Crude Oil Technical Analysis

This analysis is of light sweet crude oil CME Group Crude oil has been following its upper channel and been edging upwards since July. While daily fluctuations are common for oil due to political developments, long term technical analysis seems more stable for oil. The MACD indicator has produced bullish signals twice without a bearish one, signalling a strong upward trend. Stochastic seems to be more volatile; it has produced 8 bullish...

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A Day in the Life of a Professional Forex Trader

Traders who become successful enough to produce consistent profits graduate up to trade professionally and develop daily routines. However, this routine is quite different than most amateur traders would imagine; a large number of professional forex traders execute a handful of trades every month and frequently take time off the market. This article explains the routine of a professional forex price action trader, which is a simplistic...

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AUD/USD Technical Analysis

Fundamental: AUD/USD pair has been trading at 1.045 and is looking to move up after the losses it suffered last week. Pressure on the US Dollar is affecting commodity currencies, which has brought the Australian Dollar down. USD has gained traction lately on positive economic data, and the chances of a monetary stimulus in the US have dimmed. There is nothing significant on the economic calendar for AUD for the coming week, so all eyes...

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How to Develop a Profitable Forex Trading Mindset

Developing a successful trading mindset is perhaps the most important step to being profitable in the long term. Most traders fail to master their own psychology and lose money by succumbing to their emotions. After all, there is a famous saying in the trading world: “Bulls make money, bears money, but pigs get slaughtered.” This saying displays greed, a failure to develop a profitable mindset. This article explains how your psychology is the...

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GBY/JPY Weekly Outlook

The GBP/JPY spent the entire week locked in a tight range as the Japanese central bank decided to hold rates steady at zero. Prime Minister Yoshihiko Noda’s coalition government survived a no-confidence motion on Thursday, brought about by six opposition parties, over his proposal to double the sales tax. The JPY faced a week of poor economic reports, with first-half trade deficit jumping to a record high of 2.5 trillion yen ($31.78 billion), amid...

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EUR/GBP Weekly Outlook

The EUR/GBP started the week with markets pinning high hopes on the European Central Bank initiating fresh stimulus measures to provide a comprehensive solution to the region’s debt crisis. But after the disappointment on Thursday, when the ECB offered no guidance or assistance in its monthly meeting and statement, traders became restless and hammered the euro below the 0.785 mark against the pound sterling. Mario Draghi said the ECB was likely...

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Low Frequency vs. High Frequency Forex Trading

Forex (currency market) is the largest financial market in the world, currently trading $4 trillion daily. These trades happen 24 hours a day, 5 days a week; making it one the most attractive markets for traders. This has led to two types of traders: lower frequency traders with a long-term perspective, and high frequency trader who have an intra-day perspective. Low Frequency Trading Low frequency trading involves a trader or an investor...

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USD/JPY Technical Analysis

In the 4 hour timeframe, we have seen a resistance level of 78 which, if broken, will give a sell signal. This may allow the price to go as low as 77.66 experienced earlier on the 1st of June, and 77.50 in extension. Therefore, the bearish channel is reinforced and a bearish outlook shall remain until a breakout of 78.80 is experienced. The hourly timeframe shows that a narrower bearish channel has already been broken. Earlier,...

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S&P 500 Technical Analysis

The 4-hour view of the S&P 500 shows a bullish equidistant channel starting from roughly May 20. It may be possible that the price hits the resistance levels of 1413 and 1424, but a reversal to the lower end of the channel is also possible. A bullish sentiment is likelier as one can notice that the bullish rallies are oscillating higher and higher while the bearish ones are getting smaller. In the S&P500 daily...

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GOLD Technical Analysis

Gold has largely been falling since its peak in March, and since mid-May it is hovering between a horizontal price channel. Since the start of August, it started ascending from the midpoint and is currently rallying at 1615. A rally till the upper level of the channel at 1631 is possible. MACD has been bullish since the past few weeks, but its lines are coming closer to converge, suggesting that a sell signal may be produced soon. Stochastic...

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EUR/USD Technical Analysis

The euro dollar pair is following the equidistant chart pattern in the 4-hour view. The trend line has hit the channel 4 times so far, indicating that the pattern is strong, which is also supported by the 3 month long duration. Recently, the line hit the channel at 1.244 and proceeded to fall as expected, albeit meeting some resistance. More resistance is likely to be met at 1.225, and if that is broken, the trend line is expected to...

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Forex Over Trading

Over-trading is a common mistake by Forex traders and it can be the biggest threat that can kill your trading account. It does not require experience as market participants. Once you commit mistakes, it makes huge impact and differences. What causes bad trades? These can include indecent opportunities, negative environment, being impatient and lack of discipline. Forexover trading mostly happens with those traders without proper plans and...

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