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Euros To Pounds 10 Minute Chart - 27th March 2009 (0)

Published on Fri, 27/03/09 | Reversal Patterns
EUR GBP 10 Minute Chart - 27th March 2009

EUR GBP 10 Minute Chart - 27th March 2009

This particular chart, which I have taken from this morning’s trading session on the euro pound currency pair, provides a classic example of how to make money scalping in short term currency pairs. The chart is based on ten minutes, and as we can see, at 9.30 this morning, three consecutive shooting star candles arrived, one after the other, indicating weakness in the market and a possible trading opportunity. I took a chance at this point and placed a wide stop loss above my short position, but had I been more patient I would have waited until 11 am for the confirming bearish engulfing candle to arrive, at which point I would have gone short, yielding a nice return. Now the key thing to note, is that it is very easy to take the first signal that arrives and to enter the market too early - in this case I waited for the third shooting star, a clear sign that the market is weak, before entering. The key to success in scalping is to be patient and to wait for the opportunities to come to you, and not to try to force the trades. Just be patient. Scalping is an excellent way to improve you technical analysis skills, and also forces you to be disciplined with your stop loss placement and management. Even if you only practice in a demo account, it is well worth the effort as these signals arrive every day across all the pairs, and if one is not providing anything of interest, simply change to another time frame or another currency pair, and it is an excellent way to ‘paper trade’ by honing your skills - yes I know it is always harder when real money is at stake, but practice, practice, and more practice will make you a better trader!

You can keep up to date with all the latest currency news, live currency charts, fundamental news, and ofcourse if you are looking for a good fx broker or ECN broker, please just follow the relevant link.

Volume Spread Analysis - FTSE 100 16th March 2009 (0)

Published on Sun, 15/03/09 | Reversal Patterns
Volume Spread Analysis - FTSE 100 16th March 2009

I wanted to share this chart with you, as it is a trade I am suggesting for this week, and the analysis is based on a combination of volume spread analysis and Japanese candlesticks - the perfect combination of the Western indicator reinforcing the Eastern Japanese candlestick, and don’t forget you can find the latest [...]


Reversal Candle Patterns - CHF/JPY Currency Pair (0)

Published on Mon, 9/03/09 | Reversal Patterns
Reversal Candle Patterns - CHF/JPY Currency Pair

I wanted to share this chart with you, as it highlights some important issues regarding timing, and in particular the need to be patient and not rush in and open a position as soon as we see a signal. Candlestick analysis is all about waiting for the signal to be confirmed as true or false [...]


Evening Star Candle - Euro Dollar Chart Today (0)

Published on Tue, 3/03/09 | Reversal Patterns
Evening Star Candle - Euro Dollar Chart Today

I just thought I would pop this chart up for you, which is from this afternoon’s trading on the 3rd March 2009, and is on the five minute chart for the euro dollar which was a great signal and an excellent trading opportunity. As you can see on the chart, we had a two [...]


New Live Data, Charts, News And Much More (0)

Published on Mon, 2/03/09 | Reversal Patterns

As I’m sure you know, I have been upgrading all my sites to provide as much information for you, and as well as the regular updates on all the currency pairs, we have recently added a host of new features to the site which I hope you will find useful in your currency trading.
First we [...]


USD/SGD - Weekly Candle Chart 2nd March 2009 (0)

Published on Mon, 2/03/09 | Momentum Patterns
USD/SGD - Weekly Candle Chart 2nd March 2009

Sometimes when we are analysing charts we tend to forget some of the basics, so I thought I would show you a great chart this morning which I hope demonstrates the point. The chart we are looking at is the weekly for the US dollar and Singapore dollar, not one I trade very often, but [...]


Candle Chart USD/CHF - 27th February 2009 (0)

Published on Fri, 27/02/09 | Momentum Patterns, Reversal Patterns
Candle Chart USD/CHF - 27th February 2009

I wanted to show you this candle chart, as again it has some extremely important lessons for us as traders, using technical analysis as our primary trading tool. The first aspect of this chart which I think is a perfect example is the waterfall effect, seen in mid-December 2008. In any down move, increasingly wide [...]


Dollar Yen Daily Candle Chart - 25th February 2009 (0)

Published on Wed, 25/02/09 | Reversal Patterns
Dollar Yen Daily Candle Chart - 25th February 2009

This is a great chart and a currency pair I am trading at the moment, so it is very relevant and has three excellent signals on the daily chart, all of which I have used to identify reversals in the last few weeks. The first of these occurred just before Christmas last year, with a [...]


Continuation Candle Pattern - The Window (0)

Published on Tue, 24/02/09 | Continuation Patterns
Continuation Candle Pattern - The Window

The Japanese have some wonderful descriptions for their candle patterns, and one of these is called the window. In the West we call this a gap up or gap down and whilst not common in forex markets, they occur much more frequently in stocks where prices close in the evening, and then open with a [...]


Classic Reversal Candles - CAD/JPY Currency Pair (0)

Published on Tue, 24/02/09 | Reversal Patterns
Classic Reversal Candles - CAD/JPY Currency Pair

The reason I have chosen this chart, is not because it is a currency pair I trade regularly, but simply because it has two excellent examples of a reversal that we can benefit from, provided we are paying attention and understand these classic candles. If we start with the top reversal at 78.50 on the [...]


Microsoft & Yahoo - Deal Looks Possible Again (1)

Published on Tue, 24/02/09 | Latest Market News

The on off relationship between Microsoft and Yahoo seems to be back on again this morning with the two companies back in talks to join forces and take on the might of Google in the search world. This was a deal originally muted several months ago, but which never came to fruition. Now it seems [...]


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Microsoft & Yahoo - Deal Looks Possible Again

1 comments since 2009-02-24 18:08:00
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Continuation Candle Pattern - The Window

The Japanese have some wonderful descriptions for their candle patterns, and one of these is called the window. In the West we call this a gap up or gap down and whilst not common in forex markets, they occur much more frequently in stocks where prices close in the evening, and then open with a [...]

Display 0 | 1 | 3 | 5 Stories

Microsoft & Yahoo - Deal Looks Possible Again

The on off relationship between Microsoft and Yahoo seems to be back on again this morning with the two companies back in talks to join forces and take on the might of Google in the search world. This was a deal originally muted several months ago, but which never came to fruition. Now it seems [...]

Display 0 | 1 | 3 | 5 Stories

USD/SGD - Weekly Candle Chart 2nd March 2009

Sometimes when we are analysing charts we tend to forget some of the basics, so I thought I would show you a great chart this morning which I hope demonstrates the point. The chart we are looking at is the weekly for the US dollar and Singapore dollar, not one I trade very often, but [...]

Candle Chart USD/CHF - 27th February 2009

I wanted to show you this candle chart, as again it has some extremely important lessons for us as traders, using technical analysis as our primary trading tool. The first aspect of this chart which I think is a perfect example is the waterfall effect, seen in mid-December 2008. In any down move, increasingly wide [...]

Display 0 | 1 | 3 | 5 Stories

Euros To Pounds 10 Minute Chart - 27th March 2009

This particular chart, which I have taken from this morning’s trading session on the euro pound currency pair, provides a classic example of how to make money scalping in short term currency pairs. The chart is based on ten minutes, and as we can see, at 9.30 this morning, three consecutive shooting star candles arrived, [...]

Volume Spread Analysis - FTSE 100 16th March 2009

I wanted to share this chart with you, as it is a trade I am suggesting for this week, and the analysis is based on a combination of volume spread analysis and Japanese candlesticks - the perfect combination of the Western indicator reinforcing the Eastern Japanese candlestick, and don’t forget you can find the latest [...]

Reversal Candle Patterns - CHF/JPY Currency Pair

I wanted to share this chart with you, as it highlights some important issues regarding timing, and in particular the need to be patient and not rush in and open a position as soon as we see a signal. Candlestick analysis is all about waiting for the signal to be confirmed as true or false [...]

Evening Star Candle - Euro Dollar Chart Today

I just thought I would pop this chart up for you, which is from this afternoon’s trading on the 3rd March 2009, and is on the five minute chart for the euro dollar which was a great signal and an excellent trading opportunity. As you can see on the chart, we had a two [...]

New Live Data, Charts, News And Much More

As I’m sure you know, I have been upgrading all my sites to provide as much information for you, and as well as the regular updates on all the currency pairs, we have recently added a host of new features to the site which I hope you will find useful in your currency trading.
First we [...]

Candle Chart USD/CHF - 27th February 2009

I wanted to show you this candle chart, as again it has some extremely important lessons for us as traders, using technical analysis as our primary trading tool. The first aspect of this chart which I think is a perfect example is the waterfall effect, seen in mid-December 2008. In any down move, increasingly wide [...]

Dollar Yen Daily Candle Chart - 25th February 2009

This is a great chart and a currency pair I am trading at the moment, so it is very relevant and has three excellent signals on the daily chart, all of which I have used to identify reversals in the last few weeks. The first of these occurred just before Christmas last year, with a [...]

Classic Reversal Candles - CAD/JPY Currency Pair

The reason I have chosen this chart, is not because it is a currency pair I trade regularly, but simply because it has two excellent examples of a reversal that we can benefit from, provided we are paying attention and understand these classic candles. If we start with the top reversal at 78.50 on the [...]

Hi and Welcome

Welcome to another of my sites which is being upgraded to the new layout. The site will be fully up and running by tomorrow so I hope you will come back then when the site will be fully operational. Each day the site will be updated with a chart of the day, along with an [...]

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