The Crude (US OIL 0.55% ) has been consolidating on the wave 4 movements for some time, the consolidation has led to the formation of a symmetrical triangle.
Should the asset continue moving up, we expect it to meet a minor resistance at the 50.42 region, a minor throwback may occur before we see more continuation upwards.
We at Astute Financials would be expecting the price of this asset to move upward toward the continuation of the Impulse 5th wave move. Hence we are Bullish on Crude.
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Well, remember our crude oil update yesterday? the price of this asset has been moving upwards as predicted yesterday with well over 70pips from our point of entry while the asset has moved 0.4% upward today. Since we now have a successful break upwards outside the symmetrical ... we would be shifting our focus towards the 50.40 minor resistance point.


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The right time to trade!


When we observe the trend of trades, we see that timing is of essence to the success of a trade. Many traders have faced major losses in a trade due wrong timing. They have traded currency pairs at times when the price charts are against them.


Study the Markets
It is a fact that not all hours of the day are suitable for trading. When the market is most active and when there is least fluctuation in the market, it is the safest to open a trade. When more than one market is open, then there is greater fluctuation in price movements. It can be more than 70 pips north. However, when only one market is open, the price gets locked into a static zone with a change of around the 30 pip range. Moreover, you need to study the New York Stock exchange (NYSE) because the US dollar is involved in 90 percent of all trades and it is the biggest trading platform in the world. You also need to have an in depth knowledge of the market you are going to trade in before making a trade or you’re just handing your fate to luck and that isn’t what experienced traders do.


Overlap timing
When the markets overlap then there is an equal chance of greater risks and profits. As mentioned earlier the markets move significantly when more than one market is open. The biggest overlap in the US/ London markets occurs from 8 am to noon and as we know that the dollar and euro are the hottest currencies to trade and this is the optimal time when the volatility is really touching the roofs , this would be the time to start a trade. The 2am to 4am time in the Sydney and Tokyo market overlap isn’t as volatile as the above market but it still gives you a higher pip fluctuation and greater opportunity in the market. The London Tokyo overlap which happens between the 3am to 4 am mark sees the least volatility in the market and lower opportunities as compared to the above two markets.


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Big trading news can change the whole outlook of the market in no time at all. However, you shouldn’t be basing your decisions on every outbreak because that will ultimately will not benefit you. You need to be on the lookout for news on the following topics such as CPI data, trade deficits, consumer consumption, GDP data, unemployment rates, retail trade, Central bank meeting and many other types of similar news which can have a greater impact on the market.


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The candle formation at the end of last weeks trading on the EXY gives more credence and reliability on our previous position on EUR.
We will be looking forward to more downward trend towards the wave 4 correction as earlier stated as long as 1.1920 point remains valid.
Happy trading week
.............................................................................................
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With the 5th wave completed on the weekly timeframe for this metal, a serious sell opportunity is brewing. We would now be shifting our focus towards the downside for the price retracement. We will, however, wait for the close of the week trading on this asset to verify our analytical position on the metal.

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Using the Fundermentals Profitably..

How to Use the Economic Calendar to Increase Profitability

A successful trader requires both, the traits of a market fighter and a keen trade analysis, which requires authentic market news. There is nothing more important for an analysis than continuous up-to-date news. And one of the best ways to grab this news is through the economic calendar of the forex market that allows the trader to collect all the important global financial news and all the up-to-date info, about the finance at the time of its publication.

The economic calendar also ranks the news in the order of importance and capacity of its influence on the market - for the ease of the traders. The economic calendar acts as a helpful guide for the trader on his road to profit. Forecasts and economic history is also taken into account. The economic calendar is published online, right before the opening of the trading week, and its data plan is constantly adjusted in accordance with the current situation.

The use of economic calendar for trading involves at least the following three meanings of the announced economic events:

1. The actual event

2. The consensus (forecast/prediction)

3. The previous meaning.

In case, the forecast by the calendar is justified i.e. It is in accordance with the calculated values, and then the market reaction will often be small or be completely absent.

But if the actual data does not coincide with the forecast, the market in result gives a sharp reaction with a speculative peak. The strength and the degree of this reaction depend upon the difference. The greater it is, the greater is the reaction.

Global events including international breaking news, statements and press conferences in regard of the financial markets and the financial and economic statistics of the major countries provide an important response practically on all the aspects of trading and hence, they form an important part of the news by the economic calendar.

In case when the news come out to be better than expected (for a country's currency output), A buy order is recommended, where as in the case of a downfall the sale of one is. And if your's is the rare case and values match, then stay neutral, relax and keep unbiased trading.

The economic calender provides the trader an opportunity to know the time of the news beforehand which helps him to plan his activities, specifically the plan of entering the market or closing his position.

The market starts to respond to the information in advance owing to the principle of "know the rumor, sell the news'' due to which people start making market moves early, by vividly anticipating the flow of the market but at the time of publication one may go in the opposite direction, forming a sharp market "spike". Everything happens quickly and the situation can be extremely dangerous. To save one from such an inconvenience an Economic calendar warns in advance, the time of the news release, that allows the trader to close the already opened positions in time or, to squeeze a profit from a quick movement depending upon the situation.

Economic calendar is offered by every financial resource, and comes with different design, and sometimes even with different functional content, but there are characteristics to precisely indicate a quality calendar:

1. The Forex calendar must be complete and constantly updated, inorder to have direct access to news sources and also a move at the trading opportunities.

2. A completely understandable interface.

3. It must support a logical system of resources for information.

Understand what the news means for the market in general and for your trading strategy specifically and always analyze the historical data, the psychology of the market and behavior of the crowd at the time of the news release and by doing this, the economic calendar will become your guide to success.

Greetings.

Hi everyone,

How was the weekend,hope it was splendid?Do have a beautiful week ahead,stay cool.

From everyone @ astute financials we say have a great week.

This asset seem to have completed the long downward move witnessed by the head and shoulder formation in order to correct the upward 5 wave movement upwards witnessed earlier.

We would now be looking to buy into this commodity. we would be expecting the price of this asset to move upward to the 15.39 point so as to validate the retracement completion and the uptrend resumption for the intermediate wave 3.

We would consider this position valid as long as the 12.48(in Red) price point is respected.

Cadjpy.

Upward movement is expected to continue on this pair. The wave 4 retracement has been completed and halted at 86.04 and more importantly the pair has move back upwards and close above the 38.2 fibo region on 4h and daily.

we would now shift our sight towards the 87.45 region where the asset has been encountering some minor resistances before we take our sight upwards.