The recent moves of EURJPY on the weekly chart shows that it is on a downtrend, creating lower highs and lower lows.

If this downtrend continues, it may find an intermediate support zone that is very near to 2009 lows.

Weekly Chart of EURJPY

Weekly Chart of EURJPY

Looking at near term, on a H4 chart below.

EURJPY H4

EURJPY H4

There is a high chance that there will be a lot of reaction on the critical support / resistance level as highlighted, which could result in 2 directions.

1. As a Support level for rebound, this will only confirm the market has respected this level again.

2. As a breakdown of Support, resulting in further downtrend movement, seeking for next level of support.

Tagged with:
 

The Loonie (USDCAD) is on a downtrend since 2009 and it does not seems to have any attempt to reverse this trend as of now.

USDCAD Weekly

Weekly Chart of USDCAD

As from the Weekly Chart above, the Loonie is making its way near to 2009 support and it is also near to multi-week support zone now. Since late Sep 2009 till now, the Loonie has been on a trading range, which could be a consolidation of the downtrend.

How to take this advantage?

4 Hourly Chart of USDCAD

4 Hourly Chart of USDCAD

On the 4 hourly chart, it seems that Loonie is forming a pennant-like chart pattern, which could hint a possible trend continuation.

This pattern will be valid as long as the top trendline of the pennant is not violated.

On the other hand, a bullish view on the Loonie could regard the pennant-like pattern to be a symmetrical triangle for a counter-trend move.

Therefore, it will be better to wait for a clear picture for Loonie to unfold before attempt for a trade.


Tagged with:
 

This morning on H4 chart of EURUSD, it seems like there are 3 valleys (V or U letter shaped pattern), which is the classic triple bottom chart pattern. The triple bottoms, which spans over 3 weeks, could be a hint of a Bullish Reversal move underway.

EURUSD H4  Triple Bottom

How to trade the triple bottom?

As with double bottom formation, the bullish view is only  confirmed when Price Action breaks out of the neckline. The additional criteria for the validity is that Price Action should not make a new lows beyond the triple bottom.

If there is a new Low formed in the coming days, then the triple bottom is invalid. Instead, it can be a possible rectangle pattern, which is a consolidation of the Bearish Trend move.


Tagged with:
 

The last COT Report for EURO FX showed that there is high open interest and extreme levels of Commercials and Non-Commercials.

Weekly Chart of EURUSD with COT Analysis

Weekly Chart of EURUSD with COT Analysis

3 observations  can be made from the chart.

1. Extreme Bullish Sentiments of the Commercials

The recent levels of the Commercials is on a record Bullishness level, unseen for the past 7 years.

2. Extreme Bearish Sentiments of the Non Commercials

Likewise, the recent levels of the Non-Commercials is on a record Bearish level, unseen for the past 7 years.

3. Rising Total Open Interest

The rising total open interest means that there were new orders for EURO-FX, thus implying increased market interest on this futures contracts.

What does all this mean?

The high open interest with extreme levels of sentiments usually precedes a possible Big move or a start of a trend reversal. As seen from the chart above, it could be a mean possible halt of the current down trend move, which could mean that EURUSD may have a bullish reversal and moving uptrend again.

For the past 2 weeks or so, we are seeing the US Dollar Index moving in a trading range, which also defines its current support and resistance level.

The COT Report released last Fri points to a slightly lower Total Open Interest and a slight unwinding of the shorts of the Net Commercial Sentiments.

The trading range seems to be a consolidation after the recent rally after the bull flag in Jan 2010.

Lastly, it is noted that the upward trend of USDX seems to be strong as it is yet to be violated.

USDX Daily

Tagged with:
 
400 pips move, with target profit already predicted when trade is opened

400 pips move, with target profit already predicted when trade is opened

Trading is a business.
A business must have business plan. Therefore, trading must have a trading plan too!

A trading plan include:

1. Entry level

2. Target level

3. Stop Loss level

4. Position Sizing

To get 400 pips in a trade is not easy.
One way to do so is to have a method that is able to spot turning point. By spotting turning point, a trader will be able to minimise cut loss.

Tflow is a predictive method that is based on applied elliott wave and advance fibonacci confluence ratios.  We are able to spot turning points based on a highly predictive and highly recurring pattern in the forex market.

See an execution plan by our trainer in GBPUSD.  The movement of GBPUSD is clearly predicted during intake 9 live hands on class.

Trading plan of our student

Trading plan of our student

A good signal usually combines a number of qualities:

  • Price follows the path of least resistance; therefore a roadmap that forms support or resistance is a good reference for a turning point.
  • When the price chart prints a chart pattern, the pattern itself provides plenty of clues. Chart patterns usually fall into 3 categories:
    • Continuation
    • Reversal
    • Both of the above
  • A candlestick will usually provide a trigger. Some candlesticks are better than others but they are give a hint of market sentiment at the roadmap.
  • Lastly a break of a trendline is good confirmation. Note that there is only a fine line between playing ‘breakout’ versus using a trendline as trade confirmation. With the forex market, traders should always be wary of breakout trades because professional will fade the trade.

    Let’s look at the EURJPY chart. This is a monthly chart which gives us an excellent illustration of the concepts involved.

    Note that the chart has all of the following elements:

    1. Roadmap – Channel meets horizontal resistance; level at resistance proves harder to beat
    2. A head and shoulder hints at reversal
    3. At the critical right shoulder, an evening star can be seen
    4. All of the above come together in a confluence ultimately confirmed with trend line break

    All elements of a reversal can be found here

    All elements of a reversal can be found here

    Tagged with:
     

    1-2-3-4

    Thanks to Erwin for pointing out how relevant this song is to us.

    1-2-3-4

    1-2-3-4

    Feist\’s appearance in Sesame Street\’s 39th season.

    * 1-2-3-4 is a special setup taught in the FX Tflow® System. As a price-based setup, it is faster and superior to indicator based strategies. The setup can be used in any timeframe for any currency pair. Traders can use it to make both with the trend as well as counter-trend trades. It also has superior predictive value when used in conjunction with Fibonacci techniques.*

    Tagged with:
     

    On 1 Sep 2009 Seminar, TH (Creator of Forex Tflow® Methods) shared his lifestyle and his trading style and why EWUS Strategy (Earn While U Sleep) was very important to him.  He also explained why he was able to adopt many activities including having an EURUSD trade rolling while he was sharing with the class on Forex Trading and Forex Tflow® Methods.

    Here’s the results of the trade! That’s a 150 pips gained on EWUS based on Advance Order Type.

    1500 USD profit on 1 standard contract

    1500 USD profit on 1 standard contract

    Many of our students were able to spot the same trade with our trainers.  That’s how our Real time Hands on Sessions imparted our many years of experiences to them.

    Our student trade it too!

    Our student trade it too!

    EWUS is especially useful in Forex Trading due to availability of Advance Order Type (One Cancel Others). In order for you to determine the right levels, you will need to know

    TerraSeeds Forex Tflow® Methods:
    1. The Flow
    2. Optimum Zone with River
    3. Market Level for Stop Loss and Profit Target
    4. Triggers

    These steps are very important to your trading whether you are Novice or Professional to Trading.  It is with these steps that we are able to maintain a High Reward Low Risk Factor of average 3.5 to 1.

    To know more about TerraSeeds Forex Tflow® Methods and how you can learn it, give us a call at 64923196.  Oh yes, I forgot that there is a promotion going on for you to build a strong foundation in Forex Trading that you will find it so useful…

    Happy Trading,
    Binni Ong
    Chief Trainer

    www.terraseeds.com

    When I was at CityIndex corporate training class, met a person who told me that he attended lots of lessons on forex and couldn’t find one that works.

    My first instinct is to ask – is the method genuinely wrong or is it that he has not really understood the gist of the method.
    or that he is too fast to declare that the method is not good or is it something wrong with him?

    I observed that those who really can have consistent trading performance are people who really drill down to MASTER a method.
    It is like a craftman -  like a japanese sword maker who took all the energy and time to master the only one belief that he has. that one belief is the method that he must master to sharpen this sword. that dream is that he will become the best sword maker. Those who jump from method to method, from master to master, from strategy to strategy will unlikely see themselves succeed.

    To sum all trading strategies, the core is really:

    - buy support, sell resistance
    - buy resistance breakout, sell support breakout

    All strategies if you look deeper revolve around these 4 ideas (regardless of whatever fanciful name all strategies possessed)

    Key things that differentiate:
    - reward to risk ratio (Are you able to pre-determine the reward to risk ratio? Inherent to the strategy, is the reward consistently more than 1)
    - trigger (exactly when to click to buy or sell?)
    - consistency (is the money management and risk management rules well established? Are you following these rules closely? Do you have tendency to break rules?)
    - peace of mind (When you use the method in concern, are you shivering and scare?)

    To summarise, for those who have problem seeing 1234 pattern must come back to us – Attend the hands on class – we will assist you to master the belief, fulfil your dream. don’t be quiet. drill us off our experiences!!!  :)

    Good luck.

    cheers
    binni
    www.terraseeds.com


    Upcoming Events