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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
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    Meta Taders 4
  • Broker
    Tallinex Limited
  1. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (October 8 - 12, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market was bearish last week, and the bearishness has become pronounced since September 26, 2018. Since the mentioned period, price has lost about 300 pips (or more or less). The market would remain bearish as long as USD is strong, and the support lines at 1.1450, 1.1400 and 1.1350 may be tested. There could be temporary bullish effort on the way, but the general movement this week should be bearish. USDCHF Dominant bias: Bullish The Bullish Confirmation Pattern on this market has been steady and unaffected. Since September 21, price has gained about 390 pips (it gained about 140 pips last week). Price topped at 0.9953 and ended Friday on a slight bearish note. The outlook for this week is bearish, as price is expected to continue going upwards until it reaches the resistance level at 1.0000 where a very strong and stiff resistance will be met. GBPUSD Dominant bias: Bearish The bias on the GBP is bearish but there is a serious rise in a bullish momentum, which would eventually render the bearish outlook ineffectual. Price went downwards from Monday till Wednesday and then started going upwards. The upwards movement was strong enough to threaten the extant bearishness in the market, and once the market gains another 200 pips (which is expected to happen this week), the bias on the market will turn bullish. USDJPY Dominant bias: Bullish USDJPY went upwards from October 1 to 3, and then started going downwards from October 4. Unless the demand levels at 112.00 is breached to the downside, the outlook on the market will remain bearish. A movement from here, towards the north, will result in confirmation of the current bullish bias. That means failure to go upwards will eventually result in “sell” signal in the market. EURJPY Dominant bias: Bullish This cross is bearish in the short-term, but bullish in the long-term. The movement that was experienced last week was not that much, but this week might be different, as JPY pairs break out with renewed momentums. Should price drop 200 pips from here, the bias on the market will turn bearish. Should price rise by 200 pips from here, the long-term bullish bias on the market will eventually be saved. GBPJPY Dominant bias: Bullish The rally attempt that was seen last Friday ended the consolidation that was witnessed in the last two weeks. If not for the fact that the JPY is kind of strong in its own right, the market would have gone upwards significantly last week (Just as GBPCHF, GBPAUD and GBPNZD have gone significantly upwards). However, any signs of weakness in JPY may result in a strong bullish movement, which may enable price to reach the supply zones at 149.50, 150.00 and 150.50. This forecast is concluded with the quote below: “Your trading life is the sum total of all of your experiences, not just the ones you are comfortable with.” – Woody Johnson Source: www.tallinex.com
  2. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (October 1 - 5, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair has become bearish, especially in the short-term. Last week, price went sideways from Monday to Wednesday and then dropped sharply on Thursday and Friday. The drop was 170 pips, and it was enough to bring about a near-term bearish outlook on the market. This week, the bearishness could continue as the market is projected to drop at least, another 100 pips, which would enable the support line at 1.1500 to be reached. USDCHF Dominant bias: Bullish There is a Bullish Confirmation Pattern on USDCHF, brought about by the strength in the Greenback (and the bearish run on EURUSD). The rate at which USDCHF has gone upwards is faster and more serious that the rate at which EURUSD has come downwards. Price gained 230 pips last week, ending the recent bearishness in the market and ending September 28 on a bullish note. The outlook on the market is bullish for this week. GBPUSD Dominant bias: Bearish In the first 3 weeks of September, Cable made commendable effort to bring about a sustainable bullish signal in the market. Nevertheless, the downward movements that was witnessed on September 21, 27 and 28, have rendered the bullish effort useless. In fact, the bias on the market is now bearish and the accumulation territories at 1.3000, 1.2950 and 1.2900 could be tested before the end of the week. USDJPY Dominant bias: Bullish This is a bull market, with a clean Bullish Confirmation Pattern. The strength of USD, plus the perceived weakness in JPY, has helped the buying pressure in the last few weeks. Since September 7, the market has gained about 320 pips, and it might gain at least, another 200 pips within the next 2 weeks. This week is going to be volatile for JPY pairs, as it is the new week of the October. EURJPY Dominant bias: Bullish On September 24 and 25, this cross went sideways. From September 26 to 28, it began to pull back. The pullback was not significant enough to bring about a bearish signal in the market, unless price falls by another 200 pips. From this point, price has a higher probability of going upwards than going downwards, and as a result of this, the supply zones at 132.00, 132.50 and 133.00 might be attained before the end of this week. GBPJPY Dominant bias: Bullish There is a valid bullish outlook on this trading instrument, irrespective of the fact that the market movement was flat throughout next week. It is possible that the flatness in the market could continue for a few more days, before there is a breakout in the market. When the breakout occurs eventually, it would end the current flatness in the market and most probably favor bulls. The expected bullish movement could even become significant, especially when GBP finally begins to gather strength. This forecast is concluded with the quote below: “…The good thing is that there is no age limit when it comes to trading and, unlike the Olympics, you don't have to worry so much about the physical part as you can go for gold from the comfort of your chair.” – TradingEducators Source: www.tallinex.com
  3. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (September 24 - 28, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish The current bias on the market is bullish, but the bullishness is not very strong. Price consolidated in the first few trading days of last week, and went higher on Thursday. The outlook on the market remains bullish for this week, and thus, buying pressure may take price towards the resistance lines at 1.1750 (which was previously reached), 1.1800 and 1.1850. There is also a good support line at 1.1650, which should try to prevent any meaningful pullback along the way. USDCHF Dominant bias: Bearish The market dropped roughly 100 pips last week, having dropped 400 pips since August 17, 2018. Since there is a Bearish Confirmation Pattern in the market, it is assumed that the price should continue going further and further downwards, reaching the support levels at 0.9550, 0.9500 and 0.9450 within the next few weeks. There could be some transitory rallies along the way, but they should not be significant to the extent of overriding the current bearish market. . GBPUSD Dominant bias: Bullish This long-term and the short-term biases are bullish. Since August 16, 2018, price gained 600 pips, resulting in a confirmed “buy” signal. On September 21, there was a serious pullback in the market, which made price drop 200 pips from the high of that day. The drop was not strong enough to bring about a “sell” signal, unless the market drops at least, another 200 pips. This will determine what the market will do next. USDJPY Dominant bias: Bullish About two weeks ago, a clean bullish signal was generated on this currency trading instrument, and the signal has been sustained till now. For about two weeks, price has gone northwards slowly and gradually, gaining about 200 pips. There is much room for price to go northwards: The supply levels at 113.00, 113.50 and 114.00 could be aimed at, although a very strong buying pressure is needed to reach the supply level at 114.00.. EURJPY Dominant bias: Bullish Like USDJPY, this cross has been going upwards in the last two weeks (a gain of roughly 500 pips). Since there is a Bullish Confirmation Pattern in the market, further northwards journey is possible, even in spite of the minor bearish retracement that was witnessed last Friday. The supply zones at 135.50, 136.00 and 136.50 could be reached within the next several trading days. They could even be exceeded. GBPJPY Dominant bias: Bullish Since a bullish signal was generated on GBPJPY, price has made a significant gain. Nonetheless, there was a pullback on September 21, which cannot be ignored (a pullback of 240 pips). It is normal for price to resume its northward journey from here, giving a good opportunity to go long at lower prices. On the other hand, the market could pull back further, and that may threaten the recent bullish signal. This forecast is concluded with the quote below: “Any one of the many trading strategies available to traders can be used following the principle of matching personal risk tolerance to the amount of risk in the market.” – Joe Ross Source: www.tallinex.com
  4. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (September 17 - 21, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral The bias on EUR/USD has essentially turned neutral, as price has not made any significant upwards or downwards movement in the last several trading days. There is a resistance line at 1.1750, and there is a support line at 1.1500. Either the resistance line must be breached to the upside, or the support lines must be breached to the downside before there could be a directional bias. That is what is expected before the end of this week or next. USDCHF Dominant bias: Bearish This is a bear market. In the medium-term, the market has been swinging up and down. The price action is characterized by higher lows (which proffer opportunities to sell short at slightly higher prices), and lower lows, which follow the line of the least resistance. The most probable direction for the market this week is bearish. Price has remained bearish when EURUSD was weak, and therefore, it would be very difficult for USDCHF to trend upwards when EURUSD breaks out upwards. GBPUSD Dominant bias: Bullish A clean bullish signal has already been generated in the market. Even in the higher time horizon, price has been going upwards in the past four weeks. On Friday, the market closed on a slightly bearish note – which would eventually turn out to be a temporary pullback in the market. The recent bullish journey is expected to resume, and the distribution territories at 1.3100, 1.3150 and 1.3200 may be reached within two weeks. USDJPY Dominant bias: Bullish A straightforward bullish signal has been generated and there is a high probability that the market would continue to make higher highs, owing to the Bullish Confirmation Pattern that was present in the market. Within the next several trading days, price is expected to reach the supply levels at 112.50, 113.00 and 113.50. There is also a demand level at 111.00, which is supposed to be a barrier to any bearish pullbacks along the way. EURJPY Dominant bias: Bullish The bias is bullish, but the bullishness is weak. Further bullish movement is expected but any surprisingly negative fundamentals can send the market tumbling (owing to the precariousness of the market). The next targets are the supply zones at 130.50, 131.00 and 132.00. A very strong buying pressure is needed for the supply zone at 132.00 to be breached to the upside, and this will not come without bearish machinations. GBPJPY Dominant bias: Bullish This cross gained about 370 pips last week, having gained over 700 pips since August 15. Price closed on Friday, around the demand zone at 146.00. The outlook on the market remains bright, and therefore, in spite of any possible pullbacks in the market, general movement will be towards the north. The Bullish Confirmation Pattern in the market will aid price towards the supply zones at 146.50, 147.00 and 147.50. This forecast is concluded with the quote below: “I realized that the more common pitfalls you avoid, the more edges you have relative to other traders operating with less awareness.” – VTI Source: www.tallinex.com
  5. TIMELY EXIT “Successful Trading Is Not About Being Right.” – VTI What is your tolerance for pain? Consider the following scenario. You have 10% of your account balance on the line. For the past two days, prices have been going in the direction you had anticipated, but today, an announcement was made that caused a market move that caused all your profits to be wiped out in an hour. What will you do? See if prices will move back to where you are okay again? At times like these, it is useful to have a clearly defined trading plan with a specific exit strategy. Trading is inherently uncertain. You never know exactly what will happen next. That’s what makes the business exciting to some traders but nerve wracking to others. How you handle adverse events that make prices move against you depends on your personality. The best way to protect your capital is to use protective stops. When formulating your trading plan, you must decide how much pain you can tolerate. How much money can you lose before you have to exit the trade? You can set this exit point as a formal stop loss, you can use the automatic settings on your trading platform to set a stop, or you can use a mental stop (not recommended). The problem with a formal stop loss procedure, whether it is a formal order or an automatic setting on your trading platform, is that a transitory change in price can ‘stop you out.’ if the placement of your stop loss does not adequately account for volatility. It’s hard to know how far a stock may move and a temporary drop can ruin your trading plan when a protective stop is not set properly. Mental stops may be more useful, but you run the risk of not being able to exercise your mental stop (think heart attack, nervous breakdown, stroke, personal emergency, computer failure, etc.). You can decide how far a stock price must move against you before you will liquidate the position. When prices reach the exit point, you can decide whether the low price is transitory or represents a significant change in trend. You can then exit the trade. This all sounds good in theory, but depending on your personality, you may not be able to carry out this strategy. If you have trouble controlling your emotions and you use a mental stop, for example, you may have trouble closing the trade when it reaches your exit point. Some people panic and out of fear don’t close their position when their mental stop is reached. These people may need to impose the proper amount of discipline on their trading actions by using an electronic stop or a formal stop-loss order. Minimizing trading losses is the hallmark of successful trading, but not all traders are equal when it comes to their ability to trade decisively under strain. If you want to trade profitably, you have to work around your personality. If you are cool headed, disciplined, and are willing to take the risk even under the most stressful conditions, you can use mental stops to protect your capital. But if you are easily shaken by choppy market action, you might want to use electronic, automatic stops to protect yourself. Whatever you do, however, minimize losses as much as possible. It’s the only way to trade profitably in the long run. Author: Joe Ross Source https://www.tradingeducators.com/edition-733 The article is ended with 3 quotes below: “Getting out of trades too early with tiny profits very often is a sure road to bankruptcy. Sure it feels good to take some off the table right away…but it’s hardly ever successful in the long run.” - Marco Mayer “To make money out of these still requires good management. It is always challenging to see some traders make money from a trade while some traders lose money from the very same trade.” – Joe Ross “Don’t let those losses lead to mindset traps that can stop you from taking the next trade. Change the way you think about your loss, and you’ll regain your motivation. I guarantee it.” – Louise Bedford www.tallinex.com wants you to make money from the markets.
  6. Technical Reviews for Gold and Silver (September 2018) GOLD (XAUUSD) Dominant Bias: Bearish Gold is a bear market. In August price dipped by over 6000 pips, reaching around the support level of 1160.00 (a support level). From there, price moved upwards by 5000 pips and then moved sideways till the end of the month. All this happened in the context of a downtrend; plus the market has been moving sideways in the last two weeks. A breakout is imminent, and that would happen anytime before the end of September and it would most probably favor bears. Thus price is expected to go downwards by at least 5000 pips from here. SILVER (XAGUSD) Dominant Bias: Bearish Just like Gold, Silver is also bearish, but its downwards movement is more pronounced than that of Gold. Price dropped roughly 10,000 pips in August alone and it has dropped 32,000 pips since June 14, 2018. Owing to the current Bearish Confirmation Pattern, it is rational to expect further bearish movement (at least another 10,000 pips) in September. 4000 pips have already been lost this month, and after the current consolidation ends, further bearish journey should continue, leading to more shedding of pips. Source: www.tallinex.com
  7. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (September 3 - 7, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair started rising on August 15, and it gained more than 400 pips since then. However, there was a bearish retracement that took place last Thursday and Friday, which was not significant enough to override the recent bullish bias in the market (unless there is at least, 300 pip-drop from here). Price is supposed to recover and move higher this week, reaching the resistance lines at 1.1600, 1.1650 and 1.1700; which were all previously tested. USDCHF Dominant bias: Bearish This is a bear market. Since the last consolidation phase ended, price has come down by over 250 pips, closing on a bearish note on Friday. Since there is a Bearish Confirmation Pattern in the market, it is rational to expect further bearish pressure, which may push price towards the support levels at 0.9650, 0.9600 and 0.9550. The selling pressure needs to be significant for the support level at 0.9550 to be breached to the downside. GBPUSD Dominant bias: Bearish Cable is bullish in the short-term, but bearish in the long-term. Further northward movement will endangered the long-term bearish bias, while further southwards movement will strengthen it. Price closed below the distribution territory at 1.2900 on Friday, and may go slightly lower before any rally effort is made. The possibility of price moving lower is stronger than its possibility of moving higher. USDJPY Dominant bias: Neutral The bias is now essentially neutral, and the situation in the market is currently dicey (as the market is choppy). Recently, price has swung between the supply level at 112.00 and the demand level at 109.50. As long as price is between these demand and supply levels, the neutrality in the market will persist. Once the demand level is breached to the downside (and price stays below it) or the supply level is breached to the upside (and price stays above it), the neutrality will end and a directional bias will start. Nevertheless, this requires a strong momentum to happen. EURJPY Dominant bias: Bullish Since August 15, price has gained roughly 600 pips, before the bearish movement that was witnessed on August 30 and 31. From last week’s high, price went downwards by 200 pips, and it could still go downwards by another 100 pips or more or less. The bullish bias will remain intact as long as price does not go below the demand zone at 126.00. Bulls will generally continue to endeavor to push the price upwards. GBPJPY Dominant bias: Bullish The cross is bullish in the very short-term (though the long-term bias is somewhat bearish). A strong movement towards the south will result in more emphasis on the recent bearishness in the market, while a strong movement to the upside will result in a Bullish Confirmation Pattern in the market. On the upside, the supply zones at 144.50, 145.00 and 145.50 could be reached, provided the market does not continue its current bearish correction. This forecast is concluded with the quote below: “Those who know me or who have traded with me know that I am always looking for a simple and straightforward approach to trading.” – Andy Jordan Source: www.tallinex.com
  8. Do you want to be a successful trader? Then you need to unlock your potential and develop the right habits and routines. Experience shows that people want to keep doing what they are doing, while expecting different results. In trading, that means they carry on trading in a certain way even when it brings poor results. Making a career out of trading means you have to identify what doesn’t work for you, and stop doing it. But that’s not easy – nobody likes being told they are wrong. Your mind is the biggest obstacle that you need to overcome. It prevents you from following trading plans and deceives you into disobeying winning rules because of a transitory setback, thus missing great opportunities to make decent profits. You can only unlock your trading potential through the realities of trading. Unlock Your Potential with the Realities of Trading (almost free of charge): http://www.advfnbooks.com/books/unlockpotential/index.html
  9. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (August 27 – 31, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair gained a minimum of 200 pips last week, thus forming a bullish signal in the short-term. Further bullish movement is supposed to bring about a strong Bullish Confirmation Pattern, even in the long-term, as more gains are made in the market. Price would continue moving upwards this week, and bulls might target the resistance lines at 1.1650, 1.1700 and 1.1750 before the end of this week. USDCHF Dominant bias: Bearish This trading instrument has become bearish in the short-term (though the market remains neutral in the long-term). Last week, the market fell by over 130 pips, in reaction to the bullish effort evident on EURUSD. Should price continue dropping more and more southwards, the long-term outlook on the market itself will become bearish. Right now, the support levels at 0.9800, 0.9750 and 0.9700. GBPUSD Dominant bias: Bearish Although Cable made a faint effort to rally last week, the outlook remains bearish in the long-term. On Friday, price closed on a neutral note, but a rise in momentum is expected any day (before the end of the month); and that is expected to be in favor of bulls. Nonetheless, there is a need for price to go upwards by at least, 400 pips before the long-term bias can turn bullish. Right now, price is consolidating. USDJPY Dominant bias: Bullish In the long-term and the short-term, a Bullish Confirmation Pattern is present in the market. Last week, price managed to gain 140 pips, from the weekly low of 110.00. The probability of price going northwards is higher than its probability to reverse and go seriously downwards. While there may be bearish threats along the way, USDJPY is supposed to generally go northwards this week, reaching the supply levels at 111.00, 111.50 and 112.000. EURJPY Dominant bias: Bullish This cross made a significant rally last week, rising from the demand zone at 126.50, and gaining about 340 pips, before closing around the price zone at 129.50 on Friday. Bulls are still intent on pushing the market upwards – that is the expectation for this week. At least, another 200 pips would be targeted this week, as price aims at the supply zones of 130.00, 130.50 and 140.00 might be reached this week. GBPJPY Dominant bias: Bearish This cross is bearish in the long-term, but bullish in the very short-term. Last Monday, price consolidated, rallied on Tuesday and Wednesday, and then consolidated for the rest of the week. The outlook on the market is bullish for this week, and in case the expected bullish movement is serious enough, the long-term bias on the market should become bullish. This week, the supply zones at 143.50, 144.00 and 144.50, could be targeted. This forecast is concluded with the quote below: “Price action behavior in all timeframes reflects rational human behavior. Thus, whether a trade is executed on the 5 minute or the monthly chart, price action and the trading idea remains equally valid. Capital markets are fractal in nature. If you want to trade a system that preserves its’ edges over the long-run, then the low-risk idea should be based on humans’ psychological biases.” - Gabriel Grammatidis Source: www.tallinex.com
  10. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (August 20 - 24, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market is bearish, and price went further downwards until it reached the support line at 1.1350. Further drop was rejected around the support level and a rally effort ensued. However, the rally effort was not serious enough to threaten the recent bearish outlook on the market. There is a need for price to go further upwards by another 200 pips before the bearish outlook can be rendered ineffectual. USDCHF Dominant bias: Neutral The most probable direction for this pair is southwards, once a breakout occurs in the market. Right now, the situation remains unchanged. It is interesting that the bias on USDCHF remains neutral, just as it was last week. The neutrality in the market has been existing since June 2018. Normally, USDCHF should go upwards as EURUSD goes south, but the former has chosen to remain neutral as the latter goes south, hence showing the bulls’ apathy. Should EURUSD skyrocket (something that will eventually happen) there would be a smooth bearish movement on USDCHF. GBPUSD Dominant bias: Bearish Cable went slight downwards from Monday to Wednesday (in conjunction with the downtrend), and then consolidated for the rest of last week (also in the context of a downtrend). The market has shed over 400 pips this month, and there seems it has much more room to go southwards. Nonetheless, the more the market goes bearish, the higher the chances of a strong bullish reversal when it does occur. USDJPY Dominant bias: Bearish In the medium-term, a bearish signal has been generated on this pair. Although the situation in the market is quite choppy, a closer look reveals that bears have upper hands right now, and thus, the market may be able to test the demand levels at 110.00, 109.50 and 109.00. But that achievement will require a very strong bearish movement in the market. Bulls are also waiting for an opportunity to effect a reversal, pronged by a favorable fundamental factor. EURJPY Dominant bias: Bearish The price moved sideways last week – in the context of a downtrend. Further bearish movement this week will result in a Bearish Confirmation Pattern in the market (which has already shown its existence). The outlook on JPY pairs is currently bearish but there is also a probability of a strong bullish breakout, which may become a threat to the existing Bearish Confirmation Pattern. Whatever the case may be, a strong movement will happen this week. GBPJPY Dominant bias: Bearish This cross has dropped over 640 pips this month. It only consolidated last week, while the outlook on the market remains bearish. GBP is very weak and JPY is fairly strong; thus the bearish journey will likely continue this week when a breakout does occur. The targets for bears are the demand zones at 140.50, 140.00 and 139.50, which may be exceeded with enough bearish pressure. This forecast is concluded with the quote below: “Profits are an obvious and natural reward for trading efforts.” – Joe Ross Source: www.tallinex.com
  11. Technical Reviews for Gold and Silver (August 2018) GOLD (XAUUSD) Dominant Bias: Bearish Gold has ended its recent short-term neutrality by dropping 5000 pips in July. In fact, the current dominant bearish bias started on April 11 (following a long period of a boring, choppy market), and price has dropped over 15,000 pips since then, resulting in a Bearish Confirmation Pattern in the market. This month, the bearish movement will continue in spite occasional rallies, which would be transitory in nature and invariably lead to further short selling. The targets for bears are the demand levels of 1200.00, 1150.00 and 1100.00. SILVER (XAGUSD) Dominant Bias: Bearish Silver is neutral in the short-term, unlike Gold. But it is bearish in the long-term. In the long-term, all previous months have been trendless expect June and July. From the high of June 17.2000, price has come downwards by 20,000 pips. Although things are currently choppy, the situation is expected to be temporary, because there is a possibility the ongoing bearish bias will continue, as price makes for the support levels at 15.2000, 15.0000 and 14.800. This will eventually result in a Bearish Confirmation Pattern in the short-term as well. Source: www.tallinex.com
  12. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (August 6 - 10, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish As the beginning of last week, the pair saw a considerable increase throughout its first and second days of trading. Price later dropped below the resistance line at 1.1600, closing below it (and that signified a drop of more than 170 pips from last week’s high). This month, the outlook on EUR pairs is bullish, which means EUR would rise against most major currencies, thereby reversing the current bearish bias on the market. However, EUR may not be able to rally versus JPY. USDCHF Dominant bias: Neutral The market has been moving sideways since June – hence the current neutral outlook. Price has been moving between the resistance level at 1.0050 and the support level at 0.9850, at least on a long-term basis. For the neutral bias to end, price would need to move out of these boundaries, and that is expected to create a directional bias. However, it may take several trading days (even a few weeks), for a strong, directional movement to occur. This is because volatility in the markets would be generally low this month, save in certain cases. GBPUSD Dominant bias: Bearish The bias on GBPUSD is bearish and it would continue to be bearish, at least for this week. Price ranged from Monday to Wednesday, and then dropped further southwards on Thursday and Friday. The drop may continue this week, as price targets the accumulation territories at 1.2950 and 1.2900 (which may even be exceeded). A considerable amount of volatility will be witnessed on GBP pairs, while volatility will be low on most other pairs. USDJPY Dominant bias: Bullish The situation on this trading instrument is tricky. It is bullish in the long-term, but neutral in the short-term. The bullish bias will soon change to a bearish bias (while the short-term neutrality will evaporate), because the outlook on JPY pairs is strong bearish for this week, and for the whole month of August. In fact, price is expected to shed a minimum of 300 pips this month, reaching the demand levels of 110.00, 100.00 and 109.00. EURJPY Dominant bias: Bearish The market initially went upwards, reaching the supply zone at 131.00. Nonetheless, further upwards movement is rejected at that supply zone as price slid downwards by roughly 240 pips, closing near the demand zone at 128.50 on Friday. Since there is Bearish Confirmation Pattern in the market, further downwards movement is anticipated this week, which would enable price to reach the demand zones at 128.50, 128.00 and 127.50. GBPJPY Dominant bias: Bearish There is a “sell” signal in the market. Price first went upwards by 150 pips last week, reaching the supply zone at 147.00. It even moved slightly above that supply zone before dropping by 240 pips; hence the “sell” signal. Given the weakness of GBP, and the bearish outlook on JPY pairs, the most probable movement this week, is downwards. The demand zones at 144.50, 144.00 and 143.50 would easily be reached. This forecast is concluded with the quote below: “Trading in itself is a thrilling activity, and many non-traders never have a chance to experience that level of excitement.” – Andy Jordan Source: www.tallinex.com
  13. YES….IT IS HOT DURING SUMMER… “The person who loses the least amount of money when things go wrong inevitably wins.” – Chris Tate Apparently, this little piece of information is a complete and utter surprise to most Australians judging by the level of commentary attached to the current hot spell sweeping the country. The point that most intrigues me is that Australians are constantly surprised by the fact that their country gets friggen hot during summer and each year they proclaim their surprise loudly and annoying. For example I live in what is referred to as one of Melbourne’s leafy green inner suburbs where the standard garden seems to be the English cottage style which about this time of the year looks as if it has been napalmed. My neighbours as well as most conservative politicians seem to believe that Australia is a small island anchored off the Cornish coast as opposed to a bloody big, parched, mostly uninhabitable island in South East Asia. Even our maps tell a false tale in that they contain images of wonderful verdant countryside that apparently stretches for hundreds of kilometres inland. This is news to anyone who spends a lot of their time in the air actually looking at the countryside. Each year we rail against the reality of our situation as if we are continually surprised each time it occurs. There is a profoundly irrational core to this belief since it reflects a simple inability to accept reality or to somehow believe that you control certain parts of your reality. There is the wonderful refrain – it should never be this hot. The problem is that it is this hot and will continue to be this hot long after we are gone. This is also a traders lament after all how often have you heard someone say that prices couldn’t possibly stay at this level – they have to recover. The natural order of things is that price can go where they want and you have no control over that. The issue here is acceptance of reality – in summer it gets hot and prices can and do go down. Acceptance of these simple facts makes life much easier. Emotional conflict arises when your belief structure is at odds with reality and dealing with this involves finding out what the problematic belief is, offering some form of counter to it and then replacing it with a more useful and realistic belief. For example believing that the price of something you have bought could never go down is an unrealistic and destructive belief as there is a vast cornucopia of evidence to the contrary. The disputation comes about simply by looking at the evidence to the contrary and the new and liberating belief is that price moves and sometimes it moves against me. The movement against you is not the issue but rather your reaction to that movement. Life as a trader becomes much easier when this sort of regime is put in place. Author: Chris Tate Article reproduced with kind permission of Tradinggame.com.au www.tallinex.com wants you to be a successful trader
  14. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (July 23 - 27, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral Price made a bullish attempt on Monday, but started coming down afterwards. The support line at 1.1600 was tested and price bounced off it, closing above another support line at 1.1700. The market is neutral, and that status will continue as long as price oscillates between the support line at 1.1550 and the resistance line at 1.1800. However, the neutrality in the market will soon end, and ensuing movement could most probably favor bulls. This means a break above the resistance line at 1.1800 is possible before the end of the week. USDCHF Dominant bias: Neutral This pair also went downwards at the beginning of last week, and then rallied around the middle of the week, only to come downward again at the end of the week. Price closed below the resistance level at 0.9950, threatening to go further downwards. The bias on the market is eventually neutral, and it would remain so until the support level at 0.9850 is breached to the downside. The most probable direction is southwards. GBPUSD Dominant bias: Bearish GBPUSD is a weak trading instrument. Since April 14, price has been going downwards. Price moved briefly below the accumulation territory at 1.3000, and then rallied by 170 pips, almost reaching the distribution territory at 1.3150. The bias remains essentially bearish (but perpetual bullish effort could threaten the bearish bias). There are additional distribution territories 1.3200, 1.3250 and 1.3300. USDJPY Dominant bias: Bullish After testing the supply level at 113.00 several times, a bearish correction was started, which made the price close below the supply level at 111.50 on July 20 (a drop of 150 pips). The bias is bullish in the long-term, but going bearish in the short-term. Things will go completely bearish when price moves further downwards by another 200 pips, reaching the demand levels at 111.00, 110.50 and 110.00, and going further downwards. EURJPY Dominant bias: Bullish The market had been going upwards since June 28 until recently. The recent bias is bullish but there is a high possibility of price going bearish. Price has made a bearish U-turn, after almost reaching the supply zone at 132.00. It is expected that price will continue to go downwards this week, thereby rendering the recent bullish bias invalid and reaching the demand zones at 130.00, 129.50 and 129.00. Those demand zones may even be exceeded before the end of July. GBPJPY Dominant bias: Bearish There is a Bearish Confirmation Pattern in the market, as a result of a drop of 300 pips last week. The drop has already generated a bearish signal in the market, brought about by the perceived weakness in GBP, and the strength in JPY. This week (even till the end of July), the outlook on JPY pairs is bearish, and that means GBPJPY also will experience further bearish movement, which would enable it to reach the demand zones at 145.50, 140.00 and 135.50. This forecast is concluded with the quote below: “A surprising insight for me in Jack Schwager’s Market Wizards was that most of the top traders he interviewed are 1-trick ponies: they do one thing — and they do it very well. Their success was built upon their ability to discover what others overlooked. I concluded that ‘doing one thing well’ would immediately simplify my trading life and could eventually evolve one thing into an important trading edge.” – VTI Source: www.tallinex.com
  15. Weekly Trading Forecasts for Major Pairs

    Weekly Trading Forecasts for Major Pairs (July 16 - 20, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish In the long-term, the pair is bearish, and last week was bearish too. Price dropped by 140 pips, moved briefly below the support line at 1.1650, and then closed above it. This week, there could be a test of the support lines at 1.1650 and 1.1600, but they may not be broken to the downside because price has a high probability of going northwards, reaching the resistance lines at 1.1700, 1.1750 and 1.1800. USDCHF Dominant bias: Bullish Last week, owing to a sudden surge of stamina in USD, the pair skyrocketed, reaching the high of 1.0066. The test of that high is significant because the last time price reached that level was May 2017. Since the high of the year (1.0066) was tested, price has shown a sharp reversal, shedding 60 pips and closing at 1.0002 on July 13. Price might attempt to go further upwards, but it would encounter stiff opposition around the high of 1.0066. Even there will be stiffer opposition above the high of the year, like the resistance levels at 1.0150, 1.0200 and 1.0250. Movement towards the south may be more visible this week. GBPUSD Dominant bias: Bearish In the long-term, Cable is bearish, and last week was bearish too. From the distribution territory at 1.3350, price dropped by 250 pips, and almost touched the accumulation territory at 1.3100, and then closed above the accumulation territory at 1.3200. This week, there could be a test of the accumulation territories at 1.3200 and 1.3150, but they may not be broken to the downside because price has a high probability of going northwards, reaching the distribution territories at 1.3250, 1.3300 and 1.3350. USDJPY Dominant bias: Bullish Last week was bullish. In fact, the market has been going upwards since March 26, and it has gained close to 800 pips. A clean bullish run has taken price towards the supply level at 112.50 and there is a lot of trading activity around that level, as bears are making attempt to effect a bearish reversal. There are demand levels at 112.00, 111.50 and 111.00. However, price could go upwards to reach the supply levels at 113.50, 114.00 and 115.00. EURJPY Dominant bias: Bullish This cross has become a bull market in the medium-term. Price gained 180 pips last week (it has gained over 650 pips since May 25), and managed to closed above the demand zone at 131.00. Short trades are not recommend in this market, owing to the Bullish Confirmation Pattern in it, and owing to the bullish outlook on EUR for this week and next. Price is thus expected to continue going upwards, reaching the supply zones at 131.50, 132.00 and 132.50. GBPJPY Dominant bias: Bullish GBPJPY is a volatile market, though with a Bullish Confirmation Pattern present in it. This month has been bullish so far (the bullish movement started late June and it has been upheld till now). Having gained 500 pips since June 28, there is still much room for bulls to shine. This week, another 200 pips can be gained amid high volatility. Nonetheless, this does not rule out possibility of bears overpowering bulls along the way. This forecast is concluded with the quote below: “You should not draw the conclusion that winning traders are reckless. They aren't. They approach trading systematically. They develop clearly defined trading plans and they trade them. They wait for market conditions that increase their odds of success. But most of all, they have a positive attitude. They know that if they do their homework and make enough trades, they will take home a profit.” – Joe Ross Source: www.tallinex.com
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