Thursday, October 30, 2014


USD/JPY has moved upwards on Thursday, as the US dollar has posted broad gains following the FOMC policy statement on Wednesday. In the European session, the pair is trading just above the 109 line. On the release front, there are two major US events -GDP and Unemployment Claims. Both indicators are expected to post strong figures, so we could see the dollar post gains in the North American session. As well, Federal Reserve Chair Janet Yellen will address an event in Washington. In Japan, today’s highlights are Tokyo CPI and Household Spending.
USD/JPY posted gains in the Asian session. The pair is choppy in the European session.
109.82 is the next resistance line.
108.58 has reverted to a support line after the yen lost ground on Wednesday. 107.68 is next.
Current range: 108.58 to 109.82
USD/JPY ratio is pointing to gains in short positions on Thursday, continuing the direction seen a day earlier. This is not consistent with the pair’s movement, as the dollar continues to post gains. The ratio has a majority of long positions, indicative of trader bias towards the dollar moving higher.

Wednesday, October 29, 2014


 USD/CHF  Daily
13::20 GMT - Flat trade continues after low at 0.9443 Tues. However, westill see risk to the downside with next minor sup.  around 0.9420    while the more important level is at 0.9396. Bounce off Tues low was limited to 0.9480 and this is first res. for the     balance of the day.  N.I.
R5: 0.9574 * 13 Oct high
R4: 0.9558/63  15/23 Oct high
R3: 0.9520/25  intraday level
R2: 0.9511  Tues high
R1: 0.9480  intraday level
S1: 0.9443  Tues low
S2: 0.9420  intraday level
S3: 0.9396  16 Oct low
S4: 0.9358 * 15 Oct low

Tuesday, October 28, 2014

dollar slid lower against the yen

The dollar slid lower against the yen and the euro Tuesday after a measure of U.S. manufacturing fell for a second consecutive month, suggesting growth may be slower in the third quarter and interest rates may stay lower for longer.
The dollar fell to JPY107.78 from JPY108.12 ahead of the data, trading flat early in the Americas session. The euro rose to $1.2752, from $1.2710 beforehand, up 0.4% on the day.
Purchases of durable goods slid 1.3% in September from one month earlier to $241.63 billion, the second straight drop, the Commerce Department said. Economists predicted orders would rise by 0.7% in September.
The dollar's moves on second-tier data reflects the market's nervousness about the health of the U.S. economy and its effects on interest rates. Investors had been buying the U.S. currency in preparation for higher interest rates, which would boost yields on dollar-denominated assets. With the Federal Reserve meeting this week, investors are less certain.

Monday, October 27, 2014


 USD/JPY  Daily
13::00 GMT - Slow trade back this am. has covered Fri.'s range/ tests  Fri.'s low, with the USD not far off 107.50/ recent highs & a test of the bullish separation after Oct's big 105.50 test. Assuming the USD holds this 107.50/ 108.00 area s/t, next upsideis to 109.00/ back to the mid-Oct selling break.  [NR]
R5: 110.00-08 ** 1-Oct excs YTD high
R4: 109.90   3-Oct high
R3: 109.25   7-Oct high
R2: 108.75   8-Oct high
R1: 108.35~ * fr 23-Oct highs
S1: 107.40~   mid-Oct highs
S2: 106.75   22_Oct low
S3: 106.22   21-Oct low
S4: 105.45 * Jan high
S5: 105.20 * 15-Oct low

Thursday, October 23, 2014

USD/JPY trades in the high-107-range

The US dollar has posted gains on Thursday, as USD/JPY trades in the high-107-range in the European session. The dollar has resumed its winning ways, gaining close to 200 points in the past week against the sagging yen. On the release front, Japanese Flash Manufacturing PMI climbed to 52.8 points.  In the US, Unemployment Claims rose to 284 thousand, much higher than the previous reading of 264 thousand. However, the four-week average, which is less volatile than the weekly release, dipped to 281,000, a 14-year low.
USD/JPY was flat in the Asian session but has posted strong gains in European trade, breaking above resistance at 107.68.
107.68 has reverted to a support level as the dollar shows strong gains. 106.85 is stronger.
108.58 is the next resistance line.
Current range: 107.68 to 108.58
USD/JPY ratio is showing gains in long positions on Thursday, continuing the trend seen a day earlier. This is consistent with the pair’s movement, as the dollar has posted strong gains. The ratio has a majority of long positions, indicative of trader bias towards the dollar continuing to move higher.

Wednesday, October 22, 2014

Stock trading book

As a frequent contributor to Futures Magazine, MoneyMorning, Traders Advantage and other top financial publications, I know from experience that stock trading offers enormous profit potential for traders if you have the right tools for success. But, each year, millions of aspiring stock traders still come to the stock market but still fail to achieve any meaningful success despite being armed with the latest indicators or some expensive stock trading system. There are two main reasons: One, they lack a proper foundation in the study of price action and, two, they lack a method to show them where to find trading opportunities and when to pull the trigger. Price action is the language of the market that is spoken to you each day through price charts and, if you understand what its trying to tell you, then you'll never lack for low-risk trades again. But, you also have to have a stock trading method that provides a set of rules to show you when a trade is setting up with the least amount of risk combined with the highest probability of success. Without understanding either of these concepts, you're chances are slim that you'll succeed. But, if you have the patience, drive, and discipline to apply a few simple rules along with sound fundamental and technical analysis, then the odds are on your side that you'll succeed. In Simple Stock Trading Formulas, you'll read about the role of both the stock exchanges and stocks themselves so that you understand how the game is played. Next, you'll learn how to "look under the hood" to find fundamentally sound stocks that have the highest chance of becoming a high-performer, avoiding the stagnant, lifeless stocks that are going nowhere. Then, you'll get to the meat of the book and get a in-depth breakdown on technical tools, price patterns, how to spot compelling technical criteria, mindset, and a set of rules-based stock trading strategies that work in any market condition. You'll also learn: • The nature of the market and how to use it to profit. • What stocks are and what is their purpose? • Why volatility frightens the majority of traders but how you can profit from it. • The dual relationship of price and volume. • What roles do stock exchanges play? • What key indicators to use to get into the market (and when to stay out). • The best price patterns to trade for consistent winners. • How to spot market reversals and how to profit from them. • What warning signs to watch for so that you don't get wiped out financially. • What 3 indicators form an unbeatable winning formula for trading. • How to use "Big Daddy" to always be on the right side of the trend. • What the only two types of price action are and how to profit with them. • How to spot turns in the market and how to use them to time your entries. • 7 step-by-step trading formulas to find winning trades in any market type. • Fundamental and technical formulas to rack up above-average returns.
Excellent stock trading books

RSI trading chart indicator

Sometime there as a problem with using the RSI in this manner is that in a strong uptrend the RSI will typically use forty as a support level.  And when price is in a strong downtrend, the RSI will use sixty as a resistance level.  many traders talk about using the RSI with those new parameters to identify some of those opportunities as they approach supply and demand levels. This is a good time to go long or short in a stock trade.
The best information traders can take from this is to understand there are more then one way to think trading the stock markets. Traders can keep an look on the news and normal trend analysis and sell near the low and buy near the high at support and resistance. Traders can watch the reality of how they make money buying and selling stocks.  Traders need to learn how to trade. many times you would start to think different because we all want to buy at low prices and sell at retail prices in every part of your trading. That is actually  how you need to think about the trading markets because the truth is, there is no difference between the proper buying and selling action you take when trading and the proper buying and selling action you take when buying and selling most of the different stocks.
RSI trading chart indicator