Stop has been set to 20 pips.

Gordon Gekko's real-time Forex trading calls

Speaking of Canadian dollar, the USD/CAD is currently stuck in a nice range on the 15 min chart. A breakout to the upside seems to be the most probable scenario...

Gordon Gekko's real-time Forex trading calls

Not sure why the Canadian dollar jumped 21 pips after 9:30 PM (NY time) but who cares. The USD/CAD is usually hard to move during the Asian session.

Gordon Gekko's real-time Forex trading calls

Preceding post has been edited because I wrote "47 pips stop" instead of "47 pip stop" (the extra "s" in "pips" was wrong).

Gordon Gekko's real-time Forex trading calls

Bought EUR/CAD at 1.3575, 47 pip stop.

Gordon Gekko's real-time Forex trading calls

Wow, very impressive indeed, Isingh! Or maybe I should call you Sherlock Holmes from now on

Gordon Gekko's real-time Forex trading calls

In general, if the trader wants to play the reversal and follow the new up trend (if it is indeed a new up trend), it's better for him to wait for at least 2 consecutive Higher High (HH) and 2 consecutive Higher Low (HL) - and vice versa for ...

Gordon Gekko's real-time Forex trading calls

You want another neat channel? Here it is on the CHF/JPY (5min). As always, when the channel is downtrend-ed we are looking for an UPSIDE breakout, don't bother with breakouts to the downside in this case, they are extremely hard to catch and the ...

Profiting from simple classical chart patterns

You are welcome Aazishhunain.

Profiting from simple classical chart patterns

The AUD/USD is also forming a descending triangle on the 1h chart. Oh boy, now we have two bearish chart patterns at the same time, a rare event indeed...

Profiting from simple classical chart patterns

Inverted head and shoulders formation on the AUD/USD (30 min). The price is also below the 20 and 50 moving averages.

Profiting from simple classical chart patterns

Oh, so you want to know all my little secrets, eh? Ok here it is. First of all, look at that red oval. Notice how the candlesticks are now completely above the breakout line and like free floating up in the air? Well this is the first thing I ...

Profiting from simple classical chart patterns

Here is a quick update on this channel formation on the NZD/CAD (5 min). Look closely, it seems like a breakout is in progress, right? Nope, only total amateurs would buy this "breakout" at this early stage! No Sir Mister Market, I want to see a ...

Profiting from simple classical chart patterns

Excellent point, Sinqua. Once again, this problem comes from the fact that some traders still have no clue what leverage truly means. They naively believe that if they deposit (or maintain) more money/capital with their FX (or futures) broker they ...

I've figured out why so many people lose money in Forex

No trading signals anywhere today. Psychologically, it's hard to wake up each morning at 6 AM, spend like 10 hours in front of the computer screen and find absolutely nothing to do. Or even worse, find a "trade" and still lose money! But that's ...

Gordon Gekko's real-time Forex trading calls

So far the channel on the NZD/CAD (5 min) is still holding tight. Notice the big price rejection at support level (red oval).

Profiting from simple classical chart patterns

I am not refusing anything, YOU simply do not get it, period. And what's even worse is the fact that you are (deliberately or not) feeding false information to traders, especially beginners. Reread what you just wrote, no disrespect but it's just ...

I've figured out why so many people lose money in Forex

Nonsense. A loan is legally and financially created each time you trade on margin. True, at least technically. But what you conveniently "forgot" to mention is that the loss could be quite, quite substantial and in some cases even exceed your ...

I've figured out why so many people lose money in Forex

So do you currently have any open position on the EUR/USD, the AUD/USD or the GBP/JPY, Isingh? Or perhaps you are simply watching these pairs on the 1 h charts and waiting for a signal to pull the trigger? On a personal note I have just received a ...

Gordon Gekko's real-time Forex trading calls