Tag: Forex

10,000 Ft View – 4 Hr Chart

Zooming In

There are a couple of things I like about this trade set-up. The 4 hr supply zone at 1.52000 is nestled between two daily supply zones. A zone on zone is called a level on level and very powerful the higher the time frame. The other thing I like about the set-up was the price arrival…very fast which is actually an odds enhancer.

However, I was stopped out of the trade several hours later by one tick. This is starting to become a common theme. I will considering using 2% of the

George Soros became one of the most famous currency traders in the world based on his bet against the Bank of England in 1992 on what became known as Black Wednesday, where he made over $1 billion on the trade.

In the months leading up to Black Wednesday, George Soros had been building a huge short position in pounds sterling. He recognized the United Kingdom was at a disadvantage when Britain joined the ERM, believing the rate at which the UK was brought into the Exchange Rate Mechanism was too high.

Black Wednesday occurred in the United Kingdom in September of 1992,

10,000 Ft View – 4 Hr Chart

Zooming In

The zone isn’t fresh, meaning price was once at the level before (yellow circle) where sellers sold price before, thus there might be unfilled sell orders left or no more unfilled sell orders. But despite the level not being fresh, the level is high on the curve, so price is not longer at discount prices and is in the upper quadrant of the curve or range.

NOTE: trade was stopped out on the morning of 2/27…as the British Pound has been on a tear the past two days.

My One Year

The Brexit saga continues. Prime Minister Theresa May said that if no deal is agreed and if a no-deal exit is rejected, then there could be a short extension to the date for Britain to leave the EU. On that news, the British Pound hit a high against the Euro not seen since May of 2017. And on that news, I decided to buy the EUR/GBP.

Monthly Chart (Curve Timeframe) – Monthly demand is at 0.83500 and monthly supply is at 0.94000

Weekly Chart (Trend Timeframe) – the trend is sideways and has been sideways for the past 18

10,000 Ft View – 4 Hr Chart

Zooming In

What I like about the 4 hr demand zone is it’s embedded within a daily demand in which buyers stepped in at the whole number of 1.3100 and prices rocketed to daily supply at 1.3360 before return to the origin of the strong move.

I really must give my trades more of an opportunity to work out, as I’m risking only 10 pips and could have easily been stopped out. However, on the flip side, it means that my Reward to Risk are extremely high…if I can withstand the many stop

10,000 Ft View – 4 Hr Chart

Zooming In

What I love about this trade set-up is price has been making higher highers and higher lows.

And the zone I selected, price took out the two pivot highs to the left.

Last night I was stopped out by a tick…probably the spread took me out, before price reversed and eventually moved higher. The below chart shows the price action on the 1 min chart.

This post is my personal
opinion. I’m not a financial advisor, this isn’t financial advise. Do your own
research before making investment decisions.

10,000 Ft View – 4 Hr Chart

Zooming In

I’m not in love with the set-up 100% because it’s in the middle of the range.

But what I love about the set-up was the strong move price made to the supply zone. In addition, price has moved over 150 pips. Potentially the buyers are exhausted and or taking profits and the sellers are stepping in with room for price to fall to the origin of the strong move.

This post is my personal opinion. I’m not a financial
advisor, this isn’t financial advise. Do your own research before making
investment decisions.

Singapore’s trade sector began 2019 on a whimper with non-oil domestic exports (Nodx) for January sliding a worse-than-expected 10.1%per cent from a year ago .

This was the biggest contraction in over two years since exports slumped 12 per cent in October 2016.  Analysts polled by Bloomberg were expecting a 3.5 per cent decline, given the high base effect of January 2018 when exports rose 13 per cent.

The drop in January 2019 was also the third straight month of decline after a 8.5 per cent year-on-year fall in December last year and 2.8 per cent decrease in November,  Enterprise Singapore figures released on Monday (Feb 18) show.

Source

Lets

EUR/SEK is the abbreviation for the Euro and Sweden Krone pair. It shows how much the EUR (base currency) is worth as measured against the SEK (counter currency). For example, EUR/SEK = 10.5400 indicates that one Euro can buy 10.5400 Sweden Krones.

Although Sweden is in the
Euro-Zone and is required to adopt the Euro currency a loophole has allowed the
nation to maintain its 230 year old krona (crown). The EUR/SEK has been in a 6-week
rally since late-December lows in the 10.1200 region. 

Last week, SEK saw
further downside pressure after the domestic Services PMI dropped to 54.1
during the first month of the