EURUSD 29th June 2015 Monday Gap Analysis

  Here is the thought process and the theory behind this EURUSD Monday-gap analysis – Supply, Demand, Price and Speculation. Did the market close the opening gap through the course of Monday or the week. I would say no, the market maintained the gap through the course of Monday and the whole week. Orders were processed … Read more

Supply, Demand, Price and Speculation

  Interesting thought. 99% of traders would say that price is the most important factor in trading. What if I say that direction and movement of the price is more important regardless of the current, starting or end price of the wave. Let’s put this thought into perspective. Tourism is a small portion of the … Read more

USDCAD Bearish Shark Short Trade – 30th June 2015

  A bearish Shark pattern has been completed on USDCAD 4H timeframe. Shark is one of the most probable patterns as the completion D point naturally falls at a significant level. In this case D point is the 3rd retest of the 1.25620 level. The beauty is that even if price fails to reach the level and … Read more

CADJPY Trade Idea At a Key Confluence Zone – 29th Jun to 4 Jul 2015

CADJPY price is currently in a high-confluence reversal zone. There are several factors to suggest that we may expect a reversal of the current bullish trend. Here’s the top-down analysis. Weekly Chart Overall weekly trend is bullish. In the context of higher timeframes, price has moved only sideways in a rangebound market since 2013 (range zone marked … Read more

GBPUSD Chart Analysis – June 22nd to 26th 2015

    GBPUSD has been in a strong uptrend for the whole of June right from the start of the month. On hindsight the previous downtrend had retracements back and forth towards key fibonacci levels. Not that we could have traded them, because the fibonacci levels within a trend could be seen only after the trend … Read more

5 Things to Avoid As A Forex Trader

You may deny it, but in reality we all have’em – ‘Bad Habits,’ specially when it comes to trading forex. I have outlined below some of the main  bad-habits that I had to overcome personally, in order to improve my trading. 1. Guess Work This is the mother of them all. Its important to note … Read more

History of Harmonic Patterns

Harmonic Patterns

This is a short post about the history of harmonic trading and patterns. Why do these patterns appear and why are they so popular? Well, its a question like why do the pyramids exist and why would someone build such massive structures, and who did build them in the first place? In the same context, … Read more

An Introduction to Harmonic Trading

What is Harmonic Trading? Sometime ago, I saw couple of videos where this trader draws these strange looking triangles on a chart and he even went on to name these patterns with names of different animals including the butterfly, which in fact resembled the wings of a butterfly. Obviously, I was curious to say the least. … Read more

Forex Pullback Trading Strategy

I still remember the days when I was first introduced to forex trading. I started learning forex like a mad scientist. Obviously, the first indicator I learnt was the Moving Average. Then I looked at a moving average cross over strategy. I was closely observing two moving averages plotted in a chart, then I said … Read more

5 Myths About Forex Scalping

  Forex scalping and Day Trading Forex scalping is the most controversial style of trading in the forex world. Mainly because forex scalping bears more similarities to gambling and addictive in nature. Hopefully, this post will clarify some of the misconceptions surrounding forex scalping. One might think that I’m promoting low R:R, highly risky short term amateur style trading. … Read more