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Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD trended downwards last week, just as it was expected. Price moved sideways from Monday till Wednesday, when it started dropping further downwards. The support line at 1.0400 was tested, and although price closed above it, it would be tested again. The outlook on EURUSD is bearish for this week. So we may see further bearish movements which may enable price to break the support lines at 1.0400, 1.0350 and 1.0300 to the downside. Eventually, EUR might reach parity with USD. USDCHF Dominant bias: Bullish In exact opposite manner to EURUSD, this market underwent a shallow bearish retracement within December 12 and 14. Price went up significantly on December 14, moving briefly above the resistance level at 1.0300, and later closing below it. USDCHF would continue to make rally attempts, though it would come across some challenges this week. While bearish corrections could be contained around the support levels of 1.0050 and 1.0000, the resistance levels at 1.0300 and 1.0400 would be the targets for this week. GBPUSD Dominant bias: Bearish This market consolidated on Monday and Tuesday, to drop southward on Wednesday, according to forecast last week, in the context of a downtrend. The accumulation territory at 1.2400 has been tested again and again, but there is a considerable amount of opposition to the bearish movement, around the accumulation territory. Price would go below it this week, owing to the fact that the bias on GBPUSD (as well as some GBP pairs), remains bearish for this week and for the rest of this month. Price would still go downwards by a minimum of 300 pips before the end of this year. USDJPY Dominant bias: Bullish According to last week analysis, this trading instrument went upwards 300 pips last week, after moving sideways on Monday and Tuesday. Since November 9, price has trended northwards more than 1700 pips; and the northward movement could continue this week. There is Bullish Confirmation Pattern in the market and the supply levels at 118.50 and 119.00 may be tested this week. As from now on, the movements on JPY pairs would be determined by strength of individual currency, not the weakness in Yen. This means USDJPY could rally further while GBPJPY could plummet. EURJPY Dominant bias: Bullish There are going to be serious movements in the JPY markets this week (while next week would be quiet), and EURJPY would not be an exception. This is a bull market, and while there may be occasional pauses and consolidation along the way, there could be further bullish movement. However, the ongoing weakness in EUR could scuttle this expectation. As long as price does not cross the demand zone at 121.00 to the downside, the bullish bias would hold. This forecast is concluded with the quote below: “In order to taste success in the trading market, you'll need to develop really simple strategies. You're likely to take trading decisions in a more confident way, remain headstrong and gain more winning opportunities when you follow some really simple strategies.” - Sean Lee Source: http://www.tallinex.com

“It’s Monday morning. You are warm and toasty in your bed, hearing the world around you wake up. You allow yourself a little sleep in, and then pull open the curtains. Your swimming pool is shimmering in the sun light, and your outdoor lounge beckons. After a satisfying breakfast, the markets open, and you casually look to see how your trades are doing. Then you settle back on the lounge and plan out your day. On your terms. Answering to no-one but yourself. Safe and confident in the knowledge that your trades are working for you... This could be your future.” – Louise Bedford (Source: Tradinggame.com.au) In April 2016, I wrote about 3 best traders I’ve even seen. These brilliant trades aren’t stars in the world of trading, but they beat the so-called stars. Their outperformance is huge! I promised to give you an update on the result and identities of these mad geniuses. They’re really exceptional in that they even participated in another private contests, which consisted of 100 profitable traders, and they came out on top again. This happened in spite of the fact that the market conditions during the first contest was completely different than the market conditions during the second contest. So they have strategies that can survive all market conditions. I’m very happy for them. For a reminder, these are the details of their recent performances: The contestant who came first turned 2,500 USD into 1,433,480 USD (57,239.20%). The contestant who came second turned 2,500 USD into 741,365 USD (29,554.60%). The contestant who came third turned 2,500 USD into 713,076 USD (28,423.04%). The top three traders are Andris D, a Latvian; Bogdan D, an American; and LD N, also an American. This is no surprise, Americans are among the most effective traders on this planet. WHAT THE BEST TRADERS HAVE IN COMMON These traders were interviewed, as well as other profitable traders. I read the interviews myself and would like to give you tips on what they’ve in common. They were gainfully employed before they became traders They even kept their day jobs after becoming traders. One is a soccer player. One is an electrical engineer, while one is a former submariner and currently a wealth manager in a trading firm. Being gainfully employed before one becomes a trader will help one’s psychology, contrary to the impatient and risky tendency of a jobless trader. It’s good to become a trader while you’re earning a steady source of income, not when you’re jobless and destitute. Those who’ve sources of income find it easier to speculate with monies they can afford to lose. They can also make rational trading decisions because their existence isn’t dependent on a single trading capital. This goes in a sharp contrast to someone who must make profits in the markets or go hungry. When you talk about trading in the hearing of those who’ve good jobs, they’ll reply that they aren’t interested. However, when they lose their jobs, they come to trading as the last resort. This is the worst time to become traders. It’s far better to become traders when you’re comfortable, and when you become consistently profitable, you can then go solo as a trader, if you think that’s viable. They’ve years of trading experience before reaching profitability One has 6 years of experience. One has 5 years of experience; while another has 10 years of experience. This means they’d been playing the markets for long, before they got to the stage in which they can pull out profits consistently. Let me tell you a fact. It’ll take you years to master the markets personally. Anyone who tells you otherwise is fooling you. Even if you buy a good trading system, you’ll need some experience to use it successfully. The way an experienced trader applies a trading system is different from the way a rookie uses a trading system. Don’t think you’ll come to trading and start making consistent profits right away. It’ll take you some years to do that. They go into trading to make money This is why we become traders: We want to make money. The major reason these geniuses become traders is to make money, and they craved profits badly enough. They wanted better living standards. They wanted financial freedom. They were aware that trading brings wonderful opportunities. But you don’t make money because you want money. You make money because you’re persistent, perseverant, diligent, and patient. You need to crave success badly enough. They use manual and automated strategies Manual strategies are good. Automated strategies are good. There is a genius who made huge money based on manual trading only. There is a genius who made huge gains based on automated strategies only. As long as you control your risk, stick to your rules and approach trading rationally, you would be victorious. They’ve vowed never to quit trading Whether the going is good or bad, these exceptional traders look forward to trading forever (until they drop dead). Unlike undisciplined traders who threaten to quit when they face drawdowns and promise to continue when they see positivity, these profitable traders have decided to continue trading, come rain or shine. Would you keep on being a trader, moving forward in your journey to success? Or would you stop being a trader because of the current roadblocks? Would you give what it takes to ensure that you reach consistent profitability? May you be given the wisdom to make decisions that would make it possible for you to be a testimony to others in future? Conclusion: Maximiliano Lepez’s college professor once told him he was foolish for thinking he could beat the markets. That statement was enough to discourage many people from trading, or who would not take a word of a college professor seriously? But Maximiliano didn’t allow himself to be discouraged. He went to the battlefield of the financial markets and became a proficient trader, using algorithmic strategies. He’s the last laugh. This article is ended by the quote below: “It’s a matter of finding an approach that works for the individual. A person has to know whether they are comfortable with fundamental or technical, long term or short term, certain types of markets, wider risk or less risk… You can go through a whole checklist of things and find it’s different for each individual.” - Jack Schwager Source: http://www.tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair made some bullish attempt in the first few days of last week. Price rallied 300 pips, testing the resistance line at 1.0850, before it began a serious bearish movement. The bullish gains that were initially made last week, were eventually lost as price plummeted, to close just above the support line at 1.0550, after testing it. The market outlook is bearish for this week, since EUR is expected to continue its weakness while USD would continue gathering stamina. There is a possibility that EUR would reach parity with USD in a foreseeable future. USDCHF Dominant bias: Bullish Last week, USD/CHF moved sideways from Monday till Wednesday, and then started moving upwards on Thursday, in conjunction with the extant bullish bias. Price tested the resistance level at 1.0200, and later closed below it. The outlook on the market is bullish for this week; price could reach the resistance levels at 1.0250 and 1.0300. However, it would also be seen that CHF is rallying versus some major currencies, which may prove to be a challenge for the bullishness of USDCHF. GBPUSD Dominant bias: Bearish Cable went upwards on Monday and Tuesday, reached the distribution territory at 1.2750. Price attempted to stay above that distribution territory, but the attempt was rejected as a southwards movement began, which eventually posed a threat to any bullish signal in the market. Price would move further southwards this week, going below one accumulation territory after the other. The outlook on GBP pairs is bearish for the week. USDJPY Dominant bias: Bullish USD/JPY consolidated from December 5 to 7, and the rallied on December 8 and 9 (though the consolidation started earlier than that). Since the low of November 9, the market has gone up by 1400 pips, and this would continue. As it was forecast every week in the last three weeks, the outlook on this market, and as well as other JPY pairs, remains bullish. The supply levels at 115.50, 116.00 and 116.50 could be reached this week. EURJPY Dominant bias: Bullish There is a conspicuous Bullish Confirmation Pattern on this trading instrument, albeit it is currently volatile. Price has recently swung up and down in the context of an uptrend, but the overall movement would be bullish. The targets for the week are supply zones at 122.00, 122.50 and 123.00, which were all tested last week. The major reason why price is generally bullish here is because there is a serious weakness in Yen, and as long as the weakness continues, EUR (which is weak on its own), would manage to keep on going upwards against it. This forecast is concluded with the quote below: “Trading and markets have been a major part of my life for almost 60 years. Trading has been the means through which my family and I have received many blessings.” – Joe Ross Source: http://www.tallinex.com

GOLD (XAUUSD) Dominant Bias: Bearish Gold trended downwards throughout last November, dropping over 16,000 pips from the high of 1336.98 on November 9. The overall bias is bearish, and therefore, the bearish movement is supposed to continue till the end of the year. Right now, price is consolidating, and that is what it has done so far this week. A rise in momentum is expected this week or next, which would most probably favor the current bearish outlook in the market. Even rallies would be transitory and could be shorted, since price could reach the demand levels at 1150.00, 1140.00 and 1130.00 within the next few weeks. SILVER (XAGUSD) Dominant: Bearish Silver trended downwards last month, and it has consolidated to far this month. There is a strong Bearish Confirmation Patterns in 4-hour and daily charts; so the current consolidation is merely a pause in the trend, for it is supposed to resume any time this month. Silver would not be able to rally significantly and hold it out long, until Gold is able to that. Price is now trading below the supply zone at 17.0000, and it would be going towards the demand zones at 16.0000, 15.0000 and 14.0000 within the next several weeks. Bullish attempts ought to be fleeting and should be disregarded. BITCOIN (BTCUSD) Dominant Bias: Bullish Bitcoin is in a big uptrend, which started early October 2016 (following the equilibrium phase that was witnessed in August and September). Since October, price has gone upwards by more than 16,000 pips, topping at 773.00, before it eased a bit. The northward journey would continue till the end of this year, going into next year, as price targets the distribution territories at 800.00, 850.00 and 900.00. Possibilities of pullbacks are present along the way, but these should be recovered quickly or gradually as price resumes its long-term bullish journey. Source: http://www.tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD consolidated throughout last week – in the context of a downtrend. A closer look at the market reveals that there has been some consolidation to the upside, and there would be some bullish attempt this week. EUR would rally versus most other major currencies, save USD, which is expected to continue strengthening this week. There are resistance lines at 1.0750 and 1.0800. There are also support lines at 1.0550 and 1.0500. USDCHF Dominant bias: Bullish This pair also consolidated last week; while consolidation to the downside is revealed by a closer look. USD would remain strong this week, and would be seen going upwards against certain major currencies. The challenge is that CHF would also make some rally attempts this week, and thus, USDCHF may find it somewhat difficult to rally massively. There are resistance levels at 1.0150 and 1.0200. There are also support levels at 1.0050 and 1.0000. GBPUSD Dominant bias: Bullish Cable ended a two-week equilibrium phase by breaking out significantly. The breakout was well anticipated and it ended up favoring bulls, as price went up 330 pips last week, slashing through the accumulation territory at 1.2700 and closing above it. This week, Cable would rally versus certain majors (like NZD and AUD), and of course, it is currently rallying against USD. This is something that may continue, but not without challenge from bulls. USDJPY Dominant bias: Bullish This currency trading instrument experienced some bullish movement last week. Price went up 300 pips, testing the supply level at 114.50, and unable to go above that supply level. Price underwent some bearish correction on Friday, but the bullish outlook is far from over. In fact, the outlook on the market this week is also bullish, and further northwards journey is expected. Price would need to go above the supply level at 114.50, and then continue towards the supply levels at 115.00 and 115.50. EURJPY Dominant bias: Bullish This cross underwent a smooth northwards movement last week, topping at 121.88, before closing below the supply level at 121.50. There is a Bullish Confirmation Pattern in the market and further bullish movement could be witnessed this week. There are possible bullish targets at the supply zones of 122.00, 122.50 and 123.00. On the other hand, the demand zones at 120.00 and 119.50 should try to hinder vivid pullbacks this week. This forecast is concluded with the quote below: “Over the coming weeks and months, many excellent short, medium and long-term trading opportunities for low risk Forex trades will present themselves. Now is the time to put together your game plan with multiple edges to profit from these trending currency pairs… Whether you want to open investment positions (using the weekly or daily chart), swing trade the 4-hour chart, or day trade the 5 minute charts, the opportunities are going to be plentiful. With these nascent trends, the leverage, the liquidity, and the 24-hour-trading the Forex market offers, you have to ask yourself: why aren’t you trading currencies yet?” - Gabriel Grammatidis (Source: Vantharp.com) Source: http://www.tallinex.com

REWARD VERSUS MEANING Trading success does not follow a linear trajectory, success ebbs and flows with good times and bad times. If you trade for long enough you there eventually will come a time when you question the decision you have made to become a trader. It all seemed so easy initially and there was never any consideration as to what could possibly go wrong. This is a natural part of the journey and it is a watershed moment because those who understand their own motivations will have sound concrete reasons for continuing. Those who do not or whose motivations could be termed shallow or materialistic in nature do not and it it those who do not who will most likely give up. Often when I ask people why they want to trade I get the overwhelming and immediate response – MONEY. After all this is a money profession – the aim of trading is to accumulate wealth through whatever approach suits your personality. It could be options or FX trading, or position trading equities. This pursuit of wealth as a sole driver is the reason why advertising in this industry is directed to switching on this particular hot button. Money or the accumulation of wealth has always been a strong societal driver. In technical parlance money is known as an extrinsic motivator – that is you do something right – you get a reward. It is a very Pavlovian arrangement. This arrangement is after all is the basis for capitalism. Traders are often caught in this trap believing that this is an exchange for labour profession when it is actually an ideas profession. This is a natural mistake because of all of our socialisation has lead us to this point. We have been lead to believe that labour be it in whatever form it takes is exchanged for money and money is the extrinsic motivator. Granted, some are highly motivated by such rewards since careers are built on this sort of behaviour manipulation but trading is not really a career it is in my eyes more of a lifestyle choice. Unfortunately many fail to see beyond this as an initial motivation. The issue with money as a motivator is that the subconscious cannot recognise what this means so it has no context for it. Therefore it cannot be integrated into ones psyche – it remains if you wish an outsider sitting on the sidelines attempting to steer what you do. But no matter what import you give to it as a motivation it is still an outsider and cannot directly influence the trajectory of your behaviour. The issue with this lack of integration is that eventually it will trip you up – the subconscious has a remarkable ability to go in the direction that it wants to go in. Not in the direction you think it should go in. And you and your trading suffer the consequences of this. In part this disconnect relates to the notion of the shadow which is an integral part of Jungian psychology. Essentially the shadow is the darker more destructive parts of ourselves which our conscious mind does not identify. And it these parts that often brings traders unstuck – the expression that is often bandied about is snatching defeat from the jaws of victory. Over the past three decades I have lost count of the number of traders I have seen who have been on the cusp of making it only to do something stupid. Sometimes the better angels of our nature lose the battle. To be successful at trading there is a need to integrate all of our beliefs, desires, and motivations into a cohesive whole as opposed to a jumble of vague ideas which revolve around money. Money as a motivation will fail to survive the first set back you have and there will be set backs since these are also part of the game. It is only deeper motivations that enable us to move on after being literally put on our arse by the market. To think that this will never occur is naive in the extreme but once again the industry itself is to blame since it only promises the new Ferrari not that you might end up actually catching the bus. A deeper reflection on why people want to trade reveals something other than money. And these answers reveal the true nature of the trader. Some relate to control of one’s life, others to time and having more of it. Others to what they will be able to do in the long term with their family. Such motivations are intrinsic; they are part of the fabric of the trader. Trading is merely a vehicle to fulfill these deeply held aspirations. The motivations that each person brings to a certain endeavor or choice is idiosyncratic and will not translate to someone else. Your goals only have meaning to you but this is the central issue, they have to be your goals and not someone else’s and this clashes directly with the way we have been brought up. The structure of our lives is largely built around fulfilling the goals others, be it doing what you we told at school through to following the instructions of your employer. Getting rich was often the payoff for following someone else’s instructions. It is not a value or meaning in and of itself. This is an important distinction because true motivations are based around meaning and not reward – Both Great change and great resilience comes from internal motivations and the strongest of these spring from the search for meaning. This means that the search for meaning is an internal search. You do something because you want to do it not because you will get a reward for it. Internal motivation brings about meaning and purpose and therefore adherence and dedication. Finding purpose in your own goals is a new experience for many since it is reflective of what you want from your life not what someone else’s either wants from you or wants for your life. This means that you have to undertake the hard task of writing down your meanings – what is your purpose in wanting to follow a certain path. It requires you to have your own philosophy and to be able to articulate what this is. This is the hard part – articulating what you want and you should be able to do this even if it is a struggle. Meaning has its own motivating qualities. I firmly believe that it is impossible to motivate someone irrespective of what the industry that has sprung up around positive thinking will tell you. Motivation and therefore reliance stems from meaning since true meaning cannot be dimmed by external events whereas simply being driven by a desire to have a Porsche by next Thursday will not survive the first hurdle. Author: Chris Tate Article reproduced with kind permission of http://tradinggame.com.au/ http://www.tallinex.com wants you to be a successful trader Super Trading Strategies: http://www.advfnbooks.com/books/supertradingstrategies/index.html

AUS200 Dominant bias: Bullish On November 9, AUS200 dipped massively, reaching a low of 5042.00. Since then price has climbed numerous resistance lines (now support lines) gaining roughly 4500 points. Since the bias on the market is bullish, it is expected that price would continue going upwards till the end of the year. While there may be pauses, consolidation, and transient corrections along the way, the market is expected to reach the resistance lines at 5530.00, 5560.00 and 5590.00. SPX500 Dominant bias: Bullish This market trended south in the first few days of November, and then gapped upwards, assuming a strong bullish movement. The bullish movement was briefly interrupted on November 9 as price became extremely volatile, reaching a high of 2170.3 and a low of 2031.9. Since then price, has trended northward smoothly, reaching the resistance level at 2210.0. Attempt to close above that resistance level is currently not successfully, but that goal would be achieved this month, as price goes upwards towards the resistance levels at 2230.0, 2260.00 and 2290.0. US30 Dominant bias: Bullish What happened to US30 last month was quite similar to what happened to SPX500. Price trended downwards from November 1 to 4, and the gapped upwards to start a noticeable bullish journey. Price plummeted on November 9, reaching a low of 17478, owing to the US presidential elections results. From that low, price has appreciated more than 1780 points, to close at 19161 on November 30. There is a strong Bullish Confirmation Pattern on the market and the rest of this year would be bullish as price trudges towards the distribution territories at 19300, 19500 and 19700. GER30 Dominant bias: Neutral Unlike SPX500 and AUS200, GER30 did not do much in November. Price did start trending downwards for a few days, gapped up later and became seriously volatile on November 9. The market dropped like stone and quickly recovered – a kind of flash crash. Since then, price has entered an equilibrium phase, bringing about a neutral bias on the market. Now, there is a base, and a rise in momentum would force price to go out of that base, and when that happens, it would most probably favor bulls. The supply levels at 10700.0, 10750.0 and 10800.0, would likely be tested within the next several weeks. FRA40 Dominant bias: Bullish Interestingly, FRA40 almost did what GER30 did last month. It went south in the first few days of November, gapped upward, started a bullish journey, only to experience a flash crash on November 9. The market has recovered and it is currently making some attempts to go higher and higher, though bears are not making that an easy task (which explains the current choppy market condition). Since the outlook on the market is bullish, it is expected that price would somehow go upwards this month, maintaining the bullish outlook on it. Source: http://www.tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish Last week, this pair moved largely sideways in the context of a downtrend. A break out of the sideways movement should happen before the end of this week (or next week), which would most probably favor bears. Although this pair is expected to continue its bearishness, especially in December, some bullish effort would take place, which may enable price to go upwards by 200 pips or more, before seeing another bearish correction, eventually. Time would tell whether EUR would reach parity with USD. USDCHF Dominant bias: Bullish Just like EURUSD, USDCHF also consolidated throughout last week, in a context of an uptrend. A breakout should happen before the end of this week, ending the current consolidation. Price is supposed to target the resistance levels at 1.0200 and 1.0300. On the other hand, bullish effort on the part of EURUSD might force USDCHF to retrace temporally southwards, towards the support levels at 1.0100 and 1.0000. GBPUSD Dominant bias: Neutral GBPUSD went flat throughout last week. The flat movement started about two weeks ago and it has resulted in a neutral bias in the near-term, while the major trend in the market remains bearish. A rise in momentum is expected this week, which would most probably favor the dominant bearish trend. The outlook on GBP pairs is bearish for this week, and thus, further southwards movement is expected on GBPUSD. USDJPY Dominant bias: Bullish USDJPY is currently one of the strongest moving currency pairs. Price went upwards 310 pips this week, topping at 113.89, before getting corrected a bit lower on Friday. Since November 9, price has gone upwards by over 1200 pips; plus the outlook on the market is bullish for this week, again (the outlook is also bullish on other JPY pairs). Therefore, occasional pauses and corrections are supposed to be transitory this week, as price goes further north. EURJPY Dominant bias: Bullish This is also a bull market – owing to the strong Bullish Confirmation Pattern present in it. Price went north 250 pips last week, after consolidating on Monday and Tuesday. The supply zone at 120.00 has been tested, and it might be broken to the upside this week, owing to the ongoing buying pressure in the market, brought about by persistent weakness in Yen. After the supply zone at 120.00 is overcome, the next targets would be the supply zones at 130.00 and 140.00. This forecast is concluded with the quote below: “Trading and markets have been a major part of my life for almost 60 years. Trading has been the means through which my family and I have received many blessings.” – Joe Ross Source: http://www.tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair went downwards last week, going below the resistance lines at 1.0650 and 1.0600. Since November 9, price has come down more than 700 pips, leading to a very strong bearish bias on the market. There is a possibility of further downwards movement, which could enable price to reach for the support lines at 1.0550, 1.0500 and 1.0450. This expectation would hold only as long as USD does not showcase any noticeable weakness. USDCHF Dominant bias: Bullish USDCHF moved upwards by 215 last week. Price managed to go above the psychological level at 1.0000, now at the resistance level of 1.0100. Price has gone upwards reluctantly so far, and there is a possibility that it would make further bullish effort this week. There is another potential target at the resistance level of 1.0200, but the further the market goes upwards, the higher the chances of a large pullback. The bullish bias would hold as long as USD does not lose stamina. GBPUSD Dominant bias: Bearish GBPUSD underwent a vivid bearish correction throughout last week – an action that has resulted in a bearish signal in the short and long terms. Long trades are currently not prudent in this market, unless price action reveals that things are conspicuously bullish. Right now, the market is in a downtrend, and only short trades should be sought. Rallies would offer opportunities to go short at better prices. USDJPY Dominant bias: Bullish There is a strong Bullish Confirmation Pattern on USD/JPY. Since the low of November 9, the pair has shot skywards by over 960 pips. Apparently, this is one of the strongest directional movement in recent months, and the supply levels at 111.00, 111.50 and 112.00 could be attained this week. The outlook on JPY pairs remains bullish for this week (just as bullish movements were forecast for most JPY pairs last week). EURJPY Dominant bias: Bullish This cross also went bullish last week, fuelled by the buying pressure in the market, and as a result of weakness in Yen. Because Yen is so weak that, even weak currencies like EUR and GBP could manage to rally versus it. In case a currency is strong in its own right, just like the case of USD, the rally against Yen would be strong and fast indeed. As long as Yen does not become strong conspicuously, the northward movement on EURJPY would continue. The supply zones at 118.00 and 118.50 are being watched this week. This forecast is concluded with the quote below: “YOU are the biggest factor in your trading success…” – Dr. Van. Tharp Source: http://www.tallinex.com

Trading For Sure Profits Rule-based discretionary traders are among the best traders on this planet. The trading strategy explained here is a rule-based discretionary system. Similarly, the fact that the majority of traders fail does not mean that trading is a dead end activity. Traders who are successful prove otherwise. Occasional losses leading to transient drawdowns are inevitable but not insurmountable challenges in trading. The secret to success lies in developing a deep love for trading and a willingness to apply trading principles that work. Trading principles that work are non-market specific. For a strategy to survive all market conditions, it must have three ingredients incorporated into it: aborting losers and capitalizing on winners, very low risk, and rock-solid discipline. These are the secrets of trading masters – trading success has nothing to do with your ability to predict the markets accurately. If you give yourself a sensible reward-to-risk ratio, you will survive the markets in the long run. For instance, it does not make sense to risk $20 in an effort to gain $2. These secrets are what make the difference between financial freedom and financial disaster – the difference between solvency and bankruptcy. The Pedigree of a Good Strategy It is very disturbing that so many traders find it difficult to survive on the markets. Many top market speculators are perplexed by a new generation of traders who do not seem to have a clue about the skills necessary to preserve their trading portfolios. The issue is: even if you are disciplined, it would be difficult for you to survive with a worse expectancy system, i.e. a system whose risk is greater than the reward. And checking complex data ad infinitum is not so sensible for simple markets either. Good trading strategies are the ones that survive all market conditions. This kind of strategy must be effective in sustaining minimal drawdowns when the market conditions are not favorable – while making a decent profit during favorable market conditions. Whether a strategy is trend-following or countertrend or scalping, it will survive all market conditions provided that those simple but effective principles are incorporated into it. The markets eventually reward those who show an earnest quest for trading mastery. Winning Strategy for Short-term Trends: Breakdown of the Strategy Timeframe: Trading style: Indicators parameters: Buy rule: Sell Rule: Position sizing: Stop loss: Take profit: Trailing stop: Risk per trade: Potential reward per trade: Max. weekly drawdown: Safety rule: Filter rule: Instruments names: Average orders per week: Orders type: Signals generation periods: Winning Strategy for Short-term Trends:

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair started a bearish movement on Monday, which was briefly interrupted by a massive rally, caused by the U.S. presidential elections results. Price rallied 280 pips on Wednesday and started coming down that day, forming a Bearish Confirmation Pattern in the market. The support line at 1.0850 is almost being breached to the downside. While the support lines at 1.0850 and 1.0800 could be breached this week, there is also a possibility of rallies in the market (especially when USDCHF pulls back again). USDCHF Dominant bias: Bullish USDCHF moved sideways on Monday and Tuesday, and plunged seriously on Wednesday, November 9. The bearish plunge was quickly recovered as price rallied massively 290 pips that day, from a low of 0.9549, leading to a bullish signal in the market. Price could now target the resistance level at 0.9900, 0.9950 and lastly, 1.0000. However, a great challenge remains at the resistance level at 1.0000, which is a psychological level. In case price is unable to go above that psychological level, there could be a clear bearish correction. GBPUSD Dominant bias: Bullish Cable remains bullish in the near term, and bearish in the long term. The market is quite choppy, having consolidated from Monday to Thursday (in the context of a near-term uptrend), and then going upwards vividly on Friday. Further upward movement is anticipated this week, as the bias on the market remain bullish. The distribution territories at 1.2650, 1.2700 and 1.2750 may be targeted this week. The distribution territory at 1.2650 was tested last week, and it could be tested again, and a northward movement of 500 pips more, would cause a bullish signal in the daily chart also. USDJPY Dominant bias: Bullish As it was forecast last week, JPY pairs really made bullish attempts. The bullish journey started on Monday and it was briefly interrupted on Wednesday as there were temporary massive sell-offs on USDJPY. Price plunged by roughly 400 pips on Wednesday and rallied on the same day, plus Thursday, and consolidated on Friday. The market is currently above demand levels at 106.00 and 106.50, targeting the supply levels at 107.00, 107.50 and 108.00 this week. The outlook on most JPY pairs remains bullish for this week (with possible exceptions of AUDJPY and NZDJPY). EURJPY Dominant bias: Bullish The movement on this currency trading instrument was not as strong as that of USDJPY. The market is quite choppy while the outlook on it remains bullish. Should EUR gather some stamina this week, there could be more predictable bullish movement. Initial targets on the upside are the supply zones at 116.50 and 117.00. For price to go above these targets, persistent buying pressure is needed. This forecast is concluded with the quote below: “Take every trade that the system generates because you do not know where the returns are going to be generated.” – Chris Tate Source: http://www.tallinex.com

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 21 “Trading shares many similarities with another past-time I enjoy: strategy games. I love playing chess, and I think trading and chess require a similar set of characteristics to do well — they require that you act thoughtfully, never impulsively.” - Ron Kapar Name: Bill Dunn Nationality: American Occupation: Trader and portfolios manager Website: Dunncapital.com NO HESITATION FOR HOME RUN Bill spent his childhood in Kansas City and Southern California. He served 3 years with the U.S. Marine Corps. He got his Bachelor’s Degree in Engineering Physics from the University of Kansas in 1960. Then he obtained a Doctorate in Theoretical Physics from Northwestern University. In the following 2 years, he was a researcher in faculty positions at University of California and Pomona College. He also worked in logistics and operational systems in other areas. In 1974, Bill founded DUNN Capital Management, a Commodity Trading Advisor (CTA) with a long, rich history of experience and performance. Dunncapital.com states that, with 19 partners contributing a combined $137,000, Dr. Bill officially launched his finance career, trading client money in his 100% systematic managed futures strategy. When a trading opportunity presented itself, it was all or nothing, never hesitating to swing for the home run. He traded only 11 markets at that time, being in an uncharted territory at the time and breaking new ground in an undeveloped alternative asset class. The firm has a track record that spans over 30 years and has produced a compounded annual rate of return of 14.2% per annum, after all fees and expenses. Their staff are highly experienced and well-educated. Bill Dunn is now the Chairman Emeritus of DUNN. In January 2010, a business succession plan was put into place that gave Martin H. Bergin partial ownership of the firm. In August 2015, Mr. Bergin became the sole owner of DUNN. This means is Mr. Bergin currently the President and Owner of DUNN. What You Need to Know: 1. Bill Dunn is a trend follower. He trades what he sees. The benefit of doing this is clear in his track record. 2. Sometimes, he made great profits. Sometimes, he suffered some drawdowns. Such is trading. No matter the level of volatility in his portfolios, he never deviated from his main methodology. 3. For Bill, the markets are his real world. He started just like any one of you. He came across a newsletter while still young, and he was hooked. The rest is a story… 4. He’s a long-term trader, sometimes holding positions for more than a year. He’s computerized his strategy. At least, his background in scientific research and mathematical analysis both in academia as well as in the defense contracting industry has been applied to trading; and successfully. He himself said: I felt there were very definite economic trends that were established from knowledge and the ability to know what events meant. I was looking for a way to participate in [those] major trends when they occurred, even though they were unexpected.” 5. We don’t change our profitable methodologies because of drawdowns. Minor changes might be made to make a good methodology perform better, but that should not interfere with a good trading idea. 6. Bill acknowledges that money management is the true survival key; plus trading without a predefined exit strategy is a recipe for disaster. Conclusion: Speculation has to do with the unpredictability of the future. Whatever people do have to do with some of forecast which is inherent in the uncertainties of human acts and actions. This article is ended with a quote from Bill: “We have not made any changes because of a drawdown. While we have made minor changes since the program started trading in 1974, over the course of the years the basic concepts have never changed. The majority of the trading parameters and the buy and sell signals largely have remained the same.” Source: http://www.tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish From the weekly low of 1.0935, this pair went upwards by over 200 pips, to close above the support line at 1.1100 on Friday. Price is now close to the resistance line at 1.1150, and a breach of that resistance line would enable price to go towards another resistance lines at 1.1200 and 1.1250. As long as the support line at 1.1000 is not broken to the downside, the bullish signal, which has formed in this market, would remain valid. USDCHF Dominant bias: Bearish USD/CHF was unable to go above the psychological level at 1.0000. An attempt to do that on October 25 was quickly forestalled – even before that psychological level was even tested. It has been mentioned that failure to breach the level might result in a serious pullback, and that was exactly what happened. Price pulled back significantly last week, to close below the resistance level at 0.9700 on Friday. This 210-pip bearish movement has resulted in a Bearish Confirmation Pattern in the market and further price decline is a possibility this week (unless USD gathers some stamina). GBPUSD Dominant bias: Bullish Following a few weeks of consolidation, GBPUSD rallied massively last week. Price went upwards 370 pips, to test the distribution territory at 1.2550. The bias has already turned bullish in the short term (though it would take another 1000-pip movement to the upside, before the bias on the daily chart can turn bullish). Right now, there is a strong buying pressure in the market and this should continue this week. Unless USD gathers lots of stamina, bulls would be able to reach the distribution territories at 1.2650, 1.2700 and 1.2750. USDJPY Dominant bias: Bearish USDJPY consolidated on Monday and then plummeted on Tuesday. While going south, the demand level at 102.50 was almost tested, and this has brought an end the recent bullish bias. The demand level at 102.50 would eventually be tested, and probably breached to the downside. However, there is also a possibility that JPY pairs would make some bullish attempts this week, which could also be reflected on USDJPY. EURJPY Dominant bias: Bullish This trading instrument did not move very much last week. Unlike USDJPY, it was engaged in a slight bearish correction in the middle of last week; and the corrective actiion was ended on Friday as the market closed on a bullish note. This week, whatever happens to EUR would have some impact on the market. Before the end of the week, price would have gone either above the supply zone at 115.50 or below the demand zone at 113.50. This forecast is concluded with the quote below: “I'm a full time trader. Nothing else…For all of you guys that think trading full time isn't possible, well I'm here to tell you it is. I actually met another full time trader the other day at the basketball court (trading for 20 years) and he trades millions of dollars. So I don't understand why people think that trading full time a myth...” – MarketAddict (Source: Elitetrader.com) Copyright: Tallinex.com

“Acceptance is a good state for trading because at this level you can accept losses and profits — both of which are a regular part of trading. In fact, acceptance of small losses is critical to successful trading.” – Dr. Van K. Tharp WHAT’S YOUR ATTITUDE TO TRADING CHALLENGES? Michael: “I put so much effort and time into my trading, and still didn’t get it right! I’ll never succeed at trading. No matter how hard I try, it’s never good enough. Why do I even try?” Akin: “I can see that I’m making some progress in trading, but I made some embarrassing mistakes. I’ve learned some valuable lessons that will make me do better next time.” Questions: 6 months from now, which one would be a more competent trader Michael or Akin? If you want to have a good trader as a friend, which of those two men would you be more likely to keep? When you face frustration in trading, how do you react? Sade is fed up with trading and she refuses to take steps that can make her improve. She reasons, “Why should I waste my time on a career that gives me nothing in return?” Michelle makes concerted effort to be a good trader and to help other traders, whether she makes profits or not. She takes to heart the Golden Rules of trading, for she believes they work. For Michelle, trying to be a better trader brings rewards with the time. Questions: Which of these 2 women did you think would be successful as a trader? Which one would have better results in future? Are you like Sade or Michelle? WHAT CAN YOU DO? Avoid Pessimism: Pessimism will sap you of the strength you need to improve your trading and help deal with the challenges. Your outlook and attitude aren’t set in stone. You can be made “new” in your thinking (and ongoing process). Focus on the Positive Aspects of Trading: If you see everything about trading negatively, you will feel “afflicted” and every day will appear “bad” or gloomy. But if you focus on positive things in trading, you will have a “cheerful heart” and even feel joyful. The choice is yours. Occupy your mind with encouraging subjects on trading. Do Things to Help Other Traders: Look for opportunities to be self-sacrificing when it comes to helping other traders who need assistance. I haven’t totally put aside my long-term goals. But I’m focusing on the smaller goals I can reach now. When discouraging thoughts creep into my mind, I reflect on the many reasons I’ve to be a happy trader. If you’re dealing with negative trading circumstances, please ask yourself: Is the situation really hopeless? Have I reached a dead-end or is this merely a road-block. Learn to keep negative thoughts out by concentrating on something constructive in your career. Conclusion: Care for your attitude toward trading in the same way you would cultivate a garden. Root out the poisonous weeds of pessimism and negativity. Sow seeds of realistic optimism, and fertilize your life with actions that produce positive emotions. You will reap emotional crop that will make your trading career much more rewarding. And it will confirm that a trader’s attitude makes a difference! This piece is ended with the quote below: “The only Forex trading tricks recommended are simply patience, self discipline and applying strategies that will allow you not to take big risks.” – Painofhell (Source: Einvestorsforum.com) Copyright: Tallinex.com

AUS200 Dominant bias: Bearish AUS200 consolidated in the first few weeks of October, and dropped conspicuously last week. There are Bearish Confirmation Patterns in the 4-hour and daily charts, which portend the possibility that price could go further south. Therefore, price may target the support lines at 5200.0, 5100.0 and 5000.0 this month, though there would be temporary consolidations or rally attempts along the way. SPX500 Dominant bias: Bearish SPX500 has been consolidating for months. Price has been unable to effect any meaningful bullish rally since August and things are going gradually bearish. Right now, there are bearish signals in the 4-hour and daily charts, and so, the market may reach the support levels at 2100.0, 2090.0 and 2080.0. It is most likely that bears would dominate the market till the end of this year. US30 Dominant bias: Neutral This trading instrument has been in an equilibrium phase since August 2016, though price moved a bit lower in September, and then moving sideways till now. Although the equilibrium movement may continue for some time this month, a rise in momentum is imminent, and that may happen this month or next. A break above the distribution territory at 18650.0 would result in a bullish outlook; and a break below the accumulation territory at 17900.0 would result in a bearish outlook. As long as price is between these accumulation and distribution territories, the market would be viewed as being in an equilibrium phase; and so, a strong and persistent buying or selling pressure is needed to push price out of that zone. GER30 Dominant bias: Bullish On the daily chart, the bias on GER30 remains bullish. However a closer look at lower timeframes reveals that price is being corrected. Last week, a clear bearish correction was witnessed on the 4-hour char, though that is not yet strong enough to pose a serious threat to the bullish bias on the daily chart. This week, the current bullishness in the market would be most probably maintained, which cannot be overturned until the demand level at 10100.0 is breached to the downside. FRA40 Dominant bias: Bullish The situation surrounding this market is quite similar to the condition affecting GER30. The bias on the daily chart is bearish, but some correction has been going on a lower timeframe like the 4-hour chart. The bullish bias would continue to be safeguarded irrespective of some transitory pullbacks along the way, except a breach of the demand zone at 4350.0 is breached. Copyright: Tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair moved sideways last week, and then traded upwards on Friday. However, that was not significant enough to result in any bullish signal. The bias on the market remains bearish, and what happened on Friday could turn out to be a short-selling opportunity. The outlook on EUR pairs is bearish for this week, and therefore EURUSD would keep on being bearish. Price may thus test the support lines at 1.0900, 1.0850 and 1.0800 this week. The only thing could help bulls here is a large pullback on USDCHF, which is not likely this week. USDCHF Dominant bias: Bullish This trading instrument has managed to climb above the resistance level at 0.9900, before bears pushed back the price below it. The market has been consolidating for two weeks, though the bullish outlook remains valid. The outlook on USD is bullish for this week and this month, which means most major currencies would be weakened against it. USDCHF would make bullish attempts but there is a very difficult resistance level at 1.0000, which would require lots of buying pressure to breach. Should bulls fail to breach that resistance level, a pullback may materialize. GBPUSD Dominant bias: Bearish Cable has been moving sideways for two weeks, which has resulted in a neutral bias in the short-term. The long-term bias is bearish, and when momentum rises, it may favor bears. The outlook on the market is bearish for this week, and rallies should be disregarded, for they would be transitory and cannot be significant enough to bring an end to the current long-term bearish outlook. In November, large movements would be witnessed on GBP pairs, and they would undergo bearish movements in most cases. USDJPY Dominant bias: Bullish As it was mentioned in the last forecast, USDJPY has become bullish. Price moved upwards by 170 pips last week, to test the supply level at 105.50. The bearish correction that was seen on October 28 was just another opportunity to buy long when things are on sale, in the context of an uptrend. The most probable movement for JPY pairs is bullish for this week, though the situation may change before or by the end of November. EURJPY Dominant bias: Bullish In spite of the weakness in EUR, the EURJPY cross rallied by 230 pips last week. Price closed at 115.11 on Friday, after forming a clear Bullish Confirmation Pattern in the 4-hour chart. The current price action shows that bulls are still willing to push price further north, which may make price to reach the supply zones at 115.50, 116.00 and 116.50 this week. After all, it is expected that JPY pairs would make some bullish attempts in the week. This forecast is concluded with the quote below: “Earning a trading income compared to earning an occupation income is just so damned rewarding!” – Louise Bedford Copyright: Tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD dropped by over 100 pips last week. Price has dropped by more than 300 pips since October 10, resulting in a Bearish Confirmation Pattern in the market. The outlook on EURUSD (and other EUR pairs) is bearish for this week. Therefore, slow and steady downward movement is expected on EURUSD and the support lines at 1.0850 and 1.0800 could be tested this week. Rallies would proffer opportunities to sell short at better prices. USDCHF Dominant bias: Bullish Bulls laid a decisive siege at the support level at 0.9900 (formerly a resistance level) from October 12 to 20. It was already forecast that bulls would not find it easy to break the level at 0.9900 to the upside. On October 20, bears gave way to the persistent bullish pressure, partly due to existing stamina in USD. Price was able to close above the support level at 0.9900 after testing the resistance level at 0.9950, and retracing. This week, further bullish movement is possible in the market, because USD is strong and because CHF would be weak this week. Some currencies would rally versus CHF and this would help USDCHF to go more northward, though a significant bullish movement is not likely. GBPUSD Dominant bias: Bearish GBPUSD made a shallow rally attempt from Monday to Wednesday and then consolidated till the end of the week. As it was hinted in the last forecast, this week would witness more volatility on GBP pairs when compared to last week. This means the present consolidation on GBPUSD would end as momentum rises, though the outlook on GBP pairs is bullish for this week. In case GBPUSD rallies, we would not anticipate a serious threat to the extant dominant bias in the market. USDJPY Dominant bias: Bullish USDJPY went sideways throughout last week – a situation that could be termed a sideways movement in the context of an uptrend. The outlook on JPY pairs is bullish for this week, and USDJPY might be able to rise towards the supply levels at 104.50, 105.00 and 105.50. This is a situation that could lead to a strong Bullish Confirmation Pattern in the 4-hour chart. The supply levels at 103.00 and 102.50 would serve to restrict large pullbacks this week. EURJPY Dominant bias: Bearish There is a bearish signal on this trading instrument, as price dived by 170 pips last week. One great factor that has contributed to this bearish signal is the weakness in EUR itself, and the only factor that could effect any rally on this instrument is the fact that Yen could become weak (thereby causing JPY pairs to rally this week). In case EUR becomes weaker than Yen, price would fall further. A factor that causes Yen to become weaker than EUR would bring some rally in the market. This forecast is concluded with the quote below: "When you understand the rules of the game, you can play the game like a master..." – James Altucher Copyright: Tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair trended downwards by 220 pips last week – just as it was expected. Price closed below the resistance line at 1.1000, going towards the support line at 1.0950. Bears may eventually target the support line at 1.0900, but they would meet some opposition at that place. The bias on the market is bearish, and any rallies seen here should be taken as opportunities to sell short at better prices. USDCHF Dominant bias: Bullish USD/CHF was able to trend higher last week, managing to reach the resistance level at 0.9900. Based on the prognosis last week, bulls were unable to push price beyond the resistance level, though they may be able to do that this week, due to the perceived buying pressure in the market. The current price action shows that price is almost above that resistance level. Once price goes above the resistance level, next targets would be other resistance levels at 0.9950 and 1.0000. Once again, it is unlikely that price would go above the psychological level at 1.0000, though USDCHF would remain bullish as long as EURUSD remains bearish. GBPUSD Dominant bias: Bearish Cable plunged last week, reaching the low of 1.2088 on October 11. Price then consolidated till the end of the week. The bias on the market is bearish in the short and long-terms, and thus, it is logical to anticipate another bearish journey once this consolidation ends. This does not rule out a possibility of a rally, which cannot be significant enough to threaten the current bearish bias. The movements on GBP pairs this week would not be as strong as the movements that would be witnessed next week. USDJPY Dominant bias: Bullish This market has managed to maintain its bullish stance; as price continued to trudge northwards. The supply level at 104.50 has been tested and it would be tested again. Some bearish forces would attract the current short-term uptrend, but unless USD itself experiences loss in stamina, the bias would not turn bearish. The bullish outlook would remain as long as price does not breach the demand level at 102.00 to the downside. EURJPY Dominant bias: Bearish EURJPY has not moved significantly in the short-term, though a closer look at the market reveals that bears have upper hands over bulls. As long as EUR is somewhat weak, price may face some difficulties in going up. Price is currently below the supply zone at 114.50, and it may test the demand zones at 114.00 and 113.50 this week. On the other hand, a movement above the supply zone at 116.00 would result in a clear bullish signal. This forecast is concluded with the quote below: “My belief is that the markets are a very friendly place. Whatever you want in life, the markets will find a way to give it to you. I’m not being facetious here.” – Dr. Van K. Tharp Copyright: Tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral This pair remains neutral in spite of strong volatility witnessed on other pairs and crosses last week. Price simply went below the support line at 1.1150 and then moved towards the resistance line at 1.1200, closing at 1.1200. The neutral bias would persist for some time, but a strong momentum is expected soon. Price needs to go above the resistance line at 1.1350, or below the support line at 1.1050, before it could be said that the neutral bias is over. This week, the most probable direction for EURUSD and some other few EUR pairs, is downwards. USDCHF Dominant bias: Bullish This currency trading instrument is neutral in the long term, but bullish in the short-term. Price went upward on Monday and Tuesday, nosedived on Wednesday, and went upwards again on Thursday and got corrected again on Friday. While it is possible for this instrument to go further upwards, the movement would be limited, because it is unlikely that price would be able to go above the resistance level at 0.9900. GBPUSD Dominant bias: Bearish There is a strong Bearish Confirmation Pattern on GBPUSD market, and most other GBP pairs. As it was predicted last week, price dropped sharply by 880 pips, reaching a low of 1.2031. This is a persistent bearish trend. After that, price bounced back by 420 pips, to close at 1.2421. What next? Well, the forecast for this week is that, GBPUSD would be bullish (which is also true of a few other GBP pairs). Price would go visibly upwards this week, but that would not be significant enough to override the currently long-term bearish outlook on the market. USDJPY Dominant bias: Bullish As it was anticipated, USDJPY broke upwards last week, ending the recent equilibrium phase in the market. Price shot skywards by 280 pips, testing the supply level at 104.00 and the getting corrected by 100 pips. Price closed below the supply level at 103.00 on Friday, and that could be a good opportunity to seek long trades when things are on sale, and in the context of an uptrend. The outlook on JPY pairs remain bullish for this week, so price could go upwards again by at last, 150 pips this week. EURJPY Dominant bias: Bullish Just like USDJPY, EURJPY went upwards seriously last week, testing the supply zone at 116.00 pips, before getting corrected by 90 pips. There is a Bullish Confirmation Pattern on the market, and further upwards movement could happen this week, thereby ending the current bearish correction. From the current locating, price may go towards the supply zones at 115.50, 116.00, and 116.50. This forecast is concluded with the quote below: “I learned that the market truly is your greatest teacher and that trading is a skill you must nurture and develop. The more time you spend in the market, the better you are able to understand market movements.” - Michael Patak Copyright: Tallinex.com

AUS200 Dominant bias: Bullish AUS200 started September on a bearish note, but ended it on a bullish note. From September 1 to 13, the market dipped by 2500 points from. Since then, the market has rallied by 3300 point till date. There are Bullish Confirmation Patterns in the 4-hour and daily charts, which reveal that further northward movement is possible. Next targets are the resistance lines at 5550.0, 5650.00 and 5750.0 this month. SPX500 Dominant bias: Neutral SPX500 moved sideways last month – and the bias on both the 4-hour and the daily charts is neutral. Price moved sideways in the first few days of September, and then dipped from September 9 – 11. After this, price became quite volatile and ended up consolidating till the end of the month. The neutrality of the bias is supposed to continue this month until “something’ pushes the market out of balance. The most probable direction is to the south, for the bullish trend has reached maturity. US30 Dominant bias: Neutral The situation surrounding this market is quite similar to the situation surround the SPX500. Price moved sideways in the first few days of September, and the dipped from September 9 – 11. After this, the market was riddled with high volatility and eventually moved sideways till the end of the month. This neutral outlook may continue this month until the market starts trending seriously, which would cause a directional bias to form. The most probable direction is towards the south. GER30 Dominant bias: Bullish In spite of a serious volatility on this trading instrument, there remains a bullish indication on it. Bulls have succeeded in preventing large pullbacks in the market; plus there is a Bullish Confirmation Pattern in the daily chart. The instrument may thus attain the supply levels at 10650.0, 10750.0 and 10850.0 in the month of October. The demand levels at 10180.0 and 10150.0 should resist any bearish attempts along the way. FRA40 Dominant bias: Bullish FRA40 experienced extreme volatility in September 2016, which was characterized by large upswings and downswings. In spite of this, the bias on the market is bullish (though in a precarious situation). Price needs to move further upwards by at least, 1000 points, in order to showcase stronger bullishness. For this, bulls would be willing to target the supply zones at 4550.0, 4650.0 and 4750.0 this month. Copyright: Tallinex.com

GOLD (XAUUSD) Dominant Bias: Bearish Gold is bearish in the short-term, but neutral in the long-term. In the 4-hour chart, price trended downwards last week, to end September 2016 on a bearish note. Further bearish movement is anticipated this month, which would make price reach the support levels at 1298.00 and 1280.00 and 1270.00. This would make the bias on the daily chart to turn from neutral to bearish. On the other side, a serious rally may enable price to go above the resistance levels at 1330.00, 1350.00 and 1400.00, which may cause a Bullish Confirmation Pattern in the chart. SILVER (XAGUSD) Dominant: Bearish Just like Gold, Silver is bearish in the short-term and neutral in the long-term. Price is volatile and there would be further struggle between the bull and the bear before price starts trending seriously, which could most probably be in favor of the bear. The bear may target the demand levels at 18.7000, 18.2000 and 17.5000 in October, which would also result in a Bearish Confirmation Pattern in the daily chart. This expectation would be rational as long as price does not go above the supply levels at 19.9000, 20.5000 and 21.0000. This month, Silver is expected to trend more strongly than it did in September. BITCOIN (BTCUSD) Dominant Bias: Neutral Bitcoin remained a flat market throughout September 2016, save the bearish breakout that occurred at the beginning of this month, which turned out to be a false breakout. This flat movement is expected to continue this month, and the only thing that could force the market to go out of balance is an unexpected or extremely strong fundament factor. The outcome would be simple, very bad news would result in massive sell-offs, while very good news would result in a serious rally. A strong movement to the south would be contained at the accumulation territory at 509.00 (the low of August 2016); and a movement to the north may not go above the distribution territory at 775.92 (the high of June 2016). Copyright: Tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral This pair did not do anything significantly last week, save moving briefly above the resistance line at 1.1250 and testing the support line at 1.1150. The bias has become neutral in the short and long terms, and this is supposed to continue until price goes out balance, which should happen before the end of the week or next. The outlook on EUR pairs is bearish for the month of October (except in a few cases), therefore, EURUSD could be seen going lower in the month. USDCHF Dominant bias: Bearish This currency trading instrument is bearish in the short-term, but neutral in the long-term. Bulls made visible effort to push the instrument upwards but bears did not allow this to happen. Although the outlook is bearish in the short-term, price did nothing more than testing the resistance level at 0.9750 and support level at 0.9650. There should be a rise in momentum this week, and USDCHF would rally only when EURUSD falls sharply. GBPUSD Dominant bias: Bearish GBPUSD is bearish in the long and short terms. Price simply moved sideways last week, although Bearish Confirmation Patterns are still visible in the 4-hour and daily charts. Further bearish movement is anticipated this week, which should drive price towards the accumulation territories at 1.2900, 1.2850 and 1.2800. Rallies in this market would invariably turn out to be traps for bulls; and of course, good short-selling opportunities. The accumulation territory at 1.2950 is currently doing a good job preventing further downside move: though it could give way very soon. In the month of October, the outlook on GBP pairs is strongly bearish, and large downside movements would be witnessed, except in a few cases. USDJPY Dominant bias: Neutral USDJPY is neutral in the short-term. In fact, the overall condition on the market has been a kind of consolidation throughout September 2016. Further sideways movement would result in a neutral bias in the long-term as well, but there is a high possibility that price may start trending seriously before the end of this week, which could result in a bearish or bullish signal forming in the 4-hour chart. EURJPY Dominant bias: Neutral The condition on EURJPY is quite similar to the condition surrounding USDJPY. Price consolidated between the demand zone at 112.50 and the supply zone at 114.00, throughout last week. This week, a rise in momentum is expected which would take price above the aforementioned supply zone, or below the demand zone, resulting in a bearish or bullish bearish in the short-term. This forecast is concluded with the quote below: “I am now doing things I have a passion for and am full time trading.” – Stefan Carling Copyright: Tallinex.com

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 18 “Get no joy, except a superficial joy, out of winning. Get no sadness, except a superficial sadness, out of losing. Get to the point where it must almost be an act on your part to be joyful or to be sad - and not the opposite, as it is with most traders. Always remember that your joy and sadness come from and with the most meaningful aspects of your life - family, friends, acts of giving and loving and creating. Not trading.” – Andy Jordan (Source: Tradingeducators.com) Name: Marc Lasry Nationality: Moroccan, American Age: 56 Occupation: Investor, fund manager, co-owner of Milwaukee Bucks HE EARNED AN INCOME OF $280 MILLION IN 2013 Marc was born in Morocco. His family moved to the U.S. when he was 7 years old. His dad was a computer programmer and his mom was a teacher. He got his B.A from Clark University in 1981; plus a J.D. from New York Law School in 1984. He worked as a clerk while in law school. He then worked at Angel & Frankel, following his graduation. In 1989, he and his sister, Sonia Gardner, founded Amroc Investments. Amroc Investments was founded with $100 million, purchasing and trading claims and bank debt held by vendors of bankrupt and/or distressed companies. In 1995, they founded Avenue Capital Group, investing $7 million of their own capital. His sister had often worked with him. Their hedge fund grew to be as much as $11 billion in AUM. Marc was ranked one of the 25 highest-earning hedge fund managers in 2013, with total earnings of $280 million. He became a co-owner of the NBA's Milwaukee Bucks after purchasing the team from Herb Kohl for $550 million. That was April 2014. Marc lives in New York, USA. Being a generous giver, he’s donated to science, education and politics. He’s a lover of basketball, tennis and comics. As of September 2015, he was worth $1.9 billion. He’s married to Cathy Cohen – they got 5 children. What You Need to Know: 1. Marc was blessed to have a sister who supported him and worked along with him. Concerning this, Marc revealed that he with his sister Sonia Gardner, was a forerunner to Avenue Capital Group. It was just the two of them and a secretary when they started – they were both working 14-hour days, 7 days a week. They slowly built one of the largest private distressed debt brokerage firms that existed at the time, and expanded Amroc to more than 50 employees. At the same time, for five years, they also ran their own money, just his sister and him. What can you learn here? I became a trader because my uncle called me many years ago, asking me to go learn trading because it was popular then. Today, I’m grateful that he advised me to do this. Sometimes, a piece of advice may be worth more than millions of dollars. 2. When you work with, or along with professionals, your life is easier. For example, Elon Musk surrounds himself with professionals and that’s one of the reasons why he appears to know much. Surround yourself with professionals, even work with them, and the results would be satisfactory. Marc met exceptionally smart guys at Bass: David Bonderman, Jim Coulter, Tom Barrack, and many others. It was a phenomenal period, and he quickly realized he was dealing with guys who were off-the-wall smart and really good guys – nice, smart people. 3. Marc looks at himself as a value investor. Trying to constantly find mispriced investments and add value in a situation. For him, investing means having conviction in your work and companies where you invest, even when the Street has written them off. 4. There’s no need to be concerned about how good a setup is, but we want to be concerned about how we can be protected in case things go wrong. 5. Good traders make profits because they view trading, price, etc. differently than what most people see. When the market reacts in panic, the public know. However, good traders analyze the scenario, assess the pitfalls and take actions. 6. No-one is too big to fail. No trader can avoid losses. No-one is immune from risk. Everybody can make it in life. 7. When you leave what you think is the best job for you, you might discover trading to be better. You won’t regret being a trader. 8. Marc says, “We are constantly searching, trying to find value, typically in troubled companies. And then we try to buy those assets at a discount. In contrast, most investors try to find companies that have no problems. And, when companies have problems, people get nervous. We look at the world very differently than most investors.” Conclusion: There are many advanced traders who focus on the process of trading instead of money. They approach trading as if approaching sports (and like martial arts). They know they should approach trading as experts tackle opponents in matches. We tend to think illogically when we trade, which isn’t a normal mindset for traders. This article is ended with another quote from Marc: “People think we got to $20 billion overnight, but it wasn’t as easy as it seems. We had the background. We had good returns. We had the infrastructure, and we had good people. And, importantly, we had high-quality, stable, long-term investors that allowed us to raise money in a difficult fundraising environment. We were also lucky that we were in the right place at the right time.” Copyright: Tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish EURUSD is bullish in the short-term, but neutral in the long-term. Against the volatility contraction in the higher time-frames, bulls managed to push price above the support line 1.1200. The next targets are around the resistance lines at 1.1250 and 1.1300, which would require strong buying pressure to be breached to the upside. The support lines at 1.1150 and 1.1100 would act as barriers to bearish attempts along the way. USDCHF Dominant bias: Bearish This market is bearish in the short-term, but neutral in the long-term. Despite low volatility in the higher time-horizons, bears managed to push price below the resistance level at 0.9750, now close to the support level at 0.9700. The targets for this week are around the support levels at 0.9650 and 0.9600, which would require strong selling pressure to be breached to the downside. The resistance levels at 0.9750 and 0.9700 would act as barriers to bullish attempts along the way. GBPUSD Dominant bias: Bearish The dominant bias on GBPUSD is bearish. As it was mentioned in the last weekly forecast, price went down last week in spite of desperate opposition from bulls, who left their traces in the market. Short trades are not logical in this market because of the current price action, and because the outlook on GBP pairs remains bearish for this week. Thus, the accumulation territories at 0.2900, 0.2850 and 0.2800 could be tested before or by Friday. USDJPY Dominant bias: Bearish This instrument consolidated in the first few days of last week, dropped in the middle of the week and experienced a slight upwards correction around the end of the week. There is a Bearish Confirmation Pattern in 4-hour and daily charts, which signal further bearish movement. The demand levels at 100.50 and 100.00 could be tried this week. The bearish bias would hold out until the supply level at 104.00 is overcome – something that may not happen soon. EURJPY Dominant bias: Bearish This cross pair dropped significantly last week, moving briefly below the demand zone at 112.50 before the recent bullish effort in the context of a downtrend. The bullish effort could be seen as another opportunity to sell short at slightly higher prices (since the outlook on the cross pair is bearish). The demand zones at 113.00, 112.50 and 112.00 could be tried this week or next. The only thing that can overturn the current bearish outlook is a 300-pip movement to the upside. This forecast is concluded with the quote below: “I read charts like some people read the newspaper. My world revolves quite a bit around what I see on the charts.” – Joe Ross Copyright: Tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair went upwards last week, testing the resistance line at 1.1300 and then getting corrected downwards. The bullish bias remains valid, though it looks like an unclear thing. Therefore, the pair is expected to trend further higher this week (for EUR would gain more stamina while USD would be weakened further), re-testing the resistance line at 1.1300, breaking it to the upside and heading towards another resistance line at 1.1350. Some EUR pairs have already started journeying upwards. USDCHF Dominant bias: Neutral There is yet no clear outlook on USDCHF, as price simply swung downwards and then upwards last week. There is going to be a directional movement this week, which would most probably be downwards. EURUSD could trend upwards (owing to an expected stamina in EUR), causing USDCHF to pull back. Other factors contributing to this are the coming further weakness in USD and a possibility of CHF strengthening (please watch CHF pairs). Bears would thus target the support levels at 0.9700, 0.9650 and 0.9600 this week. GBPUSD Dominant bias: Bearish GBPUSD is bearish in the long-term, though bulls are fighting against all odds, to effect a meaningful rally. Price moved upwards 140 pips in the first few days of the week and started coming downwards from Wednesday. A movement below the accumulation territory at 1.3100 would cause a very strong Bearish Confirmation Pattern to form in the market. On the other hand, a movement above the distribution territory at 1.3450 would result in a near-term bullish outlook. USDJPY Dominant bias: Bearish Last week, this market trended southwards by 260 pips, moving briefly below the demand level at 101.50, before starting a 170-pip rally. The supply level at 103.00 has been tested during the rally attempt. Further upwards movement is possible this week, which could bring an end to the current bearish outlook. In case this happens, the supply levels at 103.50 and 104.00 might be reached. EURJPY Dominant bias: Bullish This currency trading instrument is bullish in the short-term and bearish in the long term. Bearish effort was rendered useless last week, as bulls came in to push price from the demand zone at 114.00 towards the supply zone at 115.50, thereby rendering useless the 200-pip pullback that was witnessed from Monday to Wednesday. Bulls would continue to push price upwards, owing to expectation of further weakness in the Yen. The outlook on JPY pairs is bullish for the week. This forecast is concluded with the quote below: “Success in the long run for me is defined as consistently positive returns with a consistency for never losing too much money when things go wrong. For those starting out I think it is very important to develop a trading strategy that will stand a very good chance in working through all business cycles. The world looks very different now to what it looked like in 2006, 1999, 1991, 1982 and is forever changing. Trading strategies that depend on a certain market environment will always get found out when the market environment changes. As a trader you want to be trading from now till the day you drop dead.” Anton Kreil (Source: Traders-mag.com) Copyright: Tallinex.com