Concept:

30 more pips to end today's trading @ 1.3700. Thank you EU.

dont tell me u are afraid of the bulls, anyways thanks to the us economy.
trailing trailing trailing

[size=16pt]Forex trading is a good business,but  a trader have to be very careful with the size of lot they chose, also learn not to be greedy and don't be too fearful.

If any1 of you need working Daily Forex trading signal (about 80% accurate) pls write to me via instafxng@live.com or call 08162740833. or join us @ www.chatnownow.com[/size]

The Euro has dropped sharply against most currencies weighed by concerns about the Eurozone economic outlook, and equity markets in negative tone, the EUR/USD retreat from 1.4550 extending below 1.3835, to reach fresh 6-month lows at 1.3790 so far.

Technical indicators are pointing lower, with next support at 1.3750. "Trading at levels not seen since early March this year, next support comes at 1.3751, mentioned month low. With stocks under pressure and risk aversion hitting particularly the common currency."

On the upside, resistance levels, are expected to be contained at 1.3840: " Corrections to the upside are not to be expected unless above 1.3840 which may lead to an approach of the 1.3900 area. Lose of 1.3750 should signal an extension of current slide to the 1.3690/1.3710 price zone."

aguiyi:

dont tell me u are afraid of the bulls, anyways thanks to the us economy.
trailing trailing trailing

Friend, I lost some pips yesterday & the best side of it is that I have gained x3 of that today, I need to rest & shift attention to some other issues. See you next week. Happy trading.

cheers bro

Threatening the 1.5900 price zone GBP/USD is under selling pressure mostly due to market sentiment, and despite bearish, looses remain limited so far. Hourly chart shows bearish momentum increasing with indicators far from oversold readings suggesting further falls are likely. Indicators retreating from their midlines support the bias, while 20 SMA capping the upside around 1.5960 support the view.

Support levels: 1.5865 1.5820 1.5790

Resistance levels: 1.5925 1.5950 1.5990

Emailto: oladimeji.oluwo@knightscapitalng.com.
Open a demo account today - http://kc-markets.com/whatwedo.html.

simple, as said earlier, for one to last in this business equity management with patience is key. Enter a position when you should, have the willingness/discipline to quit a position when you should (by stop loss, TP or otherwise) however if you have not blown several accounts and persisted this may not be possible seeing we are greedy always.

Personally i think that for training: if you are able to keep losing your small accounts and coming back with funding then you are becoming serious about your training and soon you would learn to apply patience/discipline in chosing when to enter, where your SL should be and where to TP or quit, or in general terms -your trading habit would improve.

Whatever technical/fundamental strategy you have, discipline, equity security and patience are therefore keys for continued success and improvement in this business.

happy week end guys, wishing you many pips next week.

Thank God, the Nzd-Usd sell trade call I gave this time last night, had a very nice follow up; falling as much as 135 pips in the last 8 hours of trading but finally closed at 120 pips for the weekend.

For those who took this trade with me, if you have not already moved your stop loss to break even (i.e the entry price) please do so by market open on Sunday to secure the 120 pips that we have banked already. Till next week.

Have a great weekend!!

Everyone's closed for the weekend.

@ Blog Icon Splendid call have a happy weekend, see you on Monday.

^^^^ thanks man. Cheers!

Pivot point for the week. There might be slight change on Sunday depending on where market opens.

ok

Blog icon:

Good evening every one. I can see that the house is very busy here raking in pips.

Without much ado, I am dropping my 1st (and probably the only) trade for this week. The week has been slow with so many sharp and unidirectional movements; at least from my point of view. This trade in question is a 1:2.5 trade with a profit of 145 pips and stop of about 58 pips.

Just as I always do, I have put enough details on the attached chart below to explain the reason behind the trade call. Act according, but be warned on using strict money management. I am already live (on my pending order) and should get filled before morning.

Good night and have great trading day tomorrow to every one here! Loose responsibly!!

Thanks Blog icon I got +85 pips from your call using trailing stop. You are the man!!!

thank you blog icon for all you are doing.I got a 100pips on your NZD/USD trade call. God bless you man. More pips to your elbow dude

@Lynx and Jak, it is nice to know that I was able to be of help to you guys. You are welcome; thanks for the compliments. Let's look on to next week. Have a great weekend mates!

Blog icon, i sent a mail to your signature, please reply. Thanks

Are we there yet?

Hello house. I have bin following this thread for a very long time(dou i hav neva commented). I must confes u guys are doin a splendid job. Whoeva brought abt ds thread is rly wonderful. Av bin demotradin 4 almost 1 and half years now. But i fil am quite ready to go live now.
@blog icon, thank u so much 4 al d calls u v bin giving here, i tel u, not every nigerian man would want to do dat. Please, can i join ur class? If yes, how do i go about it? Thanks a zillion.
Hapi pipp week to u all.

@Swiftz, you are welcome. You are absolutely free to join the class. I have prepared and arranged everything in the course in an orderly manner in my autoresponder. When you join the class, each module (bullets) will be 'shot' @ you every 2 days interval; so that you have time to digest and practice what you've learned before moving to the next.

To join the class, send a blank email to "freefxtraining @ . com". Remove the quotes and the spaces around d @ symbol; I wrote it that way to circumvent the nuisance of the spambot. Waiting to see you on the inside! Welcome to the fold here!!

One would need Binoculars to see the bottom of EURUSD soon. It's going to pull GBPUSD down with it.

Boys and girls, i heard that the Japs might intervene as suggested by key players like Toyota and Sony. This is likely to result in the kind of moves we saw in the CHF pairs last week, please trade all Yen pairs with extreme caution. May the pips be with us

Dungren:

Hi Everyone,

Talking about MM, I would like to get your opinions on the use of lot sizes with reference to the account balances below. I know it might vary from trader to trader depending on each person's trading strategy, but i just want to get your views for all excluding scalping.

So, what lot size would you use:

$
1,000 0.1
2,000 0.2
10,000 1.0
20,000 2.0
50,000 5.0
100,000 10 etc

I would still like to get you guys' opinion on the above.

Trading Forecast

The forecast below are not to be regarded as guaranteed trades but a guide into the trading week ahead.
Ensure you have your risk management strategies and tools in place.

EUR/USD - Problems in the peripheral nations of the EU continue to undermine the EUR/USD. Nonetheless, the problems have been already priced into the pair. Weakness in the US economy could lead to EUR/USD gains. The EUR could continue to feel the pressure if Greece does not meet the requirements for the next tranche of bailout funding, but if Greece manages to avoid a default, the EUR could see an opportunity for a relief rally. - Bullish 1.3860.

GBP/USD - Risk aversion coupled with a passive Bank of England sitting on the sidelines for another month contribute to the case for GBP weakness, but when the risk aversion dust settles, the GBP could begin to be viewed as a less ugly alternative to the USD and the EUR. - Sideways 1.5923

USD/JPY - USDJPY is in the consolidation situation at the low level, and exists some bullish tone. We should buy at the low level. - Sideways 78.03

USD/CHF - After the SNB bluntly stated that they are planning to peg their currency to the euro, the gains in USD/CHF were cleraly felt. It's likely that the USD/CHF will edge in an upward direction albite a slow rate. - Sideways -0.8745

Trade Fx on our MT4 platform and receive 20% of your commission fees as an incentive every month. Qualify to manage up to $50,000 for us. Offer ends 4th October.
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Our broker is regulated by the Financial Services Authority (FSA) England.

EUR/USD outlook - September 12 - 16

The euro finally broke out of range, and took a big dive of 550 pips for the week. Will this continue or will we see some consolidation? It depends a lot on Greece, as well as on Trichet, which will have more opportunities to rock the euro.

Here is an outlook for the upcoming events, and an updated technical analysis for EUR/USD, now on lower ground and below long term support.

Greece is on the brink of a hard default, and this is slowly being acknowledged. Will Greece receive the next tranche of aid? The drama continues as Greece might encounter a payment freeze. Facing reality has also been seen with the ECB, that lowered growth and inflation forecasts in a move that triggered the downfall. The huge Swiss intervention and the German court ruling provided little help. The last blow came from the resignation of German ECB member Juergen Stark.

EUR/USD Technical Analysis

Euro/dollar began the week with a gap lower and slid to support at 1.4030. The Swiss intervention sent it to resistance at 1.4282 (discussed last week) but this was short lived. The pair eventually lost support at 1.3950, and fell to a 6 month low below 1.3838. This didn’t stop there and the pair closed at 1.3649 – very low.

Technical lines from top to bottom:

We start from a much lower point: the peak of November 2010 at 1.4282 proved its strength once again. This line works better as resistance than as support, and capped the pair before the big fall. 1.4220, is another cap high in the sky.

1.4160 switched positions quickly and capped a recovery attempt. It is a veteran line. The round number of 1.41 managed to serve as a stubborn line of resistance as well.

Just above the round number of 1.40, we find the important line of 1.4030 turned into resistance – it was quite significant. 1.3950 was a pivotal line when the pair traded in lower ranges and stopped the pair temporarily.

The swing low of 1.3838 held the pair and after EUR/USD fell to a six month low, it turned into quick support. This was also a line of support last year. Below, 1.3750 was an important line in the past but is only minor now.

1.3710 is immediate resistance at the moment. It was minor resistance early in the year. Just below the fresh lows, 1.3620 is immediate support.

More significant support is at 1.3570 which provided support in January and also beforehand. It’s followed by 1.3510 which provides a backup.

Very serious support is at 1.3440. It separated ranges in a very clear way many times in the past, making it of very high importance.

Minor support is at 1.3350, followed by 1.3250 which held the pair early in the year. Stronger support is at 1.3080, before the ultimate trough of 2011 at 1.2873.

I remain bearish on EUR/USD.


www.forexcrunch.com

Trading Forecast (September 12-16)

FTSE 100 (Sep 11) intraday : target 5077
Pivot: 5208
Our Preference: SHORT positions below 5208 with 5077 & 5042 in sight.
Alternative scenario: The upside penetration of 5208 will call for a rebound towards 5286 & 5325.
Comment : the RSI calls for a new downleg.

Dow Jones (Dec 11) intraday: under pressure.
Pivot: 10950
Our Preference: SHORT positions below 10950 with 10725 & 10650 as next targets.
Alternative scenario: The upside breakout of 10950 will open the way to 11030 & 11165.
Comment:the RSI calls for a new downleg.

GBP/USD intraday: key ST resistance at 1.59
Pivot: 1.5900.
Our Preference: SHORT positions @ 1.589 with 1.581 & 1.575 in sight.
Alternative scenario: The upside penetration of 1.59 will call for a rebound towards 1.597 & 1.6.
Comment: the pair remains capped by a key declining trend line and in an intraday bearish channel.

EUR/USD intraday: the downside prevails.
Pivot: 1.3650.
Our Preference: SHORT positions @ 1.364 with 1.341 & 1.338 as next targets.
Alternative scenario: The upside breakout of 1.365 will open the way to 1.372 & 1.3785.
Comment: the RSI is capped by a declining trend line, the pair stands below its new resistance and remains under pressure.

USD/JPY intraday: the downside prevails.
Pivot: 77.45.
Our Preference: SHORT positions @ 77.35 with 76.7 & 76.4 as next targets.
Alternative scenario: The upside penetration of 77.45 will call for a rebound towards 77.65 & 77.9.
Comment: the pair has broken below an ascending channel support.

GOLD (Spot) intraday: under pressure.
Pivot: 1870.00
Our Preference: SHORT positions below 1870 with targets @ 1825 & 1795.
Alternative scenario: The upside penetration of 1870 will call for 1886 & 1900.
Comment: the index currently faces a challenging resistance area at 1870.

Crude Oil (Oct 11) intraday: key ST resistance at 86.35
Pivot: 86.35
Our Preference: SHORT positions below 86.35 with 85 & 84.4 as next targets.
Alternative scenario: The upside penetration of 86.35 will call for a rebound towards 88.25 & 89.4.
Comment: the RSI is capped by a bearish trend line.
Trend: ST Ltd upside; MT Range.

Trade on our MT4 platform and receive 20% of your commission fees as an incentive every month. Qualify to manage up to $50,000 for us. Offer ends 4th October.
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The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects our current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.

no dulling @ samyng . am +73 from 1.3563

Good morning everyone. This is to announce that our Nzd-Usd trade from last Thursday just hit our TP of approx 150 pips. If you took the trade call with me, congrats! It's on to the next one.

I want to use this time to stress the importance of discipline and patience as a trader. Even in a time when the market doesn't seem to want to give any trade signals, it is important that you sit and wait on the sidelines and wait instead of making up non-existent positions. Not every week is a trading week!

I also want to talk on interfering with our executed trade positions. When/once we execute a trade order, it is very wrong to interfere by shifting our SL or TP; if we didn't plan on doing that before the trade was entered. This is the easiest way to give in to emotions as we are not in the best state to make trading decisions while a trade is active. If you took profits earlier than the level I had in my call, you will understand what I am talking about.

That is it for now. Let us wait and watch for the next best setup. Until then, take care and safe trading. Loose responsibly!

Blog icon:

Good morning everyone. This is to announce that our Nzd-Usd trade from last Thursday just hit our TP of approx 150 pips. If you took the trade call with me, congrats! It's on to the next one.

I want to use this time to stress the importance of discipline and patience as a trader. Even in a time when the market doesn't seem to want to give any trade signals, it is important that you sit and wait on the sidelines and wait instead of making up non-existent positions. Not every week is a trading week!

I also want to talk on interfering with our executed trade positions. When/once we execute a trade order, it is very wrong to interfere by shifting our SL or TP; if we didn't plan on doing that before the trade was entered. This is the easiest way to give in to emotions as we are not in the best state to make trading decisions while a trade is active. If you took profits earlier than the level I had in my call, you will understand what I am talking about.

That is it for now. Let us wait and watch for the next best setup. Until then, take care and safe trading. Loose responsibly!

i dont know why i always laugh when i read the highlighted.
you are the man