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Wednesday, September 03, 2014

Update of the post cad/jpy How to use Trailing stops

Breakouts and Neutral days after breakout often show imbalance
First I would like to mention to my followers about the chart I posted Few days ago, Where I mention How to Use trail stops. Take a look at the chart here
Hi traders! IF you watch my blog regularly then You might have notice that I am consitently looking for something that has logic and I have clear all the doubts in almost every post. This is an updated post of the chart I posted on Wednesday last week, where I cover technique of "How to use Trail Stops" in trading and Today ahead of BOJ rate statement and Big impact day tomorrow, I am looking to wind up all the positions, and will look to enter again If an entry will be offered, and High volatility is expected in next two days, as traders are expecting too much from Banks but getting almost nothing.

Updated chart of Cad/jpy

Pair is still in strong demand and background has not seen any strong sell-off and whatever selling we have seen was against the "strong Holders" and immediate buying is strong sign of demand coming up again on daily lows, and one strong sign is when ever pair face sell-off it went to make a new high and it happen almost on every sell-off.
When you see such behavior you should be looking to remain in the trade for long time than expected but big news can create risk in the market and We should respect this situations and sit aside and see what happens and then we should trade our levels and ignore everything else

Breakout Trading succes : How to trade breakouts with supply and demand ...

Price Action basics Primary braekout and price behavior

Breakouts and Neutral days after breakout often show imbalance
First I would like to mention to my followers about the chart I posted two days ago i.e Aud/cad. Take a look at the chart here
I post this update ahead of BOC rate statement But what background is telling should be the primary need of a trader, to see whether the "Imbalance" is still presence in the market and when we see Primary breakouts out of ranges and look to spot "Reversals", the we need to spot that Imbalance first which shows that strong holders are still present in the market and They will buy if there is strong sellers going against them, and then we see spikes and that is what is necessary for a trader to enter with Low risk and usually cover position if that fades out quickly

Updated chart of Aud/cad

If we see another attempt to buy and see possible accumulation, after that activity and market end the day on lows which shows that Market might have again gone against the strong holders and With Background earlier shows a sign of strong seller, Then need to spot out logic and aggressive trading is name of such activities and We just need to spot out momentum , If it offered after breakout and market usually don't hold for too long that area and rally strongly afterwards in panic and Strong holders will buy with even much force

Sunday, August 31, 2014

Possible Currency pairs to eye this week

My recent currency pairs Updates

Hi traders! I have built up a complete list of the trades I would try to eye ahead of this week and I would try my post to keep you updated when Opportunity would be provided

Because of the fact it is big week full of events start with UK PMI's, Aussie Interest rates, BOC Interst, Euro and BOE policy guidance and At the end of the week biggest release of much awaited NFP

Below is the list of the trades I would recommend

* Aud/cad

*Gbp/chf

*Aud/usd

I will try and keep the blog updated for the latest updates If market give me an opportunity to a possible low risk setup

Friday, August 29, 2014

Update of the post How to Use trail stops

Trailing stops should be understood properly

I am continuing the post "How to use trailing stops in trading", and what better time to close the position followed by sell off and also during the weekend, otherwise I would take a chance with strong aggressive day about to close almost near the open but still we have to behave at exact time to preserve our profits and let the position run to get more out of a trade.

Those who did not check my earlier post Take a look at the chart

Update of the chart Cad/jpy

As I have stated in my previous posts that "Imbalance is what creates trends, and balance creates ranges", and Neutral day activities after strong trends breakouts is a very excellent clue of Imbalance and even though sellers were quite aggressive but buyers really manage to close day almost where It open.

You need to put simple thoughts if strong holders not were buyers then How did they manage to bring the price upto the open after strong selling yesterday

When we see price again start pushing up higher again after clearing up the noise, another entry was offered once again which need to be covered around 94.00, when price failed to make a new high and went on to close below the yesterday high. These simple things really differentiate smart traders from novice who miss logic piece in their trading approach.

As I have always manage to keep to the blog full of knowledge and with complete logic, One can anytime put any question in the comment section if Any such confusion occurs.