Fear of Brexit driving Pound into extreme levels of trading

We all have seen another volatile week for gbp/usd, reason being the news out of Britain Area regarding "Brexit" driving traders in fear of missing piece of puzzles, and hence some strong buy and sell orders but for me, its always been discipline and most crucial traded levels of rejection and one I have my eye on right now is crucial 1.4650 area, and that has been the point of focus for me right now .

Pound overall picture from Technical point of View

We have seen some strong rejection from highest levels and this can be another fakeout of demand and If we see some rejection in the box above in blue we can see massive selling at failure at supply levels, but we have to be patience and we have to wait for the sellers take position again from these levels as we have flipped again into the confluence of previous bull rally and rally to 1.4320 area, seems bulls hold the position again or we can see another phase of distribution around the levels I mention in the chart.

Focus has been shift to the two volatile events in the coming days and one of them is this week FOMC minutes, which has been the driver of US dollar Index Future at large and any statement made or failed to reach the set targets of inflation or employment numbers will give USD bears enough chance to drive the price lower and this can be once again the most favored scenario, but we will have to wait for the board members to justify their reason to hike or not to hike and this can really be volatile if there is no proof of another hike in coming months as employment numbers were very disappointed this month.

Currency Updates Buy Euro on Dips

It has been volatile week for Yen Crosses and fair risk after comments from Yen officials that they don't need further stimulus and happy with the recent recovery and these comments seen decent Yen appreciation, but focus is now shift on next week big Brexit referendum which will decide the fate of Britain residents, that whether they want to stay in Europe or would like to exit and that can really create panic and moves can go either way, so be patient and wait the storm to settle and it would be better If you don't schedule any trading activity during the next week because of uncertainty.

How to Trade Forex mean Reversals with logic and Reward

Trade Alerts

Forex Technical Update-Live Trade Gbp/usd 06 June 2016

Pair has managed to hold the gains after huge rally downwards to start of the week, but has show strength and focus is now shifted towards the high of 1.4750-60 area, I would wait for pullbacks towards 1.4450-60 for any retracement entry. Check the post and check the trading levels.

Live Trade Update-- Aud/jpy 05th June 2016

long entry was recommended around 79.55 levels and target was set around 80.67, Pair has manage to reach 80.40 and waiting for 80.67 first target to be achieved soon and from there new update would be posted.

Forex trading strategies-Fresh Usd/longs

Trade was recommended earlier after rejection of 1.2892, and idea was immediate rejection from strong supply in to demand and rejection offers very low risk reward opportunity and that is the reason I buy it around 1.2920 and took profit at 1.3050 when market rejects once again from the same area on Monday. Trade Update usd/cad

Forex Techncial Analysis Gbp/usd l Trade Alerts

Pound has manage to fake the previous price Action around 1.4356 and manage to breach the high of post NFP payroll data. Focus is now shift towards base of the current pause in rally around 1.4440 and trade alert section will be updated If we find any buy stops triggered at pullbacks.

Australian dollar trading RBA interest Rate Decison l Bullish outlook

Austalian dollar trading waiting for Bank official to meet and decide the future of Australian Economy, its GDP forecast, bank repo rate, lending rate and deposit rate and it is this is one of the major release that Australian dollar react to. After Friday bull rally, price action in all the Aussie pairs is waiting for banks to hold the cash and lending rate to the record low and maintain a dovish outlook overall as there is some signs of global recovery has been seen in China and other global trading partners.

Technical Analysis of all the Aussie Crosses

As I mention in my previous article, you must be aware of all the recent moves and collect those pieces to be able to know the future reaction of price and it will help you decide when to enter with lower risk and get the maximum reward and remain in trade for longer periods to make full use of risk reward and make profit upto the maximum or close to maximum potential.

Aud/jpy found support just below the previous low

Price Found support around 78.00 just below the previous low and faking out the previous swing low and faking out the strong demand or confluence level of the previous rally which makes a new high, I would like to remain in trade and watch for the next mention target and it is breached i would look for the new high just above the previous swing high.

Australian dollar outlook bullish ahead of RBA rate decision

Outlook is positive for more gains and outlook is still quite bullish But adjusting of large orders can be seen and rally towards the low of 0.7298 cannot be ruled out and from there we can see rally continue towards 0.7450-80 area, which is good area to take profits and put stops under 0.7250 would offer good risk reward potential

Pair Australian Dollar Aud/usd
Entry buy stop at 0.7300
Stops @0.7240
First TG is today high around 0.7380
Second Target is 0.7460
Risk Reward 1/3.
Risk--High
Two things that favors our entry and one of them is we are not entering at market levels and so in bullish market we have to play the waiting game and look for potential large orders for the rally to catch enough sell orders and our stops are placed such as to give trade some room to breathe after the market settles down and second risk is not on as we have not seen big rallies up or down in world indices, so play safe is always recommended and entry and exit level rules are very strict.

Forex Technical Analysis l How to read a currency Chart

Forex Technical Analysis is complete art in itself and You don't need to be Rocket scientist to read a Currency chart and Your technical knowledge will remain incomplete if you don't know Who hold the strong side on the chart and who is more likely to gain control in future. That market is most sentiment oriented which can turn its hands any time and it would take a session or two for a strong bull or bear trend will completely reverse, so it means you have to be cautious and can take all the time you need to access and implement what you learn in all those months or even years you spend

Forex Technical trading is all about who holds the edge, and if you want to compete with the best in the business, you need to be well versed with all the tools and need to stay ahead of the market

Chart reading or knowledge of complete Price Action is must and your decision making should be based only on levels and time spend near those levels which makes those levels even stronger when they are visit. Market always use to behave near those strong levels even for some spikes, which can be the result of consumed orders or strong pinbars which tell us the strength of the level again.

Step to step Technical Analysis

Chart above Canadian dollar/japanese yen without any explanation will put you in complete disarray what is happening but If I put some text on the same chart the you will have some idea why it is important to read every chart and understands what it is trying to tell and then plan your trading activity. Technical analysis should be easy to read and should only be based on price and its complete supply and demand structure, and time put behind such knowledge always give you an edge above others who use indicators, trendlines, fibo and Chart patterns like Head & shoulders, cup and handle etc.

Also read:--- How I manage to pick bottom in S&P--S&P Technical Analysis

Forex Technical Analysis--Step by Step Chart Reading

Above Chart tells the different story altogether,because every move is cleared in this chart and if you find such decisions been made on the chart the Forex Technical Analysis is logical otherwise they are just support and resistance areas which would surely be one or other way of failure.

If you see the above chart we have supply from where price fell a fair way away and then it found demand and compressed(cp) to supply faking it out and then this CP broke into demand and again faking it out and then rally to new highs which was another fakeout and price fall again.

While price fall of that new high it ignore the demand on its way down,creating new supply and price again found new demand and that first visit to supply (ignore demand become supply)was rejected and price then compressed to newly formed demand faking it out and went quickly for the second visit to supply and when it again went to the demand level which was consumed it just give false pinbar which tells that there was spike due to unfilled order and that unfilled orders now got consumed and price is ready to fall to the next demand level or decision making.

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