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analyst75

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analyst75 last won the day on March 24

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  • First Name
    Azeez
  • Last Name
    Mustapha
  • Country
    Estonia
  • Occupation
    Forex analyst, coach and funds manager
  • Biography
    Tallinex focuses on risk mitigation, leading us to develop proprietary trading technologies. All Tallinex trades are transmitted swiftly and reliably to the world's largest banks through a PrimeXM FX bridge to Integral's FX Grid system, which is optimized for Forex trading. Our clients can therefore benefit from better ECN/STP technology and confidently trade the Forex markets through Tallinex.
  • Interests
    Forex trading

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    Coach
  • Favorite Markets
    Currencies
  • Trading Platform
    Meta Taders 4
  • Broker
    Tallinex Limited
  1. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (June 18 - 22, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market began the current strong bearish movement in April. This month (especially from early June), price consolidated till June 14, before the large pullback we are currently witnessing. The large pullback has put more emphasis on the dominant bearish bias; thus price is expected to go further southwards this week, reaching the support lines at 1.1600 (an easy target), 1.1550 and 1.1500. USDCHF Dominant bias: Bearish This pair is bearish in the long-term, but bullish in the short-term. It is somewhat weird that both USDCHF and EURUSD have been bearish for some time, but the situation seems about to change. On June 14, there was a sudden bullish breakout, which was strong enough to bring about a short-term bullish signal. There is a possibility that price could keep on going northwards this week, reaching the resistance levels at 1.0000 (an important level), 1.0050 and 1.0100. However, an exceptionally strong buying pressure would be needed for the resistance level at 1.0100 to be reached. GBPUSD Dominant bias: Bearish In the first week of June, Cable consolidated in the context of a downtrend. The same thing happened last week…. before the bearish movement that occurred on Thursday, which points to bears’ supremacy. The weakness in the market is currently visible and since the outlook on GBP pairs is bearish for this month, further southwards movement is expected, which would enable price to reach the accumulation territories at 1.3250, 1.3200 and 1.3150. USDJPY Dominant bias: Bullish USDJPY managed to go upwards last week, and it was able to close above the demand level at 110.50 on Friday. There is a Bullish Confirmation Pattern in the market, which points to the possibility of price going towards the supply levels at 111.00, 111.50 and 112.00. Nonetheless, the further northwards the market goes, the greater the potential of a strong pullback, which can happen before the end of the week. EURJPY Dominant bias: Bearish The pullback that occurred on April 14 points to the fact that bears are still a force to reckon with. The major bias on the market is bearish, and since EUR is currently weak, price is supposed to continue moving downwards. The outlook on JPY is bearish for this week – another factor that may contribute to continuous weakness in the market. The next targets are the demand zones at 128.00, 127.50 and 127.00. GBPJPY Dominant bias: Bullish This trading instrument simply moved in a range last week. Price ranged between the supply zone at 148.00 and the demand zone at 146.00. This week, either the supply zone or the demand zone would be breached forcefully as price assumes a strong, directional movement. The most likely direction is bearish (which may invalidate the extant bullish bias), and that may enable price to reach the demand zones at 146.50, 146.00 and 145.50. Source: www.tallinex.com
  2. Note: This article shows why the use of stop loss is 100% mandatory, despite what suicide traders (who call themselves professionals may say). This article comes from someone with over 60 years of experience in various financial markets. Would you ever think of jumping out of an airplane without a parachute? Of course not, but that's what some people do when they trade the markets. They are very willing to put their money on the line, but they don't have much to protect them from a major disaster. Placing a stop, for example, can prevent you from allowing a small loss to turn into a big one, but many traders avoid placing stops. Why do some traders take risks by not placing stops? It can be difficult to know where to place a stop. If you fail to account for volatility, you will get stopped out too soon. Other people are afraid to place stops. Placing a stop requires you to consider the worst-case scenario, and to many, it's difficult to consider failure. It's easier to deny the potential problem, and to pretend it will not possibly happen. Many experts, however, suggest placing stops. They know that nothing is certain when trading the markets. They view protective stops as a kind of insurance policy that prevents a catastrophic loss. One seasoned trader I talked to, says "I never take a trade without knowing my stop. When I take a trade, I'm pretty convinced it's something worthwhile. I've already figured out my stop. I've accepted the (potential) loss before I ever clicked the button or made the call. So if it starts going against me, I don't feel a flood of emotions." For that trader, stops not only protect him from losses, but they help him control his emotions. Stops give him a feeling of security, and allow him to feel calm and relaxed. Experienced traders may use stops all the time, but even the most experienced traders have difficulty following them. For example, one trader I know, admits, "I've blown stops and it's painful. The weird thing is that money does not seem to be driving it. Afterwards, I sit and try to analyze the incident. I certainly knew better. I believe trading is something of a self-journey. It involves learning about your character, your self-control, and your ego." Still another trader also admits he blows his stops: "Sure. That happens all the time. There's nothing I can do about it. That's one of challenges that continue to engross me. Do you hold them or do you fold them? If you fold a long position and prices go up, you get angry because you made a mistake. If you hold a long position and prices go down, you become angry again. Nevertheless, you have to stay focused on what's going on and learn from the experience and try to apply it to the future. You're going to take your lumps in the market." Even though stops are difficult to set and difficult to keep at times, they are an essential component of risk management. Losses are commonplace in trading. As hard as it is to focus on losses, they are impossible to avoid. Rather than avoid thinking of the worst-case scenario, face it head on. Figure out what could go wrong and where you can place a stop to protect you from a huge financial loss. In the long run, you'll find you will limit losses and trade more profitably. Author: Joe Ross Source: TradingEducators.com The note below ends this piece. “So, what is a trader to do? Well, one of the things to do is to re-evaluate the way you envision the markets and your relationship to loss. What you want to develop is an I don’t care attitude regarding your trading. You must look at the markets as being exactly what they are, totally unpredictable. No matter how good a level looks, it is not a foregone conclusion that any particular outcome is definite. What we look for is the high probability trade. There are times when the probability may get very close to 100%, but no matter how close it gets it can never be 100%. This means that whenever you enter a trade you must embrace it as a possibility for loss. When you do this, it detaches you from the loss potential because you are prepared for it. Of course, you already have begun this process whether you realize it or not. You have put in a hard stop! This is imperative. The stop’s first and main job is to protect your capital. If your capital is gone you cannot trade, so it follows that this is the most important part of your trading; and, of course it is derived from an appropriate risk calculation.” – Dr. Woody Johnson (Source: TradingAcademy.com) www.tallinex.com wants you to make money from the markets.
  3. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (June 11 - 15, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair is bearish in the long-term, and bullish in a very short-term. Since May 30, price has been making a measure of bullish attempt (save the correction that was witnessed on Friday). A movement above the resistance lines at 1.1850, 1.1900 and 1.1950 will bring about a long-term bullish outlook on the market. On the other hand, a movement below the support lines at 1.1650, 1.1600 and 1.1550, will cancel the short-term bullishness in the market, while strengthening the major bearish outlook. USDCHF Dominant bias: Bearish The market has been caught in a slow and gradual bearish movement since May 10 (over 230 pips). It is possible that the market would continue going further downwards (albeit slowly), especially when EURUSD gains a lot of stamina. The support levels at 0.9800 (which has previously been tested), 0.9750 and 0.9700, would be reached soon, and that might bring about a strong Bearish Confirmation Pattern in the market. GBPUSD Dominant bias: Bearish Although there is currently a bearish trend in the market, price made faint effort to go upwards last week. It is much more likely that the faint bullish effort will eventually translate into a significant rally this week, because the outlook on GBP pairs is bullish. The distribution territories at 1.3450, 1.3500 and 1.3550 would be reached. This will eventually invalidate the bearish bias on the market, as everything turns bullish. USDJPY Dominant bias: Bullish This trading instrument is bullish in the long-term, but neutral in the short-term. In the last two weeks, price has generally oscillated between the demand level at 108.50 and the supply level at 110.50. As long as price continues to oscillate between those demand and supply levels, the short-term bias would be neutral. A break above the supply level at 110.50 will result in confirmation of the existing long-term bullish outlook while a break below the demand level at 108.50 will result in a clean bearish outlook. EURJPY Dominant bias: Bullish The bias on the EURJPY has just turned bullish. Since May 30, price has rallied by 500 pips, reaching the supply zone at 130.00, before the current bearish correction (which happened on June 8). A test of the demand zone at 127.50 will threaten the new bullish bias on the market; while a movement towards the supply zones at 129.50, 130.00 and 130.50 will strengthen it. There will be a measure of volatility in the market this week. GBPJPY Dominant bias: Bullish Although a bearish correction was experienced on Thursday and Friday, the bias on the market remains bullish. A sideways movement throughout this week will bring about a neutral bias on the market. A drop of 150 – 200 pips will result in a bearish signal, while a movement towards the supply zones at 147.50, 148.00 and 148.50, will save the ongoing bullish outlook on the market. It is much more likely that bulls would be able to hold out this week. This forecast is concluded with the quote below: “Once you know how to trade, no-one and nothing can sweep aside your skill. It’s something you can do no matter how old you are. As long as you have a dream in your heart that you yearn for, the sun never has to set on your identity as a ‘trader’.” – Louise Bedford Source: www.tallinex.com
  4. Technical Reviews for Gold and Silver (June 2018) GOLD (XAUUSD) Dominant Bias: Bearish Gold is bearish in the long-term, and neutral in the short-term. Apart from the noticeable downwards movement in the first half of May, price has not assumed any directional movement so far this week. A rise in volatility will be witnessed in this June, which would most probably favor bears, to corroborate the long-term bearish outlook on the market. The support levels at 1280.00, 1270.00 and 1260.00 may be breached to the downside. However, the expected southwards breakout may not happen without any challenge from bulls. SILVER (XAGUSD) Dominant Bias: Neutral Silver has been mostly neutral this year. The ongoing consolidation started in January and it may continue in June (although this does not rule out any possibility of a maniacal breakout in the month). This year, price has generally oscillated between the supply level at 17.600 and the demand level at 16.000. As long as price stays within those demand and supply levels, the neutrality of the market will be in place. The more the neutrality continues, the stronger and the more protracted a breakout will be when it does occur. This is not a good market for swing and position traders, but market neutral strategies are ideal right now. Source: www.tallinex.com
  5. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (June 4 - 8, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The pair trended downwards in the first few days of last week, and then started a bullish correction on May 30. Price went upwards by 200 pips in the context of a downtrend, but the movement was not significant enough to override the extant bearishness in the market (except the resistance line at 1.1800 is exceeded). The outlook for EUR pair is strongly bearish for this week and for this month, and so bulls should be careful. USDCHF Dominant bias: Bearish USDCHF has been moving downwards in the past few weeks; which was an unusual thing, considering the fact that it usually goes in a negative correlation with EURUSD. However, the situation will change this week, as USD is expected to begin gathering stamina at some point (before the end of the week). This would aid a strong bullish reversal in USDCHF and put more bearish pressure on EURUSD. GBPUSD Dominant bias: Bearish Cable has been trending southwards for almost two months: Therefore the shallow rally that was seen on Friday is a totally insignificant thing. Price has dropped about 1,100 pips since April 17, and that is just the beginning. The outlook on GBP pairs is mostly bearish for June, and as a result, directional long trades may not make much sense this month. GBPUSD tends to go into positive correlation with EURUSD, and the accumulation territories at 1.3300, 1.3250 and 1.3200 would be reached before the end of the week. USDJPY Dominant bias: Bullish This trading instrument is bullish in the long –term, but bearish in the short-term. Since March 26, a long-term bullish journey started, but short-term bearish effort was also started on May 21. The short-term bearishness is still in place and it is supposed to override the long-term bullish bias on the market. This is because there is a very strong bearish outlook on JPY pairs this month, and so, USDJPY would eventually become like other JPY pairs, which are already bearish. EURJPY Dominant bias: Bearish There is a Bearish Confirmation Pattern in this market, as a result of a vivid weakness that began in the market in April 16. Price has shed roughly 700 pips since then. Last week, the bearish journey continued as price rammed into the demand zone at 125.00, and then bounced upwards (300 pips), without being able to form a confirmed bullish bias. This week, a bearish reversal is expected, because of the weakness in EUR and owing to the bearish outlook on JPY pairs. GBPJPY Dominant bias: Bearish In the first half of last week, this cross dropped and then started rising in the second half of the week. However, the major bias remains bearish and the rally that was seen was an opportunity to sell short dearly. Since GBP is weak and JPY is expected to gain further stamina, a bearish movement of at least 500 pips is expected in the month of June, and that may start before the end of this week. This forecast is concluded with the quote below: “You have to study the markets and learn how to take out profits from the market action… You can build up your trading skills through practice and experience and feel good knowing that you have mastered a skill that few have developed.” – Joe Ross Source: www.tallinex.com
  6. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (May 28 – June 1, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish There is a very strong Bearish Confirmation Pattern on EURUSD. Price went southwards by 100 pips last week (it has gone south by almost 750 pips since April 19). The line at 1.1650 has been tested and breached to the downside, slightly. This week, further bearish movement is a possibility, and the support lines at 1.1600 and 1.1550 can be reached as well. However, there is also a possibility of a bullish reversal before the end of the week. USDCHF Dominant bias: Bullish This trading instrument is bullish in the long-term, and bearish in the short-term. Last week, price turned southwards, testing the level at 0.9900 several times and eventually closing below it on Friday. One reason why the market became bearish in the short-term is the strength in CHF. CHF still strong, as evident on major CHF pairs. The market can thus reach the support levels at 0.9850 and 0.9800, thereby erasing the long-term bullish outlook on the market. GBPUSD Dominant bias: Bearish This pair went southwards last week, closing below distribution territory at 1.3300 on Friday. Price shed almost 170 pips last week, and it has shed 1,050 pips since April 17 (an ideal market condition for trend followers). The GBP remains very week, and it is not advisable to seek long trades here, except to go short on rallies. The market is expected to lose at least, additional 150 pips this week, reaching the accumulation territory at 1.3150. USDJPY Dominant bias: Bullish The trend is also bearish in the short-term, but bullish in the long-term. From the high of last week, price went downwards by 230 pips, to test the demand level at 109.00, closing above it on May 25. Further bearish movement is expected this week, and this may affect the long-term bullish bias, as the demand levels at 109.00, 108.50 and 108.00 are aimed, for there is a considerable stamina in Yen. EURJPY Dominant bias: Bearish The downwards movement that happened last week has put an end to the recent sideways movement that was seen in the market. From May 9 to 22, the market consolidated in the context of a downtrend, and at last, there was a breakout in favor of sellers. This has really put more emphasis on the Bearish Confirmation Pattern in the market, coupled with the weakness in EUR. This week, the demand zones at 127.00, 126.50 and 126.00 may be reached. GBPJPY Dominant bias: Bearish The bias on GBPJPY is bearish and it should continue to be bearish. GBP is weak and JPY is strong. Besides, there was a huge drop of over 450 pips last week, slashing more and more demand zones as bears rejoiced. Since April 17, more than 800 pips have been shed, and this just seems to be the beginning, as stronger bearishness is anticipated. At least, another 200 pips would be shed this week. This forecast is concluded with the quote below: “…Trading appeals to so many of us. It generates a sense of freedom – a notion that we can do it from anywhere at anytime. The engagement with the market is at our own timing and on our own terms. We can in essence wander in and out whenever we want. Our movement is not at the behest of someone else and it not set according to their timetable. The nomad in us is fulfilled as a trader.” – Chris Tate Source: www.tallinex.com
  7. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (May 21 - 25, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair trended downwards last week, testing the support line at 1.1750. The market went essentially sideways on Thursday and Friday, and may go below the support line at 1.1750, to target another support line at 1.1700. About 250 pips have been lost this month, and it just seems to be the beginning. The outlook on EUR pairs is bearish for this week (EUR would be seen going downwards versus major currencies). USDCHF Dominant bias: Bullish This trading instrument is bullish in the long-term, but neutral in the short-term. Price has been consolidating in the past two weeks; whereas that is not strong enough to render the recent bullish bias useless. There is going to be a breakout at last, but the movement to the upside will no longer be a serious thing. While USDCHF is supposed to go upwards, there would be a challenge to the upwards move, because CHF is expected to gain serious stamina this week (major currencies will drop versus it). This means that the coming strength in CHF may hinder USDCHF from getting seriously pushed further northwards. GBPUSD Dominant bias: Bearish The Cable is bearish in the long-term, but neutral in the short-term. The bearish movement that started last month, has continued this month (although price has been ranging in the short-term). There remains a valid Bearish Confirmation Pattern in the market, despite the fact that it has been ranging in the last two weeks. A breakout is imminent, which would most probably favor bears. The accumulation territories at 1.3450, 1.3400 and 1.3350 could be reached thus week. . USDJPY Dominant bias: Bullish The bullish movement that was witnessed last week has saved the ongoing bullish bias in the market. The bullish movement started in March 2018 and it has held out till now. The supply level at 111.00 was tested before price closed below it on Friday. This week, there is a high probability that the market would continue going upwards, reaching the supply levels at 111.00, 111.50 and 112.00. EURJPY Dominant bias: Bearish The bias on this cross is bearish, but it is a precarious bias. What the market did last week was a zigzag movement without a clear directional propensity. Price moved upwards, downwards, and upwards again, within the supply zone at 131.50 and the demand zone at 129.50. A 200 –pip movement to the upside or to the downside would easily change the bias to bullish or bearish, and that is exactly what is expected this week. GBPJPY Dominant bias: Bullish The market is bullish, at least, in the very short-term. The current bullishness (which is not very strong), started on May 8, and it has been dragged on in spite of constant interferences from bears. Price succeeded in moving further northwards last week, almost reaching the supply zone at 150.00, before closing below it on May 18. This week, too much weakness in GBP could frustrate a clean bullish movement. Nevertheless, the supply zone at 150.00, might once again, be breached. This forecast is concluded with the quote below: “According to Kermit the Frog, it’s not easy being green. For skillful traders, it’s not hard to be green. May your trades be green.” – attributed Source: www.tallinex.com
  8. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (May 14 - 18, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair trended downwards last week, testing the support line at 1.1850. Several attempts to breach the support line to the downside were not successful, and as such price bounced upwards by 100 pips from the line. The upwards bounce is seen as an opportunity to buy at slightly higher prices because the outlook on the market remains bearish, and price may continue going further downwards, eventually breaching the adamant support line at 1.1850 to the downside. USDCHF Dominant bias: Bullish In the context of an uptrend this trading instrument went sideways last week, ranging between the resistance level at 1.0000 (previously a support level) and the resistance level at 1.0050. Eventually, price closed below the resistance level at 1.0000 on Friday, and it may even test the support levels at 0.9950 and 0.9900. However, price would rise again, possibly reaching the resistance level at 1.0000 and breaching it to the upside. GBPUSD Dominant bias: Bearish The current bearish trend started in April 17, and what happened last week was just a pause the bearish trend. The pause was a consolidation throughout last week; thus a breakout is imminent, which would most probably favor bears. The accumulation territory at 1.3500, which had been tested before, would soon be breached to the downside, as price targets other accumulation territories at 1.3450 and 1.3400. USDJPY Dominant bias: Bullish The bias on the market is bullish – and the trend is still in a precarious position. Price did not go in a strong directional movement last week. It only oscillated between the demand level at 109.00 and the supply level at 110.00. A breach above the supply level at 110.00 is anticipated this week, although bulls may not be able to enjoy that victory for a long time, because there is a possibility of a fall back towards the demand level at 109.00. EURJPY Dominant bias: Bearish In a bearish outlook, price trended downwards on Monday and Tuesday, and then started to make a rally effort. It managed to close above the demand zone at 130.50 on Friday, in the context of a downtrend. Unless the Euro gets strengthened considerably, there might be a reversal in favor of bears, which would enable the market to target the demand zones at 130.50, 130.00 and 129.50. GBPJPY Dominant bias: Bearish This cross was characterized by a zigzag movement throughout last week, although that did not affect the current Bearish Confirmation Pattern in the market. This week, price is supposed to continue moving further and further south (as soon as the current short-term trendlessness ends). The demand zone at 147.50 was tested last week, before price rallied a bit further. The demand zones at 147.50, 147.00 and 146.50 may be tested this week This forecast is concluded with the quote below: “Of course, most traders enjoy the process of building up profits, the satisfaction of adept trading, or simply outwitting the crowd. But it is not just the outcome that is important, it is also the process.” – Andy Jordan Source: www.tallinex.com
  9. A little bit of humor to get your Friday off to a chuckle: Chart - what you check after you exit trading, trying to understand what went wrong. Day Trading - trading which you start too late or exit too early. Margin - (if you are up) a safe situation with huge potential return (if you are down) an evil trick by Unseen Forces that can cause you losing more money than you have. Margin Call - what happens when your broker makes an accounting mistake. Moving Average - a curly line that has nothing to do with price movement if you have an open position. Position Trading - day trading that went the wrong way right after you took a position. Trend Line - an imaginary line on the price chart that only changes when the market is closed or when you are not looking. Source: Tradingeducators.com www.tallinex.com wants you to be a successful trader
  10. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (May 7 - 11, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD went downwards by 170 pips last week. It has gone downwards by 430 pips since April 19. There is a Bearish Confirmation Pattern in the market and it is supposed to continue going lower and lower, reaching the support lines at 1.1900, 1.1850 and 1.1800. USD is supposed to continue being strengthened, and so long trades are not currently recommended, until it is clear there is a change in the market. USDCHF Dominant bias: Bullish This pair has normally been going upwards as EURUSD is going downwards. Price has gained over 800 pips since February 16 (it gained 130 pips last week). The great psychological level at 1.000 has eventually been reached and a lot of activity has started around that level, as bears are struggling to prevent bulls from pushing price above the level. However, bulls will eventually win the struggle, and enable price to stay above the psychological level at 1.0000, as another resistance level at 1.0050. The USD reigns. GBPUSD Dominant bias: Bearish Since testing the distribution territory at 1.4350 on April 17, Cable has nosedive, shedding 850 pips since then (including 250 pips that were shed last week). Price tested the accumulation territory at 1.3500 on Friday, but closed above it. The outlook on GBP pairs is bearish for this week, and thus Cable should continue its downwards exploration, reaching the accumulation territories at 1.3500, 1.3450 and 1.3400. USDJPY Dominant bias: Bullish The bias on the market is bullish, but the trend is in a precarious position. Price did not go upwards significantly last week, neither did the bearish correction that followed help the matter. Once the supply level at 110.00 was tested, price got corrected by 100 pips, moving briefly below the demand level at 109.00 and then closing above it on Friday. Since the bullish bias is in a precarious situation, any movement below the demand level at 108.00 will result in a clear bearish signal. A movement to the downside is very much likely this week. EURJPY Dominant bias: Bearish This trading instrument has dropped by 300 pips since April 26. Roughly 250 pips were shed last week, owing to the weakness in EUR and a show of energy in JPY. There is a huge Bearish Confirmation Pattern in the market, and price is expected to continue going southwards, owing to the bearish outlook on JPY pairs this week. The demand zones at 130.00, 129.50 and 129.00 would be reached. GBPJPY Dominant bias: Bearish A very weak GBP has met a strong JPY, and the result was that price went out of balance, in favor of bears. There is a huge drop in the market (nearly 300 pips), as the demand zone at 147.00 was nearly tested. There is a bearish outlook on this cross, and further southwards journey is expected. There could be transitory upwards bounces in the market, but they would serve as good short-selling opportunities. This forecast is concluded with the quote below: “(Good) Trading happens outside your comfort zone… What I love about trading is the ongoing challenge and it makes me happy to know that I’m competing against some of the brightest minds on earth in the markets. They do what works.” - Marco Mayer Source: www.tallinex.com
  11. Technical Reviews for Gold and Silver (May 2018) GOLD (XAUUSD) Dominant Bias: Bearish In the first half of April, Gold made some visible bullish attempt. However, price came downwards noticeably in the second half of that month. Generally the market is very choppy… It has been coming down since last week, and May was started on a bearish note. Since there is a Bearish Confirmation Pattern in the market, the resistance levels at 1300.00, 1250.00 and 1200.00 would be reached this week. As the market is quite choppy and volatile, some transitory spikes, rallies and gap-ups could be experienced in May, but bears would win ultimately. SILVER (XAGUSD) Dominant Bias: Bearish Silver is bearish in the short-term and the medium-term. Just like Gold, it went upwards within roughly the first two weeks of April and then came downwards in the last two weeks of the same month. Over 6,000 pips were shed last week, and this week has already seen a loss of additional 4,500 pips, as price reached a low of 16.0484. There has been a recent temporary upwards bounce in the market (while a Bearish Confirmation Pattern is present in it). The upwards bounce could end up being another opportunity to sell short at slightly higher prices, because price would come downwards in May, reaching the demand level at 16.0000 and possibly exceeding it southwards. Source: www.tallinex.com
  12. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (April 30 – May 4, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair experienced a strong bearish movement last week, dropping 230 pips, and nearly reaching the support line at 1.2050. However, price closed above the support line at 1.2100, and that might be a good opportunity to sell short at a better price, for price may continue going downwards this week, because USD keep on being strong. The support lines at 1.2100, 1.2050 and 1.2000 are the next targets. EUR pairs will also experience strong volatility in May. USDCHF Dominant bias: Bullish This trading instrument went upwards last week (gaining 150 pips). Over 300 pips have gained in the last two weeks, and this is just the beginning, because the northwards journey would continue as a result of the stamina in USD. The resistance level at 0.9900 has been tested and it would be tested again, and get breached to the upside. That is when price would target additional resistance levels at 0.9950, and ultimately 1.0000. GBPUSD Dominant bias: Bearish GBPUSD shed 250 pips last week, and it has shed more than 600 pips since April 17. There is a huge Bearish Confirmation Pattern in the market, which portends possibility of further southwards journey. The accumulation territories at 1.3750, 1.3700 and 1.3650 could be reached before the end of the week. The accumulation territory at 1.3750 was tested last week, and it would be tested again this week, for the outlook on GBP pairs remains bearish. GBP pairs will also experience high volatility in May. USDJPY Dominant bias: Bullish Price started rallying last month, and it rallied considerably last week. The bias on the market has thus turned completely bullish as price neared the supply level at 109.50, and it is now close to the demand level at 109.00… However, price may not be able to go protractedly upwards again, because there is a very strong bearish outlook on JPY pairs for this week, and for May 2018. Long positions should be liquidated because bulls will suffer seriously in May. EURJPY Dominant bias: Bullish This cross did not made any strong directional movement last week. Price made a weak bullish effort on Monday and Tuesday, consolidated on Wednesday and then got a bearish correction on Thursday and Friday. Although the ongoing bias is bullish, bulls are obviously getting weaker and weaker, showcasing their lack of interest in pushing price upwards. The recent bearish correction may eventually turn out to be something significant. A large movement is expected on EURJPY in May, and it would mostly favor bears. GBPJPY Dominant bias: Bearish Just like EURJPY, albeit in a significant mode, this cross pair made a clear bullish effort on April 23 and 24, then ranged on April 25; only to dip on April 26 and 27. The dip on April 27 was strong enough to enforce a formation of a Bearish Confirmation Pattern in the market. Given the weakness in GBP and a bearish outlook on JPY pairs (Yen would become strong), this cross would continue to go further southwards, reaching the demand zones at 150.00, 149.50 and 149.00 this week. This forecast is concluded with the quote below: “What you need is the safety of a detailed trading plan: specific guideline to follow. Making a plan follows the wisdom of any job being 80% preparation and only 20% execution. The more clearly the plan is laid out, the easier it is to follow. And when the plan is easy to follow, it's likely that you'll stick with it. You'll be disciplined and in control of your emotions and thought processes.” – Andy Jordan (Source: Tradingeducators.com) Source: www.tallinex.com
  13. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (April 23 – 27, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral The bias is neutral in the long-term term, and bearish in the short-term. Price went southwards last week, losing up to 130 pips, after testing the resistance line at 1.2400. The support line at 1.2250 was almost tested, but price closed close to the resistance line at 1.2300. Owing to the short-term bearishness in the market, further southwards journey is anticipated, which may push price towards the support lines at 1.2250, 1.2200 and 1.2150. USDCHF Dominant bias: Bullish The Bullish Confirmation Pattern in this market was partly brought about by the anticipated stamina in Greenback. Since testing the support level at 0.9200 on February 16, price has gained 550 pips (gaining 220 pips in this month alone), closing around the resistance level at 0.9750 on Friday. Price should continue going further upwards as EURUSD is pushed further southwards. The resistance levels at 0.9800 and 0.9850 are the targets for this week. GBPUSD Dominant bias: Bearish The Cable consolidated in the first week of April, went upwards in the second week, and came downwards heavily in the third week (last week). After testing the distribution territory at 1.4350, price has nosedived by 350 pips, reaching the accumulation territory at 1.4000, and closing slightly below it. The bias on the market has now turned bearish, and that may be upheld this week, as the accumulation territories at 1.3950, 1.3900 and 1.3850 are aimed. USDJPY Dominant bias: Bearish The trading instrument is bearish in the long-term, and bullish in the short-term. After price rammed into the demand level at 105.00 on March 23, it has gone upwards by 280 pips since then. Price closed above the demand level at 107.50 on Friday and it may even reach the supply levels at 108.00 and 108.50 this week…. Before the anticipated reversal occurs. The reversal may be strong enough to take price towards the demand level at 107.50. EURJPY Dominant bias: Bullish This is a bull market in the near-term, but the bullishness in the market is very weak. Price did almost nothing last week, save some consolidating movement throughout the week. The consolidation may continue this week, but a breakout is imminent, which would most probably favor bears. Thus, the demand zones at 132.00, 131.50 and 131.00 could be reached, which may effectively challenge the recent bullishness in the market. GBPJPY Dominant bias: Bearish There is now a Bearish Confirmation Pattern in the market, which was forcefully brought about by the large pullback that occurred in the market. Roughly 280 pips were shed as price closed below the supply zone at 151.00 on April 20, 2018. It is expected that further southward movement would play itself out this week, because the outlook on JPY pairs is somewhat bearish for the week. This means the accumulation territories at 150.50, 150.00 and 149.50 would be reached easily. This forecast is concluded with the quote below: “Accept that you can trade, it really isn’t as cognitively difficult as people make out. It is emotionally and psychologically difficult but it doesn’t require much brain power despite what you may be told. Therefore, it is within the realm of most to be able to understand the basics of trading.” – Chris Tate Source: www.tallinex.com
  14. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (April 16 - 20, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral Irrespective of the bullish attempt that was witnessed last week, the outlook on EURUSD remains neutral. The neutrality has been ongoing for over 2 months, and the bullish attempt that happened last week pales into insignificance when compared to the overall outlook on the market. Price currently oscillates between the support line at 1.2200 and the resistance line at 1.2400. There is a going to be a directional bias once that support line or that resistance line is breached. However, a breach of the support line at 1.2200 is much more likely. USDCHF Dominant bias: Bullish There is some form of bullishness in this market. Since the support level at 0.9200 was breached on February 16, price has moved upwards by 440 pips, closing above the support level at 0.9600 on Friday. This week is supposed to be bullish, because USD will likely gain some stamina against certain currencies like EUR, CHF, AUD and NZD (with the exception of GBP). The first object of attack this week is the resistance level at 0.9650. GBPUSD Dominant bias: Bullish The market gained 220 pips last week, almost reaching the distribution territory at 1.4300, and getting corrected lower, to close below the distribution territory at 1.4250. There is a Bullish Confirmation Pattern in the market, and price is supposed to go seriously upwards again, breaching the distribution territories at 1.4250, 1.4300 and 1.4350 to the upside. Short trades are not yet recommended. USDJPY Dominant bias: Bearish The trading instrument is bearish in the long-term, and bullish in the short-term. There is a weak short-term bullishness owing to the fact that price made some effort to go upwards last week, gaining only 80 pips. Price managed to briefly breach the supply level at 107.50, but it could not close above it on Friday (it closed below it). However, price would be able to go above the supply level at 107.50; even reaching other supply levels at 108.50, 109.00 and 109.50. EURJPY Dominant bias: Bearish This cross is bearish in the long-term, and now bullish in the short-term. It has gained roughly 250 pips this month, and it can gain another 250 pips before the end of the month. That is something that can bring about a long-term bullish outlook on the market as it goes through the supply zones at 133.00, 133.50 and 134.00, even exceeding those supply zones as price goes further and further northwards. GBPJPY Dominant bias: Bullish There is a Bullish Confirmation Pattern in the market. The market gained roughly 500 pips in March and it has gained over 400 pips this month, closing above the demand zone at 152.50 on Friday. The outlook on GBP/JPY and most other JPY pairs, remains bullish for this week. The price is expected to reach the supply zones at 153.00, 153.50 and 154.00: the targets that could even be exceeded. This forecast is concluded with the quote below: “The markets never reward desperation. They only reward clear thinking, discipline and courage.” – Louise Bedford Source: www.tallinex.com
  15. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (April 9 - 13, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The pair is bearish in the short-term, which is still a weak bias. Price went downwards last week, moving briefly below the support line at 1.2250, and closing above it on Friday. There are resistance lines at 1.2300, 1.2350 and 1.2400. Things will go bullish when the resistance line at 1.2400 is breached to the upside. There are support lines at 1.2250, 1.2200 and 1.2150. Things will go strongly bearish when the support line at 1.2150 is breached to the downside. USDCHF Dominant bias: Bullish The market remains bullish in the short-term (and its fate is largely subject to whatever happens to EURUSD). Price went upwards last week, almost reaching the resistance level at 0.9650, and then getting corrected lower. The short-term bullishness will be rendered ineffectual only when price goes below the support level at 0.9500. On the other hand, a movement above the resistance level at 0.9700 will result in a stronger bullish bias on the market. GBPUSD Dominant bias: Neutral The market is neutral because there was no significant directional movement last week. Price hovers between the distribution territory at 1.4200 and the accumulation territory at 1.3900. Price would need to go above that distribution territory or below the accumulation territory, for a directional bias to form, but that would require a big momentum to happen. A possibility of a movement to the upside is very strong because the outlook on GBP pairs is very bullish for this week. Therefore a rally is likely in the market. USDJPY Dominant bias: Bearish The trading instrument is bearish in the long-term, and bullish in the short-term. In the short-term, price gained 180 pips from the low of last week, reaching the supply level at 107.50. Then there was a slight bearish correction in the market, which would eventually turn out to be an opportunity to buy long at better prices. A rally is very likely this week, which would push price upwards by 200 pips. This movement would be strong enough to override the long-term bearishness in the market. EURJPY Dominant bias: Bearish This cross is bearish in the long-term, and rather neutral in the short-term. Another reality is that the market condition is currently choppy, but that might come to an end when a rally occurs in the market. There is a strong likelihood of a rally here, owing to a bullish expectation on JPY pairs for this week. The supply zones at 131.50, 132.00 and 132.50 could be reached when a bullish movement begins. GBPJPY Dominant bias: Bullish GBPJPY cross remains bullish, especially in the medium-term. The market gained roughly 500 pips on March and it has gained over 200 pips this month, closing above the demand zone at 150.50 on Friday. There is a Bullish Confirmation Pattern in the market, and thus, price is expected to continue going upwards this week, reaching the supply zones at 151.00, 151.50 and 152.00. The supply zone at 152.00 could even be exceeded. This forecast is concluded with the quote below: “You have what it takes to be a great trader! You may know this already or you may be curious to find out if you really do have what it takes.” – VTI Source: www.tallinex.com
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