Fellow traders, what do you think about CAD/JPY?
is it a good time to start buying?
Because CAD is on downtrend now, vs eur, usd and jpy, and I think it would rise up soon. Also the JPY, is very strong, and BOJ doesnt like it, so could intervene soon unless it drops?
what do you think? is it a good time to start gathering CAD/JPY? or wait abit more? 
Nice one on gold FMM, it broke 1586, went straight to 1577.
Iâm in 
But Iâll do it in Euroâs.
This was a nice rounded bottom formation off of FMMâs line this morning. This was after multiple bounces, so I did not take the trade. However, for educational reasons, this morning I wanted to show those on this forum learning âprice actionâ a couple of things that could really help. Fractals and Rounded Bottoms.
If any of you are like me, you are trying your best to get more familiar with Breakouts using FMMâs price levels.
Here is the USD/JPY chart from this morning/last night. If you were short and âsurprisedâ by the upward breakout, please take a look at my analysis (of course it is hindsight), but hopefully it helps for next time.
This is the kind of âno-brainerâ breakout trades I am looking to take in the future. 2 Clear indications that it was going up.
Always be mindful, when price sticks to one level (not bouncing away from it) this is a strong continuation indicator. Why? Simply because traders are getting more and more comfortable with the level.
Think about it this way⌠If you donât know someone well, you do not feel as comfortable with them, than if you were to play 5 rounds of golf with them, right? Well, for each 10 mins the price hugs the line without bouncing away, consider it a golf game! LOL 
Enjoy.
Hi how do I get these trades ? How often do you do them ? Thanks
There might be something wrong with coding of this forum and pageâŚ
Hello Traders,
Forex Signals & Analysis for 23rd May 2012:
Short Term Signals:
Usd/Chf Buy at 0.9365/70 then 0.9320/25 then 0.9275/80, sell at 0.9530/35 then 0.9555/60 then 0.9630/35
Usd/Jpy Buy at 79.20/25 then 78.90/95 then 78.55/60, sell at 80.40/45 then 80.65/70 then 81.15/20
Euro/Usd Buy at 1.2595/00 then 1.2555/60 then 1.2455/60, sell at 1.2815/20 then 1.2880/85 then 1.2940/45
Gbp/Usd Buy at 1.5700/05 then 1.5670/75 then 1.5605/10, sell at 1.5845/50 then 1.5885/90 then 1.5930/35
Medium Term Daily Analysis:
Usd/Chf This pair is on uptrend, retracement at 0.9435/40, as swing sell with Tp1 0.9365/70 Tp2 0.9320/25 Tp3 0.9275/80, while as breakout buy with Tp1 0.9530/35 Tp2 High at 0.9555/60 Tp3 0.9630/35
Usd/Jpy This pair is on uptrend, retracement at 79.75/80, as swing buy with Tp1 80.40/45 Tp2 80.65/70 Tp3 81.15/20 while as breakout sell with Tp1 79.20/25 TP2 78.90/95 Tp3 78.55/60
Euro/Usd This pair is on downtrend, retracement at 1.2720/25, as swing sell with Tp1 1.2595/00 Tp2 low at 1.2555/60 Tp3 1.2455/60, while as breakout buy with Tp1 1.2815/20 Tp2 1.2880/85 Tp3 1.2940/45
Gbp/Usd This pair is on downtrend, retracement at 1.5800/05, as swing sell with Tp1 low at 1.5700/10 Tp2 1.5670/75 Tp3 1.5605/10 while as breakout buy with Tp1 1.5845/50 Tp2 1.5885/90 Tp3 1.5930/35
Usd/Cad This pair is on uptrend, retracement at 1.0185/95, as swing buy with Tp1 1.0250/55 Tp2 High at 1.0275/80 Tp3 1.0320/25 while as breakout sell with Tp1 1.0140/45 Tp2 1.0110/15 Tp3 1.0075/80
Euro/Cad This pair is mixed, buy at 1.2965/70 with Tp1 1.3030/35 Tp2 1.3080/85 Tp3 1.3115/20 while sell at 1.2930/35 with Tp1 1.2890/95 Tp2 1.2865/70 Tp3 1.2795/00
Gbp/Cad This pair is on downtrend, retracement at 1.6110/20, as swing sell with Tp1 1.6015/20 Tp2 1.5980/85 Tp3 1.5945/50 while as breakout buy with Tp1 1.6135/40 Tp2 1.6165/70 Tp3 1.6210/15
Aud/Usd This pair is on downtrend, retracement at 0.9840/45, as swing sell with Tp1 0.9730/35 Tp2 0.9695/00 Tp3 0.9600/05 while as breakout buy with Tp1 0.9930/35 Tp2 0.9990/95 Tp3 1.0045/50
Aud/Jpy This pair is on downtrend, retracement at 78.50/55, as swing sell with Tp1 77.85/90 Tp2 77.55/60 Tp3 76.95/00 while as breakout buy with Tp1 79.20/25 Tp2 79.60/65 Tp3 80.00/05
Nzd/Usd This pair is on downtrend, retracement at 0.7585/90, as swing sell with Tp1 0.7460/65 Tp2 low at 0.7420/25 Tp3 0.7325/30 while as breakout buy with Tp1 0.7670/75 Tp2 0.7730/35 Tp3 0.7790/95
Euro/Jpy This pair is on downtrend, retracement at 101.90/00, as swig sell with Tp1 100.80/85 Tp2 100.50/55 Tp3 low at 99.90/00 while as breakout buy with Tp1 102.15/20 Tp2 102.50/55 Tp3 102.95/00
Gbp/Jpy This pair is on downtrend, retracement at 126.90/00, as swing sell with Tp1 125.25/30 Tp2 124.90/95 Tp3 124.40/45 while as breakout buy with Tp1 126.65/70 Tp2 126.95/00 Tp3 127.50/55
Chf/Jpy This pair is on downtrend, retracement at 84.80/85, as swing sell with Tp1 83.90/95 Tp2 83.60/65 Tp3 low at 83.10/15 while as breakout buy with Tp1 85.05/10 Tp2 85.40/45 Tp3 85.75/80
Gbp/Chf This pair is on downtrend, retracement at 1.4955/60, as swing sell with Tp1 1.4825/30 Tp2 1.4780/85 Tp3 1.4735/40 while as breakout buy with Tp1 1.4975/80 Tp2 1.5000/05 Tp3 1.5070/75
Gold is trying to base on downtrend, retracement at 1571/72, as swing sell with Tp1 1549/50 Tp2 1541/42 Tp3 low at 1521/22 while as breakout buy with Tp1 1595/96 Tp2 1607/08 Tp3 1621/22
Oil is on downtrend, retracement at 93.65/70, as swing sell with Tp1 90.85/90 Tp2 low at 89.90/95 Tp3 89.05/10 while as breakout buy with Tp1 93.90/95 Tp2 94.45/50 Tp3 95.85/90
We have Crucial News Release today for the Yen, Sterling, Euro, Loonie & the Dollar Currency;
-
BOJ Monetary Policy: Buy Usd/Jpy if statement is Dovish while sell if Hawkish
-
UK MPC Meeting Minutes: Buy Gbp/Usd if 2 members vote for hike while sell if 2 members vote for QE
-
UK Retail Sales: Buy Gbp/Usd if 1.1% or better while sell if -1.1% or worse
-
EU Economic Summit: will wait to see what Eu Economic Leaders will come out with which will directly effect the Euro Currency that fell sharply yesterday and any upward move can be seen not that effective but as a recovery to yesterday High price reached.
-
CAD Core Retail Sales: Buy Usd/Cad if 0.3% or worse while sell if 0.7% or better
-
US New Home Sales: Buy Usd/Jpy & Usd/Chf if 345K or better while Buy Euro/Usd & Gbp/Usd if 315K or worse
***Currencies vs the dollar failed to make an impact yesterday after the Euro big weakness is directly effecting the others, even Gold and Oil failed to continue the comeback but as many years had learnt us that new day new market new trading especially that once again Euro headlines will have the biggest impact and at Top priority would be the EU Economic Summit.
Have A Great Trading Day
Usd/Jpy This pair is on downtrend, retracement at 79.75/80, as swing buy with Tp1 80.40/45 Tp2 80.65/70 Tp3 81.15/20 while as breakout sell with Tp1 1.5700/05 Tp2 1.5670/75 Tp3 1.5605/10
???
At wht price did u went short Gbpusd ⌠Did u take it at the Rt level i.e. 1.5850⌠If yes then a grt moveâŚ
I couldnât take it as I was not watching mkt at that time⌠So miss the good short oppurtunity
thank you FMM⌠today i trade with my bad mood⌠keep scalp with big volume⌠i left few hundred usd only⌠tmr i will
trade with the left balance with you signal⌠i hope i still have the chance to continue follow up your awesome signalâŚ
utah, sent you a message. have to off for couple weeks, work calls.
what do you have in minds about the journey?
any plans from you?
will consider as full time trader after get back from works, of course with $100 
do you think should we start a new thread about the journey?
see you soon, could be sooner tho
In respect for the traders here, maybe starting a new thread is the best idea.
$100 starting capital, keep track of trades daily using fx book or manually. Start June 1st.
Letâs do it!!
Dan
Hello Traders,
Dan(Utah) had sent me a PM asking for advice about correlated pairs and since I realized that many traders might have same question and benefit from my reply to this question. I decided to post here my answer so it will be helpful for all of you:
ââ"You must know that there are positively correlated pairs and negatively ones.
For example: Euro/Usd & Gbp/Usd are positively correlated, same with Usd/Chf & Usd/Jpy while Euro/Usd and Usd/Chf are negatively correlated just as Usd/Jpy and Euro/Usd just as Gbp/Usd and Usd/Chf.
But correlation do not always work perfectly, meaning Euro/Gbp movement highly effects EuroUsd & Gbp/Usd correlation when thereâs a big movement in one direction of that pair.
Same as when Yen is strong while Swiss Franc is weak and vice versa, for the Usd/Chf & Usd/Jpy correlation.
Ofcourse, betting on correlation can gain you double money but not that accurately as doubling your bet on one pair and on the other hand can double your risk.
A Tool or Tip to how use correlation formula to profit in the market. you can wait for a gap that happens in one of the correlated pairs to trade once you see that gap.
For example if Euro/Usd go up 50 pip while Gbp/Usd is still on 20pip candles move, then you must prepare for a 30 pip move in the latter to fill this gap or down move by Euro/Usd to fix the negative correlation that occurred from this gap.
Some traders strategy only rely on this correlation formula to trade the market.
It does not happen all the day and need some focus for extended period of time since correlation chance have no specific time to occur.
Other way to trade correlation is to look at news releases for a currency that effects it exclusively, so when a spike occur after news in Euro/Usd for example, Gbp/Usd will not instantly spike as the first, so you can directly see the gap found to hurry and trade it.
Good Luck ââ""
Hello Traders,
Forex Signals & Analysis for 24th May 2012:
Short Term Signals:
Usd/Chf Buy at 0.9455/60 then 0.9415/20 then 0.9370/75, sell at 0.9605/10 then 0.9630/35 then 0.9695/00
Usd/Jpy Buy at 78.95/00 then 78.70/75 then 78.20/25 while sell at 80.10/15 then 80.40/45 then 80.80/85
Euro/Usd Buy at 1.2495/00 then 1.2460/65 then 1.2375/80, sell at 1.2690/95 then 1.2745/50 then 1.2805/10
Gbp/Usd Buy at 1.5635/40 then 1.5615/20 then 1.5555/60, sell at 1.5770/75 then 1.5805/10 then 1.5845/50
Medium Term Daily Analysis:
Usd/Chf This pair is on uptrend, retracement at 0.9490/00, as swing buy with Tp1 High at 0.9605/10 Tp2 0.9630/35 Tp3 0.9695/00 while as breakout sell with Tp1 0.9455/60 Tp2 0.9415/20 Tp3 0.9370/75
Usd/Jpy This pair is on downtrend with overall mixed sideways movement, retracement at 79.50/55, as swing sell with Tp1 78.95/00 Tp2 78.70/75 Tp3 78.20/25 while as breakout buy with Tp1 80.10/15 Tp2 80.40/45 Tp3 80.80/85
Euro/Usd This pair is on downtrend, retracement at 1.2645/50, as swing sell with Tp1 low at 1.2495/00 Tp2 1.2460/65 Tp3 1.2375/80 while as breakout buy with Tp1 1.2690/95 Tp2 1.2745/50 Tp3 1.2805/10
Gbp/Usd This pair is on downtrend, retracement at 1.5740/50, as swing sell with Tp1 low at 1.5635/45 Tp2 1.5615/20 Tp3 1.5555/60 while as breakout buy with Tp1 1.5770/75 Tp2 1.5805/10 Tp3 1.5845/50
Usd/Cad This pair is on uptrend, retracement at 1.0220/25, as swing buy with Tp1 High at 1.0310/15 Tp2 1.0340/45 Tp3 1.0385/90 while as breakout sell with Tp1 1.0185/90 Tp2 1.0155/60 Tp3 1.0110/15
Euro/Cad This pair is on downtrend, retracement at 1.2925/30, as swing sell with Tp1 1.2840/45 Tp2 1.2810/15 Tp3 1.2755/60 while as breakout buy with Tp1 1.2970/75 Tp2 1.3010/15 Tp3 1.3045/50
Gbp/Cad This pair is on downtrend, retracement at 1.6085/95, as swing sell with Tp1 1.6005/10 Tp2 1.5965/70 Tp3 1.5895/00 while as breakout buy with Tp1 1.6175/80 Tp2 1.6220/25 Tp3 1.6275/80
Aud/Usd This pair is on downtrend, retracement at 0.9795/00, as swing sell with Tp1 0.9660/65 Tp2 low at 0.9625/30 Tp3 0.9560/65 while as breakout buy with Tp1 0.9825/30 Tp2 0.9865/70 Tp3 0.9925/30
Aud/Jpy This pair is on downtrend, retracement at 77.90/95, as swing sell with Tp1 low at 76.45/50 Tp2 75.90/95 Tp3 75.05/10 while as breakout buy with Tp1 78.60/65 Tp2 79.20/25 Tp3 79.95/00
Nzd/Usd This pair is on downtrend, retracement at 0.7540/50, as swing sell with Tp1 0.7435/40 Tp2 0.7405/10 Tp3 low at 0.7355/65 while as breakout buy with Tp1 0.7565/70 Tp2 0.7595/00 Tp3 0.7640/45
Euro/Jpy This pair is on downtrend, retracement at 100.60/70, as swing sell with Tp1 98.85/90 Tp2 98.35/40 Tp3 97.20/25 while as breakout buy with Tp1 101.50/55 Tp2 102.25/30 Tp3 103.05/10
Gbp/Jpy This pair is on downtrend, retracement at 125.25/30, as swing sell with Tp1 123.65/70 Tp2 123.15/20 Tp3 122.05/10 while a breakout buy with Tp1 126.20/25 Tp2 126.90/95 Tp3 127.65/70
Chf/Jpy This pair is on downtrend, retracement at 83.75/80, as swing sell with Tp1 82.30/35 Tp2 81.85/90 Tp3 80.95/00 while as breakout buy with Tp1 84.50/55 Tp2 85.15/20 Tp3 85.80/85
Gbp/Chf This pair is trying to base on uptrend, above retracement at 1.4960/65, as swing buy with Tp1 1.5045/50 Tp2 1.5080/85 Tp3 1.5145/50 while as breakout sell with Tp1 1.4880/85 Tp2 1.4840/45 Tp3 1.4785/90
Gold is on downtrend, retracement at 1566/67, as swing sell with Tp1 1532/33 Tp2 low at 1519/20 Tp3 1504/05 while as breakout buy with Tp1 1580/81 Tp2 1589/90 Tp3 1610/11
Oil is on downtrend, retracement at 91.20/25, as swing sell with Tp1 88.80/85 Tp2 88.00/05 Tp3 low at 86.70/80 while as breakout buy with Tp1 92.10/15 Tp2 92.90/95 Tp3 94.10/15
We have Important News releases today for the Euro., Sterling & Dollar Currency:
-
Euro German Manufacturing PMI: Buy Euro/Usd if 49 or better while sell if 45 or worse
-
ECB President Mario Draghi Talks: His talks will directly effect the Euro Currency. Itâs not a tradable news but worth to be focused at because any positive or negative look at the Euro Economy by the President will effect the currency.
-
UK Revised GDP: Buy Gbp/Usd if 0.1% or better while sell if -0.4% or worse
-
US Core Durable Goods & Unemployment Claims: Buy Usd/Chf & Usd/Jpy if 1.3% or better for the first or/& 360K or better for the second while Buy Euro/Usd & Gbp/Usd if 0.9% or worse for the first or/& 380K or worse for the second
***Many pairs are looking to the Tops & Bottoms today âifâ market price kept going to both respectively(mainly at TP1 for the majors, review today post analysis) âbeforeâ hitting retracement price levels.
A Real Important day if any reversal will happen in following daysâŚ
Have A Great Trading Day
FMM, Can you please explain. If I understood correctly, If EURUSD, GBPUSD hit TP1 without coming close to retracement levels, you suggesting that would be the bottom of the trend and possible reversal from those levels ?
Hello Dan,
I am also interested in this.
My suggestion is to open a new chat group on Skype aswellâŚ
I think Forex Money Maker is suggesting that it is very possible that major pairs are going to hit TP1 areas (or get very close to it) if they manage to stay away from the retracement area BEFORE they retrace. However this scenario is subject to very important economic data that is being constantly released since morning. This is my undestanding of what Forex Money Maker has writenâŚso if anyone else thinks otherwise please let us know. Happy pipping fellow traders :10:
In my understanding,
Most of the pairs are reached exactly near the very strong support and resistance areas and Bottoms or Tops. So all traders becarefull to enter a trade.
He mentioned that all pairs will go to TP1 before hit the retracement level. Then All pairs may reverse from the current trend.
If it touch retracement levels then enter a trade before going to TP1 level. USD/JPY and GBP/CAD worked so far for 25 pips profit.
Watch all pairs on a Daily or weekly time frame. So take cautious.
USD/CHF is now reach the Strong Resistance area. It may go down today. (Traders donât take it literally. becareful before acting)
Happy pippin,
Good Luck
Are you guys going to open an account, group, and thread about these signals? Thatâd be cool.