What the Charts are saying about Yen - forex target trading reviews

What the Charts are saying about Yen ~ forex target trading reviews

The Yen is at an interesting level now and so are currency pairs and other markets related to it. On a long note, its been dipping since 2011, now at 2007 low.

 Markets go up and down, in spiral form. When the price of a particular instrument goes up, its a normal thing to think of a dip. 

 

The question now is Where? and When?. 

Let me start this analysis from Nikkei 225 index which has a very strong negative correlation with the yen. 

 

Typically when Yen falls Nikkei rises and without any surprises, Nikkei has soared from 2007/08 to a 20 years high region. A fall is expected soon.

 

The charts below show the elliot wave count of Nikkei on the Monthly and Weekly time frames and are looking very strong on the upside. 

 

100% projection of its 5th wave from the 4th wave falls at 2165 and its neighborhood. 

 

The long term rally could end at this resistance level.

 Nikkei is expected to continue the rally to complete the last leg of the sub-wave of the long term bullish move.

 

 

 

The dip in Yen and rally in Nikkei are in very clear impulsive moves and a correction is expected targeting at least the region of the 4th wave of these moves.

Yen currency pairs like CadJpy, GbpJpy, AudJpy, NzdJpy and UsdJpy have been on a long term bullish impulsive move.

The UsdJpy is expected to follow this same pattern as shown in the chart below which also shows the possibe reversal zone by fibonacci extension tools.

AudJpy is illustrated in the chart below to complete the last leg of the long term impusive subwave. The possible region of reversal is indicated.

GbpJpy analytical chart is shown below.

And finally CadJpy

 

 

Updates will come as more price data are included to ascertain this analysis.

I will post updates.

Bookmark this blog

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UsdCad The Journey So Far And What To Expect - short term forex trading signals

UsdCad The Journey So Far And What To Expect ~ short term forex trading signals

UsdCad was my favourite currency pair. I have traded almost all the patterns in between  for a long time. Its count was so easy for me and at a glance, I saw what price was saying in every move and turn.

At the beginning of this year, I started with a bearish bias though with a long term bullish sentiment. The article was titled UsdCad Analysis for 2015. I forecast a rally in price to 1.35 and above, but after a dip to 1.0 region. 

Below is an excerpt from the article.

"In the long term, this current impulsive move from 2011 is probably part of the ‘C’ leg of the projected zigzag corrective pattern. The ‘C’ leg should take us to 1.35xx and 1.46xx in the years to come, probably a period of 3-4 years"

 

Price since then even rallied further quickly to a long term high in a 5-wave impulsive bullish move which fit a perfect flat formation (weekly chart) as I posted in what was titled Flat formation in Usdcad. I sold at the completion of the flat as I expected a full long term bearish move. Price only dipped for about 900pips before the bullish resurgence.

Price advanced to 1.255 and I labelled it a zigzag correction of the first bearish move which I favoured as an impulsive move though I had a corrective alternative. I chose the impulse because I expected price to react to a larger degree flat pattern..

The advance to 1.255, as a percieved zigzag pattern prompted me to a sell expecting a wave 3 dip which should at least break 1.19 below.

After that discovery, I posted an analysis titled Multi face analysis of Usdcad. 

Below is an excerpt from the analysis.

 

"The long term bullish flat correction which started in 2007 is expected to have ended. The first impulsive wave downside followed by a prospective zigzag corrective wave 2. 

Price is expected to start a new impulsive journey to the downside which is expected to take 1.1920 ( the first wave low) and to 1.1250."

 

Price dipped as expected in a move that was not typical of a wave 3, a zigzag to be precise. The dip ended at 1.21 which was 200pips away from the 1.19 low. Price advanced so fast in the manner of an impulsive move as I watched it broke above the 2015 high at 1.283 and I changed my wave analysis to what I have below.

 

 

 

  So if this is the case, what do we have in the longer term?

The dip from 1.283 to 1.19 was only the 4th wave of the last leg of the longer term (degree) abc correction to complete what pattern?. A zigzag probably.

The chart below shows an emerging long term correction.

 

This zigzag pattern has entered the region of the 4th wave of the impulsive dip from 1.62 to 0.905 ,as shown in the chart above, which is a good region for the completion of a corrective pattern especially a zigzag.

 

I expect price to continue the rally to 1.34 or 1.40-46 in a fifth wave journey after a minor shorter term wave 4 dip. 

 

These projected levels are similar to what I forecast at the beginning of the year as I have posted at the beginning of this article. 

 

What happened between January and July, of course, was a change of pattern which is what we use as elliot wave theorist to understand the behaviour of price.

 

We can follow price actions by analysing with elliot waves theory. 

 

By using elliot wave principles, we can :

1. identify the direction of the dominant trend.

2. identify counter trends.

3. determine the maturity of a trend and a counter trend.

 

As prices develop, we will look for inherent tradable patterns that will build our confidence and apply the right money management rules.

 

Trade with confidence. JOIN AN ELLIOT WAVE MENTORSHIP CLASS and be an elite trader.

 

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Eurusd Intraday Update - quality forex trading signals

Eurusd Intraday Update ~ quality forex trading signals

Over the week, price has reached our forecast target at 1.6-1.7 and immediately reacted there as it dipped in what looks like a correction. 

The alternate medium-term triangle projection did not hold and we can still stay with our original forecast of a {WXY} double zigzag correction of the bearish move that ended at 1.045 in March.

After price broke out of the triangle as shown by the chart above, we should expect price to move in a zigzag/double zigzag/triple zigzag  pattern or perhaps a 5-wave impulse.

At this moment, the double zigzag seems to be the most probable. Price broke out of the triangle to complete the first zigzag (a,b,c in red) retraced another zigzag in blue and is now expected to complete the double zigzag by advancing upward in another zigzag which should break above 1.17.

The 15minutes chart above shows the X leg of the expected double zigzag clearly. This move itself is a zigzag pattern.

If price from this level, breaks above 1.1436, we should be expecting a new high provided price stays above 1.12.

Follow the intra day updates here>>>>

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A Very Weak Economic Recovery - forex news trading academy review

A Very Weak Economic Recovery ~ forex news trading academy review

A Very Weak Economic Recovery

By Elliott Wave International

Editors note: The following article is excerpted from Elliott Wave Internationals new free report, "U.S. Economy Still on Life Support." For years, the government has manipulated its unemployment statistics to line up with its claim that the economy has recovered strongly. But thats not ALL the government is hiding from you. From foodstuffs, to crude oil prices, to GDP, the numbers and analysis reported by the government and mainstream financial press are misleading at best, downright falsehoods at worst. Get the hidden truth -- click here to read the full two-part report now >>
For years, the government has been manipulating its unemployment statistics to line up with its claim that the economy has recovered strongly.
Jim Clifton of Gallup finally couldnt stand it anymore and wrote a terrific op-ed on the subject. Here is the meat of it:

If you, a family member or anyone is unemployed and has subsequently given up on finding a job--if you are so hopelessly out of work that youve stopped looking over the past four weeks--the Department of Labor doesnt count you as unemployed. Thats right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news--currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them arent throwing parties to toast "falling" unemployment.
Theres another reason why the official rate is misleading. Say youre an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20--maybe someone pays you to mow their lawn--youre not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesnt get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find--in other words, you are severely underemployed--the government doesnt count you in the 5.6%. Few Americans know this.
Theres no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.
--Jim Clifton, Gallup.com

The following chart depicts the substantial decline in employment since 2000.

Notice that the recovery in jobs during the stock market rally of 2003-2007 was only about 1/3 of the decline from 2000-2003. The recovery during the even longer and bigger rally of 2009-2014 has been about 40% of its preceding decline. In both cases, the recoveries have been weaker than the declines, despite new highs in the major stock averages both times.
Editors note: This article is excerpted from Elliott Wave Internationals new free report, "U.S. Economy Still on Life Support." For years, the government has manipulated its unemployment statistics to line up with its claim that the economy has recovered strongly. But thats not ALL the government is hiding from you. From foodstuffs, to crude oil prices, to GDP, the numbers and analysis reported by the government and mainstream financial press are misleading at best, downright falsehoods at worst. Get the hidden truth -- click here to read the full two-part report now >>

---

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If You Decide To Learn Join Us - free forex news trading signals

If You Decide To Learn Join Us ~ free forex news trading signals

Online trading is fast becoming one of the most popular businesses that can be done on the INTERNET.

Despite the risk involved in it, the daily trading turnover is getting more huge and more people are getting involved in the act.

Over the years I have come to discover that, to win in Forex, Commodities or any other financial markets, there is a need to learn and learn.

Winning starts by identifying no-nonsense high probability trades and having the patience to run them through.

Winning is not about the number of trades, rather the number of quality trades and the patience and discipline to execute them.
One other thing__ good money management.

This blog, if it has shown anything, has proved that Elliott wave theory is the best markets forecasting tool- not just that- and also provides opportunities to trade high probability trade set ups with well defined entry, targets and exit levels.

Click here to learn why you need to learn Elliott wave theory .

Lets look at a few of Elliot wave patterns that were posted on this blog.

Just recently, we spot an ending diagonal pattern on Gold daily chart. The diagonal was clearly formed at a well measured convergence point.

The article titled Gold Rally is imminent; how prepared are you? was posted on 21st december





Price has since risen to 1102 from 1065.85 (about 400 pips) is a move that is expected to continue upside.
If you read the whole article, youd see that the diagonal pattern we traded was in line with the general expected price movement.

As price is expected to surge higher, we provided an alternative in the article titled Gold Expected Rally; An alternative view.

We are still on diagonal pattern.

#Gbpchf

The chart below was posted as part of our analysis on Gbpchf titled Gbpchf: The Long Term View

The diagonal pattern was not yet complete and we made a forecast of what is required for the completion.
Of course, price moved exactly as we wanted.

The pattern completed at the region we forecast and what next? We sold and send trade recommendation to our subscribers.

The chart below shows how price responded to the pattern formation.

We made 700pips out of this move risking only 280pips. Is this for real? Absolutely!

Lets look at another interesting diagonal we traded.

#Gbpjpy and #Usdjpy.

Infact, if you have followed all the diagonals we discussed, your accounts should be smilling.

Read articles that show the power of the diagonal. Please take your time and check what happened after the formation on your chart.
Here we go:

On 13th August 2015. An article titled Gbpjpy: When will the bears take over?

On August 23, 2015. Read article titled What drive the diagonals?

At a time , we were posting intra day analysis of some currency pairs. Look at how we follow the price till we get a diagonal and how price reacted to it. Click here

What about Euraud rally after the diagonal.... an article posted on 8th June 2015

.....and an intra day ending diagonal on Gbpusd trade on  22nd February 2015

Before I go; what about the recent one we sent on Audnzd?... Are you among those that received the signal?

Read it here

Massive...right?

Lets look at another pattern...The Zigzag

The ones that easily come to my mind are the recent ones on AudJpy and GbpJpy (double zigzag)


#AudJpy


This was spotted on AudJpy on December 2, 2015. The x wave was a clear zigzag pattern, though we didnt zoom to a lower time frame to show its constituent waves.

We sent the signals to our subscribers. The pattern was clear and price respected it.



GbpJpy was more interesting. We forecast the  pattern and the requirements for us to consider a sell trade. Price did exactly as we have forecast and BOOM!...... Our subscribers enjoyed this most.

The good thing is the risk/reward ratio, we only risked 280pips.

There are so many zigzag and double zigzag patterns we mentioned on this blog.

Just type zigzag or zigzag pattern in the blogs search box at the top right and read many other zigzag patterns. Read the requirements and if price responded. Where price responded, check the outcome on your chart.

Elliot waves theory has 5 core tradeable patterns.
Others are
Triangles... Read our exploits on Eurusd on 4th August 2015 (click the date to read)
The flat pattern. Example is the Usdcad buy set on 27th October 2015

and  the non-overlapping 5-wave pattern generally known as Impulse wave ( probably the most popular elliott wave pattern)
An example... read the forecast on June 22 2015 and the outcome on July 13, 2015

Impulse wave appears most frequently. I am just too lazy to bring our many examples for you.

If only one can be patient for these patterns to complete, they are very reliable.

Why You May Want To Consider Trading Elliot Wave Patterns

1. They are very reliable if all the rules and guideline are kept. Are they perfect? No. The winning ratio is at an average of 70% i.e you will win 70% of your trades if you can recognize textbook-like clear Elliot wave patterns like the examples I gave above.

2. They can compliment other trading systems like Price Action, Chart patterns and harmonic patterns.

3. They can be confirmed by your set of indicators to give you more confidence.

4. Minimum risk/reward ratio is 1:2. You will always win more dollars when you win than the dollars you lose in a losing trade provided you risk a fixed dollar value for each trade.

5. Elliot wave patterns are best traded at demand and supply levels so support and resistance traders will find them useful.

6. If you go further in the study , Elliot wave theory can be used as a forecasting tool for any market, be it commodities, currencies, energies, stocks, indices, real estate, Etfs or strategies that can be used to trade options, binary options e.t.c

7. They can be used for long term, swing and intra day trades. I do more of long term and swing. They are perfect for intraday trades as  well.

In fact, every serious trader should learn how to trade with Elliot wave theory.

Okay, enough of story.

I have put together, a 2-month Elliot wave mentorship programme for you in which I will reveal how I trade elliott wave patterns.

The mentorship will not teach you the in depth, confusing and complex academic Elliot wave theory. It will simply be about how to recognize no-nonsense high probability elliot wave patterns in any market and time frame.

How you can use elliot wave theory as a simple trading system i what you want, isnt it?

The outline of the mentorship course is highlighted below.

1. Basic tenets of  Elliott wave theory (EWT)
2. Rules and guidelines
3. The 5 core Elliott wave patterns briefly.
4. Trend Patterns in details (with rules and guidelines)
5. Corrective patterns in details (with rules and guidelines)
6. Fibonacci ratios in price and time
7. Ratio relationship of trend patterns
8. Ratio relationship of corrective patterns
9. The role of support and resistance and trend line analysis in support of Elliott wave patterns.
10. Reversal signals with candlestick patterns and indicators.
11. Momentum analysis and divergence.
12. How to trade the 5 patterns

• Specific entry levels
• Profit targets
• How to set stop loss
• How to exit a trade
• How to adjust stop loss with respect to market conditions
• How to take sequential profits

13. Money management/ Risk/reward ratio
14. Relationship between Elliot wave patterns and harmonic patterns and how to use them together.
15. How to use Elliot wave to confirm chart patterns

And many more.

At the end of the 2 months programme, you will have gained the better knowledge of the markets and how to wait for the right set ups.

You will learn how not to panic.

Duration: 2 Months

Starting date: February 25, 2016
 

How The Training Will be delivered
1. The outline is broken down into small pdf notes and video tutorials (recorded by me). lectures will be delivered 4 times a week. Weekends for questions and answers

2. For each lesson, there will be examples from past and present price charts. For each lesson taught, all participants and I will brainstorm with many examples from the chart until the lesson is nailed.

3. Assignments will be given to all participants to label random charts and identify inherent trading opportunities.

4. Participants will learn how to use Mt4/Mt5 analytical tools for easy analysis.

5. I will ensure to answer all questions in the best way I can.

6. Training will be delivered through a secret Facebook group

7. Many more discoveries I plan to reveal and those I will end up sharing in the course of the programme.

MATERIALS FOR ALL PARTICIPANTS: 

The best of elliot wave materials from R.N Elliot, other pioneers and researchers of elliot wave principles and some of my latest discoveries (unpublished).

Cost:  #25000  or  $150

 

How To Register

1. Send an interest message to forexmaster05@yahoo.com or to +2348134820569.

2. You will receive the payment details

3. Make payment and notify me.

4. Once your payment is confirmed, details on how to start the training will be sent to you.

 

 

You can contact forexmaster05@yahoo.com for one-on-one online training mentorship on  elliot wave or for signal subscription.

 

Forex Sniper Signal service is launched on Facebook. Please like and follow.

 

Thanks.

Sanmi Adeagbo

forexmaster05@yahoo.com

+2348134820569

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EurUsd Next Move Are You Ready - best forex trading course review

EurUsd Next Move Are You Ready ~ best forex trading course review

As EurUsd continues to dip, we ask ourselves— HOW LONG OR FAR WILL IT CONTINUE DOWNWARD?.

On the long term, what we are currently seeing is probably the formation of the last internal wave of the Triangle corrective pattern which started after the completion of a 8 years long bullish impulsive move in 2008. 

 

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How Longer Will The Bull Rule UsdJpy - forex trading signals sites

How Longer Will The Bull Rule UsdJpy ~ forex trading signals sites

Usdjpy broke 13 year high with a long term impulse primary wave which started from 75.045 in late 2011. The primary impulse is presently at an advance stage which could probably extend to 135-136.

I believed the dip from 126 would be the beginning of a primary correction in what was expected to be a motive wave but a double zigzag corrective pattern was formed instead which suggested to me that the primary bullish wave should still continue and the next long term price levels to watch out for are 135-136 (2002 high was at 135.798).

Follow the intraday analysis here

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Senin, 18 April 2016

Nikkei 225 index at 15 years high What for Yen - forex trading apprentice review

Nikkei 225 index at 15 years high What for Yen ~ forex trading apprentice review

Japanese stock index, Nikkei 225, nearing 15 years high. Massive impulsive move about to complete probably at 20600-50 level. Massive correction is expected to the south. This could spell something for the YEN

Posted by Sanmi Adeagbo on Sunday, May 24, 2015

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Jumat, 15 April 2016

EurAud Rally After The Diagonal - maverick forex trading reviews

EurAud Rally After The Diagonal ~ maverick forex trading reviews

 

 

 

The charts above were used to analyse Euraud on 2nd June, titled Euraud at Critical Wave Zones. 

 

We saw from the weekly chart that there was a divided thought on the decision to take a bullish conviction.  

 

The correction was projected to complete at 1.3250 ( a good fibonacci and psychology level) but the formation of the ending diagonal posed an early completion and price is expected to rally further.

The intra day resisting region at 1.4350-4450 quickly came to mind. 

We thought that a bounce from this region could invalidate the diagonal (since price will still be within its territory).

As price broke above this resisting region, the bullish move was activated.

 

 With the strength of Euro across major currency pairs, Euraud might rise higher to break above 1.5341, 1.5829 and soar high.

 

 

 

Price will validate or invalidate this.

 

  You can get updates here

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Minggu, 10 April 2016

Audnzd What We Expect Next - forex trading signals provider review

Audnzd What We Expect Next ~ forex trading signals provider review

As a technical analyst, its essential to learn different technical approaches to market prices.

Elliot wave theory, chart pattern analysis, fibonacci harmonic analysis, candlestick price action are some of the effective elements of technical armory every chartist must equip himself with.

On October 29th, an analysis was posted here on Audnzd titled Audnzd: Upward trend to continue?.  We discussed about a 5-wave bearish elliot wave impulse pattern as seen on the weekly chart.

After the end of the impulsive wave, a 3-wave correction , as expected, seems to have started as price rallied from 2015 low.

We narrowed down our elliot wave count to the hourly chart as we got a bullish trade set-up which we quickly shared with our subscribers.

All our profit targets were hit; though we were forced to close some of our trade before the final target due to a bearish reversal warning in the article titled: Audnzd: A Technical Combination.

Price rallied further, hit all targets and started falling as expected.

Will this fall continue or price will resume the rally?

The chart below is the recent weekly chart.

There is a prospective inverted head and shoulder reversal chart pattern subsumed in what could be a complete elliot wave cycle.



A complete elliot wave cycle is a 5-wave impulse trend wave followed by a 3-wave correction in the opposite direction of the trend.

With our wave count, we presume that price is still in the wave-C of the correction expected and the second wave of the C-wave is expected to end soon.

The 2nd wave of wave-C is a hourly tripple zigzag corrective pattern supported by a confluence zone.

If price is contained above 1.05 and rallied to break above 1.077, we will be prepared to get in line with a long position aiming 1.1548 as the final future price level.

Join us as we ride the trend together.

Our free signal service started last month with a 100% wins on 5 trades profiting about 2000pips.


You can take control of your trades and funds with our analysis and signals as an aggressive or conservative trader.

Send your E-mail address and phone number to forexmaster05@yahoo.com  

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Jumat, 08 April 2016

What Did You Do With The Gold Rally - trading signals forex market

What Did You Do With The Gold Rally ~ trading signals forex market

On 21st December 2015, we forecast a rally after an ending diagonal formation which terminated the impulse bearish move since 2011.

Read the analysis HERE

We expect price to go higher.

Watch the video below

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Jumat, 01 April 2016

Investors Hated Gold at Precisely the Wrong Time What About Now - forex daily trading system reviews

Investors Hated Gold at Precisely the Wrong Time What About Now ~ forex daily trading system reviews

Investors Hated Gold at Precisely the Wrong Time: What About Now?
Sentiment extremes often foretell major turns in financial markets

By Elliott Wave International

Editors note: Youll find the text version of the story below the video.

I came across this sentence in an article about gold:

Nobody expects gold prices to turn up soon...

Another observer put it this way:

There doesnt seem to be anything on the horizon that will make gold prices go up.

It would be easy to think these comments published last week, when golds price reached a 4 1/2 year low ($1,131.85).
But in fact, those comments published on February 12, 2001 -- within days of golds major low of $253. Many investors missed the ten-year bull market in the yellow metal that followed.
The peak of that bull run was Sept. 6, 2011, when gold reached its all-time high of $1921.50. The then-prevailing sentiment was the opposite of 2001. A major global bank announced that golds "fair value" was $10,000 an ounce.
We had a different point of view. Just four days before golds top, The Elliott Wave Financial Forecast featured this chart and commentary.

Commodity fifth waves in major rallies often end in a final spike higher. ...
Golds wave structure is consistent with a terminating rise. As this monthly chart shows, prices exceeded the upper line of the channel formed by the rally from the 1999 low in what Elliott terms a throw-over. A throw-over occurs at the end of a fifth wave and represents a final burst of buying, as the last sub-waves of a rally conclude.

Financial Forecast, September 2011

Sentiment extremes often accompany major trend changes in financial markets. The Daily Sentiment Index (trade-futures.com) showed 98% gold bulls around the time of the yellow metals all-time high. More than that, a Gallup poll showed that Americans considered gold to be the best long-term investment.
Since then, the price of gold has fallen by over a third.
Now, pessimism is again the prevailing sentiment surrounding gold.
On November 10, an analyst told CNBC: "I dont see a reason why gold prices would continue going up - there are more reasons for prices to go down." The head of precious metals at a Canadian bank says, "The [gold] market still looks vulnerable."
On November 7, the largest gold-backed exchange-traded fund saw its biggest one-day outflow in nearly three weeks. October saw its biggest monthly outflow of 2014.
Whats next for gold? You may have guessed, the sentiment is again suggesting that the majority opinion (bearish, this time) will be proven wrong.
New Free Resource: The Gold Report -- 2015
New technical analysis, eye-popping sentiment studies, why most analysts missed golds 2011 top, plus a BIG near-term opportunity developing for gold investors right now. Log in to read the report now »
Dont have a login? Complete your free Club EWI profile to get immediate access to this report >>

---

This article was syndicated by Elliott Wave International and was originally published under the headline Investors Hated Gold at Precisely the Wrong Time: What About Now?. EWI is the worlds largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

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Sabtu, 26 Maret 2016

Gold Intraday Triangle - long term forex trading signals

Gold Intraday Triangle ~ long term forex trading signals

Gold is presently in an intraday triangle pattern. If price breaks it down , we might see Gold selling at $1152.
Watch the following video

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Jumat, 25 Maret 2016

The Altcoin craze What coin should I hold on to - forex snake trading system version 4

The Altcoin craze What coin should I hold on to ~ forex snake trading system version 4

Altcoins have been the rave over the last 5 days since Litecoins prices surged past $10. Now that Litecoin has found a resistance at $50, and support at $25, whats next?

As predicted, Litecoin was a bubble in the making, and made a mini crash which began on the 28th November from $50/LTC to about $25.56 4 hours ago. Prices look like that have begun to climb back up again, and I wont be surprised to see LTC at $50 again within a week. Unfortunately, even though I predicted the impending "mini bubble" of LTC, I didnt manage to trade them out into BTC at the peak. In fact, I actually bought some more Litecoins at 0.05 (LTC/BTC). Not the best move, but Im still happy with my Litecoins.

So if you havent bought into Litecoins, or have sold your LTC at the peak, its a REALLY good time to buy in right now; especially if youre thinking of doubling your moneys worth in a week or two. If youre interested to get started, but need some help, email me at alvinlee133@gmail.com or leave a comment below and well see how we can work something out! =)

More interestingly, Litecoins price surge was tailed by all other major alternative crypocurrencies during this rise, especially those available for trading on Btc-e. In my post back in October when I first found out about Altcoins, I featured a snipshot of the top 6 Cryptocurrencies on coinmarketcap.com, and it looked something like this:

And then 1 month later, on the 28th of October, it looked something like this:

Over the course of 1 month, Litecoin market capitalization increased over 2000%. The rest of the top alt coins also saw large increases in market cap with Peercoin (PPC) gaining 1100%, with Namecoin (NMC) and Primecoin (XPM) following behind with a 1700% and 850% gain respectively. During the month of November, almost all major altcoins outperformed Bitcoins 600% increase in market capitalization during the same period.

And just TWO DAYS later, at the time of posting, it looked like this:

For your viewing pleasure, I have set them up in a nice, borderless table for a comparison of market cap gains over the last 2 days. Im sorry to you NovaCoin fans for leaving NVC out of the equation, but I read about some pre-mining & other issues with the development team somewhere, so Im staying away.

[Market Cap]	BTC	LTC	PPC	NMC	XPM	FTC
% Gain	14%	0%	131%	30%	47%	148%

With a quick look at http://altcoins.com/, we can see the two greatest gainers were PPC and FTC, which have nothing in common in terms of the algorithm. Alternative Coin prices are purely based on speculation right now, as can be seen by the huge rally quickly following behind Litecoins rise to fame.

If youre planning to dabble in some alt coins besides Litecoin, and have a high risk propensity, this may be the best time to risk your money for the possibility of massive gains. By massive, Im talking about a minimum of a 5 fold increase in USD value (or even Bitcoin value if youre lucky enough).

Im not really a person for predictions, but this situation calls for one. As mentioned, I (personally) believe that alt coin prices are following behind LTC prices, ever so slightly. You can get to see the latest price movements with my favourite Bitcoin chart to date: Bitcoinwisdom.com. On Bitcoinwisdom, use the 1m chart to see the prices as they trade live, and you can even choose between different markets from the bar at the top making it much easier to compare prices across different exchanges. If youre new to chart reading, please check out their help page @ http://bitcoinwisdom.com/help/charts. If you need a better explaination, comment below and Ill be more than happy to help.

Use Bitcoinwisdoms chart to see when Litecoin prices are going up (which I think is happening now, with a resistance of $50 and a support at $25), and invest in your trusted alt coins when you think it is happening! If I had to name one, Id go with NMC! If you prefer something with a higher risk, try FTC & XPM.

Trade with your heart, not with your mind. Trade safe, and HUAT AH!

I have my next post in mind about panic selling/buying and how you can avoid it, and a little bit about bull/bear traps. But before I go into that, let me just end off with a piece of advice for beginners. DONT trade (unless your taking a profit) during a price spike! More likely that not, a huge up/downswing (as seen on one candle in BTC-es charts) will end up close to its original position, before moving off in the same direction. To get a better understanding, look at the example below:

On the left, we have 2 candles pointed out by the blue arrows which illustrates my point. First arrow shows a candle with a huge dip downwards, and price retracts to close to the top within a minute or so. After which, prices will start to bleed downwards. This is the same for the 2nd blue arrow, but in the opposite direction (upward trending).

On another note, I just wanted to also point out the candle pointed out by the red arrow. Such a significant (in size) and opposite trending candle, following a "peak" as shown by the previous 3 arrows, usually means that a downtrend is coming. Or at least thats what Ive learnt from my 2 month experience analyzing Cryptocurrency charts.

I also found a very interesting theory that is applicable to the crytpo markets. If you are interested in trading your Bitcoins, be sure to read up on Elliott Wave Theory.

More info for The Altcoin craze What coin should I hold on to ~ forex snake trading system version 4:

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What Drive The Diagonals - reliable forex trading signals

What Drive The Diagonals ~ reliable forex trading signals

The diagonal pattern is one of the 2 motive waves discussed by the elliot wave theory. The diagonal is so often followed by a fast and high momentum breakout that it has become its after-formation characteristic.

But, what drive the diagonals to behave so?

The close of trades of UsdJpy and GbpJpy last week showed clearly how price responds after a diagonal pattern has formed.

In the last post on GbpJpy titled GbpJpy: When Will The Bears take Over , I quoted thus:

"If price is contained below 195.755 and breaks 193.34, price could start a big fall to 190.863 (in the short term) and 173.553 as the final after-diagonal price reaction target."

Price did just that after the completion of the diagonal as shown by the chart below.

In the Intra day updates of Usdjpy, diagonal was also spotted before completion. Immediately the possibility was spotted, I posted :

"To complete this pattern, price is expected to rally but must stay below 125.75 to be considered a valid pattern.  If the pattern completes, a dip is expected to at least 123".


After the pattern completion, I set 123 as a target and price has since gone beyond in a typical after-diagonal volatile move as shown by the chart below.

Prices react to diagonals in high volatility and momentum much more often than not. We might not bother about what cause this but know that markets behave this way.

Follow UsdJpy intra day analysis >>>>> 

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Selasa, 22 Maret 2016

Usdcad What Is The State - reviews about forex trading

Usdcad What Is The State ~ reviews about forex trading

In the last update on Usdcad, I mentioned how price could react to the break of the triangle corrective formation. 

How I expected it to retrace to the neck line before continuing the journey. 

 

I stated how price could react to the 1.2800 resistive barrier and unsurprisingly, price is consolidating around the region after breaking out of the triangle.

One of the properties of a triangle corrective pattern is that it usually preceeds the end of a trend or sub-trend. Triangles are usually wave 4 of a motive/impulsive move or wave B of a correction.

The move out of the triangle region should expectedly be an impulsive move or an ending diagonal which should break 1.2800 and be about 100% extension of the largest width of the triangle ( this is projected to reach 1.3025.

 

 

 

Presently, price is forming  more likely a would be ending diagonal than a regular impulsive move. Our confidence of having diagonal or impulsive move would be strengthened if price is contained in the upward channel

Price is expected to move up after completing what should be an intraday side way move.

If price breaks below the channel support line, we would see what price is saying and re-analyse if the momentum is not out of our reach.

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