Forex Trading Strategies l Beginners Price Action Based On Supply and De...

Trade Update Comex Gold that gained 2%

 

As a Forex Trader, One should not always look for trading opportunities , because as stock market there are not too many choppy sessions in Currencies. There are days of extreme volitility and there are days of average movement, but we have to be conscious enough to take the opportunity when it arrives.

So, what does that mean when opportunity arrives, with that I mean when market moves volatile, one does not get the opportunity, then one should lined up the charts that breaks from earlier accumulation zone.

For me, its always been neutral days that comes up with the opportunity and recent movement in Gold , is one prime example of such opportunity.

As market was waiting to break and there were not too many strong sellers involved even price was bearish prior to breakout but when market does break that level, there was conscious effort of holding the price above that breakout and that is with a neutral buying day.

Market also built a minor development area and keep rising from that level, So where does the opportunities lies in this market, and why we should keep waiting for market to test that area again in next couple of days.

Market has to test the area to check whether that area hold any supply and if market has no supply to hold the price here, then probably it will keep rising as it happened in this case.
Read more at http://fxconfidence.blogspot.com/2015/04/things-that-works-for-forex-trader.html#KvE1206FzwIAiKdr.99

The PSID momentum train continues!

PSID got off to a very strong start this morning as it surged to a high of .0275 per share for an 18 percent gain from yesterday’s closing price!

This is now PSID’s 3rd consecutive session of increasing activity, trading over 5M shares so far this morning alone, breaking well past its 3 Month Average Volume of just over 2.9M shares, and with more than half the day’s session still left to go!

As you recall in the alert I sent out yesterday I believed that PSID could see another big move in the sessions ahead if this momentum continues to carry, and today’s trading session got off to a massive start, as PSID raced out of the gates for a huge early morning gain.

Since then PSID has found support just about .0245 per share, and looks to be building a new base, potentially setting up for what could be another leg-up the charts in the sessions ahead!

If this momentum continues to build as it has over the last 3 trading sessions, PSID could be challenging old highs in no time!

PSID Issues Breaking News:

Just this morning, PSID announced that it has successfully completed additional testing of its phase II Firefly Dx prototype handheld, real-time PCR pathogen detection system, and detected multiple organisms with a multiplex assay designed to simultaneously test for up to four pathogens on the Firefly Dx PCR chip.

Chairman and CEO of PSID, William J. Caragol states, “The ability to quickly test for multiple organisms from a single sample and identify the cause of symptoms in a patient without having to run several tests, we believe, will not only save time and money in clinical situations, but more importantly will improve treatment and outcomes. We are very proud of our continued progress and validation of our technology and design."

The company continues to make strides in the development of its Firefly Dx product and as it reaches more and more milestones in its progress, PSID could continue to see a significant boost upward.

I am urging members to keep a close eye on PSID over the next week, and I’ll be sure to keep you up to date with any more breaking news as it becomes available!

Happy Trading,

 
 

Things that works for a forex trader

Its been quite week so far, understandably because market needs a break from strong volatile days and also there is big release coming this Friday.

But Idea of this article is not that what is coming and lying ahead, idea is to always remain within yourself and Picking up the markets that work for you.

As a Forex Trader, One should not always look for trading opportunities , because as stock market there are not too many choppy sessions in Currencies. There are days of extreme volitality and there are days of average movement, but we have to be conscious enough to take the opportunity when it arrives.

So, what does that mean when opportunity arrives, with that I mean when market moves volatile, one does not get the opportunity, then one should lined up the charts that breaks from earlier accumulation zone.

For me, its always been neutral days that comes up with the opportunity and recent movement in Gold , is one prime example of such opportunity.

As market was waiting to break and there were not too many strong sellers involved even price was bearish prior to breakout but when market does break that level, there was conscious effort of holding the price above that breakout and that is with a neutral buying day.

Market also built a minor development area and keep rising from that level, So where does the opportunities lies in this market, and why we should keep waiting for market to test that area again in next couple of days.

Market has to test the area to check whether that area hold any supply and if market has no supply to hold the price here, then probably it will keep rising as it happened in this case.

Importanace of Reading Overall Price action

Hi,

I have again turned up with some good learning of Currency trading process. This time I would not only talk about how important it is to understand the price action but also on relative Importance of Particular Candlesticks Patterns.

Price Action techniques have changed and will keep improving with time. But "context" will remain the same and with context I mean the way "Institutions" enter the market and sell and buy with predetermined approach.

So Candlesticks price action usually works the other way because last session close on break of high could possibly lead to strong selling in next session .

But this is not importance because ranges are often followed by trend specially If background is pretty clear and By background I means strong money dominating before could be sign of exhaustion of trend when any Pullback entry is offered.

It entirely depends on the consciousness and approach and when we have such approach that we can identify where strong money is trying to push the price, the become lot easier but it does not mean that we should not give respect to market if it turns and always look to get out early if things went wrong immediately.

Lets taken an example of Possible Correctional bottom

Traders have setup their mind after strong trends possibly one like that an pullback entry is waiting after small ranges but when these ranges breakouts faded out with strong candle above the range then we should look for New lows and effort after new lows.

There are no Sticky rules for selling and buying and that is what happened in this chart.

We have seen Price always jumped of from New highs and new lows and that can happened to this chart as well as prior trend is quite strong.

But when enter with logic then there are better chances that we succeed rather than blindly enter on breakout in strong trends which does not make logic.

Looking forward for some more examples