Latest Forex News 30-11

EUR: Through the day-to-day noise, the euro has done reasonably well over the past two weeks. Still, to really attract attention, this current push higher would need to break through the September/October high and get above 1.32. Some worries that the Greek debt buy-back proposal is already unravelling.

JPY: Weaker overnight, some talk that it was related to Softbank’s purchase of Sprint. Japan’s government announced a JPY 880bn stimulus package, as mooted a few days ago.

AUD: Since early October, has respected a gently-sloping uptrend, although with an occasional wobble. These days trades more like a safe-haven currency than a high-beta one – yesterday it fell despite the fact that risk assets strengthened.

GBP: Had a healthy bid despite total lack of new news. Indeed, has looked comfortable for two weeks now, without really breaking any new ground. Needs to trade above 1.61 to really test the mettle of the bears.

Source Fxpro

Latest Forex News 28-11

EUR: Yet another case of buy the rumour (of a Greek debt deal) and sell the fact, with the euro retreating after running into a determined wall of sellers up at 1.30. Upbeat economic news out of the US helped the buck, as did month-end flows. Single currency may drift lower near term.

JPY: Yen shorts headed for cover again overnight, amidst rumours that the government in Japan would announce a massive fiscal stimulus on Friday. May see yen climb further in the very near term in what will be a big test of conviction for the bears.

AUD: Struggling very slightly, although not in a way that should cause too many alarms. Asian equities off by around 1% overnight and yet Aussie still fairly firm. Some traders alert to rising prospect of a rate cut next week.

GBP: Sterling got a lift yesterday as traders and investors alike responded positively to the news that Mark Carney had been appointed BoE Governor. Month-end flows probably helped the pound as well. Some of yesterday's gains have been diluted overnight

Source FXPRO

Latest Forex News 28-11

EUR: Yet another case of buy the rumour (of a Greek debt deal) and sell the fact, with the euro retreating after running into a determined wall of sellers up at 1.30. Upbeat economic news out of the US helped the buck, as did month-end flows. Single currency may drift lower near term.

JPY: Yen shorts headed for cover again overnight, amidst rumours that the government in Japan would announce a massive fiscal stimulus on Friday. May see yen climb further in the very near term in what will be a big test of conviction for the bears.

AUD: Struggling very slightly, although not in a way that should cause too many alarms. Asian equities off by around 1% overnight and yet Aussie still fairly firm. Some traders alert to rising prospect of a rate cut next week.

GBP: Sterling got a lift yesterday as traders and investors alike responded positively to the news that Mark Carney had been appointed BoE Governor. Month-end flows probably helped the pound as well. Some of yesterday's gains have been diluted overnight

Source FXPRO

Black Friday online sales reach $1 billion

 

Black Friday retail sales online this year topped $1 billion for the first time ever as more consumers used the Internet do their early holiday shopping, Online sales jumped 26 percent on Black Friday to $1.04 billion , comScore source

Via reuters

Why Binary Forex Options are better than Spot Forex

 

This is most important, the reward to risk ratio on Binaries is FAR FAR superior than Sot Forex. You can buy your typical binary option for $20 per contract (and some you can buy for $5!) This means if you win, you gain 5X your investment, or what you risked! ($20 x 5 = $100) To do this on a Spot Forex Position you would have to travel into positive territory that is five times your stop loss! This rarely happens because the Forex market is like a whipping dragon, and it's hard to tell when a reversal is in progress. Most Spot Forex Traders that I know usually only have a take profit that is around the equivalent of their stop loss. This means that a lot of Spot Forex traders are only gaining what they risk.

You can’t get stopped out in Binary Forex Options. You’ll sleep better at night not having to worry about whether or not your position is going to get stopped out, despite the fact that price is ultimately going in the direction that you thought it was! (You can get timed out, of course, but when you consider there are WEEKLY Binary Forex Options, it's really not a problem.)

There is no sneaky broker problems like in Spot Forex. You don’t have to worry about requotes or widening spreads with Binary Forex Options. And you just don’t have to worry about stop hunting in general.

You can Hedge with a single account with Binaries Forex Options. And because your pay out is so much higher than what you invest/risk, hedging makes perfect sense with Binary Forex Options. Unlike Spot Forex, where the risk to reward ratio is relatively low. If you buy a binary contract for $25 and sell an opposing Binary contract for $25, the payout is $75 even after your losing side fails!

                                                                                                       Discussion here

10 Warren Buffett Quotes You Must Know

1 .“Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.”

2 . “You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.”

3.“  Never invest in a business you can’t understand.”

4  “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”

5. “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”

6. “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”

7. “It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”

8. “Our favorite holding period is forever.”

9. “Only when you combine sound intellect with emotional discipline do you get rational behavior.”

10. “Without passion, you don’t have energy. Without energy, you have nothing.”

  

Gartley pattern Forex Trading

Mr. Gartley draw the pattern and it’s market context/location. In the late 1980 In the book Profitable Patterns for Stock Trading Larry Pesavento assigned certain ratios to define the pattern precisely. He measured each price swing from peak to trough as a certain percentatge of the proceding price swing. Pesavento required these percentages to be Fibonacci ratios: 61.8, 78.6 100, 1.27, 1.618

Problem is that it’s quite rare to see the Gartley pattern with exact precise Pesavento’s Fibonacci ratios. Some % delta or Fibo ranges must be used to expand the acceptable price swings ratios and produce more patterns, more trading opportunities. For example to allow XD retracement to be 57.7 till 88.6 rather than exactly 78.6

The importance and understanding of AB=CD in Gartley pattern

Credit to tradingarsenal