TradersClassroom

TradersClassroom

The Euro just broke out of the range and has put in a new high. Right now it may be pulling back a touch. I will be looking to buy in the 138 area with targets of 140 and 142. My stop is going to be around 137.40. I will monitor this and even drop down to a lower time frame in order to find price action that hints at a reversal. Good Luck!

TradersClassroom

There is a butterfly pattern setting up on EURUSD. Look to get short around the 2990 area with targets at 2940 and 2908. We discuss this and more in this weeks Weekend Preview here: www.youtube.com

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The GBP put in a bullish engulfing candle last week. Currently this pair has been in a range but looks to have broken out. We favor the top side here. We discuss this and more in the Weekend Preview here: www.youtube.com

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AUDUSD has been in a downtrend. We are currently at trend line resistance. Will this area hold or not? Here are a couple scenarios but I tend to favor the continued decline and break of the trendline. We talk about this and more in our Weekend Preview here: www.youtube.com

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This pair has been ranging a bit the last few weeks. I'm still long and looking for it to break the wedge.

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We are right at the divergence line. Time to see if it holds. Pretty good risk reward if you're into that kind of thing.

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This pair gapped down pretty big over the weekend. Gaps almost always fill, its just a matter of how long it takes and how much floating loss you can handle. I think after the doji and bullish candle, now could be the time. We discuss this in our Mid-Week Update here: www.youtube.com

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This pair put in a head and shoulder completion over the last couple of days. It has retreated back to the neckline and looks like a good entry point. This thing can move all the way up to 1.1250 area. Im holding long here. We discuss this in our Mid-Week Update here: www.youtube.com

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This pair has been stuck in a channel for quite some time. I have been playing it back and forth the last few times and will give it another go. Range bound trading offers good risk/rewards so if I get stopped out then no biggie. We discuss this in our Mid-Week Update here: www.youtube.com

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Looking to short this pair on completion of the Butterfly Pattern. The two targets are outlined on the chart. I usually take off half my position and roll my stops to break even at target 1. We talk about this in our Mid-Week Update here: www.youtube.com

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USDCAD is currently in the process of making a head and shoulder pattern. The pattern is a little over 300 pips in height. That would put it up around the highest high. Look for a break of the neckline around 0941 Happy Trading ------------------------------------------------------------------------ Connect with us: Website: www.fxtradersclassroom.com Twitter:...

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During this weeks Weekend Preview I gave out a free simple trading strategy. This chart on EURCAD shows a good entry for this strategy. The rules for trading the strategy are as follows: Any Timeframe Any Currency Indicators Needed: 5 EMA, 10 EMA, Stochastic (14, 3, 3), RSI (14, Close) Buying Entry Rules: Buy when 5 EMA crosses above 10 EMA and RSI is above 50....

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The bullish bat that we signaled the other day was just filled. Currently in the profit but we will see how long we stay there. We will see how this plays out. Happy Trading! Stop: 1.9585 Entry: 1.9641 TP1: 1.9751 TP2: 1.9820 ------------------------------------------------------------------------- Connect: Website: www.fxtradersclassroom.com Email:...

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The yen has bounced of the resistance area we pointed out in the past few days. The strong resistance along with bearish divergence gave us a good signal for entry. We are currently continuing to hold this post ECB to see if it will break and close below the blue line at 136.32. A break and close below this line would help sign some more downside. BE CAUTIOUS!...

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Here are a few bat patterns setting up on GBPNZD. I think it is more likely the bullish bat gets hit but we'll wait and see and trade which one gets hit first. I walk through this setup in my MId-Week Update. Feel free to watch it here: www.youtube.com Happy Trading! ------------------------------------------------------------------------- Website:...

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This pair has had one of the largest moves of the day. Currently pushing into the major psychological at 138. It is also pressing into a resistance point that has rejected it twice. Could be a triple top leading to a horizontal channel. If it breaks and closes above 138 then I see a little more upside before a pull back and a continued move north. Happy...

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USD/JPY has broken previous weeks highs and is heading towards previous months highs near 105.40's. With price in the upper 104's and resistance at 105.40's, I'd expect it to get to the 105.40's before finally pulling back a little bit. The pair looks nearly exhausted. RSI is currently near 86. Look for a pullback before more US strength versus the Yen. Happy...

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USD/CAD has retraced a little bit over the last couple of days. On Thursday we saw the hammer followed by an up day. We are currently trading down but everything below 0860 has been sucked back up. Three consecutive days of this. With a gap down if we can cover this gap by the end of the day I think this is a strong buy signal. I'm in at 0857. Happy...