.9450. The pair is now under the resistance level at 0.9450, targeting the support levels at 0.9400, 0.9350 and 0.9300. USDCHF cannot be expected to rally meaningfully as long as EURUSD is strong. Therefore, the bias is bearish for this week, and long trades are not currently rational. GBPUSD Dominant bias: Bullish GBPUSD has become bullish after rallying by more than 280 pips last week, testing the distribution territory at 1.3200, and closing slightly below it. There is a Bullish Confirmation Pattern in the market and price is thus expected to continue going upwards this week, reaching the distribution territories 1.3250, 1.3300 and 1.3350. These distribution territories may even be exceeded as price moves further upwards. USDJPY Dominant bias: Bearish This currency trading instrument dropped about 210 pips last week, testing the demand level at 107.50 and closing above it. Since the high of July 11, price has dropped 660 pips and there is much room to drop more. Nonetheless, the outlook on JPY pairs is bullish for this week, and while the demand levels at 107.00, 106.50 and 106.00 could be reached, there is also a high possibility of a strong rally before the end of the week. EURJPY Dominant bias: Neutral Unlike USDJPY, this cross rather consolidated last week, refusing to assume a bearish movement. One reason behind this is the fact that EUR is strong in its own right and its strength versus strength of JPY are almost equal (hence the short-term equilibrium phase in the market). Price is going to move out of balance this week, as JPY becomes weaker eventually, allowing this cross to rally massive before the end of the week. GBPJPY Dominant bias: Bearish This trading instrument is bearish in the long-term, but neutral in the short-term. Price has done nothing except to zigzag upwards and downward. The market environment is quite choppy and it would be better to wait until it either goes above the supply zone at 142.60 (staying above it); or it goes the demand zone at 141.10 (staying below it). Until one of these two conditions are met, price would remain directionless in the short-term. The most probable direction this week is towards the north. This forecast is concluded with the quote below: “How often you win isn’t important. How much you win is.” – Rayner Teo Source: www.tallinex.com
  3. Weekly Trading Forecasts for Major Pairs (September 4 - 8, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish EURUSD is bullish in the long-term and bearish in the short-term. Price went upwards on Monday and Tuesday, testing the resistance line at 1.2050. After that, a serious bearish correction took place as price went down by roughly 200 pips after the aforementioned resistance line was touched. This week, any rallies would meet a strong opposition at that resistance line of 1.2050. On the other hand, price may also target the support lines at 1.1850 and 1.1800. USDCHF Dominant bias: Neutral This pair has been consolidating for 5 week – hence the current neutral bias on the market. Price has oscillated between the support level at 0.9450 and the resistance level at 0.9650. For the current neutral bias to end, there is a need for price to either cross the resistance level at 0.9750 to the upside or move below the support level 0.9450, staying below it. Either of this is expected to happen this week, for there would be a rise in momentum. GBPUSD Dominant bias: Bearish GBPUSD is bearish in the long-term, though it consolidated throughout last week. There is an expectation of some bearish movement this week, which may make price test the accumulation territories at 1.2900, 1.2850 and 1.2800. However, given the current price action, some bullish effort may enable price to go upwards by around 100 – 150 pips, but the upwards movement would be limited. USDJPY Dominant bias: Bearish USDJPY us generally bearish, but the recent bullish effort has resulted in a threat to the bearish trend. Last week, price tested the demand level at 108.50 and then bounced upwards, reaching the supply level at 110.50. On Friday, the market closed above the demand level at 110.00, and this has become a threat to the bearish outlook on the market. A movement above the supply level at 111.00 would result in a bullish bias; while a movement below the demand level at 109.00 would lay more emphasis in the overall bearish outlook. EURJPY Dominant bias: Bullish This cross pair went upwards last week to test the supply zone at 131.50. After that, price got corrected lower, closing below the supply zone at 131.00. However, there is still a Bullish Confirmation Pattern in the market, which cannot be rendered invalid unless price drops by 200 pips from its current location. The movement of the market for this week would largely be determined by whatever happens to Yen. GBPJPY Dominant bias: Bearish Over the long-term, GBPJPY is bearish, but a bullish signal has been generated in the 4-hour chart. The bullish signal was brought about by the fact that price gained about 230 pips last week, leading to a bullish outlook of this week. Further weakness in Yen may enable the supply zones at 143.50, 144.00 and 144.50, to be tested this week. Nonetheless, any display of stamina by Yen would impede the expected bullish movement. This forecast is concluded with the quote below: “…The real Holy Grail in trading is proper risk management. All of the successful traders I know follow a few specific, even conservative, risk management rules.” – Rick Wright Source: www.tallinex.com
  4. Weekly Trading Forecasts for Major Pairs (August 28 – September 1, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is neutral in the short-term, but bullish in the long-term. Price moved sideways from Monday to Thursday, and then broke upwards on Friday. Price gained roughly 150 pips that day, closing above the support line at 1.1900. The bullish movement could take price towards the resistance lines at 1.1950 and 1.2000. The resistance line at 1.2000 would try to impede any bullish movement beyond it, for the outlook on EURUSD is bearish for this week (following some visible bullish effort). USDCHF Dominant bias: Neutral USDCHF is bearish in the long-term, and neutral in the near-term. The market consolidated mostly last week, save for the bearish breakout that was witnessed on August 25. Since the movement of this pair is dictated by whatever happens to EURUSD, it is expected that further downwards movement would be witnessed as long as EURUSD goes upwards. This can enable price to go below the support lines at 0.9550 and 0.9500, thus ending the ongoing near-term neutrality. A sharp drop in EURUSD price would bring about a meaningful rally on USDCHF. GBPUSD Dominant bias: Bearish Since the beginning of this month, GBPUSD has lost about 450 pips, going southwards. There is a Bearish Confirmation Pattern in the market, which could not be threaten by the rally that took place at the end of last week. In fact, the rally would act as a good opportunity to sell short at slightly higher prices, for the outlook on GBPUSD is bearish for this week. In September, GBP pairs would be mostly bearish (though some rallies would be witnessed in certain cases). USDJPY Dominant bias: Bearish This trading instrument was caught in an equilibrium phase last week – though the major outlook on the market is bearish. The weakness in USD has prevented a meaningful rally in the market, and bullish effort would continually be thwarted as price goes further downwards. Further bearish movement is anticipated this week, for the demand levels at 109.00, 108.50 and 108.00 would be aimed. Rallies should either be ignored or approached with caution. EURJPY Dominant bias: Bullish Both in the short-term and the long-term, this cross is bullish. Some conspicuous rally attempt was started at the beginning of last week, and that culminated in a strong rally that was seen on Friday, as price closed at 130.45. A “buy” signal has already been generated, and that may enable price to go upwards by another 200 pips this week. However, the outlook on JPY pairs is bearish for this week and for September, and thus, whatever goes up on EURJPY cross will eventually come down. GBPJPY Dominant bias: Bearish GBPJPY was quite choppy in July. Nonetheless a smooth bearish movement began in August, and price has been going steadily southwards since the beginning of the month, losing 700 pips. On Thursday and Friday, some bullish correction was seen, but that has paled into insignificance when compared to the overall bearish bias on the market. This week, price is supposed to continue its bearish movement. The demand zones at 140.50, 140.00 and 139.50 would be reached. They may even be exceeded. This forecast is concluded with the quote below: “Trading is a collaborative endeavour between you and the market. The market offers up opportunities on a regular never ending cycle and you decide what you will do with these opportunities. There is no enemy in this transaction; it is a symbiotic relationship and a failure to accept this is at the root of many of the problems that traders have.” – Chris Tate Source: www.tallinex.com
  5. “One thing very good traders have is insight into themselves.” - Chris Tate FUN AND GAMES Recently Louise Bedford and I have been doing the Short Term Trading Magic seminars in a few places and it has been sometime since I did any form of presentation on a semi regular basis. As such it has been interesting to observe people as they work through various trading issues. One of the things I have noted is that people take trading far too seriously and this is reflected in a form of desperation. Desperation is the antithesis of the state of mind you need to be in to trade effectively. There is no deny that this is a phase everyone enters at some stage in their career but to be successful you need to move beyond this and begin to treat trading as the game that it is. Once I started treating trading as a game then it became so much easier on the soul and my results reflected this. I even have a t-shirt that says that the fewer fucks I give the more I make. This is not to say that I am reckless but rather that I am in no way wedded to the outcome of any trade. At its core my life will not change if a trade or even a cluster of trades are winners or losers – they are simply not that important. When compared to real life, trading is nowhere near as important as people think it is. It is often commented that children are better are learning new things than adults who seem set in their ways. I am not so certain that this is a reflection of any great cognitive superiority or plasticity that the young may have but rather a reflection of their willingness to be both wrong and to play. Young children have no ego therefore the mistakes that their play generate have no impact upon their sense of self-worth. As adults we lose this resilience because we believe that it is somehow catastrophic to our self-image if we do make mistakes. But in trading your mistakes are your own – no one else can see them so you are insulated from the judgment of others. This isolation gives you the freedom to be wrong but the only thing you have to cope with is your own judgment. Markets are a wonderful universes for exploration and for play. The presence of micro contracts in various instruments and online trading mean that you experiment very cheaply. The price of admission to the fun park is much lower than it used to be and the number of rides has gone through the roof. It is a shame that more traders don’t view trading as little more than a theme park where you can play to your heart’s content and during the process of playing you learn much more than you would if you were consumed by seriousness and desperation. Author: Chris Tate Article reproduced with kind permission of: http://tradinggame.com.au/ More trading quotes are below: “To my way of thinking trading is an internal endeavour – there is no external enemy who you can deceive or overpower since markets only exist in the most ephemeral way inside your head. Markets may appear to be physical constructs but they are largely an illusion, trading occurs inside your head where your own perceptions and distortions of reality influence your decision making.” – Chris Tate “The one thing you shouldn't feel pressured about is trading. If you do feel that way, you probably need to take a step back and reassess. Pressured trade(r)s don't make good trade(r)s.” – Joe Ross www.tallinex.com wants you to be a successful trader
  6. Weekly Trading Forecasts for Major Pairs (August 21 - 25, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is bullish in the long-term, but neutral in the short-term (for price has been going sideways for about two weeks). Price has been moving to and fro, within the resistance line at 1.1850 and the support line at 1.1650. As long as price moves to and fro within the resistance and support lines, the short-term neutrality would hold out. A movement above the resistance line of 1.1850 would make the long-term bullish bias more conspicuous, while a movement below the support line of 1.1650 would result in a bearish outlook. A movement below the aforementioned support line is more likely, owing to the expected weakness in EUR this week. USDCHF Dominant bias: Neutral USDCHF has become a neutral market, as it has not assumed a protracted directional movement since early August. For a directional movement to start, there is a need for price to go above the resistance level at 0.9750 (thus creating a Bullish Confirmation Pattern), or the price would go below the support level at 0.9600 (thus creating a Bearish Confirmation Pattern). A movement to the upside is more likely this week, owing to an expectation of weakness in CHF and strength in USD. GBPUSD Dominant bias: Bearish This market went downwards last week, testing the accumulation territory at 1.2850 several times, but not able to breach it to the downside. The outlook on GBP pairs is bearish for this week, and for this, the bearish journey on GBPUSD would continue as the accumulation territory at 1.2850 is breached to the downside. The next targets would be accumulation territories at 1.2800, 1.2750 and 1.2700. USDJPY Dominant bias: Bearish From August 14 to 16, there were bullish attempts in this market, as price went upwards by 160 pips, almost reaching the supply level at 111.00. From the high of last week (110.93) price went down by 220 pips, moving briefly below the demand level at 109.00 and then closing above it on Friday. The bearish journey may continue this week, and therefore, the demand level at 109.00, 108.50 and 108.00 could be the next targets. EURJPY Dominant bias: Bearish What happened on EURJPY last week was nearly similar to what happened on USDJPY. In the first few days of last week, price rallied in the context of a downtrend, testing the supply zone at 130.00 and then dropping smoothly by 200 pips, to test the demand zone at 128.00. Price has closed above the demand level at 128.00, but it is likely that it would test it again – probably breaching it to the downside - as it ontinues to go southwards this week. This forecast is concluded with the quote below: “20+ years ago I knew I wanted to live life on my terms, I just didn’t know how to create the income that would allow that. That desire drove my focus on trading and still does today.” – Sam Seiden, Source: www.tallinex.com
  7. Weekly Trading Forecasts for Major Pairs (August 14 - 18, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is bullish, though it only consolidated last week, moving between the support line at 1.1700 and the resistance line at 1.1850. A movement above the aforementioned resistance line would put more emphasis on the bullish bias, while a movement below the support line could result in a threat to the bullish bias. On the other hand, further consolidation for the next several trading days would bring out a neutral bias on the market. No matter what happens this week, EUR would be seen going upwards versus certain currencies like AUD and NZD. USDCHF Dominant bias: Bearish This is essentially a bear market, although there was a bearish effort between July 25 and August 8, it was not enough to override the overall bearish bias. After testing the resistance line at 0.9750, further bullish effort was rejected as price came down by 250 pips, closing below the resistance line at 0.9650 on Friday. This week, the market would endeavor to target the support levels at 0.9550 and 0.9500 (even possibly exceeding it). GBPUSD Dominant bias: Bearish In the context of a downtrend, GBPUSD moved sideways last week. Price oscillated between the distribution territory at 1.3050 and the accumulation territory at 1.2950. A movement below the accumulation territory at 1.2950 would put more emphasis on the bearish mode of the market, while a movement above the distribution territories at 1.3050, 1.3100 and 1.3150 would result in a new bullish signal. This week, GBP also would be seen moving upwards versus certain currencies like AUD and NZD. USDJPY Dominant bias: Bearish From the August high of 114.47, this trading instrument has dropped by 550 pips, testing the demand level at 109.00, and closing above the demand level on Friday. There is a strong Bearish Confirmation Pattern in the market, and thus, it is logical to conclude that price would continue going downwards this week, aiming at the demand levels of 109.00, 108.50 and 108.00. There could be transitory upward bounces along the way. EURJPY Dominant bias: Bearish The long-expected bearishness on EURJPY is here. Last week, price dropped 250 pips, ending the recent neutrality on the market (which was in place for roughly three weeks), and bringing about a bearish bias. On Friday, price bounced upwards, closing slightly above the demand zone at 129.00; thus creating a wonderful opportunity to sell short at a better price, while the outlook on the market remains bearish. This week, price is expected to go lower, reaching the demand zones at 128.50, 128.00 and 127.50 This forecast is concluded with the quote below: “All good traders are also good record keepers. If they win a trade, they want to know exactly why and how… Traders who win consistently treat trading as a business.” - Matt Blackman Source: www.tallinex.com
  8. “One of the things that amazes me most about trading is that the longer I do it the more I admit that I don’t know. For a very long time I have been convinced that I have no idea where the price of instrument is going. I certainly know a lot about market dynamics, the history of markets (which is something everyone should study) and about my own reactions to events. But I have sold all idea about where the market is going. Granted I can create a narrative in my own head to justify my own positions but at the end of the day I simply make a bet on the direction of an instrument and I am consciously aware of my own behavioural short comings.” – Chris Tate (an expert veteran of the markets, more than 30 years of experience) Anyone can learn to be a trader – but making a success of it involves more than just pushing Bid and Ask buttons. You need good strategies that will allow you to deal with the vagaries of the market. It’s no secret that the majority of traders lose. But some succeed and become rich, even super-rich. These are the super traders. Insights into the Mindset of Super Traders reveals the life stories of 20 selected master traders: how they think, how they view the markets, and how they make their fortunes. The book gives an overview of their careers and explains what lessons can be drawn from their success. “THREE QUESTIONS TRADERS WOULD LIKE TO ASK RIGHT NOW.” Why is trading so difficult? Answer: What makes trading appear very difficult is the fact that the market can never be predicted. When we predict, we’re sometimes wrong or right. However, having an impression that the market can be predicted is the single most important reason why most traders end getting frustrated. No matter the analytical method you use (Monte Carlo, Neural Networks, Horology, robots, Gann, news, Ichimoku, etc), you can’t predict the future. Your frustration will continue as long as you think you can predict the market. Once you admit you can’t do this, your frustration ends, because you’ve aligned yourself with the reality in the market. What benefit can I get from trading? Answer: Freedom. Freedom is everything. You master your financial destiny, growing richer and richer gradually. Very soon, you’ll realize that trading is the best vehicle for financial freedom; plus the greatest game on earth. Sadly, many people don’t believe this fact. How can I experience permanent success in the markets? Answer: You will attain permanent success once you devise a way to make money in the market without being able to predict the market – without knowing what the market will do next. This kind of strategy isn’t hard to devise. You’ll then see each new trade as a potential loser until you’re proven otherwise. This mindset will enable you to activate stops and use a small position size. You’ll know trading is simply a game of probability and with a good RRR, the odds will eventually come in your favour. This is what’s called positive expectancy. With this simple approach, you’ll no longer see trading as difficult. More importantly, you will attain permanent success without the ability to know the future, which begins from your mind. This piece is ended with 2 quotes: “Talking about trader psychology may stir intellectual debate, but the real work of trader psychology is about re-working the beliefs are you projecting onto the markets about your capacity to manage uncertainty (with your trading account as the arbiter). Simply being knowledgeable is never enough. It is the hard, but satisfying, work of examining the beliefs that drive your performances in trading that matter.” - Rande Howell “The complete trader is able to combine all or parts of the above approaches with his own style. Trading mastery combines observation, scientific knowledge, good judgment, intuition, and creative instincts with decisive action.” – Joe Ross Tap the secret here (almost free of charge): http://www.advfnbooks.com/books/insights/index.html www.tallinex.com wants you to become a successful trader.
  9. Weekly Trading Forecasts for Major Pairs (August 7 - 11, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair edged higher last week, reaching the resistance line at 1.1900, before the pullback that is currently being experienced. Price has gained more than 1000 pips since early May 2017, and the trend for this year has generally been bullish. The pullback may end up giving a good opportunity to buy long at better prices, in the context of an uptrend (for the outlook on EUR is bullish for this week). Price could thus target the resistance lines at 1.1800, 1.1850 and 1.1900. USDCHF Dominant bias: Bullish A recent weakness in CHF has made USD/CHF go upwards, resulting in the current bullish bias. However, the bullish bias is currently precarious, for price merely consolidated last week, closing above the support line at 0.9700. Further consolidation this week would result in a neutral bias, unless price is able to breach the resistance level at 0.9750 to the upside, closing above it. On the other hand, a movement below the support level at 0.9550 would result in a bearish bias, which may happen in case CHF gathers bullish momentum (a possibility). GBPUSD Dominant bias: Bullish GBPUSD is bullish, but there is a threat to the bullishness. As the market moved in a positive correlation with its EURUSD counterpart, its price was able to go up last week, testing the distribution territory at 1.3250, before there was a considerable pullback on Thursday and Friday. From the high of last week (1.3262), price dropped 210 pips, closing below the distribution territory at 1.3050 (hence the threat to the bullish bias). The threat may increase as price goes further southward, as the outlook on GBP pairs is bearish for this week. The accumulation territories at 1.3000 and 1.2950 could be breached easily. USDJPY Dominant bias: Bearish Here is a bear market, with a clear Bearish Confirmation Pattern in the market. Price has been going southwards in a slow and steady manner, having lost 430 pips since July 11. The market bounced upwards on August 4, but that pales into insignificance when compared to the overall bearish bias. This week, the bearish journey would continue - owing to the ongoing bearish expectation certain JPY pairs. The initial target is the demand level at 110.50, then followed by the demand level at 110.00 which was also tested last week. EURJPY Dominant bias: Neutral The neutrality on this trading instrument continued last week. Price attempted to stay above the supply zone at 131.00, but the attempt proved abortive. Had the attempt succeeded, a bullish signal would have been generated. The weakness that was seen in the last few days of last week has only put more emphasis on the neutrality of the market. One factor preventing a serious bearish movement in this market is the stamina in EUR, and therefore, there may not be a big pullback until EUR undergoes exponential weakness. This forecast is concluded with the quote below: “Be proud you're a trader. A trader is a man who earns what he gets and does not give or take the undeserved. A trader does not ask to be paid for his failures, nor does he ask to be loved for his flaws. A trader does not squander his body as fodder, or his soul as alms. Just as he does not give his work except in trade for material values, so he does not give the values of his spirit - his love, his friendship, his esteem - except in payment and in trade for human virtue, in payment for his own selfish pleasure, which he receives from men he can respect…” - Ayn Rand Source: www.tallinex.com
  10. Weekly Trading Forecasts for Major Pairs (July 31 – August 4, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish EURUSD, which has generally been bullish this year, went upwards by 100 pips last week, testing the resistance line at 1.1750. Some attempts were made to breach the resistance line to the upside, but to no avail. However, the resistance line remains under siege and it may be breached to the upside, as other resistance lines at 1.1800 and 1.1850 are targeted. The outlook on EUR pairs is bearish for this week, but bullish for August 2017; so we may see some considerable correction before the end of the week. USDCHF Dominant bias: Bullish Perpetual weakness in CHF has helped USDCHF to generate a clean bullish signal (most CHF pairs also skyrocketed while the CHF/JPY plummeted). Price gained about 250 pips last week, and it is currently volatile. The market would continue going upwards as long as CHF shows weakness. This is a classical example of when both USDCHF and EURUSD go into a positive correlation; i.e., they both go upwards. The USDCHF normally goes into opposite direction to EURUSD, but this time around, the case is being influenced by exponential weakness in CHF. Price may go further upwards to test the resistance levels at 0.9750 and 0.9800. However, CHF would regain its losses, starting from this week and throughout August; something that would send CHF pairs (including USDCHF) southwards. GBPUSD Dominant bias: Bullish GBPUSD was able to retain its bullishness last week, trying to go upward just like EURUSD has done, since both of them normally go into positive correlation. The distribution territory at 1.3150 was tested repeatedly last week, and it might be breached to the upside this week, as other distribution territories at 1.3200 and 1.3250 are aimed. Although GBP pairs would experience mixed results in August, GBPUSD would not really become bearish as long as it stays above the accumulation territory at 1.2850. USDJPY Dominant bias: Bearish In this market, this month has been bearish so far. Last week was also characterized by bearishness in spite of bull’s desperate effort to push price upwards, which made price tested the supply level at 112.00, before price went downwards to close below the demand level at 111.00. The next target is the demand level at 110.50, which would easily be breached as other demand levels at 110.00 and 109.50 are targeted. The outlook on JPY pairs is bearish for this week and for August. Therefore, long trades are not recommended. EURJPY Dominant bias: Neutral This currency trading instrument has been consolidating for about two weeks, resulting in short term neutrality. A movement above the supply zone at 130.50 would bring about a Bullish Confirmation Pattern in the market; while a movement below the demand zone at 128.00 would result in a bearish bias. This is what is expected to happen within the next several trading days. Nonetheless, bear would eventually become a winner in August. This forecast is concluded with the quote below: “It doesn’t matter how often a method or system wins, what matters is the bottom line: does the method or system make money for you?! If it does, then stick with the bottom line.” - Andy Jordan Source: www.tallinex.com
  11. Weekly Trading Forecasts for Major Pairs (July 24 - 28, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish On EURUSD, bull was the clear winner last week. Price went upwards by 210 pips, breaking the multi-month high at 1.1600 and closing above the support line at 1.1650. Since June 27, price has gained 470 pips, and there is still more room for upwards movement, for price could reach the resistance lines at 1.1700, 1.1750 and 1.1800 this week. Nevertheless, it should be noted that, the more the market goes upwards, the more the chances of a reversal (which could happen before the end of the month). USDCHF Dominant bias: Bearish This pair went down about 200 pips last week, making bear the clear winner. Since May 12, the market has gone down by more than 600 pips, leading to a huge Bearish Confirmation Pattern in the market. On Friday, price went briefly below the support level at 0.9450, and later closed above it. This week, further downwards movement is expected and the support levels at 0.9450, 0.9400, and 0.9350 could be tried. In case USD gains a considerable amount of stamina, there would be an upwards bounce in the market. GBPUSD Dominant bias: Neutral Cable is bullish in the long-term, but neutral in the short-term. Price tested the distribution territory at 1.3100, and then began to be corrected downwards last week, reaching the accumulation territory at 1.2950. A movement above the distribution territory at 1.1300 would help restore the bullish confident; while a movement below the accumulation territory at 1.2800 would result in a bearish bias. A movement between the distribution territory at 1.3050 and the accumulation territory at 1.2900 would keep the short-term neutrality in the market. USDJPY Dominant bias: Bearish There is a bearish signal on USDJPY. Price went southwards by 140 pips last week (having gown downwards by 330 pips since July 11). On Friday, the demand level at 111.00 was tested – it would be breached to the downside this week. Other bearish targets are located at the demand levels of 110.50, 110.00 and 109.50. There is a strong bearish outlook on JPY pairs this week, and therefore, long trades are not recommended on USDJPY. EURJPY Dominant bias: Bullish The bias on this cross is bullish, though price only consolidated last week. Further consolidation can result in a short-term neutrality. One reason why the bullish bias has held out so far is the stamina in EUR itself. This week, there are possibilities that the supply zones at 130.50 and 131.00 can be tested this week. On the other hand, there could be a strong pullback before the end of the week (or the month), owing to a bearish outlook on JPY pairs for the rest of the month. This forecast is concluded with the quote below: “Trading is a great business for those who master it, and those who master it are traders who have mastered themselves.” – Joe Ross Source: www.tallinex.com
  12. INTRODUCTION: Hello Traders. The article below is useful for all areas of human endeavors (including trading). Please read it to discover a great secret today. Read between the lines and see how the facts revealed here aptly apply to trading. ----------------------------------------------------------------- There are, broadly speaking, two ways to see the world and these have a great influence on how successful you become. The first is what psychologists call the “external locus of control,” and the second is the “internal locus of control.” You see… as the world around you changes, you can either attribute success and failure to things you have control over, or to forces outside your influence. And which orientation you choose has a huge bearing on your long-term success. This concept dates back to the 1960s with Julian Rotter’s investigation into how people’s behaviours and attitudes affected the outcomes of their lives. Locus of control describes what individuals perceive about the underlying main causes of events in his/her life. Put more simply: Are you the pilot of your life or you just a passenger? Do you believe that your destiny is controlled by you or by external forces (such as fate, the government, your boss, the system or others)? Here’s how Charles Duhigg—the author of the book Smarter Faster Better describes locus of control: “Locus of control has been a major topic of study within psychology since the 1950s. Researchers have found that people with an internal locus of control tend to praise or blame themselves for success or failure, rather than assigning responsibility to things outside their influence. A student with a strong internal locus of control, for instance, will attribute good grades to hard work, rather than natural smarts. A salesman with an internal locus of control will blame a lost sale on his own lack of hustle, rather than bad fortune. “‘Internal locus of control has been linked with academic success, higher self motivation and social maturity, lower incidences of stress and depression, and longer life span,’ a team of psychologists wrote in the journal Problems and Perspectives in Management in 2012. People with an internal locus of control tend to earn more money, have more friends, stay married longer, and report greater professional success and satisfaction” What is an external locus of control? Well, we all know those people. In fact, sometimes we are those people. Nothing is ever their fault. There is always an excuse. The world is out to get them, life is unfair. Duhigg describes it as follows: “…Having an external locus of control—believing that your life is primarily influenced by events outside your control—’is correlated with higher levels of stress, [often]because an individual perceives the situation as beyond his or her coping abilities,’ the team of psychologists wrote” (24). The benefits of an Internal Locus of Control In general, people with an internal locus of control: Engage in activities that will improve their situation. Emphasize striving for achievement. Work hard to develop their knowledge, skills and abilities. Are inquisitive, and try to figure out why things turned out the way they did. Take note of information that they can use to create positive outcomes in the future. Have a more participative management style. The bottom line: We aren’t born with an unalterable locus of control, so it is critical to keep an eye on in ourselves so we can improve the way we look at the world. Sure, bad things happen to us. But rather than dwelling on them, it’s better to find a useful belief about them and move on. It’s important to remove the idea that your life is dictated by forces outside of your control. Of course, to one degree or another, it is. But there is plenty that we can control. You can create your own luck through study, hard work and perseverance. It’s often said that you become a blend of the five people you hang out with the most. This is important to keep in mind. Associate with positive people who believe they are in control of their own lives. Their beliefs and energy will rub off on you. And then yours will rub off on them. It becomes a very powerful and positive feedback loop! Author: Michael Yardney (a guest blogger at http://tradinggame.com.au) Author’s profile: Michael Yardney is a director of Metropole Property Strategists, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is a best-selling author, one of Australia’s leading experts in wealth creation through property and writes the Property Update blog. Articles reproduced with kind permission of The Trading Game Pty Ltd PS: 4 useful trading quotes are also added below: “There is a wise saying which came into being primarily since the advent of mechanical trading systems, and it goes something like this: "Your system will stop working when someone else builds his system based on your system." Can you see the truth in that? It is because of that reality that it is best to scout around for what may be working recently, and why it is a waste of time to backtest a system or method to see if it has worked for the last 10 years. You can't trade history you are forced to trade the present in an attempt to take advantage of the future.” – Joe Ross “I’m not worried about being stingy, trying to get every last pip out of a trade; I want out of my position if the trade is going the wrong way! Do you want to be stingy or do you want to be OUT??” - Rick Wright “A winner has the ability to find positive values from the most negative circumstances. This is the first reason why only emotionally healthy people can assume risks, they are able to rise above the superficial negative circumstances, discover trading opportunities and take decisive trading actions based on the current market conditions.” – Andy Jordan “You have no control over whether you will win or lose – but you have enormous influence over the beliefs that drive the performance of your trading process. This is the new “Winning Nature” that bridges the gap between controlling outcome (which is impossible) and controlling your process (which you can do repeatedly). This leads to the calm, patient mind need for successful trading.” - Rande Howell www.tallinex.com wants you to become a successful trader. Traders’ Mindset: http://www.advfnbooks.com/books/insights/index.html
  13. Weekly Trading Forecasts for Major Pairs (July 17 - 21, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair has been going upwards since June 27, and the bullishness has been maintained. Price also went upwards last week, though in a zigzag manner, closing above the support line at 1.1450 on Friday, and trying to go for the resistance line at 1.1500 (the initial target for this week). Other targets are located at the resistance lines at 1.1550 and 1.1600, which would require a strong buying pressure to reach. USDCHF Dominant bias: Bearish The market is bearish in the long-term and neutral in the short-term. While the overall bias is bearish, price has not really assumed any protracted movement in the last two weeks. For the short-term neutrality to end, price needs to move above the resistance level at 0.9750, which would threaten the ongoing bearish outlook; or price would need to move below the support line at 0.9550, which would help emphasize the bearish outlook. As long as price does not move above the aforementioned resistance level or below that support level, the neutrality in the market would persist. GBPUSD Dominant bias: Bullish GBPUSD moved upwards last week, gaining about 240 pips. The movement in the first few days of the week was flat, prior to the strong bullish movement that was witnessed on July 14. The market is intent on going further upwards, having tested the distribution territory at 1.3100. The distribution territory would be breached to the upside, for price would move further upwards by at least, 200 pips this week. The outlook on certain other GBP pairs is also bullish for this week. USDJPY Dominant bias: Bullish Although it is currently being threatened, the bias on this trading instrument is still bullish. The movement last week was essentially bearish, and as soon as price goes below the demand level at 111.50, things would go completely bearish (a Bearish Confirmation Pattern in the market). Only a strong rally from here can remove the threat on the current bullish bias. It should be borne in mind that the outlook on JPY pairs is bearish for July. EURJPY Dominant bias: Bullish The movement on EURJPY cross was bearish last week – in the context of an uptrend. Price first attempted to go upwards, but the attempt was halted as soon as the supply zone at 130.50 was reached. From that point, price got corrected by 180 pips, but it could not go below the demand zone at 128.50. For the bias to turn bearish, price would need to cut the demand zone at 128.50, while going further downwards. This is the expectation for this week, which could, however, be scuttled by incessant bouts of energy in Euro. This forecast is concluded with the quote below: “I believe a winning trading strategy should be easy to learn and apply in the real world.” - Jack Loftis Source: www.tallinex.com
  14. Weekly Trading Forecasts for Major Pairs (July 10 - 14, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish The market was engaged in a bearish correction from Monday through Wednesday and then rallied on Thursday, to close on a bullish note on Friday. This has put some emphasis on the bullish bias on the market, which means that occasional corrections would often lead to further rallies. The outlook on EURUSD is bullish for this week (and so it is for other EUR pairs). The initial targets are located at the resistance lines at 1.1450, 1.1500 and 1.1550. USDCHF Dominant bias: Bearish The USD/CHF made some bullish attempt in the first few days of last week, breaching the resistance level at 0.9650, but not being able to stay above it. The bullish attempt was not significant enough to pose any threat to the extant bearish bias, for price nosedived again on Thursday, owing to the new lease of stamina in EURUSD. The outlook on USD is bearish for this week, and as such further downwards movement towards the support levels at 0.9600 and 0.9550 is anticipated. GBPUSD Dominant bias: Bullish Basically, GBPUSD is bullish in the longer-term and bearish in the shorter-term. Price moved down by 110 pips last week, in the context of an uptrend, closing below the distribution territory at 1.2900. This week, the outlook on GBP pairs is strongly bullish, and as such, there is an expectation of a strong bullish movement to the upside, which would assert the presence of bulls. The initial targets are the distribution territories at 1.2900, 1.2950 and 1.3000 which have been previously attained. Price might even go beyond those targets. USDJPY Dominant bias: Bullish Since June 14, this pair has gained about 510 pips, moving in a perpetual bullish mode. Price is now very close to the supply level at 114.00; plus the possibility of breaching it to the upside is very high, owing to the clean Bullish Confirmation Pattern present in the market. Once the supply level is breached, the next targets would be the supply levels at 114.50, 115.00 and 115.50. However, the overall outlook for this month is bearish, and that may materialize anytime. EURJPY Dominant bias: Bullish The market moved sideways in the first few days of last week, before trending further northwards. Since June 15, this cross has gained about 740 pips, closing very close to the supply zone at 130.00 on Friday. The supply zone would be easily breached to the upside as price goes further towards other supply zones at 130.50, 131.00 and 131.50. There could, nonetheless, be some bearish reversals this month, but that may not happen as long as EUR is strong. This forecast is concluded with the quote below: "There is time to go long, time to go short, and time to go fishing. A good signal jumps at you from the chart and grabs you by the face – you can’t miss it.” – Jesse Livermore Source: www.tallinex.com
  15. Weekly Trading Forecasts for Major Pairs (July 3 - 7, 2017) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish Last week, a bullish breakout in this market put an end to the neutral bias on it, which was in place from June 12 to 23. Price gained more than 250 pips, almost reaching the resistance line at 1.1450, but closing above the support line at 1.1400. There is a huge Bullish Confirmation Pattern in the market, which means that further bullish movement is a possibility. Nevertheless, the outlook on EUR pairs is bearish for this week; just as it was previously announced that the movements on EUR pairs would be bullish last week. We might see a meaningful bearish run on EURUSD before the end of this week. USDCHF Dominant bias: Bearish This pair dropped precipitously last week, almost testing the support level at 0.9550 before closing near the resistance level at 0.9600. The bias on the market is currently bearish, but that may change once EURUSD drops before the end of this week. There are support levels at 0.9550 and 0.9500, which may be tested. An upwards movement may enable price to test the resistance levels at 0.9600, 0.9650 and 0.9700. GBPUSD Dominant bias: Bullish GBPUSD, which normally gets positively correlated with EURUSD, also went upwards by 310 pips last week, closing above the accumulation territory at 1.3000 on Friday. There is a possibility of further upwards movement, but the movement would be limited since the outlook on this market, and certain on GBP pairs, is bearish for this week. This means that there could be a serious bearish correction before the end of the week. As usual, there would be strong volatility on GBP pairs in July. USDJPY Dominant bias: Bullish USDJPY moved slowly northward last week, testing the supply level at 112.50, but being unable to close above it. Since June 14, the market has gained about 340 pips while moving northwards slowing and gradually. The trend in the market is bullish, but that may soon be put to an end, for the outlook on the market is bearish for this week and for this month. JPY pairs are also expected to go bearish this week and in July. EURJPY Dominant bias: Bullish Unlike USDJPY, which moved upwards gradually and slowly last week, EURJPY cross moved upwards rapidly and significantly. Price went upwards from the demand zone at 124.50, and tested the supply zone at 128.50 (a movement of about 400 pips). There is a significant Bullish Confirmation Pattern in the market, and short trades are currently not encouraged until there is a deep correction in the market, which would eventually happen, owing to a bearish outlook on JPY pairs for the month of July. This forecast is concluded with the quote below: “Independence has a slightly different meaning when it comes to the world of trading, but it is an important one. Trading gives us the independence from having to have a “9-5” job. It gives us the freedom to work from just about anywhere in the world (thanks, in part, to technology). We can choose what we want to trade, how much we want to trade and even take breaks whenever we want. It’s one of the best “jobs” you can have.” – TradingEducators Source: www.tallinex.com
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