www.fxtrainingzone.com EUR/USD I see the short term trend as down, therefore class this as a Trend Continuation trade based on: - Bearish englufing shotting star formation close on the 4H, failing to close above the 50% retracement line (from daily timeframe - shown in yellow on chart image). - Price action failed to close above the 1.4117 level together with candles showing a lack of upward momentum. - Price has now placed in a lower high on the 4H something which it has not done in some time. - 8EMA failed to take control on the 1D, therefore shows that the strong bearish candle on (05/06/09) is still in control and therefore we can expect a bigger retrace than 23.6 from the larger upmove. (will explain this on the video)
www.fxtrainingzone.com This is a video lesson about how to identify market rhythm, when a market is trending and periods of consolidation. It covers a range of trading techniques which can should be used in the different market scenarios that you can experience when a full time trader.
Hey everybody, this Friday video covers Cable and the Aussie USD. Some simple analysis employed for these trade plans. Good luck and have a great weekend!! David Pegler
www.fxtrainingzone.com This video shows you how and where to draw your Fibonacci studies. I discuss how to use Fib retracements in your trading plan, and how to use extensions as price targets.
www.fxtrainingzone.com This is a video overview of the system I use. Brilliant for beginners, and a guide to where to start trading in the FOREX market. It outlines how to pick high probability trading using MACD as a filter. I cover TC (Trend Continuation) & CT (Counter Trend) signal examples. My trading background is discussed together with how you might go about finding a system which fits your personality and lifestyle. 2
