Archive for 'Forex Signals'
Posted on 10. Nov, 2012 by Jakob.
Although MetaQuotes recently announced that they will enable their new service Trading Signals on the MT4 terminal, the leader in terms of social trading / trade following is still, without a doubt, ZuluTrade. They have been around since the beginning of social trading and they have done an amazing job with the site. Following traders or providing your own signals is very easy and can be a lucrative business.
Now ZuluTrade has had more or less the same design since inception, and now it finally seems like they are ready to change things for the better. When you visit ZuluTrade today, you will still see the same old design, but if you look in the left side of the screen, you will see a tab which will take you to the new design go ZuluTrade.
Needless to say that we love the new design. Its a mixture of web 2.0 style clearly with inspiration from Apples web design. Clean and easy on the eye. The core business is completely the same, but the site looks new and fresh. Although it shouldn’t really matter too much, how the site is designed, it actually does; and ZuluTrade has done an amazing job this time! The site looks awesome!
If you haven’t signed up over at ZuluTrade, you are missing out. Head over there now and see the new design and get yourself a free account.
Posted on 06. Nov, 2012 by Jakob.
A couple of days ago, MetaQuotes announced the feature Trading Signals is coming for the MT4 terminal. This was initially offered for the new MT5 terminal, but now MetaQuotes decided to offer this for all MT4 users as well. This is great news for the majority of retail trades, as MT4 simply is the most used trading platform out there. Users of MT4, both the ones looking to sell and the ones to buy signals, will instantly benefit from a network effect, as a result of the huge user base executing trades on the MT4 platform.
Trading Signals from MetaQuotes will allow MT4 users to copy and share trades through cloud signal server, hosted by MetaQuotes.
Posted on 31. Oct, 2012 by Chad.
We often get emails asking why the market makes unexplained moves like what we saw yesterday on the EUR/USD and even more so with the Yen crosses. The BOJ increased its print fest substantially and in a normal world that would make the Yen weaken. That was not the case yesterday. It did eventually weaken back to the pre release levels but that is still not what we would expect with the substantial increase in QE from the BOJ. The only other consideration is that the market expected a much bigger increase.
Posted on 30. Oct, 2012 by Chad.
The markets were a little subdued yesterday as expected with the US closed for the hurricane. As I look at the price action on the EUR/USD I see that it has gone into a potential chop scenario leaving direction somewhat in question. I do still have a bearish bias but wont totally disregard the potential for a long today. However if we do get the hourly close below the lows from Friday last week then I will only be looking to short. Any long position will only be off a clear 1 hour stop run to yesterday’s lows.
Posted on 29. Oct, 2012 by Chad.
The price action on the EUR/USD last Friday confirms for me that the move up Thursday was a false push. Therefore we should be seeing the second push down today. I will be keeping in mind that these are extended levels. When we see these extended moves the probability is that we will continue with the technical trend. Having seen the false push up shows that the smart money was pushing traders out of short positions as they load up on them and we have a good chance for another full 3 pushes down. Having seen one already.
Posted on 26. Oct, 2012 by Chad.
Today on the EUR/USD we see that we never got the reversal and now has more than likely finished a false push to the upside. We also have a 90+ pip push to the downside that does add to the probability of the false push up. Being Friday we may not see the confirmation of the false push with an hourly candle close below Wednesdays lows. However with the risk off tone across the markets there is the possibility.
Posted on 25. Oct, 2012 by Chad.
Today looking at the EUR/USD it definitely made a good attempt at the third push. Running for 78 pips. At this point I am inclined to think we will be seeing the reversal today. However this triangle it went into after the push down does have me concerned that we might just stay in this chop for awhile. Having said that my bias will be slightly to the long position today but I will be open for the short. It will mostly depend on the price action we see during the Asian session. Once we get an hourly candle to close above or below the chop during the US session yesterday direction will be more clear. I will also be keeping in mind that these are not that much of significant levels other than they are where the US market held price. My preferred area for the long will be the lows of 1.2920 but with some clear manipulation at the US session lows at 1.2939 the trade will be higher risk so I will need a clean set up.
Posted on 24. Oct, 2012 by Chad.
We have seen the second push on the EUR/USD we were expecting for Mondays commentary. Even though there were the three intra-day pushes down they were all together only 124 pips. My thoughts that this was just the first push of a larger three push down and now we finally got the second. Today I will only be considering the short expecting the third. Since this larger move is taking more time than a normal weekly cycle we look for there is the chance that we see the chop for a day again as the smart money tries to push out any weak holders of short positions.
Posted on 23. Oct, 2012 by Chad.
Today the EUR/USD has gone into a third push chop staying in a 65 pip range for the last two trading days so direction is not as clear as we would like it to be. The resistance from Fridays highs holding during the US session does give me a slight bias to the downside but at this point its best to keep an open mind.
Posted on 22. Oct, 2012 by Chad.
Today as I look at the price action on the EUR/USD it seems that its is showing a clear 3 pushes to the downside. This is true but the entire move is only 124 pips so I am more inclined to think its the first push of a larger move coming up this week. The way I will be looking to trade this pair today will be if the lows here at the hourly 200ema hold during the Asian session then the potential for a long position is good. If I do take the long then I wont be holding for more than 50 pips as I do still expect another push to the downside eventually. Having said that its fine to take trades against a first push since the potential for a deeper pullback is there before it moves off.