Free Forex Signal 10/11/2006

Eur/Usd
Eur/Usd is currently at 1.2862. From my calculation Eur/Usd has an upper range of 1.2880 - 1.2950. Possible trade is short Eur/Usd @ 1.2880 or better.

Gbp/Usd
Gbp/Usd is currently at 1.9102. As stated in my other blog, possible trade is short Gbp/Usd @ 1.9100 or better wih upper range of 1.9100 -1.9150

Aud/Usd
Possible trade short Aud/Usd @ 0.7710 or better. Already gone down now. Btw i shorted from 0.7751. Its a good trade so far.

Forex Trade Review

Last Friday, Non-Farm Payrolls is out. This is like fuel for Usd and it effect all pair especially eur/usd and gbp/usd. Last friday the report came out a mixed bag. People are confused and the price swing up and down. I was on the losing side of the trade but because of the swing at certain point I was 30 pips up but because Marketiva usually lock out during news hour, I finally end up at a lost. Well its forex anyway. If you dont lose in forex you dont feel the thrill.

Anyway Im going to review few pairs. Maybe some of you can find a trade from my review. As for me I am currently out of the market waiting for it to come to sense. Currently all pairs are at extreme oversold or overbought.

Eur/Usd
Currently at 1.2532 after a drop of almost 200 pips. Currently its on a thin downtrend with a possible target of 1.2450. For those of you who are already on a short position, you may hold the position with trailing stop loss of your choice. For me I will only consider an entry at 1.2450, that will depend on the strength of the momentum.

Gbp/Usd
Currently at 1.8540 and just like eur/usd it drop like a rock during NFP report out. Possible target is 1.8200. Looks like a retrace coming soon. Just watch the trend and momentum for possible entry. I will be looking at this one.

Usd/Cad
Currently at 1.1330. My last signal manage to get me 30 pips. Too small for the effort. Currently going up with possible target of 1.1450. Overshot all indicators. Possible retrace at 1.1360. I will be watching this one.

This is my review. Its not a trade recommendation. Be very carefull on your trade coz forex is a risky market. If you are not sure better stay out until the market make some sense. Happy trading.

Forex Signal

USD/CAD
usd/cad is currently at 1.1270 with a high of 1.1305. Looking at the chart, it has lost its momentum eventhough the uptrend is still intact. It may hover around 1.1240 - 1.1310 for a while.
Possible Trade:
Short usd/cad @ 1.1300 or better.
Target: 1.1180, 1.11201, 1.1080.
Caution:
If usd/cad overshoot 1.1315, then its possible that it will go long. This is because usd/cad is currently going uptrend. It will be constantly making new high.

555 Forex Trading System

FOREX TRADING SYSTEM

This forex trading system is part of my full forex trading system. I post it just to help out new traders to develop their own trading system. This forex system can be use on all pairs. It is far from perfect but can give you an idea how to trade and develop your own forex trading system. Maybe in the future if you manage to improve this system you may want to share with me. Anyway here it goes.

Time Frame : 4 hours
MA's : SMA5 or SMA8 which ever suits you better, SMA55
TSF : Period=55
Bollinger Band : MA=simple, Period=55, Multiple=2.0
Stochastic Slow : Period = 10,3,3, simple, simple
Stochastic Fast : Period = 13,3 Exponential

FOREX CHARTS

For the 1st chart I use usd/jpy pair for 4 hour timeframe. Remember this forex system is designed for 4 hour time frame but can be use on all pairs. In this forex system, MA8 (Red) and TSF55 (Blue) is the indicator for long or short trade. When the red is above blue = long and vice versa. BB55 and SMA55 is the target. Both the stochastic is for confirmation on trade position.

When price is at BB55 either at the top or bottom and both stochastic is showing extreme value, it may signal a reversal. A confirm reversal is when price broke the red and blue line. The price itself is the ultimate indicator. Once the price broke the 2 lines, find the best possible entry. Normally the best entry is when the price is at the blue line. If after you enter the trade, and the price gain momentum in your favour just let it run and ride it till its finish.

Below is the explaination for the above chart

1. Price spike out of BB55. As mentioned before, BB55 acts as targets. In this case usd/jpy already reach its target based on this system but the momentum is still strong based on distance of Red and Blue line.
2. Price spike out of BB55 again but this time the price close below the Red line. This indicates the momentum is dead and a reversal coming soon.
3. Ideal entry. Red below Blue line indicates a short position. Price is at the Blue line. Short now and let it run until it meet BB55 at the bottom
4. Price went through BB55 and then goes flat at this point. It is making its way back into BB55 and a flat Red line indicating the momentum is dead and a reversal is coming soon. At this point the entry for long position is the lowest price inside BB55.
5. Price spike out of BB55 but cannot make new high. This is where I exit and enter a new short position. Let it run until the momentum is dead.

If you look at point 1,2,3 and 5. All are high point and all of them is higher than the previous high. This is and indication that usd/jpy is actually going up but as forex moves in waves we sometimes get lost and fail to see the big picture. In this case what ever you do, follow the trend and always remember that the big picture is usd/jpy is going uptrend. Be prepare if the market suddenly shoot up. Remember always use stop loss properly. Forex is a risky market, do manage your risk properly.

Free Forex Signal

Everybody likes free things. So do I but I like to give free things as well. In the future I will post Free Forex Signal in this blog. Before anyone trade on those free forex signal, I would like to warn you that I will not take responsibility on any profit or lost by using my free forex signal.

If anyone here like to see what kind of signal I give here is one example . Btw in that signal gbp/usd gave me over 300 pips. Happy trading.

Marketiva Scam????

Read some very interesting review on marketiva. It seems that some people classified Marketiva as scam. I dont mind since im still using their $5. To me marketiva is a learning platform. Btw one review for you to read:

"I would not trust any company with no background info. I had asked to see who or what is behind the company before depositing funds. No response. I believe there is some type of long term scam here. Something is not right compared to other brokers. Also it is a bit strange that you can open an acct. with no I.D. Last but not least, beware the glowing reviews of Marketiva spread out on forums. Most if not all of these posts are made by actual Marketiva admins posing fraudulently as investors. You can easily pick them out. They are the ones using obvious marketing slogans and pushing the free $5 for joining. The $5 is just a ploy to sucker in the new trader.The rest of the posts are from those promoting their referral links.I'm of the opinion that Marketiva is a total bucket shop. Like a ponzi, the money from losers lines the pockets of Marketiva and helps pay the few that make a profit. I seriously doubt any investor's money actually makes it onto the market. 95% of traders lose on average. This makes for a profitable business model especially when the investor is essentially trading on a demo account with real money. They know you are very likely to lose, so your money goes into the bucket and you are left blaming a bad market when you lose when in fact, your money never even made it there.Ok, thats enough ranting. Beware Marketiva and do your own research and due diligence checks on any broker you wish to join.Best of luck out there!"

Trend, Momentum and Timing

When doing technical analysis on forex. There are 3 factors that need to be properly recognise and use. They are trend, momentum and timing.

Trend
Trend is the tendency of movement to a particular direction. When it is uptrend, the price will move up and vice versa.

Momentum.
Momentum is the strength of movement. The stronger the momentum the stronger the move. When the momentum is finished, it will reverse.

Timing
Timing is when u enter the market. Enter only when the profit to risk ratio is good. Other than that better stay out.