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Thread: Trend of the Day

  1. #2611
    Roberto at DailyFX is offline Moderator
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    Scalping This Weeks Forex Trends

    Article Summary: Identifying a currency pair for scalping is an important skill for short term traders to master. Today we will identify one of this week’s opportunities in the Forex market.

    Each week currency scalpers must decide which pairs are best suited for trading. Today we will review how to make this determination using y using both trend and momentum based analysis. Lets begin with this weeks example on the AUDUSD.


    Learn Forex –AUDUSD Daily Chart



    (Created using FXCM’s Marketscope 2.0 charts)

    To read the rest of Walker England's article, click HERE.
    Last edited by Roberto at DailyFX; 05-30-2013 at 09:59 AM. Reason: Author Update

  2. #2612
    Roberto at DailyFX is offline Moderator
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    Time Trending Trades with CCI

    Article Summary: Timing market entries is a critical skill for Forex traders to master. Today we will learn to time trending trades using the CCI Oscillator.

    When traders think technical indicators, normally oscillators come to mind. Oscillators are a class of indicators designed to track price by moving (oscillating) either above or below a centerline. Knowing how to read and understand these indicators can help trader’s specifically pinpoint market entries. Today we will review one of these indicators from the oscillator family, the Commodity Channel Index (CCI), and discuss how we can use it to trade retracements with the trend.


    Learn Forex –CCI Overbought / Oversold



    (Created using FXCM’s Marketscope 2.0 charts)

    To read the rest of Walker England's article, click HERE!

  3. #2613
    Roberto at DailyFX is offline Moderator
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    Picking Currency Pairs for Forex Scalping

    Article Summary: Identifying a currency pair for trading is an important task for Forex scalpers. Today we will identify one of this week’s opportunities in the Forex market.

    Each week Forex scalpers are tasked with a variety of important decisions. Probobly one of the most difficult is finding which currency pairs are best suited for trading. Today we will review how to simplify this determination by using a series of trend and momentum analysis techniques.

    When deciding on a pair for trading, first scalpers are tasked with finding a strong market trend. A strong trend is imparitive for scalping and will be used to determine wether traders should place buy or sell orders. Below you can see the EURCAD trend in focus as it has increased in value over the past two weeks. Currently the pair is making a fresh montly highs after advancing as much as 423 pips from the May 15th low. As the market continues to make higher highs, traders should then begin to look for fresh opportunites to buy the EURCAD.


    Learn Forex –EURCAD 4Hour Trend



    (Created using FXCM’s Marketscope 2.0 charts)

    To read the rest of the Research Team's article, click HERE!

  4. #2614
    Roberto at DailyFX is offline Moderator
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    EURUSD Provides Momentum For Forex Scalpers

    Article Summary: The recent EURUSD advance has led to many day trading opportunities. Find out exactly why the EURUSD makes a great pair for scalping this week.

    Each week scalpers must determine which pairs are appropriate for scalping. At times this may seem difficult but the process can be simplified when using a series of simple charting techniques. Today we will review how this is done by finding a strong trend the trend coupled with short term momentum. Lets look at this weeks example, using the EURUSD.

    Below we can see the strong uptrend that has developed on the EURUSD. Over the past month we can see the pair advancing as much as 545 pips where it stands today. Also, it should be noted that the the pair is making a fresh montly high. As the market continues to make higher highs, trend traders will begin looking for opportunites to buy the EURUSD.


    Learn Forex –EURUSD 4Hour Trend


    (Created using FXCM’s Marketscope 2.0 charts)

    To read the rest of Walker England's article, click HERE!

  5. #2615
    Roberto at DailyFX is offline Moderator
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    Bringing the Powerful Basket Approach to Forex Trends

    Article Summary: Price often favors continuity as displayed in the market's tendency to trend. At the core of these trends is often one currency that is becoming notably stronger or weaker than its counterparts. Once this momentum starts to grow, traders can take a diversified approach in the form of currency baskets to manage opportunities in the Forex market while controlling exposure at the same time.

    "Forget the needle, buy the haystack." -- Jack Bogle, Father of Indexing

    Trading and Investing can be as difficult and technical or as simple and elementary as you wish. On the difficult side, you have banks and hedge funds with entire floors dedicated to analyzing market inefficiencies to find an edge that they can exploit to the tune of billions of dollars. On the easy side, you can take a simple approach that looks to buy signs of strength and sell signs of weakness that you’re able to recognize. This article recommends and explains the latter.

    The Edge & Execution

    Finding an edge is the hard part, even though we’ll discuss methods shortly. The next part and easier portion is finding out how to execute the newfound edge. The two methods we’ll look at are through a handpicked portfolio of currency pairs or a Currency Basket through the Mirror Trader platform (free to FXCM live account holders).



    To read the rest of Tyler Yell's article, click HERE!

  6. #2616
    Roberto at DailyFX is offline Moderator
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    What is a Good Win Ratio?

    As I’ve traveled and given Forex strategy presentations around the world, one question that frequently comes up from the audience is an inquiry about the strategy’s win and loss ratio. In essence, the listener is attempting to judge the quality of the strategy by its win ratio.

    (The win ratio is simply the number of winning trades divided by the total number of trades. For example, a trader who won on 15 of 20 trades would have a 75% win ratio.)



    When confronted with the question about a strategy’s win ratio, I’ll provide theaudience of my opinionand then follow up with another question.

    “Do you think that a 45% win ratio is a good win percentage?”

    I can tell by the gazed looks of most attendees that they are not sure how to respond.

    On the one hand, if the win percentage is not good enough, why would the DailyFX EDU team teach the strategy?



    To read the rest of Jeremy Wagner's article, click HERE!

  7. #2617
    Roberto at DailyFX is offline Moderator
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    Trade FOMC with Breakout Entries

    Article Summary: Short term trading ranges can provide excellent opportunities for Forex scalpers. Learn to trade breakouts with the trend prior to today’s FOMC news event.

    Market ranges occur when a currency pair lacks a specific directional trend. This can often happen as the market awaits specific direction from a news event like todays FOMC release. Instead of being deterred by sideways pricing, short term Forex traders can take advantage of them by identifying the range define and preparing to trade the news using entry orders. Today we will review a trading plan for taking advantage of these scenarios.


    Learn Forex –EURUSD Range


    (Created using FXCM’s Marketscope 2.0 charts)




    To read the rest of Walker England's article, click HERE!

  8. #2618
    Roberto at DailyFX is offline Moderator
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    Trading a Weak Australian Dollar

    Article Summary: Using this simple Forex technical analysis technique, determine the relative strength and weakness of a currency rather than a currency pair. This is an easy way for Forex beginners to identify stronger versus weaker currencies to trade. Using this simple analysis tip, we find the Australian Dollar is weak against its other main counterparts offering us a strong trend to trade.

    In our DailyFX EDU classes and webinars, we frequently talk about relative strength…not the relative strength indicator, but relative strength of currencies. This means we need to analyze them in relation to the other currencies to find out which currencies are showing relative strength and which ones are showing relative weakness.

    Open a 4 hour price chart with a 200 period Simple Moving Average (SMA) as the filter. Simply take note of each currency in the pair and its relative performance versus the 200 SMA.

    [If you are unsure how to apply the Simple Moving Average to a chart or how to use the SMA in trend identification. register to view this free 15 minute video course on Simple Moving Averages.]


    Learn Forex: Analyzing Currency Strength

    (Created using FXCM’s Marketscope 2.0 charts)

    To read the rest of Jeremy Wagner's article, click HERE!

  9. #2619
    Roberto at DailyFX is offline Moderator
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    Forex Breakout Basics

    Article Summary: Trend traders enjoy the luxury of first identifying market direction prior to executing a trading strategy. Once found traders can employ a breakout strategy for entries.

    As we discussed in an earlier edition of Trend of the Day, there are many advantages to identifying and trading a strong trend. Below we can see a prime example of such a trending market. Currently the EURUSD has advanced as much as 542 pips since its July 2013 low at 1.2754. When looking at the chart below, it is important to notice the series of higher highs printed on the graph. With the EURUSD trending upwards, this makes the currency pair a prime candidate for future buying opportunities.

    Today we will continue our discussion on trend trading basics by identifying potential breakout trading opportunities with the trend.

    Learn Forex – EURUSD 4Hour Uptrend



    (Created using FXCM’s Marketscope 2.0 charts)

    To read the rest of Walker England's article, CLICK HERE!

  10. #2620
    Roberto at DailyFX is offline Moderator
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    GBPCAD Trend Moves to Monthly Lows

    Article Summary: The GBPCAD continues to trend into today’s heavy economic calendar. Learn if the trend on this Forex currency pair is poised to continue by using short term momentum analysis.

    Canadian currencies have been popular this week with Forex scalpers. This is for good reason as most CAD cross pairs continue to trend against exceptionally well against other major currencies. Despite its strength it is always prudent to investigate if short term momentum is moving in tandem with a primary trend before placing any new positions. Through this analysis scalpers will develop a trading bias, as well as identify the strongest currency pairs for trading.

    Today we will focus on the GBPCAD currency pair. As it continues on its multi month downtrend, we will look to identify short term momentum to validate any new scalping opportunities.


    Learn Forex –GBPCAD 8Hour Trend


    (Created using FXCM’s Marketscope 2.0 charts)

    To read the rest of Walker England's article, CLICK HERE!

  11. #2621
    Roberto at DailyFX is offline Moderator
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    The Midweek Trend Review

    Article Summary: Forex traders should take the time to review price action changes throughout the week. Today we will learn how to find this week’s market momentum for Forex scalpers.

    Wednesday is the half-way point for this week’s Forex trading. As traders reflect on trading to date, the mid-point can be a great time to reassess current trends and review any new market developments. Reviewing trading data can be an imperative skill for scalpers to help ensure that future positions are in the direction of current market momentum for the remainder of the week.

    So how can we begin our mid-week review?

    Learn Forex – USDJPY Momentum






    To read the rest of Walker England's article, click HERE!

  12. #2622
    Roberto at DailyFX is offline Moderator
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    Think Again If You’re Eager To Sell The Yen

    Article Summary: The Japanese Yen trade that littered headlines from November of last year to May of this year has had many traders on the edge of their seats to get back in but for many reasons that may not be the BEST way to trade USDJPY. Ichimoku gives us a hand in seeing a developing opportunity.

    “The speculator who can both be right and sit tight are uncommon.”

    -Jesse Livermore

    Shorting the Japanese Yen (JPY) was called the "hottest trade" in the financial world earlier this year. Along with shorting the JPY many hedge funds were simultaneously buying up the Nikkei 225 because a weakening JPY was almost perfectly correlated to a rising Nikkei. However, in mid-May, the trend stopped in its tracts and has begun a correction of much of the 2,660 pip move.

    Learn Forex: Ominous Signs for USDJPY Bulls



    Presented by FXCM’s
    Marketscope Charts


    To read the rest of Tyler Yell's article, CLICK HERE!

  13. #2623
    Robert at DailyFX is offline Moderator
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    A Simple MACD Strategy

    Article Summary:Creating a Forex trading strategy does not have to be a difficult process. Today we will review a simple MACD strategy for trending markets.

    It can be extremely difficult for new traders to finalize a trading strategy for trading the Forex market. The options for market entry are virtually unlimited, and it is often good to have a simple strategy on standby. Today we are going to review the basics of a simple MACD strategy, based on finding the trend then utilizing an indicator for execution.

    So let’s get started!

    Find the Trend

    The first step to trading any successful trend based strategy is to find the trend! One of easiest ways to find the trend is through the drawing of a trendline. Traders can connect the lows in an uptrend and find a clear area of where price is supported. Below we can find an ascending trendline on the EURCAD.

    Given the information above, traders should look to buy the EURCAD as long as it remains supported. If the trend continues, expectations are that price will remain above support and new highs will be created.

    Learn Forex –EURCAD Trendline

    (Created using FXCM’s Marketscope 2.0 charts)


    To read the rest of Walker England's article click HERE!

  14. #2624
    Robert at DailyFX is offline Moderator
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    3 Tips For Trendline Trading

    Article Summary:Trendlines are a staple for technical Forex traders that can be used on any currency pair and on any time frame. Follow these 3 easy steps to drawing trend lines which is a powerful tool to time entries and exits of a trade.

    A trendline is probably the most basic tool in the technical trader’s toolbox. They are easy to understand and can be used in combination with any other tools you might already be using. By definition, a trendline is a line connecting two or more lows or two or more highs, with the lines projected out into the future. Ideally, traders look at these extended lines and trade on prices reacting around them, either trading a bounce of the trendline.

    So, what can we do to make sure the trendlines that we've drawn are sound?

    Tip #1 – Connect Swing Lows to Swing Lows (or Swing Highs to Swing Highs)

    We want to draw a line connecting either two (or more) swing lows or two (or more) swing highs. For those unfamiliar with the term swing highs/lows, we simply mean the peaks and valleys created with zig zagging prices. Once we connect peaks with other peaks or valleys with other valleys, we want to see the line not being broken by any candle between those two points. Take the examples below.

    Learn Forex: Draw Unbroken Trendlines

    (created from FXCM Marketscope 2.0)


    To read the rest of Rob Pasche's article, click HERE!

  15. #2625
    Robert at DailyFX is offline Moderator
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    Trendline Breakout Basics

    Article Summary: Breakouts occur when areas of support or resistance collapse. Today we will review trading tips for trendline breakouts.

    Drawing a trendline can be an extremely useful technical tool for Forex traders. While traders initially will use a validated trendline to trade market swings with the primary trend, they can also be used for breakouts. So what exactly should a trader do in the event that price moves through an existing line of support or resistance? Today we will find out as we examine what to do in an instance where price breaks through an existing trendline.


    (Created using FXCM’s Marketscope 2.0 charts)


    To read the rest of Walker England's article, click HERE!

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