Hi, for those who are not members of our 5* rated forex mentor program - the mentor program I run with Dean Saunders & Pierre du Plessis, here is a copy of todays (29th February 2012) blog post and video.
On Sunday I provide a detailed analysis for the week ahead, this weeks plan is currently 300+ pips in profit, consider joining us to learn how to trade for yourself and become a member of the members only section of the forum where Pierre and lots of other experienced traders share ideas, tips and advice. We currently have a special offer of $4.95 for the first 7 days, access all areas & thereafter its only $49.5o a month. Here is the link: Forexmentorpro Special Offer We teach you how to trade and then every day we show in advance trades we are looking for and most importantly, why. That way you can learn to trade forex for yourselves.
Here is a copy of todays blog post and video
Forex is SO easy when you look back at old charts and see where you “should have” taken a trade.Hopefully you are starting to see these potential moves in advance.
I started to plan a Cad short on the 14th February. I went into great detail again in Sundays analysis why there were MULTIPLE reasons why I was looking to short it at 1.0040.Look at todays video & see why this trade was simply SCREAMING at you to take it.
Fibs, emas, trend lines, previous support and resistance + I told you so Non chartists will tell you that forex is completely random & therefore impossible to predict. Make your own mind up!
Some of you in the forum are struggling a little at the moment due to the lack of clear trends on some pairs. In recent weeks I have shown you how to trade bounces when markets are ranging. Now many ranges have broken, if the trend hasn’t formed or is undecided go back to that old forex faithful, support & resistance.
My Gbp long at 1.5810 worked perfectly, why? Support & resistance. Don’t forget to include emas when calculating support & resistance as I show in the video.
The $/Yen trade at 80.10 worked great (I hadn’t traded this in 2012 apart from a “bet” on a bounce/BOJ intervention at 76.10) why was I looking for a trade there? Simply a break and close above major resistance means that became support AND it was a whole number.Also price was way outside the weekly bollinger bands, which is usually a big clue that price will at least pullback, explained once more in todays video.
Euro Warning I am still interested to trade the Euro (especially the Euro/Gbp) BUT there is LTRO “(how much more money shall we print lads)” news at ANY time today. When this comes out price could hurtle in either direction. Logic says that printing more money is bad for an economy, but logic has little or no place in todays economic nonsense, so price could just as easily shoot up.
If it does, I will wait for the dust to settle and still be interested to short the Euro around 1.3590.I am especially interested in the Euro/Gbp but again wait for the news to come out first.Have a great day, keep learning. You CAN do this, MarcTo view the video full screen click on the square box bottom right of the video
Here is the Special Offer link once more