Weekly Forex Market Forecast video this week will be covering key levels for the Aud/Usd. The Aud/Usd has been taking a very long time to develop this trading bottom and last Sunday we had a nice gap up, last weeks gap was not one that I would fade since the market has been in a downtrend for several months, but was rather a buying opportunity.
Weekly Forex Market Forecast Video
Our Trend Continuation Strategy this week netted 200 pips with very few trades taken. I was not sure that I would be able to make my 200 pip goal this week, I had family visiting from out of town and had lots of projects to finish.
In the coming weeks I will be releasing more information on our Trend Continuation Strategy, the indicator set is almost done being programmed. Once the programming is completed I will be releasing more videos and will host another webinar showing the power of our trend continuation strategy.
Pay close attention in the video where I was stopped out of two of my Forex trades using our Trend Continuation Strategy and then placed trades again as soon as another signal was generated, in this case it was the very same bar that stopped us out. The point every trader should try to emulate is to take each signal that is generated and not to try and cherry pick signal that there strategy generates. The only way to let the probabilities work for you is to take each signal, there will be draw down periods, but your system should have a positive expectancy allowing profits to build up over time.
On Fridays trading session using our Trend Continuation strategy we netted 107 pips, if I had been scaling out on my trades my total would probably of been close to 200 pips on Friday alone. I am working on Putting more trades on during the Asian Trading session so that when we start our service we can place trades live from time to time.
Trend Continuation Strategy “200 Pips”
In last weeks Weekly Forex Market Forecast Video I was looking for the Aussie Dollar to bounce, the Aussie did get a little bounce off of the gap down last Sunday , but soon faded back down. This week I will be watching carefully at the open on Sunday to see if there is another gap that could provide a trading opportunity.
This weeks Weekly Forex Market Forecast video I will go over some of the key levels that I have been watching in the Aussie that I forgot to mention in last weeks Weekly Forex Market Forecast video. Keep in mind if the Dollar continues to gain strength the levels that I have plotted will most likely be broken and we will have to look lower for new confluence channels.
On Friday the Aussies close looks very bearish when looking at the 15 min chart, the Aussie has formed a bear flag pattern, so if the Aussie starts to push lower expect the Aussie to make fresh new lows.
Weekly Forex Market Forecast Video
Weekly Forex Forecast ” Forex Market Preview” February 24th – March 1st
Weekly Forex Forecast Forex Video last week we talked about the British Pound vs U.S. Dollar and how the currency pair (gbp/usd) was at one of our zones that we have been plotting for weeks. In the Previous Forex Market Preview Forex Video I said Macd showed how the bears were firm control still and if the British Pound was going to bounce We would need to see Price Action confirm this then look for Macd to form a divergence pattern or a bullish cross that would most likely take several trading days to take shape. Well As you can see the British Pound did not see any type of a bounce only further Declines this week and broke the 100% Fibonacci Retracement level.
The Price candlestick on Thursday was encouraging that price may want to bounce, but Friday Moody came out and downgraded England. Now we need to ask ourselves. Was this what caused price to decline so much over the past few weeks? Did big funds and traders have this information in advance? If this is the case we could see a bounce from theses levels. Price may even go lower than the Bullish Candlestick “hammer” from Thursday and could even be seen as a positive thing since most traders that went long would most likely have there stop loss order under Thursday Price candle and that level being broke may cause new short traders to enter the market only to have price reverse and cause max pain to both short and long traders.
Weekly Forex Forecast Euro vs U.S. Dollar
In the Weekly Forex Forecast Forex Video for the Euro I talk about the Euro and how it has formed a head and shoulder price pattern. If you remember from previous Weekly Forex Forecast Forex Videos we talked about an inverse head and shoulder pattern which indicates a bottoming pattern. Now currently we have a head and shoulders pattern off the highs indicating a top in the Euro. In the Weekly Forex Forecast video this week I have stated the levels we need to watch for the Euro. As I have stated in Previous Weekly Forex Forecast videos Price is king always wait for price to confirm a price level.
Weekly Forex Forecast Forex Video
Weekly Forex Forecast Yen Falls!!! (Forex Market Preview)
Weekly Forex Forecast (Forex Market Preview) we will be cover the Euro vs Yen as well as the British Pound vs U.S. Dollar. The G20 had there meeting and now we must wait to see what if anything comes of there meeting. I have read conflicting news stories about there stance on currency manipulation. If one of the stories I read is true it would match up with our chart that I will be showing in this weeks Weekly Forex Forecast ( Forex Market Preview) Forex Video.
Weekly Forex Forecast British Pound vs U.S. Dollar
Weekly Forex Forecast for the British Pound vs U.S. Dollar is a little bit of the same. The British Pound is at one of our lower confluence price channels, but Macd is failing to confirm that it wants to bounce from these levels just yet. Macd is still showing us that the bears are in full control and I expect that if the British Pound does want to bounce from these levels Macd will take a few days to start looking bullish. We have been calling these levels for several weeks in our Weekly Forex Forecast Forex Videos (Forex Market Preview). Before I take a trade this week in this Forex pair I MUST see Bullish Price action.
Weekly Forex Forecast Euro vs Yen
Weekly Forex Forecast for the Euro Yen, I believe may finally see a pullback. I have been thinking a pullback was coming for a few weeks now but the charts as well as some of the news stories coming out from the G20 meeting may be lining up together. The Euro Yen price chart has been on a huge run to the upside for the past few months a pullback would be normal. Looking at Macd, not only is it showing us that price is overbought, but that the momentum has swutched to slightly negative. I will be watching the 123.30 Price level area if that level is broken and we get a lower close I will be looking for further price declines down to the 116.00 to 114.00 price level and if that levels is broken the 110.00 price level could be a good area to look for longer term support.