harmonictraderafrica

euro trade idea

naijafx — Wed, 15 Feb 2012 12:04:26 +0000

like to do that using the charts below with my explanation based on the tool of discussion FIBONACCI

EURUSD DAILY CHAR

http://screencast.com/t/RC3vgzx38zT

CHART INTERPRETATION: Trend is Bearish on daily time frame as it is making swing high and swing low under a bearish trendline. But looking at price action, price seems to want to either wants to

Rally to find higher bearish correction
a. dip to continue bearish move or

b. dip to find deeper bullish retracement for next rally

So having establish the possible scenario, we will drop down to lower time frames to find possible trading opportunities .

http://screencast.com/t/3JNr2MRy1QJt

CHART INTERPRETATION: Price is trending higher(bullish) on 4H time frame. If this is sustained, then we will assume, scenario 1 as established on daily; price trending higher to find deeper bearish correction. Price breaking the established high at 1.3319 will confirm that and traders will look forward to seeing euro trading bullish till 1.3800 next major resistance(supply level). Already, a bullish opportunity has been signalled on 4H time frame at the bullish trendline drawn cum support level. Buyers at this time will cover their open buy position because of a) the resistance level(minor) and b) the uncertainty in euro zone

Peradventure price fails, to satisfy the possible second scenario on daily. Then price will need to break the trendline on 4H time frame and deep lower, then focus will be at 1.3000

http://screencast.com/t/wfmtfE4yjp

CHART EXPLANATION:

Bullish gartley(advanced Fibonacci confluence) gave a bullish entry with the following technical confirmation

support/demand level
trendline bounce
Bullish engulfing reversal candle stick formation

Well, this could be either sustained or fails. But investors have taken partial profit and watching the market for the outcome of Greece debate.

Thanks

Fowope mike

http://screencast.com/t/3JNr2MRy1QJt

weekly review on USDJPY

naijafx — Sun, 08 Jan 2012 06:03:55 +0000

Good day traders

http://screencast.com/t/Kq3TsYVfBtqV

The link gives a viideo analysis on USDJPY

have a wonderful week

Trade opportunity emerging on NZDUSD

naijafx — Tue, 03 Jan 2012 15:52:04 +0000

EURAUD TRADE UPDATE

naijafx — Thu, 15 Dec 2011 15:03:44 +0000

Trade is up +70pips. i will recommend that half position be closed

bearish opportunity on EA

naijafx — Wed, 14 Dec 2011 17:13:34 +0000

trade opportunity for the week

naijafx — Sun, 11 Dec 2011 17:04:25 +0000

http://screencast.com/t/EQzDsXUTt

http://screencast.com/t/NlmAv4a3SnfL

http://screencast.com/t/fQ065nMPU

Please click on the link to view the videos

TRADE IDEA ON GOLD

naijafx — Mon, 05 Dec 2011 14:11:01 +0000

Gold is presenting possible nice short. The charts below speak volume about the possibilities

EURJPY TRADE IDEA

naijafx — Mon, 28 Nov 2011 11:46:50 +0000

Bearish Opportunity emering on EURAUD

naijafx — Wed, 23 Nov 2011 15:18:21 +0000

Hope price gets there

UCAD trade update

naijafx — Mon, 14 Nov 2011 14:18:34 +0000

Initial profit target 1.0190 filled for 80pips!