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Trader and author Raghee Horner of Interbank FX talks about an intraday setup on the EUR/USD. Although this setup occurred a few hours earlier, it still nonetheless is a great example of an intraday swing setup, utilising support/resistance, moving averages and of course, fibonacci. Raghee mentions, “The trends on the intraday time frames were mixed [...]

Trader and author Raghee Horner of Interbank FX talks about trading price patterns, specifically channels, and uses the EUR/USD from yesterday as an example. A lot of the time new traders aren’t too keen on trading price action – it’s a lot easier to look at an indicator, e.g. an arrow telling you to buy [...]

Tomorrow’s Friday’s Non-Farm Payroll (NFP) countdown has started with yesterday’s ADP (Automatic Data Processing) Non-Farm Employment Change release at 8:15am EST. Most people regard this as the main starting point to the congestion which always happens as traders across the globe lay in wait for the NFP result. Identifying the range of the squeeze across [...]

Taking a look at today’s EUR/USD D1 Chart, we can see how price stopped at around the 1.4700. This guys, was a virtual given – 1.4700 being a psycologial support/resistance point, AND the fact that it’s at the 61.8 Fib retracement level, consequently bouncing back up, and reacted to the 38.2 Fib line to the [...]

Eur/Usd – Today’s Outlook Taking a look at today’s EUR/USD H4 Chart, we can see how price stopped at around the 1.4850, bounced back up, and reacted to the 38.2 Fib line to the pip. Price has now come back down to 1.4880, and it seems as though it will test the 23.6 Fib level [...]

I know there are a number of traders who will claim that some pairs are easier to trade than others. Although I do admit that history shows this might be the case, the truth is, no pair is easy to trade. And no pair is the EASIEST to trade. This is my humble opinion and [...]

People who dip into the waters of forex trading deliberate on which pairs to trade. While EUR/USD is usually the first choice, it isn’t the most predictable currency pair, and the noise around it can be very confusing. Guest Post by Yohay Elam of Forex Crunch – Forex Trading Blog. New forex traders are usually [...]

You’ll see that EUR/USD and USD/CHF have produced long and short signals respectively, not surprising since these pairs are inversely correlated. However, if you look at the setups: 1. The candles are very long in comparison to the past few days’ candles. This will make our stop losses very large. 2. The Stochastics, whilst not [...]

25 August, 2009 by Stephen Leahy Boston Aug 25 08:17 EST CFTC Commitment of Traders Reports show continuing build up of short EUR positions in the futures markets. We believe this to be a confirmation of the shifting sentiment indicators we first highlighted on August 13 (www.backbayfx.com/blog.php) The Financial Times has a great piece in [...]

Apparently one of our forum members thinks he’s figured it out: “Develop a strategy or get one from a guy like Ash and trade it consistently. That’s it!!! The hard part is to do it consistently. The hard part is to watch your stop loss being approached and still letting the trade ride, because maybe [...]