Happy New Year

Hello traders, happy new year to all and may 2010 be a more profitable trading year.

You may like to take a look at the current standing of the forex robot world cup, the leading robot is up an impressive 92.24%!!!

http://www.forex-robot-world-cup.com/results.php


- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD has been rejected by 1.5000 and has just broken 200EMA on M15. However, uptrend is still intact on H1 and H4. Will be looking for long opportunities if price stays above 100EMA and 200EMA on H1 and H4.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD has managed to push itself above 100EMA and 200 EMA on all 3 time frames, M15, H1 and H4. Price has to break and stay above 1.4935 for further upside move.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD is below 200 EMA on M15, however it is above 200 EMA on both H1 and H4. Will be staying out and observing the price action for now.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD is currently trading between 78.6% and 61.8% Fib on M15, price fails to stay above 1.5000
The MAs on all 3 charts are indicating uptrend still intact, hence will be looking for long opportunity.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

There was a big selloff for EURUSD yesterday bringing the price down to 1.4821. Uptrend still intact on H4, however price is below 200EMA on both M15 and H1, will be looking for shorting opportunity when price moves up and rejected by Fib level on M15, profit potential will be limited unless price breaks below 200EMA on H4.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

There is strong resistance at 1.5012 as can be seen by the many failed attempts to break through on M15. Further upside is possible only if 1.5012 is broken and supported, if not there will be more correction to the downside.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Shorted EURUSD at 1.5001 with initial stop loss at 1.5025. Closed half position at 1.4949 for +52 pips profit. Trailing stop loss for the remaining half position.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Long EURUSD at 1.4982 with SL at 1.4967 which is just below 78.6% Fib on H1 and above M15 100EMA. There is no predefined profit target for this trade, price has to close and supported above 1.4987 for further upwards movement.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD has managed to break through and supported above 61.8% Fib on H1, the immediate resistance to look out for will be 78.6% Fib on H1 which comes in at 1.4969. If price breaks above and supported at 1.4969, price should attempt to move higher to test previous high of 1.5063 provided it breaks and supported above 1.5000.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD makes a higher high yesterday, however price is still rejected by the 61.8% Fib on H1 and taking a closer look at M15, it can be seen that price is rejected at 1.4880

Trade idea for the day: Look for long only if price is supported at 1.4880, 1st profit target will be around 1.4900

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD has been rejected by 61.8% Fib on H1 and currently hovering around 50% Fib, however on M15, price is above all 3 MA lines and H4 price is supported by 61.8% Fib. Will be looking for long opportunity.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

The FOREX ROBOT World Cup Competition

Attention to all Expert Advisor developers who would like to stand a chance to walk away with USD $100,000 cash prize. The FOREX ROBOT World Cup Competition is here and free registration to the competition for all!!!

Terms and conditions of the competition can be found at http://www.forex-robot-world-cup.com/competition.php

Good Luck to All Contestants!!


- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD has made new high again and price is approaching 1.4900
Price is currently floating quite a distance above the 20EMA on M15, H1 and H4, waiting for price to retrace and enter a long position.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD has been bouncing off 200EMA on H1 and form a upward trendline. Price makes a double top on H1, however, personally I will not short this double top as EURUSD is still bullish. Will be looking for long if price retraces and supported by either the Fib, 200 EMA or the trendline.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD fails to break and stay above 1.4719 resistance in today's asian session, however on the H1 chart, it is currently support by the 61.8% Fib at 1.4707
As can be seen on the H1 chart, there is 78.6% Fib resistance at 1.4734 before price can push further upwards to retest the high of 1.4767
Let's wait and see how the chart will form, will there be double top???


- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD has been making new highs for the past few days, a very bullish run. However, there may be short term correction to the downside. Let's wait for the chart to reveal it's decision.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD managed to break and stay above 1.4600 with it's strong bullish move over the past few days. Will be looking for long opportunities when price retraces.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

1st profit target of 1.4595 hit with +52 pips profit, 2nd half position close at 1.4584 for +41pips profit as price is rejected by 1.4600

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Long EURUSD at 1.4543 when price breaks out and retraces back, stop loss at 1.4525 and looking at profit target of 1.4595

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

EURUSD is making it's move to attempt to break the high of 1.4535 established yesterday.
Beware of false breakout, a safer entry if price manage to breakout would be to allow it to retrace back and test the 1.4535 level.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Close out remaining position at 1.4472 for +118 pips profit.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Tutorial: Harmonic Patterns Trading Webminar

Enjoy the above 30 minutes webminar which provides some examples of harmonic patterns and how to trade those patterns.
More information on harmonic patterns can be found at http://www.harmonictrader.com/

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Long EURUSD at 1.4354 upon consolidation breakup, 1st profit target of +80 pips hit at 1.4434
Price need to break above 1.4445 for further upside movement. From the bullishness as seen from the chart, there is a high possibility that the move will continue upwards.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Webminar: Trade Non-Farm Payrolls LIVE

Ladies and gentlement, there will be a FREE live webminar this evening to trade the non-farm payroll.

Expert: Wayne McDonell, Chief Currency Coach at FxBootcamp
Moderator: Maud Gilson
Start: Fri, Sep 4 2009, 11:30 GMT
End: Fri, Sep 4 2009, 14:30 GMT

Event details: http://www.fxstreet.com/live/sessions/session.aspx?id=9e930394-9df3-4d26-b3f7-00ca4c78a7e3

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

FX Solutions Worldwide Trading Competition

Good news for all traders who would like to pit their skills against the best traders in the world. FX Solutions is organising a trading competition which commence on Sunday, September 20, 2009 at 5:00PM ET and ends on Friday, October 16, 2009 at 5:00PM ET

A live account with minimum of USD$500 is required to participate in the competition and winner of the world champion stands to walk away with US$25,000!!!

Competition details, http://www.infinityfutures.com/fx/fxsolpromoROCK.aspx

All the best to all participants.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Close out half position at 1.4255 for +50pips profit, shift the stop loss to 1.4220 for the remaining position.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Long EURUSD at 1.4205, SL 1.4190 when price makes triple bottom on M15, a strong indication that downside is stalled for the moment. There is no fixed target for this trade, allowing the price action to dictate the exit price. Price must close above 50% Fib on H4 for further upside movement.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Long EURUSD at 1.4189 with stop at 1.4170, just below the 61.8% Fib level on H4. First profit target of 1.4220 hit with +31 pips profit, shift the remaining stop loss to 1.4190. Price must close above 1.4226, 50% Fib on H4 for potential further upside to 1.4250.
Based on the bearish price action, will be looking for shorting opportunity when price retraces.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

August has just pass, let's see what EURUSD has in store for us in Sept. Price is currently in a consolidation range in M15, however all the 3 timeframes are showing biase towards the upside. Price is currently around 23.6% Fib on H4, will be looking for long opportunity. However, take note of 1.4445, if price did not close above and supported, double top has formed and should be taking the short side.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Tutorial: Fast and Furious Trading (Scalping Technique)

The above video illustrates a simple scalping strategy on 5 min charts using
2 bollinger bands (One and Two standard deviation) with tight stop loss and
profit target. Hope you guys enjoy the video and making pips....


- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Profit target hit, +31 pips for the trade.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Long EURUSD at 1.4308, SL 1.4290, PT 1.4339
Price is within the 23.6% and 38.2% Fib on H4 and supported by 100EMA on H1. Both H1 and H4 showing uptrend.
At the point of writing this post, price is hitting some resistance at 1.4320 on M15. Failure to break above 1.4320 will invalidate this long trade and will be closed.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Let's take a look at how the EURUSD price doing. The price is within the 23.6% and 38.2% Fib on H4 and making lower low for each swing on H1 chart. If price manage to break below 1.4282, we'll be looking at the next support level at 38.2% Fib level on H1 followed by 1.4226, 50% Fib on H4. As both H1 and H4 are still in uptrend, I am looking for long opportunity.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

There was a sudden fall in EURUSD and M15 candle closed below 1.4242 and supported by 100 EMA on M15. Sold EURUSD at 1.4240 zooming in to M5 chart for entry, stop loss at 1.4250 and 1st profit target of 1.4224 hit, +16 pips while writing this entry. shifted to protective stop for the remaining position.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

1st profit target hit with +21 pips profit, shifted stop loss of 2nd half to 1.4229

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Long EURUSD at 1.4228, stop loss at 1.4205, 1st profit target at 1.4249
Price is supported by 61.8% Fib on H1. Let's see if the bulls are able to break above 1.4280 today.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Tutorial: Same Tools, Different Thoughts

Came across an article that illustrates how to think differently and gain an edge when trading. Hope you guys enjoy the article...

http://www.tradingacademy.com/lessons/20090818/featured_article.htm

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Shorted EURUSD at 1.4102, stop loss at 1.4130, 1st profit target 1.4071, 2nd profit target 1.4010. Need to take note of 1.4085 level, if price fails to falls through, will close out trade.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Shorted EURUSD at 1.4091, stop loss at 1.4112 and profit target at 1.4052. As there is a support around 1.4070, if price fails to break through, will close out trade.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Took +30 pips profit for half position, shifted stop loss to protective stop at 1.4084 for remaining half position.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Shorted EURUSD at 1.4085 as the price meets the 20EMA on M15 which acts as a dynamic resistance level and the 0% Fibo level on H1 also acting as resistance. Stop loss at 1.4115 and profit target at 1.4015. As there is a support at 1.4050, will close out the trade if price fails to break 1.4050 for further downside move.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Let's take a look at today's EURUSD chart. Price was rejected at 61.8% Fibo on H1 last friday and fell all the way to 23.6% Fibo level on H1. However, there is still a 76.4% support on H4 which the price needs to break for further downside. Will be looking for shorting opportunity when price retraces.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Took +20 pips profit on half of the position, shifting the stop loss to protective stop +1 pip for the remaining position.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Trade entered at 1.4284 when price found support at 50% Fibo on H1 and breaks out of the range on M15. Stop loss at 1.4264, slightly below the 50% Fibo on H1 and below 100EMA on M15 and profit target at 1.4323. There is resistance around 1.4300, hence if price fails to break above, will close out trade.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Tutorial: Harmonic Patterns Trading (Introduction)

An introduction to harmonic patterns trading, which is essentially spotting high probability trading patterns and cycles repeating over and over again. I will be adding the various harmonic patterns in the tutorial section, so stay tune and enjoy the video.....

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Webminar: The Psychology of Trading

Webminar title: The Psychology of Trading
Link: http://www.dbfx.com/drdoug2

There is a webminar coming up on Tuesday, August 18th 2009
7:30am New York, 12:30pm London, 7.30pm Hong Kong


- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

Tutorial: How to trade with Fibonacci Levels

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Trade what you see, Not what you think

Trade entered on breakout of price 1.4235, price entered at 1.4239, stop loss 1.4211 and profit target at 1.4285 which is just below the 61.8% Fibo level on H1. While writing this entry, the stop loss has been shifted to protective stop at 1.4240.

The result of the German Prelim GDP came out better than forecast at 0.3% which will support this trade on the upside. Let's see how the trade goes.

- http://eurusdtrader.blogspot.com -
Trade what you see, Not what you think

There will be high impact German Prelim GDP news later at 6:00am GMT. Do trade with caution during the period. Let's see where the EURUSD is trading now.

The bulls manage to hold on it's steam despite the ferocious attempt by the bears to push the price down during yesterday's FOMC statement and Federal Funds rate at 6:15pm GMT as can be seen on the chart by the long bearish candle on M15.

Price is now hovering at 50% Fibo on the H4 chart and 200EMA on H1 chart. Though the bulls have the upper hand for now, but see how much obstacles there are in front for the bulls to push through, H1 50% and 61.8% Fibo and 38.2% Fibo on H4. We shall see how the bulls perform today.

- http://eurusdtrader.blogspot.com/ -
Trade what you see, Not what you think

Looks like the bulls won the battle for now, long trade entered at 1.4162, stop loss at 1.4146, profit target 1.4195. As can be seen on H4, price is supported by 76.4% Fibo level, however as 100 and 200 EMA crossed down on H1 thereby limiting the upside potential.

Profit target hit while writing this blog entry with a +33 pips profit for this trade.

- http://eurusdtrader.blogspot.com/ -
Trade what you see, Not what you think

Mathematical Flaw in Forex??

Chance upon the above website, really interested to know what is the mathematical flaw. If anyone of you know, appreciate your sharing.

- http://eurusdtrader.blogspot.com/ -
Trade what you see, Not what you think

It's a choppy day yesterday as the bulls and the bears are fighting to take control, price remains in the 61.8% and 76.4% Fibo on H4 and is supported by the 200 EMA on H4.
Trade plan for the day, "stand on side line" till there are indication of where price is moving towards.

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Trade what you see, Not what you think

FX rebates for every standard lot you trade

Are you getting rebates for every fx standard lot you trade?

I want to share this piece of exciting news with all of you. I have recently happened upon a company that offers a monthly rebate to forex traders. This rebate is cash back on every trade that you place with any of their 15 partnered brokers! Basically the rebate is part of the spread that you are already paying to trade. Why not get some of it back? This service is absolutely FREE! And they have a great selection of brokers with many platforms and features to suit any trading style.



When you sign up with any of their brokers and open an account you will receive up to $4.11 on every standard lot that you trade with them. The rebate is scaled down accordingly for Mini ($0.41) and Micro ($0.04). They work with some of the biggest and most reputable brokers available as follows. If you are already trading with one of their brokers it is very easy to get rebated on that account. And if you have any questions or need any help in receiving rebates on your new or existing accounts they have great customer service to help you!




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Trade what you see, Not what you think

Tutorial: Trading price action

A nice video on trading price action on youtube.
Hope you guys enjoy the video....


- http://eurusdtrader.blogspot.com/ -
Trade what you see, Not what you think

Another price consolidation during the asian session. Let's recap how yesterday's EURUSD movement is and what we expect to see today. Price retraces to 23.6% Fibo on H1 and price
went down, almost hitting the -23.6% Fibo extension.

Price has moved one tier lower on the H4, from 50% to 61.8% fibo on H4 to 61.8% to 76.4% fibo range on H4. If price is able to break the 76.4% fibo, we can expect price to test the 1.4007 level
Let's await and see if the bears have strength to push the price lower.....

The trade has been stopped out with price supported at 1.4181 Let's stand aside for now and see if the bulls or bears win this tug of war...