analyst75

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market consolidated last week, and made some bullish effort on Thursday and Friday (in the context of a downtrend). There is a bullish signal in the short-term, and once the resistance line at 1.1750 is breached to the upside, the bias would turn bullish. The outlook on EUR pairs is bullish for this week, and thus, other resistance lines that would be reached are located around 1.1800 and 1.1850. USDCHF Dominant bias: Bullish This pair is bullish in the long-term, but it is becoming bearish in the short-term. Basically, price moved sideways from Monday to Wednesday and then moved lower on Thursday. Further bearish movement is possible this week, and the targets are the support levels at 0.9950, 0.9900 and 0.9850. However, there would not be a very serious bearish movement this week because USD would retain some of its stamina this week. GBPUSD Dominant bias: Neutral GBPUSD is quite choppy and volatile, characterized by short-term upswings and downswings with no directional movement. This week or next, it is possible for price to either go above the distribution territory at 1.3300 (creating a strong bullish bias); or it would go below the accumulation territory at 1.3050 (creating a strong bearish bias). Strong directional movements are anticipated on other GBP pairs this week USDJPY Dominant bias: Bullish This pair is bullish in the long-term, but bearish in the short-term. As soon as price tested the supply level at 114.50, it went downwards by 100 pips (throughout last week), closing slightly below the supply level at 113.50. Should price move southwards this week, the demand levels at 113.00 and 112.50 would be reached. A northwards movement above the supply levels at 114.00, 114.50 and 115.00 would help strengthen the recent bullish bias. EURJPY Dominant bias: Neutral This is a neutral market. Price went downwards last week, testing the demand zone at 131.50, before bouncing upwards by 100 pips, to test the supply zone at 132.50. As long as price oscillates between the supply zone at 133.00 and the demand zone at 131.50, the neutrality in the market would be valid. Once the aforementioned supply zone or demand zone is breached, a directional bias would form. GBPJPY Dominant bias: Neutral This cross has been performing what can be called downswings and upswings for several weeks, with no perpetual trending movement. In October price reached a high of 151.38 and a low of 146.93. The current neutral phase in the market would not be over until the supply zone at 151.50 is breached to the upside; or until the demand zone at 146.50 is breached to the downside. Until then, strategies that take advantage of short-term swings in this market would thrive. This forecast is concluded with the quote below: “No matter where you live or what your situation is, if you are willing to put the time and effort in, just about anyone can become a successful trader.” – TradingEducators

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market went sideways from Monday to Wednesday and moved further south on Friday (in the context of a downtrend). The bearish movement would continue this week, owing to a bearish outlook on EUR pairs for the week. Thus, price would test the support lines at 1.1600 (which has been nearly tested), 1.1550 and 1.1500. The resistance lines at 1.1700 and 1.1750 ought to do a good job limiting rally effort. USDCHF Dominant bias: Bullish Although this pair did not move seriously last week, it was able to maintain its bullishness. On Friday, price closed above the psychological level at 1.0000 - ready to go higher from there. The outlook on USD pairs is bullish (most USD pairs would move slightly or significantly upwards) this week, and this is what enable the pair to go further upwards; as well as the expected weakness in EURUSD. Thus the resistance levels at 1.0050, 1.0100 and 1.0150 would be tested this week and next week. GBPUSD Dominant bias: Bearish This instrument went upward from Monday to Wednesday, gaining 160 pips and testing the distribution territory at 1.3300. Further bullish movement was rejected at that distribution territory, as price plummeted on Thursday, losing 250 pips and reaching the accumulation territory at 1.3050. The accumulation territory (though it has done a good job to prevent further fall), would give way as price aims for other accumulation territories at 1.3000 (a strong territory), 1.2950 and 1.2900. The outlook on GBP pairs is bearish for this week. USDJPY Dominant bias: Bullish On October 30, USDJPY went downwards, but it rallied on October 31 and then consolidated for the rest of the week. There are demand levels at 113.00 and 112.50, which should try to impede a bearish bias from forming. The market could go upwards this week, reaching the supply levels at 114.50 and 115.00 (and even exceeding that). As long as USD is strong, a vivid pullback may not happen on the market. EURJPY Dominant bias: Bearish In the context of a downtrend, this cross rallied 160 pips, after testing the demand zone at 131.50. The rally has turned out to be a good opportunity to sell short at slightly higher prices, for price has started coming downwards from the high of last week (133.13), closing below the supply zone at 132.50 on November 3. As long as EUR is weak, this cross would be having difficulty going upwards. In fact, price may go southwards more than 150 pips this week. GBPJPY Dominant bias: Bearish Price is bearish in the short-term, and neutral in the long-term. Just like GBPUSD, it went upwards by 270 pips from Monday to Wednesday, topped at 151.92 on Thursday, and then dropped like stone (310 pips). There is now a Bearish Confirmation Pattern in the market, and given the bearish outlook on GBP pairs, GBP/JPY is more likely to drop further than to rally significantly this week. The next targets for bears are the demand zones at 149.00, 148.50 and 148.00. This forecast is concluded with the quote below: “The elite trader develops a serious approach to the financial markets, weighing risk against potential reward at all times. They hone their craft through detailed recordkeeping, carefully chosen data sources, well-defined trading edges.” - Alan Farley

GOLD (XAUUSD) Dominant Bias: Bearish Gold is a choppy market, though movement has generally been bearish. Last month, price went upward to test the resistance level at 1305.78, before dropping thousands of pips. Any rallies that are seen on Gold would be in the context of a downtrend, and as such, would not invalidate the current bearishness in the market, unless the resistance level at 1300.00 is breached to the upside, which would require exceptionally strong buying pressure. This month, the support levels at 1260.00, 1240.00 and 1220.00 may be reached. SILVER (XAGUSD) Dominant Bias: Bearish Since Gold and Silver are usually correlated, Silver moved upwards in the first half of October, gaining 9,000 pips. The market reached the high of the month at 17.4594 (October 15), and then began to move southwards, underlining the recent bearishness in the market. This month, any rallies should be taken as opportunities to seek short trades, because the current bearishness in the market cannot be ended until price is able to go above the high of October (17.4594). In November, at least a southwards movement of 6,000 pips is expected. BITCOIN (BTCUSD) Dominant Bias: Bullish There is a very strong Bullish Confirmation Pattern on Bitcoin. In October, price reached a low of 4143.64 and a high of 6460.62. Price gained more than 210,000 pips in October, and it started November on a strong bullish note. Another 100,000 pips have been gained this week, as price topped at 7438.49 on November 2, before retracing downwards. Nevertheless a large pullback of 50,000 – 100,000 pips is anticipated this month, after which price would assume its journey to the north. The main target for the month is the distribution territory at 7500.00, although there is a high probability that the main target would be exceeded.

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market consolidated from Monday to Wednesday and then dropped sharply on Thursday and Friday. There is a Bearish Confirmation Pattern in the market, which makes further drop a possibility. Since the outlook on EUR pairs remains bearish for this week (just as it was bearish for last week), the support lines at 1.1550, 1.1500 and 1.1450 are the next targets. However, the market would start rallying sometime in November, for the outlook on EUR pairs is bullish for November (especially starting from next week). USDCHF Dominant bias: Bullish USD/CHF gained 200 pips last week, moving briefly above the strong resistance level at 1.0000, but closed below it on October 27. The parity that was briefly achieved by USD and CHF would be achieved again this week, because the outlook on the pair is bullish for this week. USD is supposed to remain fairly strong, and thus, price would reach the resistance levels at 1.0000, 1.0050 and 1.0100 this week. But the bullish domination would not hold out very long in November, because it is expected that EURUSD would rally in that month, and this would cause a selling pressure on USDCHF. GBPUSD Dominant bias: Bearish This trading instrument is slightly bearish. It has been engaged in short-term upswings and downswings for about two weeks – a condition that is expected to continue until a strong volatility arises in the market. The volatility would propel price above the distribution territory at 1.3300 or below the accumulation territory at 1.3000. In November, there would be strong movements on GBP pairs, which would be bullish in most cases. USDJPY Dominant bias: Bullish Although there was no strong northwards movement last week, this pair is bullish. Effort to stay above the supply level at 114.00 has been thwarted, but a lot of activity remains around that supply level. A closer look at the market reveals that bulls are still strongly determined to push the pair upwards, and that is what they will likely achieve this week, for the outlook on certain JPY pairs is bullish for this week. EURJPY Dominant bias: Bearish EUR pairs became mostly bearish in the last few days of last week, and EURJPY was not spared either. The market initially made some bullish effort, but further bullish movement was rejected at the supply zone of 134.50 (which was tested several times, without being breached). From that supply zone, price plummeted below the supply zone at 132.00 (about 260 pips). The demand zones at 131.50 and 131.00 could be tested before price begins to rally this week. The rally would continue until a fresh opposition is met at the supply zone of 134.50. GBPJPY Dominant bias: Bullish This cross is bearish in the short-term, and bullish in the long-term. From October 23 to 25, some bullish attempt was made, but price came down in October 26 and 27. The outlook on the market is bullish for this week and for most of the month of November. Therefore, price would eventually rally, gaining at least 400 pips in November. There are demand zones at 148.50, and 148.00, which could be tried before price rallies eventually. This forecast is concluded with the quote below: “One thing is true in trading: when things are going so well that it is hard to believe what is happening, don't change the disciplines and behavior that are working for you!” – Andy Jordan Source: http://www.tallinex.com

The question above is common whenever I come across people who used to be traders. They started trading because they thought it was easy and because they thought they’d strike it rich. Nevertheless, they discovered that trading isn’t easy and after they dashed their heads into the rock many times, they gave up. Whenever one of them comes across me, they ask: “Are you still trading?” It’s simple. If they can’t do trading successfully, they feel no one else can do it, or very few people can do it. They gave up and they expected me to give up. Surprisingly, I have not given up. In fact, I got what works for me and I like it. It’s a personal strategy: Manual + discretionary. The World Of Trading Is Full Of Hypocrisy I’m sick of those who talk about their profits alone, but who hide their losses. When NZD pairs moved maniacally on October 19, I saw how many people posted the profits they made. But none of them would ever post loses they made. Very few traders would post their losses. The world of trading is full of hypocrisy. When someone makes 300 USD or let’s say, 300 pips, they post it on forums, WhatsApps group, Facebook, etc. When the person makes a loss, they remain silent about it. That’s why some rookies would come and think trading is easy – just because everyone is talking about profits. FACT: Trading isn’t easy, though the marketer would want you to believe otherwise. Success is, nonetheless possible. Liberate Yourself With Trading Realities You will never find a perfect trading system or signals service. You can’t avoid losses. But you’ll be OK as long as your average losses are smaller than your average profits. I recently showed one of my trainees my trading results. I placed a trade, I lost it (-1%). I placed another trade, I lost it (-1%). I placed another trade and I lost it (-1%). I placed another trader and I lost it (-1%). 4 losses in a row (-4%). I placed the 5th trade and I won it (+6.9%). I let my profit run. You see, I made sure that I limited my losses and I let my profits run. I didn’t throw away my strategy because of a transient losing streak, since I know it’s a statistical edge. There are many bogus high probability strategies (manual, automated or semi-automated) that can win 99% of trades in a row. But one big loss would wipe away everything. Think about the rest. It’s up to you. I’d end this article with the quotes below. Please read what these highly experienced master traders have to say: “It is the fear which tends to be the biggest challenge….It is fear which stops us from taking a solid setup in the markets because we have been on a losing streak, only to see it work out well and the opportunity missed. It is fear which causes us to not follow the trading plan and make irrational changes because that other trade failed to work. It is fear which causes us to get out of a trade far too early with only a small profit because we are scared to hold on in case it became another loser, and it is fear which makes us search over and over again for the perfect strategy which does not exist, simply because we think there is always something out there we are missing out on or don’t know about. Fear, my friends, is the biggest hurdle any retail trader has to face and will hold you back more than anything else.” – Sam Evans (Source: Tradingacademy.com) “But you know what I learned? I learned that people don't want to change. People don't want to be told that they have to change. People resent being corrected. Do you know anyone like that? It's understandable, right? It's not easy to be corrected. Yet experience shows that life as a trader is a life of correction. So whereas you may know people that don't want to be corrected, the fact is, if you are going to trade successfully you are going to have to learn how to receive correction. It's really the hardest part, what I'm giving you right now. It's the hardest part. Everyone wants to think that they are lovable just the way they are, and maybe they are lovable just the way they are but that's not going to necessarily help the real deep things that hide in your soul that will destroy true success. We can't like ourselves too much. Do you understand what I am saying? You know what to do, now do it! That’s a correction, by the way.” - Joe Ross (Source: Tradingeducators.com) “In trading we talk about the need for a variety of emotional strengths. We talk about the need to be calm, confident, and disciplined but we very rarely talk about the need for courage and the majority of traders fail because they do not have the courage to succeed. It is often bloody hard to hang onto positions that have very large open profits. Your brain plays all sorts of tricks on you and you begin to rationalise the foolish action you are about the take. I am quite certain that Ronald Wayne who sold his original share in Apple for $800 (now worth about $75B) rationalises that decision. Rationalisation is a wonderful human skill – it insulates us from the harsh knowledge of our own failings and traders are experts both making foolish decisions and hiding from them.” – Chris Tate (Source: Tradinggame.com.au) Traders’ Mindset: http://www.advfnbooks.com/books/insights/index.html \

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral Price went down on Monday and Tuesday, went up on Wednesday and Thursday, and came down again on Friday. This kind of erratic, zigzag behavior has resulted in a neutral bias on the market. This week, a rise in momentum is expected, for price could rise above the resistance line at 1.1900; or price could fall below the support line at 1.1700. As long as price stays within the two boundaries, the outlook on the market would remain neutral. A movement to the downside is, however, more likely this week, owing to a strong bearish outlook on EUR pairs. USDCHF Dominant bias: Bullish This pair has gained roughly 110 pips this month – making further bullish effort last week. Price has tested the resistance level at 0.9850, and it would test it again, breach it to the upside and then target another resistance level at 0.9900. This expectation would be easily realized as EURUSD slides further southwards (a likelihood), and as USD gains stamina. The support level at 0.9800 could be tested briefly despite bullish effort is being made. GBPUSD Dominant bias: Bearish The Cable dropped some 190 pips last week, testing the accumulation territory at 1.3100 before the shallow rally that was seen on October 20. The rally could turn out to be an opportunity to go short at a slightly higher price, for there is a Bearish Confirmation Pattern in the market. This week, the accumulation territories at 1.3150, 1.3100 and 1.3050 could be reached (especially as long as USD has some stamina in it). USDJPY Dominant bias: Bullish Early last week, USDJPY began to make some attempt to go northward, and the attempt was successful, for its price went upwards by 170 pips last week, reaching the supply level at 113.50. Further northwards movement is possible this week (a strong US dollar versus a weak Yen), and thus, the targets for bulls are located at the supply levels of 114.00 and 114.50. A very strong northwards movement could also cause another supply level at 115.00 to be tested. EURJPY Dominant bias: Bullish. This trading instrument consolidated in the first few days of last week, and then broke out northwards. The market went upwards by close to 200 pips, closing above the demand zone at 133.50 on Friday. This week, further upward movement is more likely than a downwards correct. A downward correction would be shallow and would get challenged by the demand zone at 133.00. Apart from this this, price is expected to reach the supply zones at 134.00, 134.50 and 135.00 before the end of the week. GBPJPY Dominant bias: Bullish The biases on this volatile cross used to be neutral in the short-term and bullish in the long-term. Nonetheless, a bullish signal has been generated in the 4-hour chart, to corroborate the bullishness on higher time horizons. The outlook on the cross is bullish (as it is on certain other JPY pairs). The supply zones at 150.00, 150.50 and 151.00 could be reached this week. There are demand zones at 149.00 and 148.50: a formidable challenge to bears. This forecast is concluded with the quote below: “Following a detailed plan is important because it removes any underlying emotions from the decision-making process and thus enforces ongoing discipline in our trading activities. The less the trade becomes about us and the more it becomes about our rules and plan, the more we have steered ourselves towards achieving success in the markets on a consistent basis. The plan tells us what to do, as opposed to us looking at a chart and guessing what we should do.” – Sam Evans

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair went upwards last week, creating a short-term bullish signal, before price got corrected lower on Friday. This week, a movement above the resistance line at 1.1900 would reinforce the bullish bias (an unlikely event). On the other hand, a movement below the support lines at 1.1750 and 1.1700 would result in a bearish bias. The downwards movement is more likely because the outlook on EUR is bearish for this week. USDCHF Dominant bias: Bullish USDCHF is precariously bullish. Price did not do much last week, save movement of about 50 pips to the downside. The situation of the market is currently dicey, but price movement would be largely determined by whatever happens to EURUSD. A weak EURUSD may cause the current bullish outlook on USDCHF to be sustained; otherwise a smooth southward journey would be witnessed this week. GBPUSD Dominant bias: Bullish There is a “buy” signal on the Cable – with a Bullish Confirmation Pattern in the market. Price gained over 210 pips last week, and there is much room for price to go upwards this week, reaching the distribution territories 1.3300, 1.3350 and 1.3400. The “buy” signal would not become invalid unless the accumulation territories at 1.3150 and 1.3100 are breached to the downside. USDJPY Dominant bias: Bullish This instrument is bullish in the long-term, and bearish in the short-term. Price went downwards last week but not much (closing below the supply level at 112.00 on Friday). There would be a bearish signal when price goes downwards by 200 pips – and that may also bring about a bearish bias in the long-term as well. Should price go upwards from here, the extant bullish bias would be sustained. EURJPY Dominant bias: Bullish. The market went upwards in the last few days, testing the supply zone at 133.50. Then the market began to go downwards on Thursday, losing about 120 pips. The bias is bullish in the long-term, and would get strengthen as price goes northwards. There are demand zones at 132.00, 131.50 and 131.00 which would try to impede further bearish movement (for the bias would turn bearish when price goes below the demand zone at 131.00). GBPJPY Dominant bias: Bearish GBPJPY consolidated throughout last week, and the consolidation could go on this week until there is a rise in momentum. Price would either go above the supply zone at 150.00 (resulting in a bullish outlook); or price could go below the demand zone at 147.00, staying below it (which would put more emphasis on the bearishness of the market). As long as price stays below the aforementioned supply zone or above the demand zone, it would be deemed that the consolidation is ongoing, albeit in the context of an uptrend. This forecast is concluded with the quote below: “And if your trading and investing goals aren’t written down (and reviewed regularly), then you have a much lower probability of achieving them.” – D. R. Barton, Jr.

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The pair has been going southward since September 25, having lost about 200 pips. Price moved briefly below the support line at 1.1700, but closed above it on Friday. However, rallies in this kind of market situation often bring good opportunities to sell short at slightly higher prices, and that is exactly what is expected. Another opportunity to go short would emerge this week, as price turns southwards again. USDCHF Dominant bias: Bullish USDCHF has managed to stay bullish for the past few weeks – although price has not gone upwards significantly either. The market was trudging upwards, sauntered above the resistance level at 0.9800, but eventually closed below it on October 6. This week, USDCHF would maintain its bullishness, but it would not be able to move northward significantly until CHF is weakened. The bullishness would also be sustained as long as EURUSD remains bearish. GBPUSD Dominant bias: Bearish This market has been going downwards in the past two weeks, and price has come down by 470 pips since then (having come down by 320 pips last week). There is a huge Bearish Confirmation Pattern in the market, and the accumulation territory at 1.3050 has already been tested. The bearish movement can continue this week as other accumulation territories at 1.3000 (a strong accumulation area), 1.2950, and 1.2900 are tested. However, there could be some meaningful rally before the end of the week. USDJPY Dominant bias: Bullish Albeit it consolidated throughout last week; the outlook on this market remains bullish. There could soon be an end to the short-term consolidation, as price goes above the supply level at 114.00, or below the demand level at 111.00. A movement above the supply level at 114.00 would help strengthen the existing bullish bias; while a movement below the demand level at 111.00 would threaten it. EURJPY Dominant bias: Bullish This cross is basically bullish in the long-term, but neutral in the short-term. Price did practically nothing last week, save moving sideways in the context of an uptrend. Nonetheless, a closer look at the market reveals that bears are about to gain upper hands, and thus, price could go towards the demand zones at 131.50 and 131.00 this week. The bias would not turn bearish until another demand zone at 130.00 is breached to the downside. GBPJPY Dominant bias: Bearish GBPJPY moved south by about 360 pips last week, resulting in a Bearish Confirmation Pattern in the market. The outlook on the market remains bearish for this week, as price goes towards other demand zones at 147.00, 146.50 and 146.00 (and possibly exceeding them). However, there could be a serious rally before the end of the week, which cannot render the current bearish bias invalid unless the market rallies by a minimum of 400 pips. This forecast is concluded with the quote below: “As traders, we are the ultimate rain makers. We are the producers. We are the profit seekers. We live by our wits, making decisions that others fear. We claim our freedom and provide an unparalleled lifestyle for those we love.” – Louise Bedford

GOLD (XAUUSD) Dominant Bias: Bearish Early in September, Gold went upwards to reach a high of 1357.14 on September 8. Since then, Gold has lost at least, 8,200 pips, creating a huge Bearish Confirmation Pattern in the market. Rallies in recent times have been transitory, offering interesting opportunities to sell short at slightly higher prices. This month, price has resumed its bearish movement, making shallow rally attempts; but only to go further southwards. This kind of price action is expected to continue for most part of October, as price targets the support levels at 1270.00, 1260.00 and 1250.00. SILVER (XAGUSD) Dominant Bias: Bearish The movement on Silver is quite similar to the movement on Gold (for they are positively correlated). In September, price initially went northwards, reaching a high of 18.2034. Since then, price has lost more than 15,400 pips, and that is just the beginning, for the market has been bearish so far in the month of October. Like Gold, rally attempts have been faint and they have only led to more bearish movements. The bearish bias on the market remains valid and the current price behavior will most likely continue. The next targets for bears are the demand levels at 16.5000, 16.3000 and 16.1000. BITCOIN (BTCUSD) Dominant Bias: Bullish Bitcoin has been quite choppy and volatile. Price lost close to 190,000 pips, reaching a low of 2971.05. Since then, a bullish movement has begun, and price has gained more than 145,000 pips, thus restoring the recent bullish outlook on the market. This month has opened on a bullish note and further northward movement is anticipated. Thus the next targets are the distribution territories at 4500.00, 4700.00 and 4900.00, which would be reached within the next several weeks. There would be occasional dips along the way, and would only pave way for further upwards movements.

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market lost about 200 pips last week, went briefly below the support line at 1.1750 and then went above it, to close above the support line at 1.1800. There is already a Bearish Confirmation Pattern in the market, and further downwards movement is possible as price targets the support lines at 1.1800, 1.1750 and 1.1700 this week. This means that the shallow rally that was seen on Thursday and Friday may turn out to be opportunities to go short at slightly higher prices. The outlook on EUR pairs is strongly bearish for October; so EUR would be seen falling against other major currencies. USDCHF Dominant bias: Bullish The bias on USDCHF is bullish in the short-term; and the bullishness is even precarious. This week, it may be possible for this pair to retain its bullishness as EURUSD slides southwards. However, the bullishness of the market would face a challenge from another quarter, which is the expected rally in CHF. CHF may begin to gain strength versus other currencies within the next two weeks, and that may make it difficult for USDCHF to experience a smooth bullish run. However, USD would also gain serious stamina around the end of October – a factor that may help USDCHF to become a clear winner at the end of the month. GBPUSD Dominant bias: Bearish GBPUSD was bullish in September, but the bearish correction that was witnessed throughout last week (at least a movement of 150 pips to the south) has resulted in a “sell” signal in the market. The outlook on GBP pairs is bearish for this week, and thus, long trades are not recommended for now. GBPUSD could reach the accumulation territories at 1.3350, 1.3300 and 1.3250 within the next several trading days. USDJPY Dominant bias: Bullish This trading instrument has gained at least 450 pips since September 11. The movement of the market would largely be determined by whatever happens to USD this month. A strong USD means price would continue going upwards, whether gradually or swiftly. On the other hand, a weak USD may cause a serious reversal on USDJPY as price goes downwards by at least 200 pips within the next few weeks. EURJPY Dominant bias: Bullish This cross dropped southwards on Monday and Tuesday and then consolidated throughout the rest of the week. However, a closer look at the market reveals that bulls have subtly moved price in their favor, leading to an invalidation of recent bearish efforts. A movement above the supply zone at 134.00 would result in corroboration of the recent bullish bias; while a movement below the demand zone at 131.50 would result in a bearish bias. GBPJPY Dominant bias: Bullish GBPJPY rose by 1,100 pips in September and got corrected on September 29, following the consolidation that took place in most part of last week. The correction was almost nothing when compared to the general bullish movement in that month. Price could continue to go upwards – but only in a limited way – owing to the expected weakness in GBP in October. This means that the market would go down by at least, 400 pips in October, thereby invalidating the current bullish bias. This forecast is concluded with the quote below: “Successful trading careers start with plans that specify objectives, which in turn lead to success. There are psychological benefits to establishing objectives and developing plans to reach them.” – Joe Ross

“If there were a cornerstone to trading it would be the ability not only to be resilient when in drawdown but also to accept that we get things wrong. Sometimes there is a flaw in our methodology that we have not seen and that we simply have been lucky up until this point. This does raise the question of when do you know you have entered this spiral of self destruction and to my way of thinking the answer is not that hard. If you have been losing money for the better part of a decade then it is fairly obvious that there is something seriously wrong in your methodology.” – Chris Tate Can you make 1,000% returns per year from trading? I DON’T THINK SO. Every so I often I am party to an email from someone who should know better. This particular email was around the topic of returns that could be expected from a novice trader. This email asserted that they were looking at the order of 1,000% pa, which in anyone’s language is a tall order. I can understand how people get these figures in their heads, the internet is awash with people claiming that you can give up your day job and intraday trade FX with $5,000 and live like royalty with no risk. Intriguingly I have once again started receiving spam emails from people claiming that options writing is a no risk cash flow generating strategy. As such it is easy to see how peoples psyche becomes infected with this sort of nonsense and how with little real world experience they are sucked in. However I was curious as to what the numbers would look like if you were making 1000% pa so I fired up Excel and let it rip with a starting balance of 1,000. Please check here to see the figure: http://tradinggame.com.au/i-dont-think-so/?utm_source=Blog+Subscribers&utm_campaign=782ff57c63-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_eb90516269-782ff57c63-43344013 I don’t even know how to say that last number. Suffice to say that somewhere around the first months of year 7 you are the richest person in the world and by the end of year 10 I think you have all the money. Author: Chris Tate Article reproduced with kind permission of: Tradinggame.com.au Another great quote ends this article: “You should spend a great deal of time and thought on your exit strategies, for one very good reason: you don't make money when you enter the market, you make money when you exit the market. Far too many people focus only on market entry, or what to buy, rather than on when to sell. If you approach trading with an exit strategy, it will benefit you right away. Your system should reflect your beliefs (i.e., who you are as a trader and as a person). Many people are just looking for “any system that works,” but if your trading system doesn’t match your beliefs about the markets, you will eventually find a way to sabotage your trading.” – Van Tharp Institute

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral On September 18 and 19, this pair made a faint bullish attempt, only to come down on September 20 (and then went upwards on September 21 and 22). Since there is no conspicuous victory between bull and bear, the market remains in a neutral region. There is a need for price to go above the resistance line at 1.2050 (staying above it); or go below the support line at 1.1850 (staying below it). That is when there would be a directional bias. USDCHF Dominant bias: Bullish This pair has generated a bullish signal, owing to a visible bullish effort that was made last week. Price first consolidated in the first few days of the week, and then rose upwards. Further rise is possible this week, as the resistance levels at 0.9700, 0.9750 and 0.9800 are targeted. A drop below the support level at 0.9650 would force the market back into a neutral territory, while a drop below the support level at 0.9500 would end in a strong bearish bias. GBPUSD Dominant bias: Bullish GBPUSD consolidated throughout last week – albeit in the context of an uptrend. Price has gained roughly 700 pips this month, and there are chances to gain more. The distribution territory at 1.3650 (which was tested last week) would be breached to the upside, as price goes for other distribution territories for the rest of September. The outlook on GBP pairs remain bullish for this week. USDJPY Dominant bias: Bullish This trading instrument went upwards by 150 pips last week, testing the supply level at 112.50 and then getting corrected a bit lower. There is a clean Bullish Confirmation Pattern in the market, which signals further bullish movement this week. The supply levels at 112.50, 113.00 and 113.50 might be reached before the end of the month. The demand levels at 111.50 and 111.00 would impede bearish attacks along the way. EURJPY Dominant bias: Bullish This cross has become bullish in the long-term and in the short-term. Last week price went upwards by 190 pips, and then followed a shallow correction on Friday. Following the shallow correction would be a rise towards the north, as price slashes the supply zones at 134.00, 134.50 and 135.00 to the upside (possibly exceeding them). The outlook on JPY pairs is strongly bullish for this week. GBPJPY Dominant bias: Bullish The market gained about 1,100 pips this month, before the bearish correction that was witnessed on Friday. Further bearish correction could take place, but it should not be significant enough to result in a bearish bias (JPY pairs are mostly expected to go upwards this week). The bearish correction would end up giving opportunities to join the existing bullish trend, at better prices. A gain of 200 – 300 pips is anticipated before the end of September. This forecast is concluded with the quote below: “Trading goes best when it is yoked to rewards… that are independent of the most recent trading results.” - Brett Steenbarger, Ph.D.

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral The market is bullish in the long-term and neutral in the short-term. There was a slight bearish movement last week, but that was not significant. This week, price would either go above the resistance line at 1.2050, to strengthen the long-term bullish outlook; or price go below the support line at 1.1850 (which was tested last week), staying below it, to bring about a short-term bearish bias. USDCHF Dominant bias: Neutral USDCHF is bearish in the long-term, but neutral in the short-term. From Monday to Wednesday, price went upwards by more than 200 pips, to test the resistance level at 0.9700. However, price began to come downwards on Thursday and Friday, thus rendering the short-term bullishness of the market vulnerable. To bring about a clean bullish bias, there is a need for the market to go upwards this week, staying above the resistance level at 0.9700; otherwise a strong bearish movement would result in a bearish bias. Movements between the resistance levels at 0.9700 and the support level at 0.9500 would enable the neutrality of the market to continue. GBPUSD Dominant bias: Bullish This trading instrument has become seriously bullish. Price has gone upwards by 680 pips this month, and there is much room for it to go upwards this week. The instrument has closed just below the distribution territory at 1.3600 on Friday. The distribution territories at 1.3600, 1.3650 and 1.3700 would be reached this week (even if there would be any reversals later). USDJPY Dominant bias: Bullish USDJPY is bullish in the short-term, but bearish in the long-term. The market went bearish in the first week of this month and went bullish last week, generating a bullish signal. There is a possibility that the supply levels at 111.00 (which was tested last week), and 111.50 would be reached. On the other hand, there is a stronger possibility that price would go bearish this week, so the demand levels at 110.00, 109.50 and 109.00 could be reached this week. EURJPY Dominant bias: Bullish The market rose from the demand zone at 130.00, and went upwards to test the supply zone at 133.00. This has resulted in a bullish bias, and further bullish movement could be seen as price makes more attempt to continue going northwards. However, the outlook on JPY pairs is bearish for this week, and EURJPY may also experience a vivid pullback before the end of the week, and that is something that could bring about a bearish bias on the market. GBPJPY Dominant bias: Bullish Last week, GBPJPY proved to be the strongest moving pair among JPY pairs. Price gained more than 820 pips, causing a huge Bullish Confirmation Pattern in the market. Further bullish movement could be seen this week, taking price towards another supply zones at 151.00 and 151.50. Then, there is a high probability of a large pullback before the end of this week, owing to a bearish expectation on JPY pairs. This forecast is concluded with the quote below: “Over the years, I've had the most profitable results by always making an attempt to receive pay for the risk I am taking. I want to be paid to trade.” – Joe Ross

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish The pair went upwards last week, gaining about 200 pips. Price moved briefly above the resistance line at 1.2050, and then closed below it on Friday. There is a strong bullish outlook on EUR pairs this week, and therefore, the pair is supposed to continue to go upwards, gaining at least, another 200 pips. There would be pauses and occasional corrections along the way, but the movement this week would generally be bullish. USDCHF Dominant bias: Bearish USDCHF is bearish, both in the long-term and the short-term. Price went downwards by 150 pips, tested and breached the resistance level at 0.9450. The pair is now under the resistance level at 0.9450, targeting the support levels at 0.9400, 0.9350 and 0.9300. USDCHF cannot be expected to rally meaningfully as long as EURUSD is strong. Therefore, the bias is bearish for this week, and long trades are not currently rational. GBPUSD Dominant bias: Bullish GBPUSD has become bullish after rallying by more than 280 pips last week, testing the distribution territory at 1.3200, and closing slightly below it. There is a Bullish Confirmation Pattern in the market and price is thus expected to continue going upwards this week, reaching the distribution territories 1.3250, 1.3300 and 1.3350. These distribution territories may even be exceeded as price moves further upwards. USDJPY Dominant bias: Bearish This currency trading instrument dropped about 210 pips last week, testing the demand level at 107.50 and closing above it. Since the high of July 11, price has dropped 660 pips and there is much room to drop more. Nonetheless, the outlook on JPY pairs is bullish for this week, and while the demand levels at 107.00, 106.50 and 106.00 could be reached, there is also a high possibility of a strong rally before the end of the week. EURJPY Dominant bias: Neutral Unlike USDJPY, this cross rather consolidated last week, refusing to assume a bearish movement. One reason behind this is the fact that EUR is strong in its own right and its strength versus strength of JPY are almost equal (hence the short-term equilibrium phase in the market). Price is going to move out of balance this week, as JPY becomes weaker eventually, allowing this cross to rally massive before the end of the week. GBPJPY Dominant bias: Bearish This trading instrument is bearish in the long-term, but neutral in the short-term. Price has done nothing except to zigzag upwards and downward. The market environment is quite choppy and it would be better to wait until it either goes above the supply zone at 142.60 (staying above it); or it goes the demand zone at 141.10 (staying below it). Until one of these two conditions are met, price would remain directionless in the short-term. The most probable direction this week is towards the north. This forecast is concluded with the quote below: “How often you win isn’t important. How much you win is.” – Rayner Teo

AUS200 Dominant bias: Neutral In the last few months, AUS200 has been in a neutral phase. The market is quite choppy, rough and unattractive, oscillating upwards and downwards with no directional movement. The choppiness and neutrality of the market is expected to continue for most part of September, as price fails to reach a serious imbalance. Last month, price reached a high of 5812.80 and a low of 5624.20. Therefore, there is a need for price to stay below the low of August or above its high, before there can be a directional bias (which would most probably happen before the end of September or in October). SPX500 Dominant bias: Bullish SPX500 generally went bearish in August, losing roughly 500 pips, and reaching a low of 2418.6. From that low, price gained 500 points, to close the month of August on a bullish note (and that rally in the last few days of the month has already helped remove the threat against the recent bearish bias). The bullish movement is supposed to continue this month, and price could test the resistance levels at 2480.0, 2490.0, and ultimately, 2500.0. It is unlikely that price would be able to breach the resistance level at 2500.0 to the upside, because further bullish movement would be rejected at that point. US30 Dominant bias: Bullish US30 is currently bullish, but just like SPX500, it underwent some selling pressure in August. Price topped at 22189, and then went southwards by over 500 points, reaching a low of 21614. Further southwards movement was rejected at that low, and price began to make gradual recovering (owing to visible bullish efforts in the markets); thus saving the ongoing bullish outlook on the market, which has been in place since last year. Price is expected to continue edging upwards slowly and steadily, reaching the distribution territories at 22000, 22100 and 22200. These are the initial targets for the month. GER30 Dominant bias: Bearish This unique market has become bearish since July 2017 (12679.0), and from the high of that month, price has lost more than 6000 pips. There is a Bearish Confirmation Pattern, both in the daily chart and the 4-hour chart, signaling further bearish movement in September. The bearish bias on the market cannot be rendered completely invalid until price goes above the high of July (12679.0). The first target for this month is the demand level at 11865.5 (the low of August), after which price would go towards other demand level at 11800.0. FRA40 Dominant bias: Bearish FRA40 is a bear market – although volatile and choppy. Price has lost over 4,000 pips so far, after reaching the high of May 2017 (5487.7). Given the recent price action, rallies proffer great short-selling opportunities in the market, forming a series of lower highs and lower lows. Since the low of last month (4990.7), price has bounced upwards by 1,400 point, but it got corrected a bit at the end of the month, starting this month on a slight bearish note. Owing to the current Bearish Confirmation Pattern in the market, it is anticipated that, at least, another 1000 points would be lost in September.

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish EURUSD is bullish in the long-term and bearish in the short-term. Price went upwards on Monday and Tuesday, testing the resistance line at 1.2050. After that, a serious bearish correction took place as price went down by roughly 200 pips after the aforementioned resistance line was touched. This week, any rallies would meet a strong opposition at that resistance line of 1.2050. On the other hand, price may also target the support lines at 1.1850 and 1.1800. USDCHF Dominant bias: Neutral This pair has been consolidating for 5 week – hence the current neutral bias on the market. Price has oscillated between the support level at 0.9450 and the resistance level at 0.9650. For the current neutral bias to end, there is a need for price to either cross the resistance level at 0.9750 to the upside or move below the support level 0.9450, staying below it. Either of this is expected to happen this week, for there would be a rise in momentum. GBPUSD Dominant bias: Bearish GBPUSD is bearish in the long-term, though it consolidated throughout last week. There is an expectation of some bearish movement this week, which may make price test the accumulation territories at 1.2900, 1.2850 and 1.2800. However, given the current price action, some bullish effort may enable price to go upwards by around 100 – 150 pips, but the upwards movement would be limited. USDJPY Dominant bias: Bearish USDJPY us generally bearish, but the recent bullish effort has resulted in a threat to the bearish trend. Last week, price tested the demand level at 108.50 and then bounced upwards, reaching the supply level at 110.50. On Friday, the market closed above the demand level at 110.00, and this has become a threat to the bearish outlook on the market. A movement above the supply level at 111.00 would result in a bullish bias; while a movement below the demand level at 109.00 would lay more emphasis in the overall bearish outlook. EURJPY Dominant bias: Bullish This cross pair went upwards last week to test the supply zone at 131.50. After that, price got corrected lower, closing below the supply zone at 131.00. However, there is still a Bullish Confirmation Pattern in the market, which cannot be rendered invalid unless price drops by 200 pips from its current location. The movement of the market for this week would largely be determined by whatever happens to Yen. GBPJPY Dominant bias: Bearish Over the long-term, GBPJPY is bearish, but a bullish signal has been generated in the 4-hour chart. The bullish signal was brought about by the fact that price gained about 230 pips last week, leading to a bullish outlook of this week. Further weakness in Yen may enable the supply zones at 143.50, 144.00 and 144.50, to be tested this week. Nonetheless, any display of stamina by Yen would impede the expected bullish movement. This forecast is concluded with the quote below: “…The real Holy Grail in trading is proper risk management. All of the successful traders I know follow a few specific, even conservative, risk management rules.” – Rick Wright Source: http://www.tallinex.com

GOLD (XAUUSD) Dominant Bias: Bullish Gold trended smoothly upwards last month, reaching a low of 1251.28 and a high of 1325.75. On September 1, price made some bullish attempt, closing at 1324.89. The outlook on Gold is bullish for this month, owing to the Bullish Confirmation Pattern that is present in the market. Price is expected to gain at least 5,000 pips in September, as price journeys further northwards. There would be some corrections along the way, which would often be transitory. SILVER (XAGUSD) Dominant Bias: Bullish Silver went bearish in the first few days of August, reaching the demand level at 16.1000. From that demand level, price went upwards, consolidating briefly and going further upwards. The outlook on Silver is bullish for this September, which has already started on a bullish note. This month, price could reach the supply levels at 18.0000, 18.5000 and ultimately, 19.0000. Normally, there would be some pauses and minor temporary corrections along the way. BITCOIN (BTCUSD) Dominant Bias: Bullish Bitcoin gained over 200,000 pips in August, plus it moved further upwards on September 1, ending the day on a strong bullish note. The market tops at 4971.50 and then pulls back seriously (a minimum of 37,000 pips correction). The correction could continue for a few more trading days, but eventually price would rise again, regaining recent losses as it goes upwards, reaching the distribution territories at 4700.00, 4800.00 and 4900.00 (which were previously, and temporarily exceeded last week). Once the distribution territory at 4900.00 has been overcome again, price would then target other distribution territories at 5000.00, 5100.00 and 5200.00 in September. In spite of this expectation, there would be about two or three instances of strong pullbacks in September, which should not hold out long; for the overall movement would be bullish.

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is neutral in the short-term, but bullish in the long-term. Price moved sideways from Monday to Thursday, and then broke upwards on Friday. Price gained roughly 150 pips that day, closing above the support line at 1.1900. The bullish movement could take price towards the resistance lines at 1.1950 and 1.2000. The resistance line at 1.2000 would try to impede any bullish movement beyond it, for the outlook on EURUSD is bearish for this week (following some visible bullish effort). USDCHF Dominant bias: Neutral USDCHF is bearish in the long-term, and neutral in the near-term. The market consolidated mostly last week, save for the bearish breakout that was witnessed on August 25. Since the movement of this pair is dictated by whatever happens to EURUSD, it is expected that further downwards movement would be witnessed as long as EURUSD goes upwards. This can enable price to go below the support lines at 0.9550 and 0.9500, thus ending the ongoing near-term neutrality. A sharp drop in EURUSD price would bring about a meaningful rally on USDCHF. GBPUSD Dominant bias: Bearish Since the beginning of this month, GBPUSD has lost about 450 pips, going southwards. There is a Bearish Confirmation Pattern in the market, which could not be threaten by the rally that took place at the end of last week. In fact, the rally would act as a good opportunity to sell short at slightly higher prices, for the outlook on GBPUSD is bearish for this week. In September, GBP pairs would be mostly bearish (though some rallies would be witnessed in certain cases). USDJPY Dominant bias: Bearish This trading instrument was caught in an equilibrium phase last week – though the major outlook on the market is bearish. The weakness in USD has prevented a meaningful rally in the market, and bullish effort would continually be thwarted as price goes further downwards. Further bearish movement is anticipated this week, for the demand levels at 109.00, 108.50 and 108.00 would be aimed. Rallies should either be ignored or approached with caution. EURJPY Dominant bias: Bullish Both in the short-term and the long-term, this cross is bullish. Some conspicuous rally attempt was started at the beginning of last week, and that culminated in a strong rally that was seen on Friday, as price closed at 130.45. A “buy” signal has already been generated, and that may enable price to go upwards by another 200 pips this week. However, the outlook on JPY pairs is bearish for this week and for September, and thus, whatever goes up on EURJPY cross will eventually come down. GBPJPY Dominant bias: Bearish GBPJPY was quite choppy in July. Nonetheless a smooth bearish movement began in August, and price has been going steadily southwards since the beginning of the month, losing 700 pips. On Thursday and Friday, some bullish correction was seen, but that has paled into insignificance when compared to the overall bearish bias on the market. This week, price is supposed to continue its bearish movement. The demand zones at 140.50, 140.00 and 139.50 would be reached. They may even be exceeded. This forecast is concluded with the quote below: “Trading is a collaborative endeavour between you and the market. The market offers up opportunities on a regular never ending cycle and you decide what you will do with these opportunities. There is no enemy in this transaction; it is a symbiotic relationship and a failure to accept this is at the root of many of the problems that traders have.” – Chris Tate

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is bullish in the long-term, but neutral in the short-term (for price has been going sideways for about two weeks). Price has been moving to and fro, within the resistance line at 1.1850 and the support line at 1.1650. As long as price moves to and fro within the resistance and support lines, the short-term neutrality would hold out. A movement above the resistance line of 1.1850 would make the long-term bullish bias more conspicuous, while a movement below the support line of 1.1650 would result in a bearish outlook. A movement below the aforementioned support line is more likely, owing to the expected weakness in EUR this week. USDCHF Dominant bias: Neutral USDCHF has become a neutral market, as it has not assumed a protracted directional movement since early August. For a directional movement to start, there is a need for price to go above the resistance level at 0.9750 (thus creating a Bullish Confirmation Pattern), or the price would go below the support level at 0.9600 (thus creating a Bearish Confirmation Pattern). A movement to the upside is more likely this week, owing to an expectation of weakness in CHF and strength in USD. GBPUSD Dominant bias: Bearish This market went downwards last week, testing the accumulation territory at 1.2850 several times, but not able to breach it to the downside. The outlook on GBP pairs is bearish for this week, and for this, the bearish journey on GBPUSD would continue as the accumulation territory at 1.2850 is breached to the downside. The next targets would be accumulation territories at 1.2800, 1.2750 and 1.2700. USDJPY Dominant bias: Bearish From August 14 to 16, there were bullish attempts in this market, as price went upwards by 160 pips, almost reaching the supply level at 111.00. From the high of last week (110.93) price went down by 220 pips, moving briefly below the demand level at 109.00 and then closing above it on Friday. The bearish journey may continue this week, and therefore, the demand level at 109.00, 108.50 and 108.00 could be the next targets. EURJPY Dominant bias: Bearish What happened on EURJPY last week was nearly similar to what happened on USDJPY. In the first few days of last week, price rallied in the context of a downtrend, testing the supply zone at 130.00 and then dropping smoothly by 200 pips, to test the demand zone at 128.00. Price has closed above the demand level at 128.00, but it is likely that it would test it again – probably breaching it to the downside - as it ontinues to go southwards this week. This forecast is concluded with the quote below: “20+ years ago I knew I wanted to live life on my terms, I just didn’t know how to create the income that would allow that. That desire drove my focus on trading and still does today.” – Sam Seiden,

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is bullish, though it only consolidated last week, moving between the support line at 1.1700 and the resistance line at 1.1850. A movement above the aforementioned resistance line would put more emphasis on the bullish bias, while a movement below the support line could result in a threat to the bullish bias. On the other hand, further consolidation for the next several trading days would bring out a neutral bias on the market. No matter what happens this week, EUR would be seen going upwards versus certain currencies like AUD and NZD. USDCHF Dominant bias: Bearish This is essentially a bear market, although there was a bearish effort between July 25 and August 8, it was not enough to override the overall bearish bias. After testing the resistance line at 0.9750, further bullish effort was rejected as price came down by 250 pips, closing below the resistance line at 0.9650 on Friday. This week, the market would endeavor to target the support levels at 0.9550 and 0.9500 (even possibly exceeding it). GBPUSD Dominant bias: Bearish In the context of a downtrend, GBPUSD moved sideways last week. Price oscillated between the distribution territory at 1.3050 and the accumulation territory at 1.2950. A movement below the accumulation territory at 1.2950 would put more emphasis on the bearish mode of the market, while a movement above the distribution territories at 1.3050, 1.3100 and 1.3150 would result in a new bullish signal. This week, GBP also would be seen moving upwards versus certain currencies like AUD and NZD. USDJPY Dominant bias: Bearish From the August high of 114.47, this trading instrument has dropped by 550 pips, testing the demand level at 109.00, and closing above the demand level on Friday. There is a strong Bearish Confirmation Pattern in the market, and thus, it is logical to conclude that price would continue going downwards this week, aiming at the demand levels of 109.00, 108.50 and 108.00. There could be transitory upward bounces along the way. EURJPY Dominant bias: Bearish The long-expected bearishness on EURJPY is here. Last week, price dropped 250 pips, ending the recent neutrality on the market (which was in place for roughly three weeks), and bringing about a bearish bias. On Friday, price bounced upwards, closing slightly above the demand zone at 129.00; thus creating a wonderful opportunity to sell short at a better price, while the outlook on the market remains bearish. This week, price is expected to go lower, reaching the demand zones at 128.50, 128.00 and 127.50 This forecast is concluded with the quote below: “All good traders are also good record keepers. If they win a trade, they want to know exactly why and how… Traders who win consistently treat trading as a business.” - Matt Blackman

AUS200 Dominant bias: Neutral In the last two months, this market has not moved in a directional mode. It has been moving only in a zigzag manner since then, in a quite choppy environment. This has led to the current neutrality on the market – which is supposed to continue in the next few weeks. The market is currently not attractive, and thus, no position is recommended until there is a directional movement, which would either push price above the resistance line at 5840.00, or below the support line at 5630.00. As long as price stays between the aforementioned resistance and support lines, the neutral bias on the market would be in place. SPX500 Dominant bias: Bullish SPX500 is bullish in the long-term and neutral in the short-term. While the overall bias remains bullish, price has consolidated in the last two weeks, though bull is still intent on pushing price further northwards. A movement above the resistance level at 2485.0 would result in more emphasis on the bullish bias; while a movement below the support level at 2400.0 would result in a threat to the bullish bias (but that would require a very serious and protracted selling pressure). Before a directional movement occurs, the current short-term consolidation would continue for several trading days. US30 Dominant bias: Bullish US30 is bullish, both in the long-term and the short-term. The bullishness in the market is strong – as emphasized by the Bullish Confirmation Pattern in it. Price was bullish both in June and July (gaining more than 500 points in July). August also started on a bullish note, and price has gone upwards so far, gaining additional 130 points along the way. This month, US30 is expected to continue its slow and steady journey to the north, raking in at least, another 200 points. There could be occasional pauses or shallow pullbacks along the way, but the market movement would generally be bullish. GER30 Dominant bias: Bearish This interesting market, fluctuated wildly in June, and became bearish in July. The wild fluctuation is still in place – only that it is happening in a context of a bearish bias. In July, price reached a high of 12679.0 and a low of 12081.9. Any bullish attempts in this market may be seen as opportunities to sell short at better prices. This August, price would first exceed the low of July (12081.9), and then go towards the demand level at 12000.0 which is the ultimate target for the month. However, that does not rule out the possibility that the ultimate target might be breached to the downside, especially in the face strong bearish pressures. FRA40 Dominant bias: Bearish FRA40 became bearish in June, after reaching the high of 5487.7 in May. That high has thus remained the highest price of FRA40 this year, and it could eventually be the high of the year. From the May high, till now, price has moved southward by 3,700 points, doing so in a slow and steady way in July. There is a Bearish Confirmation Pattern in the market, which means that the upwards bounce that has been witnessed in this month is not something to be taken seriously, for price would go further downwards, targeting the demand zones at 5079.0, which could even be breached to the downside. There is a strong demand zone at 5000.0.

“One of the things that amazes me most about trading is that the longer I do it the more I admit that I don’t know. For a very long time I have been convinced that I have no idea where the price of instrument is going. I certainly know a lot about market dynamics, the history of markets (which is something everyone should study) and about my own reactions to events. But I have sold all idea about where the market is going. Granted I can create a narrative in my own head to justify my own positions but at the end of the day I simply make a bet on the direction of an instrument and I am consciously aware of my own behavioural short comings.” – Chris Tate (an expert veteran of the markets, more than 30 years of experience) Anyone can learn to be a trader – but making a success of it involves more than just pushing Bid and Ask buttons. You need good strategies that will allow you to deal with the vagaries of the market. It’s no secret that the majority of traders lose. But some succeed and become rich, even super-rich. These are the super traders. Insights into the Mindset of Super Traders reveals the life stories of 20 selected master traders: how they think, how they view the markets, and how they make their fortunes. The book gives an overview of their careers and explains what lessons can be drawn from their success. “THREE QUESTIONS TRADERS WOULD LIKE TO ASK RIGHT NOW.” Why is trading so difficult? Answer: What makes trading appear very difficult is the fact that the market can never be predicted. When we predict, we’re sometimes wrong or right. However, having an impression that the market can be predicted is the single most important reason why most traders end getting frustrated. No matter the analytical method you use (Monte Carlo, Neural Networks, Horology, robots, Gann, news, Ichimoku, etc), you can’t predict the future. Your frustration will continue as long as you think you can predict the market. Once you admit you can’t do this, your frustration ends, because you’ve aligned yourself with the reality in the market. What benefit can I get from trading? Answer: Freedom. Freedom is everything. You master your financial destiny, growing richer and richer gradually. Very soon, you’ll realize that trading is the best vehicle for financial freedom; plus the greatest game on earth. Sadly, many people don’t believe this fact. How can I experience permanent success in the markets? Answer: You will attain permanent success once you devise a way to make money in the market without being able to predict the market – without knowing what the market will do next. This kind of strategy isn’t hard to devise. You’ll then see each new trade as a potential loser until you’re proven otherwise. This mindset will enable you to activate stops and use a small position size. You’ll know trading is simply a game of probability and with a good RRR, the odds will eventually come in your favour. This is what’s called positive expectancy. With this simple approach, you’ll no longer see trading as difficult. More importantly, you will attain permanent success without the ability to know the future, which begins from your mind. This piece is ended with 2 quotes: “Talking about trader psychology may stir intellectual debate, but the real work of trader psychology is about re-working the beliefs are you projecting onto the markets about your capacity to manage uncertainty (with your trading account as the arbiter). Simply being knowledgeable is never enough. It is the hard, but satisfying, work of examining the beliefs that drive your performances in trading that matter.” - Rande Howell “The complete trader is able to combine all or parts of the above approaches with his own style. Trading mastery combines observation, scientific knowledge, good judgment, intuition, and creative instincts with decisive action.” – Joe Ross Tap the secret here (almost free of charge): Advfnbooks.com/books/insights/index.html

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair edged higher last week, reaching the resistance line at 1.1900, before the pullback that is currently being experienced. Price has gained more than 1000 pips since early May 2017, and the trend for this year has generally been bullish. The pullback may end up giving a good opportunity to buy long at better prices, in the context of an uptrend (for the outlook on EUR is bullish for this week). Price could thus target the resistance lines at 1.1800, 1.1850 and 1.1900. USDCHF Dominant bias: Bullish A recent weakness in CHF has made USD/CHF go upwards, resulting in the current bullish bias. However, the bullish bias is currently precarious, for price merely consolidated last week, closing above the support line at 0.9700. Further consolidation this week would result in a neutral bias, unless price is able to breach the resistance level at 0.9750 to the upside, closing above it. On the other hand, a movement below the support level at 0.9550 would result in a bearish bias, which may happen in case CHF gathers bullish momentum (a possibility). GBPUSD Dominant bias: Bullish GBPUSD is bullish, but there is a threat to the bullishness. As the market moved in a positive correlation with its EURUSD counterpart, its price was able to go up last week, testing the distribution territory at 1.3250, before there was a considerable pullback on Thursday and Friday. From the high of last week (1.3262), price dropped 210 pips, closing below the distribution territory at 1.3050 (hence the threat to the bullish bias). The threat may increase as price goes further southward, as the outlook on GBP pairs is bearish for this week. The accumulation territories at 1.3000 and 1.2950 could be breached easily. USDJPY Dominant bias: Bearish Here is a bear market, with a clear Bearish Confirmation Pattern in the market. Price has been going southwards in a slow and steady manner, having lost 430 pips since July 11. The market bounced upwards on August 4, but that pales into insignificance when compared to the overall bearish bias. This week, the bearish journey would continue - owing to the ongoing bearish expectation certain JPY pairs. The initial target is the demand level at 110.50, then followed by the demand level at 110.00 which was also tested last week. EURJPY Dominant bias: Neutral The neutrality on this trading instrument continued last week. Price attempted to stay above the supply zone at 131.00, but the attempt proved abortive. Had the attempt succeeded, a bullish signal would have been generated. The weakness that was seen in the last few days of last week has only put more emphasis on the neutrality of the market. One factor preventing a serious bearish movement in this market is the stamina in EUR, and therefore, there may not be a big pullback until EUR undergoes exponential weakness. This forecast is concluded with the quote below: “Be proud you're a trader. A trader is a man who earns what he gets and does not give or take the undeserved. A trader does not ask to be paid for his failures, nor does he ask to be loved for his flaws. A trader does not squander his body as fodder, or his soul as alms. Just as he does not give his work except in trade for material values, so he does not give the values of his spirit - his love, his friendship, his esteem - except in payment and in trade for human virtue, in payment for his own selfish pleasure, which he receives from men he can respect…” - Ayn Rand

GOLD (XAUUSD) Dominant Bias: Bullish Gold went downwards in June, but went upwards in July, thus recovering some of the losses sustained in June. In July, a low of 1204.53 was reached, while a high of 1270.63 was also reached – showing bull’s supremacy. The bullish effort that was made last month has resulted in a bullish bias, which is supposed to continue this month. Gold may target the resistance levels at 1270.00, 1275.00 and 1280.00. These are initial targets, which might be exceeded as price goes northwards in slow and steady manner. SILVER (XAGUSD) Dominant Bias: Bullish Silver plummeted in June and early July, reaching a low of 14.3553. The low was reached as a result of a flash crash that was experienced in the first week of July, which was quickly recovered as price bounced seriously upwards, closing the month on a bullish note. There is now a Bullish Confirmation Pattern on Silver, which signals further bullish effort in August. The next targets are located at the supply levels at 17.0000, 17.5000 and 18.0000, which would require a very strong buying pressure to exceed. BITCOIN (BTCUSD) Dominant Bias: Bullish Bitcoin is both volatile and choppy (though the overall bias on the market is bullish). There was a serious bearish movement in the first half of July, which culminated in a gap-down. That threatened the bullish bias, but the second half of the month saw an agreeable recovery as price went upwards by roughly 100,000 pips from the low of the month. This has helped emphasize the recent bullish outlook on the market, which is expected to continue in August. The distribution territories at 2900.00, 2950.00 and possibly, 3000.00 are being aimed. However, there is a probability of a pullback as price approaches the distribution territory at 3000.00, which is an important territory.

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish EURUSD, which has generally been bullish this year, went upwards by 100 pips last week, testing the resistance line at 1.1750. Some attempts were made to breach the resistance line to the upside, but to no avail. However, the resistance line remains under siege and it may be breached to the upside, as other resistance lines at 1.1800 and 1.1850 are targeted. The outlook on EUR pairs is bearish for this week, but bullish for August 2017; so we may see some considerable correction before the end of the week. USDCHF Dominant bias: Bullish Perpetual weakness in CHF has helped USDCHF to generate a clean bullish signal (most CHF pairs also skyrocketed while the CHF/JPY plummeted). Price gained about 250 pips last week, and it is currently volatile. The market would continue going upwards as long as CHF shows weakness. This is a classical example of when both USDCHF and EURUSD go into a positive correlation; i.e., they both go upwards. The USDCHF normally goes into opposite direction to EURUSD, but this time around, the case is being influenced by exponential weakness in CHF. Price may go further upwards to test the resistance levels at 0.9750 and 0.9800. However, CHF would regain its losses, starting from this week and throughout August; something that would send CHF pairs (including USDCHF) southwards. GBPUSD Dominant bias: Bullish GBPUSD was able to retain its bullishness last week, trying to go upward just like EURUSD has done, since both of them normally go into positive correlation. The distribution territory at 1.3150 was tested repeatedly last week, and it might be breached to the upside this week, as other distribution territories at 1.3200 and 1.3250 are aimed. Although GBP pairs would experience mixed results in August, GBPUSD would not really become bearish as long as it stays above the accumulation territory at 1.2850. USDJPY Dominant bias: Bearish In this market, this month has been bearish so far. Last week was also characterized by bearishness in spite of bull’s desperate effort to push price upwards, which made price tested the supply level at 112.00, before price went downwards to close below the demand level at 111.00. The next target is the demand level at 110.50, which would easily be breached as other demand levels at 110.00 and 109.50 are targeted. The outlook on JPY pairs is bearish for this week and for August. Therefore, long trades are not recommended. EURJPY Dominant bias: Neutral This currency trading instrument has been consolidating for about two weeks, resulting in short term neutrality. A movement above the supply zone at 130.50 would bring about a Bullish Confirmation Pattern in the market; while a movement below the demand zone at 128.00 would result in a bearish bias. This is what is expected to happen within the next several trading days. Nonetheless, bear would eventually become a winner in August. This forecast is concluded with the quote below: “It doesn’t matter how often a method or system wins, what matters is the bottom line: does the method or system make money for you?! If it does, then stick with the bottom line.” - Andy Jordan