January | 2009

Jan 30

Forex: Fibonacci & Price Action

Published in Price Action, Learn Forex, Forex Education, Fibonacci, Charts by bobokus | Comment (6)

Fibonacci is used many ways, but how many of you ever use it to determine the balance point between long and short? Fibonacci can be used to help identify reversal points in the market as they are unfolding and help give us one more tools in our inventory; to give you that ever so hard to keep edge in trading. Reversal signals are key in keeping pace with market sentiment. There are ways that we can use the Fibonacci tool as an aid in seeing these reversal points and to be able to look past its levels as merely support and resistance points. Used properly the Fibonacci tool can give you that looking glass that measures overall market sentiment. A simple observation is all that’s needed with the application of the Fibonacci tool to measure the balance between a long and short market sentiment. One day to the next can give us the direction that the market is most likely to take the following day along with a few basic rules of using the Fibonacci tool.

Trading Naked - Live Forex Trade With S&R

Published in Live Forex Trades, Learn Forex, Forex Analysis by bobokus | Comment (0)

Live trade example using support and resistance to scalp a quick profit out of the market..

Jan 17

How To Trade Forex Using Fibonacci To Follow Price Action

Published in Price Action, Learn Forex, Forex Education, Fibonacci, Charts by bobokus | Comment (2)

This week we'll look at using the Fibonacci retracement tool to gauge price movement and give some pointers on using the Fibonacci retracement tool. In this example we'll use the USD/Yen and start from the 4 hour perspective. (Figure 1) is the starting point where we watch the retracement. After making a high we see price begin to fall, find mild support and begin to move back up. As it moves back up we can use the fib tool to point out the resistance levels to price.

Figure 1

As it moves back up we watch the price action as price comes into contact with the resistance levels. We find that selling pressure is present and a short trade becomes possible.

Jeff's Forex Market Notes - January 11th, 2009

Published in Forex Analysis, Charts by bobokus | Comment (0)

Yesterday brought to a close another good week for the Forex Trade Kings Club and myself. We have enjoyed 5 weeks now with our weekly targets being met and we expect this to continue. The more volatility there is in the markets the more we like it. This past week the Euro has fell to test the previous support left by natural support and resistance points. Initially this point has held in the 1.3300 range a second test here and we could see a failure this next time around. Looking at this movement of the Euro over the past week since the initial test of 1.3300 (figure 1) and the events that unfolded from that point.