After a while It’s been a while since my last post. It’s because I have been quietly developing a custom indicator to spot directional bias as well as subtle changes in momentum for both directions. Let me just say, the results are amazing in testing and you can have a peak at it in this … Read more
It has been a while since my last update on this blog. Due to obvious reasons, I have been quietly watching the markets from the sidelines. A month after trump trumped the whole world with a surprise, forex markets have not yet fully absorbed or adopted to new conditions of the global currency. Post election volatility This chart is pretty much … Read more
If you are one of those precious metal investors or traders who have bought into the idea of an unstable US Dollar, may be your moves are premature to say the least. Buying precious metals is a good investment at any economic condition. Only if you do it as a long-term investment. But for trading purposes, weakness … Read more
All major forex pairs are quite naturally influenced by the US dollar. The problem with the current market conditions is that the US dollar is in a ‘long term’ corrective structure. An important characteristic of ‘long term’ structures is that more often than not, it embeds impulsive-looking waves to both sides on shorter timeframes. Hence, failure … Read more
Wave analysis is the new trend in technical analysis. Well, it’s not new but the spin off version from the original Elliott wave theory has received much credibility in the recent past. Specially among the Tradingview community. Tradingview might not represent the complete demography of traders. But I believe it does have a large user base of new retail traders. So any effective system, strategy … Read more
Last week was a great example of why sometimes it’s great idea to stay out of the markets. I was more than happy to watch it from a distance. Simply because I anticipated this dreaded sideways price action to continue. I don’t really know for how long, but watch the market carefully until crucial evidence is there to support … Read more
Whatever happened to volatility. It’s amazing how price can get squeezed in one place, even with high impact news hitting the wire. There is only one conclusion. All major economies trying to make a move in the same direction. But if that is the case, there is only one outcome – more sideways price action. GBPUSD … Read more
Learn pips before making them You will be absolutely dumbfounded if you knew how many traders are oblivious to terms like margin, leverage, lot size and even pips. Let alone calculating them, some don’t even know how these faculties affect a trading account. I know, it can be daunting when you first hear these words and their definitions. … Read more
EURUSD – sideways continues Yes, you guessed it right. EURUSD has gone to extreme sideways-conditions, to an extent that its highly unlikely to return to normal conditions anytime soon. Overall Daily corrective structure is still in a balance between a triangle and a zigzag. Most of all the price has been stalling back and forth in a tight range … Read more
Cable recap… Hey pips! Hope you bagged plenty of pips last week. Not that the cable was trending. Far from it. However, the market is never short of opportunities. GBPUSD was not in my prioritized list of instruments for trading yet. As ya’ll know, the cable is in a huge correction since July. Nevertheless, if … Read more