Hi horlique
what is your advice on trading in august when volitility shrinks due to holiday seasons.
Nadeem
we will trade it ; banks rarely go on holiday on August cos its all about making money; the good about august is that the market is always stable.
Horlique2 any advice on trading NFP later today? Any particular market I should be looking at?
[QUOTE=“graphicvs;515509”]Horlique2 any advice on trading NFP later today? Any particular market I should be looking at?[/QUOTE]
Short GU now
Seems you are not that much greedy! Good.
Gained 39 pips on EUR/USD trade today - Good finish to the week. Speak to you all on Sunday, have a great weekend everybody 
good one happy weekend.
Horlique can u look at gold daily…
Thanks
thats a very powerful bullish signal meaning next week we should expect higher prices on goldusd, but price may move a little bit lower before todays close.
Thats a good one nadeem.
70% of trading success is psychology and money management, while 30% is strategy.
Thanks boss. Trying to follow you
Horlique what news events you consider before tsking any trade. I mean what major news you Always look at when you take a trade
Thrre were very powerful A+ set ups this week but news events ruined them. What is your advice and how and what news events to look at…
i use to trade news event some years back when it was easy to get better executions on most brokers during news, after a while almost all the brokers then began playing tricks during news event so i just left news trading to concentrate on PA. There are atleast 17 major news event every month you can check newsimpact.com, forexpeacearmy ( news calenders to see high impact news with atleast 4 stars)
yes the news spoiled some of our A+ entries ,thats why i hate trading around news event cos its reduces the probability of winning trades.
u need to check forexpeacearmy news calender on a sunday to see news event that have high impact history to avoid trading pairs that will be affected during news.
that means if theres a news on GBP you dont need to trade any pairs containing GBP fews hours to the events., another site that has a better news history chart is newsimpact.com
The first week is always the most busiest for news event, the second has lesser news(but theres aud employment and nzd news), the 3rd/last week is always a smooth week for PA traders. News also helps to provide many technical trading opportunities.
So what is your next forecast Horlique? When you are going to post!
i will post next week trading forecast today or before sunday open.
Trading outlook for 5th August to 9th Agust 2013
This last week as we all know that the news event spoiled some of our good trades.
I will start with my favourite pair.
1) EURUSD: This pairs did closed above 1.32400 being a powerful psychological point, i expect price to kiss 1.32400 for the last time before heading to 1.34000 which is the nearest visible resistance point. depending on where the markets opens on sunday this remains my humble opinion.
2) GBPUSD: This pairs took some serious beating the last 4 trading days after failing to break the 1.54000 psychological barrier. During the week price moved down
close to 1.51000 another key psychological point before moving up due to the positive GBp news. So i expect price to move up to 1.54000 before either breaking that 1.54000 or moving down again to 1.51000. This market has no clear trend according to my EMA 8/21 . so we will watch this market as things unfolds next week.
Also watch out for news this coming week.
3) GBPAUD: This pairs is now in a ‘no man’s land’. price did closed above a good psychological point 1.7000 and also price
is now at a ‘‘3-YEAR HIGH’’ The last time price reached this point was in 2010. so i expect price to moved back to 1.7000 for us to either look for a buy or sell entry. The gbp news did a good job on GBPAUD, eventhore its did a bad job for us .This market is in a clear uptrend
4)EURAUD: this markets is in a strong uptrend as we can see on the daily chart, price closed below a decent psychological point at 1.50000 so i expect price to hit 1.50000 then move down to 1.44404 before either moving up or down. so we will watch this pairs closely next week.
5)AUDUSD: This pair had heavy losses this week as its fell over 380pips from 0.93000 which was both a resistance and a strong psychological point. as we see on friday close that price closed below 0.90000(also a strong support point/psychological point), but price formed an indecision candle at friday close suggesting that we may
Likely see price rotating back to 0.90000 before either moving down or up. This market is strongly bearish.
5) NZDUSD; This pairs gave us a little sad moment after forming a nice/perfect bullish signal at support 0.79300 price then moved down over 150pips making our signal a Loss. at friday close price formed a decent bearish candle at 0.79300 suggesting that price may likely fall to 0.76850. the moving averages are all pointing down
showing a kind of a bearish confluence. i expect price to moved up to 0.79300(the old support) before finally moving down like a rock from an edge.
6) GOLDUSD: This pair has just formed a powerful bullish candle on the daily chart indicating upward movement next, but i expect price to down to 1300.000 being an half way point of the
daily candle before finally moving up to atleast 1345.000(the nearest resistance point). on the 4 hours a bearish signal did formed showing that there may be slight lower movement before the upward run all depending on where the markets open on sunday evening.
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PLEASE ALWAYS REMEMBER THAT 70% OF TRADING SUCCESS COMES FROM TRADING PSYCHOLOGY AND RISK/MONEY MANAGEMENT, WHILE 30% COMES FROM STRATEGY.
I will post the next market wizard interview today, this interview is rich with excellent trading information.
Happy new week to all.
I will post the next market wizard interview today, this interview is rich with excellent trading information.
Happy new week to all.