255 PIPS ON OFFER FROM NZD CAD THIS WEEK - forex mutant trading system

255 PIPS ON OFFER FROM NZD CAD THIS WEEK ~ forex mutant trading system

A Large Range Setup appears to be forming on the Daily Chart of the NZD CAD that could offer us up to 255 Pips this week. The Support Boundary has already been formed at the 0,8335 area and once we see continued gains for the CAD, this will take us back to Support and complete the Resistance Boundary and the Range.

The overall setup can be seen in the graph below. The pattern of movements that have taken place in the last few months appears to indicate the formation of this large Consolidation in the days ahead.

POSSIBLE RANGE SETUP - DAILY CHART

If the pair continues to decline in the next few days, the Resistance Boundary would be formed at 0,8855 to complement the Support area at 0,8335.

RESISTANCE & SUPPORT BOUNDARIES - DAILY CHART

With a distance of 255 Pips from the current market price to the Support area, Swing Traders could realize a large trading gain once the pair gets going again. This would follow the current sideways movement now taking place on the Daily & 4 Hour Charts.

EXPECTED TRADING GAINS - DAILY CHART

PENNANT SETUP - 4 HOUR CHART

When this downtrend finally resumes, we will actually be continuing the breakout from this Pennant Setup. The Support was initially broken with a Bearish Candle and has been followed by a pull back and U-Turn as the market "tests" the broken Support. Once this is done and we start to see additional bear candles, short positions can be opened as long as our Entry and Stop Loss Placements are correctly done according to the Trade Sheet for Consolidation Breakouts from the Trading Manual...

It is fairly easy for us to spot Consolidation Setups and trade them after they have been formed across all time frames. However, the challenge has always been to spot the signs that they are being formed so that we can quickly adjust our strategies from a Trend Trading one to a Consolidation Trading strategy. 


So how do we trade this?


There are several technical factors in the currency market that tell us when these setups are being formed. Many of them relate to how long a trend has been in place before it begins to move sideways or whether we have recently broken a major Trend Line. These and many other factors that lead to these setups can be found in Section 4 Part 2 of the Manual...

As soon as you spot these factors at work on your charts, you can begin drawing the expected lines of Support and Resistance. Once the distance between these boundaries is far enough to allow for trades of between 100 and 200 Pips - comfortably - strong gains can be had as long as the trade meets the requirements set out in Part 3 of the Manual...

The key is to now wait on the appropriate signal on the Daily Chart to start taking advantage of the move to Support and the breakout from the 4 Hour Chart Pennant.

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70 PIP TRADE DAY TRADING STRESS VS SWING TRADING BLISS - forex turtle trading system pdf

70 PIP TRADE DAY TRADING STRESS VS SWING TRADING BLISS ~ forex turtle trading system pdf

The recent 70-Pip trade made on the AUD NZD highlighted the main challenges faced by the typical Day Traders using the Lower Time Frames. This trade required entry at the Bullish Candle Signal that started a breakout from a Range and a large Pennant Consolidation on the Daily Chart. However, Day Traders would have encountered a more volatile picture on the smaller charts that would have severely limited their profitability during this Bullish breakout.

The charts below show the breakout that started the trend that provided the trading gain. Entry took place immediately at the close of the Bull Candle with the Stop Loss and Profit Targets set according to the rules of the strategy.

DAILY CHART - SIGNAL

DAILY CHART - TRADE RESULT

This was a simultaneous breakout from a large Pennant Consolidation and a Range setup at its Resistance.


DAILY CHART- TRADE SETUP

In contrast to this fairly straightforward setup, many Day-Traders on the 30 Minute Chart would have faced a more challenging scenario. As we can see in the chart below, the Bullish Candle on the Daily Chart was actually formed by a Range breakout on the 30 Minute Chart.

30 MINUTE CHART

Many Day Traders would have avoided entry here, however, given the size and volatile nature of the candle. The large wick on that candle would also have suggested the end of the breakout, while the subsequent reversal and sideways pattern limited any possibility of a profitable trade. 

  
Nevertheless, a trading possibility eventually appeared on this time frame in the form of another Consolidation breakout.


30 MINUTE CHART- PENNANT TRADE 

Entry could have taken place at the Bullish Candle that broke Resistance with the Stop Loss at the Support area. Unfortunately, the breakout for this would have been limited to only 15 Pips ahead of the reversal a few hours later. For scalpers, this 15-Pip gain would have been a good trade, but for others holding out for more, breaking even or incurring a small loss would have been the result. Yet for others who may have held out in hopes of a turnaround, a total loss on the trade would have been suffered.

Following this period, the currency began to move sideways in a volatile pattern, offering very little in the way of tradeable setups. 

30 MINUTE CHART - VOLATILITY

Those aiming for small Pips may have been able to scrape out a few more to add on to the 15 Pips. However, the sharp reversals and spikes would have made this a very stressful, losing endeavor. Others aiming for more would also have been left without any opportunity to compensate for the previous losses.

The results from this type of trading over the long-run are often lower than expectations despite the attraction of the smaller charts. The greater volatility and the need to continuously monitor the market at all hours of the day can take their toll on a trader. For Swing Traders on the other hand, only a few hours are spent trading and analyzing the market prior to entry. Instead of aggressively battling a large number of candles at a time, only a few candles stand in the way between entry and profitability.

DAILY CHART - STRESS FREE TRADING

Trading can be a lot more enjoyable and profitable than what many are led to believe. If this is done using the higher time frames that reward the trader rather than the smaller time frames that reward the broker, long-term gains will be made.  Spikes that come out of no where to take out our Stop Losses and unexplained pullbacks that reduce our profits can all be avoided.

By using my Methodology and emailing the Code at the end of the Manual and you will also benefit from;

• Detailed Trade Setups sent 30 Minutes before Entry;
• Daily Analysis of Currency Pairs;
• Weekly Technical Analysis on Specific Topics;
• A Currency Trading Experience focused entirely on Making Money;

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Swing Trading vs Day Trading Has the Debate Ended - omni forex trading system review

Swing Trading vs Day Trading Has the Debate Ended ~ omni forex trading system review

Within the context of the ongoing debate between Swing Trading and Day Trading, these early results from my Methodology appear to tip scale decisively towards Swing Trading. Only 7 trades have been done so far and to date, the results have already beaten the Year-to-Date returns of 80% of the Top Traders Ranked by BarclayHedge. With only 9 trades left for this strategy to generate a 100% return for my clients (sadly, cost of Manual will go up accordingly- see Table), Day Trading may soon by a thing of the past as you spend less time trading and more time earning.

Currency Trading can be a very lucrative means of earning income on a short and long-term basis. The most popular way of doing this by traders has been to profit from the intra-day changes in a currency’s value, during the most liquid trading sessions of the day. However, given the difficulty of consistently modelling the random price behaviour of a financial asset class at this micro level, sustainable success from this approach can be an elusive goal. Instead, if traders focused on the clearer trends provided by the Larger Time Frames, they can achieve of more consistent rate of success.

Swing Trading takes advantage of the clearer and more reliable breakout signals and trends of the Daily and 4 Hour Charts. It is a style of trading that is similar to Long-Term Trend trading in which positions are taken based on the longer-term fundamental value of a currency. However, given the time horizon of Swing Trades - 2 to 7 days- some of these trades will either be in line with that value or diverge from it in the short-term.

Among the benefits of Swing Trading are;

• Stronger Trends with Larger Pips per Trade;
• Accuracy of Signals, with fewer False Breakouts;
• Predictable Times for Analysis and Trade Execution;
• Fewer Trades needed for Large Rates of Return;
• Compatibility with a non-Forex 9-5 Schedule;

This style of trading also allows traders to sidestep the volatility surrounding the release of macroeconomic data each week. Several important reports related to the major currencies can provide an indication about market direction during the day. Nevertheless, due to the subjective and conflicting interpretation of these by traders, large spikes in prices tend to appear, taking out small Stop Losses and eroding the Day Trader’s profitability.

In addition to the significant personal benefits, Retail Traders will also be better able to offer their services to Prop Trading houses and Hedge Funds that want this style of trading - earning very large commissions in the process. Based on these early results...

RATE OF RETURN FROM METHODOLOGY

...this should not be hard to do.

 

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Duane Shepherd

(M.Sc. Economics, B.Sc. Management and Economics)

Currency Analyst/Trader

Contact: shepherdduane@gmail.com

Twitter: @WorldWide876

Facebook: DRFXTRADING
Website: www.drfxswingtrading.com

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800 PIPS ON OFFER FROM GBP USD DECLINE - trading system forex octopus

800 PIPS ON OFFER FROM GBP USD DECLINE ~ trading system forex octopus

Having formed a small Pennant just below the major Resistance of a larger Pennant, the GBP USD could be headed towards the Support area some 800 Pips away. If we see a strong bearish signal below the Support of this smaller Pennant, traders can expect a big payday in the weeks ahead.


DAILY CHART- LARGE PENNANT

• Formed following the end of the safe-haven buying of US Dollars during the Financial Crisis;
• Has now pulled back to the Resistance of the Pennant following a breakout;
• Could break Support to continue the new Downtrend in favour of the USD to reflect the end of Quantitative Easing;

This downtrend has been in place since July this year after forming the high of 1,7190.


DAILY CHART - DOWNTREND

  



If this downtrend is going to continue, we will need to see a convincing bearish breakout signal following the test of the Support of this smaller Pennant.


DAILY CHART - PENNANT SETUP

 Over 800 Pips of profits would be offered during this breakout. Some traders will enter and hold their position for the entire duration of this decline, while most will take gains and re-enter according to their profit goals and holding period constraints. But given that these trends have...

1. False entry signals;
2. Pullbacks & small Consolidations;
3. Weak Stop Loss areas;

...how do you determine when to enter and where to place your Stop Loss to protect your trade from the natural waves of the market? How do you know which time frame to follow in case the trend starts to reverse unexpectedly before that Support area is hit?

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Currency Analyst/Trader

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Twitter: @WorldWide876

Facebook: DRFXTRADING 

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RBNZ Cuts EURO NZD Drops PIPS Lie Ahead - simple forex trading system that works

RBNZ Cuts EURO NZD Drops PIPS Lie Ahead ~ simple forex trading system that works

After moving within a 400-Pip Range since the end of March this year, the EURO NZD has finally broken this boundary with a break of Support following the increase in interest rates by the Reserve Bank of New Zealand (RBNZ). The pair fell by more than 200 Pips within 24 hours of the decision to form a strong bearish candle below the Range, indicating the start of even stronger gains for the Kiwi in weeks to come.

THE RATE CUT

The RBNZ took the decision to raise the official cash rate to 3.25% from 3.00% as it seeks to stave off inflationary pressures that have begun to threaten the economy. In justifying the move, RBNZ Governor Graeme Wheeler stated that it was important that inflation expectations remain contained and that interest rates return to a more neutral level. Naturally, in an environment of homogeneous interest rate policy among the major central banks, the increase led to strong demand for the Kiwi against several of its counterparts including the US Dollar, the Aussie Dollar and the Great British Pound. Continued strengthening is expected for the Kiwi against these currencies, but the setup against the Euro appears to be very promising right now for aggressive Swing/Weekly Range traders.


RANGE BREAKOUT

Looking at the chart below, we can see the bear candle that closed below the Support level following the rate decision. This is the type of signal that traders look for to open a position for a strong breakout, especially when it is sync with the existing direction of the trend.

DAILY CHART- EURO NZD BREAKOUT

Most traders would probably starting entering short at this point, with the Stop Loss placed above the Support which would now act as Resistance to protect the trade. Entering early often gives traders a good opening price in case the market moves quickly in the expected direction. However, there is always the possibility of an unexpected reversal known as a False Breakout whenever we have a breakout signal from Consolidation. 

Given this possibility and the fact that the last candle led to the Weekly Range of the pair being reached (see Trade Manual), it would be better to wait until another bearish signal appears after a brief pause or rally that tests the Support.

DAILY CHART - EURO NZD - POTENTIAL PULLBACK TEST

This pause/test can either take the form of a rally followed by a strong U-Turn or a move sideways to form a small consolidation before breaking short. If either scenario unfolds, the ultimate target for this new downtrend would be 1,4855 -the Breakout Equivalent of the Consolidation (see Trade Manual). Along the way, several areas of past Support will be hit, allowing for short-term profit-taking as well.

Lets be patient, see what unfolds and take advantage of profitable setups when they appear.

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38 PIPS GONE IN 277 PIP EURO USD TRADE - forex end of day trading system

38 PIPS GONE IN 277 PIP EURO USD TRADE ~ forex end of day trading system

The EURO USD has been steadily declining over the last several weeks following the turn at the Resistance of its large Pennant Consolidation. There have been very few pauses or pullbacks in this strong downtrend that now has its sights set on the Support boundary of this Pennant, 350 Pips away. Trading these slow trends can be very profitable and with a short time remaining before that boundary is hit, the current trade opened on this pair could provide a very large return in October.

The recent pullback at the Resistance of this Pennant setup can be seen in the Daily Chart below. This large Consolidation was actually formed following the sharp gains for the USD during the period of risk-aversion related to the Financial Crisis.


DAILY CHART - PENNANT CONSOLIDATION

DAILY CHART- OPEN TRADE

To take advantage of this strong trend, entry took place shortly after the currency pair broke a Counter Trend Line (CTL) to resume the trend. The Stop Loss was placed at the Resistance of the Pennant on the 4 Hour Chart and the target set to just above the Support Line.


4 HOUR CHART

As you can see from this chart, someone could actually enter another short position now following this recent U-turn and strong Bearish Candle signal. The Stop Loss would be place above the high of this CTL break.

The strong inverse correlation between the EURO USD and the USD CHF can also be used to capture additional profits. The USD CHF is now headed to an Outer Downtrend Line in a slow steady uptrend that could provide some additional pips when that target is hit.


USD CHF - RALLY TO OUTER DOWNTREND LINE 

DAILY CHART - UPTREND 

These targets could be hit within the next two weeks and can provide large gains for the patient Swing Trader.

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Currency Analyst/Trader

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Twitter: @WorldWide876

Facebook: DRFXTRADING 

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