Forex Analysis on Majors – Weekly Summary February 3
| February 3, 2012 | Posted by admin under Forex Technicals |
Forex Analysis on Majors – Weekly Summary February 3 Cory Mitchell, CMT As the week of February 3 comes to a close we look to what is expected for next week, and what transpired over the last week of trading. Forex analysis on majors is the focus: EUR USD, GBP USD, CHF USD and USD…
EUR USD triangle on 15 min chart
| February 2, 2012 | Forex Technicals |
EUR USD triangle on 15 min chart EUR USD triangle (turquoise lines) has formed heading into the European session. It is most visible on the 15 minute time frame. Breakout target is 65 pips. Downside breakout occurs if the pair drops below 1.3157. Target 1.3092. Stop 1.3191. Upside breakout occurs if the pair moves above…
Forex Update: AUD USD, GBP USD and EUR USD
| February 2, 2012 | Forex Technicals |
I recently covered three forex pairs on the blog. Here is a forex update on all three given the last couple days action : AUD USD, GBP USD and the EUR USD. Forex Update – The AUD USD was last covered in post which looked at an ascending triangle pattern. In that post it was…
Applying Fibonacci to Stock Market Patterns
| February 1, 2012 | Intro to Trading, Techncial Analysis Tutorials |
Applying Fibonacci to Stock Market Patterns It’s easier than you might think! February 1, 2012 By Elliott Wave International Patterns are everywhere. We see them in the ebb and flow of the tide, the petals of a flower, or the shape of a seashell. If we look closely, we can see patterns in almost everything…
GBP USD heading higher
| January 31, 2012 | Forex Technicals |
It looks like the GBP USD could be heading higher. The pair found support above the ascending trendline of a massive triangle pattern. GBP USD Weekly Chart Source: Forex Yard Strength over the last couple days has pushed my proprietary indicator into the “moving higher” zone and the downward sloping trendline within the triangle was broken…
EUR USD found a bottom?
| January 30, 2012 | Posted by admin under Forex Technicals |
I am back from my time in the sun, and having not checked email, facebook, twitter or the news for over a week, I find the markets moving upon my return. Stocks have been pushing higher, in-line with the EUR USD correlation, as the Euro has also been moving higher vs. USD. The EUR USD…
Credit Crisis: Are We Set Up for The Perfect Storm?
| January 30, 2012 | Posted by admin under Economic Data, Food for Thought |
Credit Crisis: Are We Set Up for The Perfect Storm? Robert Prechter discusses what’s backing your dollars Originally published January 26, 2012 By Elliott Wave International In this video clip, taken from Robert Prechter’s interview with The Mind of Money, Prechter and host Douglass Lodmell discuss “real” money vs the FIAT money system, and what is…
Probabilities Part 2: Scoring the Probabilities in Trading
| January 29, 2012 | Posted by admin under Food for Thought, Intro to Trading |
Probabilities Part 2: Scoring the Probabilities in Trading By Cory Mitchell, CMT Part 1: Probabilities: What are the odds probabilities in trading are calculated wrong? introduces probabilities and some potential issues – namely Availability Bias. At the end of that article the following question was posed: A man likes two women, and is going to ask…
Technical Indicators: A Love-Hate Relationship
| January 29, 2012 | Posted by admin under Intro to Trading, Techncial Analysis Tutorials |
Technical Indicators: A Love-Hate Relationship Part I: How One Technical Indicator Can Identify Three Trade Setups January 27, 2012 By Elliott Wave International Trading using technical indicators — such as the MACD, for example — can do one of two things: help you or hurt you. Elliott Wave International’s Jeffrey Kennedy explains what he loves…
Learn to Find Trading Opportunities Using Fibonacci in This Free eBook
| January 28, 2012 | Posted by admin under Intro to Trading, Techncial Analysis Tutorials |
Elliott Wave International has just released a free 14-Page eBook, How You Can Use Fibonacci to Improve Your Trading. Created from a $129 two-volume set, it’s available free until February 6. Learn more here. Dear Trader, You may be missing trading opportunities that are staring you in the face. The charts you look at every day could reveal…
On Holiday
| January 19, 2012 | Posted by admin under Site Info |
Hello All, It is time to get out of the cold and take a vacation. I will be getting some sun, and heading to Central America till January 30. During that time it is unlikely there will be any site updates/posts, and I will not be checking or responding to emails (that is going to…
Probabilities: What are the odds Probabilities in Trading are calculated wrong? Part 1
| January 15, 2012 | Posted by admin under Food for Thought, Intro to Trading |
Probabilities: What are the odds probabilities in trading are calculated wrong? Part 1 By: Cory Mitchell, CMT Probabilities explain the chance of something happening. Probabilities in trading are often discussed, but humans have an abysmal capacity to understand and calculate probabilities. Our minds are just not hard-wired for it. We love to assign probabilities though,…
Five Fatal Flaws of Trading
| January 13, 2012 | Posted by admin under Intro to Trading |
Five Fatal Flaws of Trading January 13, 2012 By Elliott Wave International Close to ninety percent of all traders lose money. The remaining ten percent somehow manage to either break even or even turn a profit — and more importantly, do it consistently. How do they do that? That’s an age-old question. While there is…
AUD USD: Ascending Triangle Chart Pattern
| January 13, 2012 | Posted by admin under Forex Technicals |
There is an ascending triangle chart pattern on the AUD USD daily chart, which is very near resistance. Source: ForexYard on MT4 I have shown two potential drawings for the ascending triangle chart pattern, marked by the red lines. I prefer the smaller pattern which is highlighted by the blue box. Here is a potential entry, stop…
New Year, New High Hopes for Stocks
| January 13, 2012 | Posted by admin under Economic Data, Stock Market Analysis |
If you read Cory Mitchell’s recent article–Where is the Stock Market Going In 2012–you will have some idea of what he expects this year. The following article looks at a different angle: the disconnect between media and stock market performance. New Year, New High Hopes for Stocks January 11, 2012 By Elliott Wave International You…
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