Candle stick signs for Trending market

Find this useful to identify trends with candlestick:

Trend is normal. Rising white bodies signal ascending trend and falling red bodies signal descending trend.
Trend is getting stronger. Rising longer white bodies with no lower shadows for ascending trend; falling longer red bodies with no upper shadows for descending trend.
Trend is getting weaker. Candle bodies become shorter and for ascending trends lower shadows occur, for descending trends — upper shadows.
Trend consolidation. Small candle bodies with both upper and lower shadows.
Trend is changing (not accurate signal). Very small candle body with long upper and lower shadows.

Your trade results will show if you are doing what is correct or you are doing what you like

9 July 09 EuroUsd good trade

Your trade results will show if you are doing what is correct or you are doing what you like

Enter Trade with AND Exit Trade with OR

Entering a trade is a process of asking AND answering questions

Is the trend up or down
Is the market choppy
Are prices trading above or below the Wave
Am I waiting for pullback or bounce
Am I waiting for a breakout or breakdown
A I setting up a momentum trade or a swing trade
Where are my swing highs and swing lows
Did my Fibonacci retracement and extension level give me secondary confirmation
Have my trendlines, support, and resistance levels formed a chart pattern
Are there any reports to be released today

Exit trade at stop-loss OR profit targets.

Your trade results will show if you are doing what is correct or you are doing what you like

8 July 09 Good trade for EuroUsd Again

Market experienced a selldown (illustrated by a gap down). It is puzzling as there is no news announcement... Entered after the gap and exited near the support line. Small amount but I expect more downtrend over the night. Sure looks bad the following day as it went down to as low as 1.3832. Market might range a little - rest a little before which it decides to continue the downtrend or move up. Judging from the major trend, supported by minor trend, I am downtrend bias. Let's see how market moves in Asia Timing later in the day.


Your trade results will show if you are doing what is correct or you are doing what you like

US broker not allowed to carry trade over to next day?

By now you are probably well aware that NFA has made a new rule that prohibits US Forex Dealer Members from carrying customer accounts with opposing positions in the same account past the end of the trading day ("no -hedging"). The rule also requires all positions to be closed in historical order, otherwise known as 'first in first out' (FIFO). There has been wide speculation among user groups what these changes may bring, how they are going to affect the Metatrader platform, how automated trading scripts are going to be affected (Expert Advisors) and what retail trading is going to look like in the future.

The 'No-Hedging' rule has been in effect for over a month now and as many of you can attest most of the statements of "doom and gloom" have been highly exaggerated. The FIFO rule implementation has been extended once already and there is continuous talks amongst all companies, platform vendors (software companies), and NFA as to what will be permitted and how things should be working out. In the midst of these changes some dealers have decided to use the rule changes as a selling point for their offshore service centers. They try to amplify the uncertainty and to play on the customers' fears. It is unclear if they are well equipped to maintain a properly operating MT4 platform in these jurisdictions. Most of them have very little history of operating one. It is certain though that it would be costly and inconvenient to close everything and move an account to an untested firm.

The advice is not to make hasty assumptions based on the loose talk from people who spread rumors.



Your trade results will show if you are doing what is correct or you are doing what you like

7 July 09 Another Good Trade for EuroUsd

Short and gotten 15pips profits. Took a glimpse the next morning and the movement was shocking!!! It breached the key pivot point and plunge like crazy@@
That could be potential profit of more than 80pips...


Your trade results will show if you are doing what is correct or you are doing what you like

7 July 09 Another Good Trade for EuroUsd Sample

Your trade results will show if you are doing what is correct or you are doing what you like