Trading Forex – 1.3270 Holds for Now
Posted on 19. Mar, 2012 by Jakob.
EUR/USD continued to move higher throughout the day, giving us a daily high of 1.3270 so far. This is a key level when looking both at the 4-Hour chart as well as the daily chart. We have no more news coming up today, and with the recent massive move to the upside, I think this level is very likely to hold as resistance for the rest of the day. We are likely to see a possible re-test of the level and maybe a small break to the upside, but I don´t think we will see any major followthrough for the rest of the day. Hence I think there might be a good reason to look for a possible short trade, followed by a long trade at a re-test of the 10 and 21 EMA.
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Trading Forex – EUR/USD and LTRO
Posted on 29. Feb, 2012 by Jakob.
In recent weeks we have seen a rally on EUR/USD of close to 900 pips in total. The pair currently trades around the 1.3470 level. Usually I would wait for pullbacks and trade in the direction of the trend at a test of the dynamic support in-between the 10 and 21 EMA. Today might be slightly different thought. With today’s upcoming LTRO we could see some very volatile moves in the market, and there could be good reasons to look for possible short trades on EUR/USD
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AvaFx – Increased Rebate and Promotion
Posted on 10. Feb, 2012 by Jakob.
AvaFx, a well-known forex broker is newly licensed by the Australian Securities & Investments Commission (ASIC) and also licensed in the European Union and Japan. AvaFx offers: multiple platforms including: MT4, AvaTrader, Mobile Trading and Mirror Trader; Leverage up to 400:1; there are fast account openings and easy deposit methods.
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GBP/USD Breaking the Neckline
Posted on 10. Feb, 2012 by Jakob.
Cable has been trading in a strong bullish trend almost for a month now. The bullish trend has been trading higher in a fairly tight channel, which was broken yesterday indicating possible downside. In addition to this, the pair crossed the two EMA´s I monitor on the 4-Hour chart, which give us another indication. Another thing to note on the 4-Hour time frame, is the skewed head and shoulder formation, where the neckline just got broken to the downside as well.
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FXCM – Instant Deposits and Tablet Trading
Posted on 09. Feb, 2012 by Jakob.
FXCM improved their credit card funding procedure so for most credit cards, deposits will be instantly available in your FXCM trading account. I am not surprised this is a priority for FXCM and I am sure lots of clients will be pleased, with the ability to instantly fund their account. This is a tendency we see across the board, where brokers do what they can to minimize the hassle of account creation and duration of funding approval.
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Plimus Discontinues Forex Related products
Posted on 09. Feb, 2012 by Jakob.
Plimus along with Clickbank are probably the two largest affiliate networks out there, and they have been merchants for thousands of forex related products and services. As you all know, new forex related products are released on a daily basis; EA´s, trade room services, ebooks, strategies, indicators, videos, etc.
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MyFxBook – Compare Broker Spreads
Posted on 08. Feb, 2012 by Jakob.
MyFxBook now allows you to compare broker spreads, in real time from several different brokers; a really neat feature which you can try right here. The list currently counts 37 different brokers and 53 different currency pairs, and I am sure this will be a real eye-opener for a lot of traders.
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PivotFarm – More PowerZone Levels
Posted on 08. Feb, 2012 by Jakob.
The PowerZone levels from PivotFarm is one of my favorite tools, when it comes to trading the forex market. The power zone levels are support and resistance based on confluence and it works perfectly. PivotFarm power zone levels along with a couple of EMA´s is the only thing I use on my charts.
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MyFxBook – Trading Contest
Posted on 21. Jan, 2012 by Jakob.
MyFxBook is once again, hosting a forex trading competition, where you can participate completely free of change and win a live funded account. The sponsor for this competition is Vantage FX, and the one who takes the first place will win a live account from Vantage FX with an account balance of $2,500, second place $1,000 and third place $500.
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FXCM – Improved MT4 Technology
Posted on 21. Jan, 2012 by Jakob.
FXCM, the world’s largest FX broker, have released a new version of MT4 with improved features. You can now trade micro lots (0.01 lots) which is a great addition for clients with a small account balance, as they will be in a better position to use proper risk management. Another feature with the lower lot sizes is the option to close orders partially. The new version of MT4 also allows you to set a Max Deviation when you enter trades; this basically allows you to control slippage on normal market orders, and because of this also enables you to place stop loss and take profit levels at the execution of the order. If you trade the news (spike trading), having this feature is of paramount importance. They have also added additional pairs to the platform, and most interestingly is the removal of the bridge software;
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