FibMarkets.com

I wasn’t very confident about this trade setup last week, but I did mention that we could get some short trades, and marked the chart with some blue lines. The trade worked out better than I expected!

I hope some of you profited. See the two images below. One on the left is from the video update last Thursday, the other is the chart of tonight. That’s about 100 bankable pips…

These are trades that Daily Forex Chart members receive in their inbox daily. Click here to learn more about the benefits of being a Daily Forex Chart member.

 

TradingSolutions: Trade with intelligence! Free Software Download.

Earlier this week, we post included a great AUD/JPY chart.  What a fantastic week this as been.  And it’s not over yet!

We have another trade setup for the EUR/USD tonight, for members only.  We can’t show you everything that our Daily Forex Chart members see, but we can show you this great USD/JPY chart.   See how the Yen rallies right up to my predicted resistance level and turns on command!

Click here to watch this video to see how to trade this chart now.

Year 2010 is off to a good start as Daily Forex Charts has been watching the latest movements in AUDJPY! See how we identified a trade set up earlier this week and how to this AUD/JPY chart.

At Daily Forex Charts, we analyze the FOREX markets and find these potential trades for you! Right now, you can receive my daily updates and analysis of the market for just $9.95 for the 1st two weeks!

As a member, you will also have access to our Fibonacci Trading forum where you can get feedback on your trades and join us in live interactive chat sessions. Click here for more
information on how to join today.

It’s that time of year again.  Time for friends, holidays, family, and tax planning! Unless you plan properly, taxes can be an excessively large part of your operating costs.   Tax issues for traders are complex, and finding the right answers to your questions can be difficult.

You can learn more about tax issues for traders and how to manage them in an upcoming free webinar, hosted by Jim Crimmins.   Jim is an expert on trader taxation and strategy, and has helped many traders.

If there is a way for you to take advantage of the tax regulations, Jim can tell you how!   I’ve known Jim Crimmins for years and have no hesitation in recommending that you talk to him about trading tax issues.

Here are the webinar details:

 

Topic: Increase Cash Flow With Tax Efficient Trading

Date and Time: December 14th & 17th, 4:30 – 6:00 PM EST

Description: Part of the survival for any successful trader is cash flow management. The largest expense a trader has whether the trader makes or loses money is taxes. Every dollar we spend on taxes means we have one less dollar to trade with. With this in mind it is obvious that as traders we have the obligation to do everything possible to keep as much money in our brokerage accounts as possible.

Register here: https://www2.gotomeeting.com/register/726312786

Trade Well,

Neal Hughes “FibMaster”

FibMarkets.com

Hi Neal,

For example, we see strong upward move on 30 min chart, which is proved by TRSI. On 5 min we do not have retracement on one of the relevant Fib levels. Example is Cable up move 02/12 from 1.6555.

How do you usually handle with this situation?

Thanks,
Igor

A trader in Russia recently sent me this great question about GBPUSD, which prompted me to make a video lesson. Click the link below to see a brief introduction video lesson that I’ve made available.

See how we take advantage of a trend and how we enter to capture the move. There are many ways to enter and exit a trade. In this video, I focus on the simplest and most beneficial strategy.

 

For experienced Fibonacci traders and members at DailyForexCharts.com, there is a more advanced, detailed video lesson available. If you are not a Daily Forex Chart member, click here to see how you can join for 2 weeks for just $9.95.

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Below are trades and comments from members at FibMaster’s Trading Forum.<<-Click to join

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Originally posted by “Lifesong”; Wed Nov 25, 2009 7:25 am

 

Perhaps a little late on this post, but I’ve been following a H&S pattern on the Daily since late Oct ‘09 and waited for the retracement back to the neckline (classic throwback). This occured just over a week ago and I entered the trade on Nov 18th. Herewith my analysis (see chart which was analysed on Nov 5th):

The H&S pattern is marked on the chart and I waited for retracement back to neckline @ 1.2430 level and this also came close to 4h SK support zone @ 1.2385 level. On Nov 18th I noted that a double bottom formed on 4h chart @ 1.2440 level and I entered 60min TRSI X-up @ 1.2465 with initial stop below right shoulder @ 1.2180 level. My first objective with this trade is previous swing highs @ 1.2680 level and longer term second objective is SH of Apr 30th @ 1.2935 which will also coincide with 161.8 Fib expansion of swings at the bottom of the Daily chart.

Any comments or recommendations?

 

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Originally posted by “FibMaster”; Wed Dec 02, 2009 5:14 am

 

It’s been as high as 1.2820 so far. Good call. Are you still in it? Weekly trend still strong attached), daily showing possible retracement to begin here.

 

 

 

 

 

 

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Originally posted by “Lifesong”; Thu Dec 03, 2009 12:55 am

 

Hi Neal

Thanks for the reply and I closed 2/3 of my position yesterday with just over 300 pip profit @ 1.2790, because of possible double top on 4h chart and the fact that Daily is showing signs of retracement. For the remaining 1/3 of my initial position I moved stop to just below 1.2650 (previous SH) and this is also current SK support on 4h chart. If it is stopped out it’s okay, otherwise I’ll keep it running for possible break of 1.2820 level.

 

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*”My long trade in EUR/USD at 1.4986 as made about 30 pips for now….:) and your article about Fibonacci techniques are great and very amazing…!!”*
This was a recent quote from trader “Haryo” on my Fibonacci Trading Facebook Page.

 

Through my Daily Forex Charts service, I work with traders on a daily basis- discussing strategies using my Fibonacci techniques and applying them to the current markets. I can’t even begin to tell how rewarding it is for me to see these strategies work time and time again.

Recently, I made a short video lesson to share with you how my Fibonacci techniques can make your trades profitable. This video lesson is based on a GBP/USD 4 hour chart that I recently posted to my Fibonacci Trading Facebook Page when the trade opportunity was setting up. See that chart which was posted before the (predicted) trade.

 

Click here to see the Fibonacci Trading Made Easy lesson, showing my Fibonacci techniques in action.

It’s the day before Thanksgiving Holiday, a long weekend break for many traders. Best wishes to all our readers in the USA.

-Neal Hughes “FibMaster”

 

Since I started trading almost 30 years ago, I’ve learn many things about trading, and I’ve struggled with just about all the problems that traders can encounter. My hope is that these web pages will help traders who are serious about their goals to define an effective trading plan and to benefit from my experiences.

If you don’t have a trading plan, I encourage you to set aside some time and give it serious thought. To help you improve your trading with my Fibonacci Trading Techniques, use the outline on the following website to define your own trading plan;
http://www.fibonaccitrading.com/

 

There are only two more FibMaster learning opportunities left this year. Only a few seats remain in each of my 2 upcoming seminars.

These last two seminars are the most powerful of my live seminars as they pull together all the information from my other seminars. If you’ve not attended these seminars before, you’ll want to take advantage of this learning opportunity today.

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Seminar: Price Action, Read the Markets. Putting it All Together.

When: Saturday, Nov 14th 2009, 11:00 a.m. EST

Description: These techniques can give you powerful tools to evaluate the underlying strength of the market, so you can make better trading decisions.

See Fibonacci Seminar/Webinar Outline and Register here.

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Seminar: TRSI Trading

When: Saturday, Dec 5th 2009, 11:00 a.m. EST

Description: The TRSI is a powerful tool when used in combination with Fibonacci levels. It can provide reliable entry and exit triggers, and also tell you which way the market is heading (trend).

See Fibonacci Seminar/Webinar Outline and Register here.

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My live seminar series is only offered a couple of times a year and will not be available until next Spring. Don’t delay, register today to secure your spot in these seminars.

-Neal Hughes (FibMaster)

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Below are trades and comments from members at FibMaster’s Trading Forum.<<-Click to join

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Originally posted by “Hussam”; Thu Nov 05, 2009 10:05 am

 

Hi,

4 Hour resisting at 0.618 and TRSI resisting at 60. The 1 Hour TRSI crossed down from above 60 to 58 level. If the 4 Hour crosses down, I would take a short to the support uptrend line. I realize that Daily TRSI is up, however, Weekly is still down. With both 4 and 1 hour crossing down, should be good enough, I think. Any thoughts ?
NOTE : Daily Slow TRSI is down. I guess that counts for something !!
Thanks,
Hussam.

Click image to enlarge

Click image to enlarge

 

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Originally posted by “Bert”; Fri Nov 06, 2009 5:14 am

 

Hussam it’s been tough to call, possible short (against the flattened up trend) near 5min SK at 1.4885 to 1.4835 area. Stop above prior 60 min candle…Also there is 30min support SK at 1.4868 so caution there.
Attached charts

Click image to enlarge

Click image to enlarge

 

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Originally posted by “Hussam”; Fri Nov 06, 2009 5:54 am

 

Hi Bert,

Thanks. I agree with you. Anyway, the scenario didn’t materialize. In fact, the opposite happened. 4 Hour TRSI crossed up and above 60 level. However, the 0.618 resistance is still holding. I think we are in a hold pattern for NFP in 36 minutes from now. At the end of day, it will follow the DOW, I guess.

Good Luck,
Hussam.

 

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Originally posted by “Bert”; Fri Nov 06, 2009 6:38 am

 

I know it was tough cause being so close to the news…but it worked like a champ for 40 pips! Entry was right after rejection at SK (abit late at 1.4876 and exited at 1.4836…Only used fib and TRSI for trade…Hopefully this one gets a “Fibmaster Approved” trade.

Thanks!
Al Bert

Click image to enlarge

Click image to enlarge

 

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Originally posted by “Bert”; Fri Nov 06, 2009 8:17 am

 

This is why I exited as I did…also why I struggle holding a trade very long. 30-60 min bull gartley was identified and although I should have bought, It’s tough to buy against the indicators, so let that one go.

Thanks!
Al Bert

 

 

 

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Originally posted by “Hussam”; Fri Nov 06, 2009 8:25 am

 

Hi Bert,

Very gutsy. I don’t trade the news. Now I am watching what will happen with the 240 Min 0.618 Fib resistance at 1.4896 It’s still holding while TRSI pushed above 60 level.. Quite interesting. Let’s see who gives up.

Regards,
Hussam.

 

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Originally posted by “Bert”; Fri Nov 06, 2009 8:31 am

 

Thanks Hussam, I don’t like to trade news either and it wasnt my intent but was already “committed” after my sell at SK so kept a 20 pip stop and went for 40, I also took 2/3 of trade off at 20 pips to lower risk…It was purely done by indicator and SK but the real trade was the buy with the bull gartly, It could have been done with a stop just below 1.48 but you had to be fast…AND THAT ONE WOULD HAVE BEEN GUTSY!

Have a great weekend

 

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Originally posted by “FibMaster”; Wed Nov 11, 2009 6:26 am

 

Good job following the system, 40 pips is 40 pips!

 

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