The EURUSD Violated a Major Support Level

Last week the EURUSD was finally able to break the 1.1665 support level which is also the neckline of a Head and Shoulder Pattern. This week,  i'll be looking for a pullback to previous support which hopefully should act as  resistance for a sell opportunity to ride the market lower. The next level of support is the 1.1400 level.

I made 135 pips from this trade

Hello Traders, i thought i should share the screenshot of a trade i took on the NZDUSD pair 4hr chart. This was strictly based on price action and i made a total of 135 pips risking just 40 pips

This trade gave me a reward/risk ratio of 3.375:1. if you would like to learn more on how you can get involved in trading opportunities like this, stay tuned to this blog as i will be sharing more information about it very soon. Cheers!!!

Another Bitcoin Retracement on the way?

The Bitcoin has exceeded our expectation and has been steadily trading north, we recently exceeded the $6000 dollar price mark.

But as you know, markets don't just continue going straight up or straight down, at some point the market is bound to give back some gains.

Right now from the technical point of view, we may have reached a very critical level in the market.
1. we just completed AB=CD harmonic move
2. There a confluence of 1.414 extenstion and 1.618 fib inversion.
3. The RSI indication is showing bearish divergence.

We are begining to see a reaction at that level. if it holds there are two possible levels price could trade to and find support.

The first level of support is  $4950 level and the second is the $3250. if the market is able to get to the 3250 level, it would be in confluence with the 200 EMA.

For now all we can do is watch what the markets decides to do and look for any high probability opportunity to get involved.

Bitcoin Crash or Just a Retracement?

For those of you wondering why the Bitcoin lost some ground in the last few hours, the reason is simple. If you trade the currency markets using technical analysis you will realize that the Bitcoin is currently at a decision level i.e it is testing previous high point. In November 2013 the Bitcoin reached a high of about $1090 dollars per Bitcoin. It then fell and continued falling until it was valued at $172 dollars per Bitcoin.

 In November 2015 it then picked up momentum and since then the Bitcoin has been bullish moving up). Now we are back to that same level of 2013. Two things can happen. The Bitcoin price could drop a little lower to maybe the $779.50 support level before continuing to push higher or we could miraculously break though the previous high and keep moving up.

Only the market can decide where it wants to go but Just understand that markets don't just move straight up or down It usually ebbs and flows.

Update!
I shared this at the beginning of the year with some Bitcoin investors on our Telegram group. This was just my own view based of the technical analysis that i performed.
 Fast forward a few weeks later...

As You can see, the 779.50 was respected and the market has started moved up. Will this move be sustained and are we going to break the previous highs? the truth is "i don't know" only the market knows that. But its just good to know how accurate your predictions can be once you master the art of technical analysis.

Tips to ensure your long term success in the currency market

• Plan every trade on paper before entering it
• Set clear goals : daily, weekly, monthly, yearly
• Journal every trade
• Master the basics, and practice key skills to build competence
• Stick with what you know, don’t try anything fancy without being comfortable first
• Keep a journal to build on success and learn from mistakes
• Monitor yourself and develop yourself
• Study and learn continually with focus on full comprehension
•  Manage your money and risk constantly
•  Keep your pride and ego in check, they won’t make you money
•  Keep a clear head and listen to it, but don’t get caught up in emotions. Stay objective.
•  Keep your awareness high, especially regarding time. This is a marathon not a sprint.
• Keep respect for the market, yourself, and your money.
• Think every trade all the way through, including all possibilities.
• Review your trades, your journal, your goals, and your milestones on a regular basis. Build on success and avoid the same mistakes.
•  Do your trading in an organized place and adhere to your policies and this success sheet
• Run your trading the same way you’d run your business. It is YOUR BUSINESS.

Consolidation Breathes Advanced Patterns

Hello traders, I just wanted to share the chart with you just to show that there are always opportunities in the market if you know what you are looking for as you may have noticed the EURUSD along with many of the major currency pairs have not been doing too well through out the month of August even going into September where we thought that volatility was going to increase and the market would pick up. Well, nonetheless, those who trade advanced patterns have been smiling to the bank. We had 5 advanced patterns back to back on the 240 mins chart within an area of consolidation. 2 Bat patterns, 2 Gartley patterns and 1 Cypher pattern with all of them except the first bat pattern hitting target one and target two. Please take note that this is a higher time frame. (Swing trading Timeframe). If you were to drop down to a lower time frame, you would definitely have gotten more opportunities.
If you are interested in learning more about this stuff send me an e-mail or drop a comment below.
 Thank you.

Four Emotions That can Improve Your Trading Results

 This write up was inspired by one of  Late Jim Rohn's work. Titled "The four Emotions that can change your life". after watching the video, i decided to apply it to my trading . I used it to make some changes to my trading mindset that really impacted  trading results positively.
So today i'm sharing  those ideas with you hoping that it will help you improve on your trading as well. 

Disgust
 
1.    I am disgusted with having to work 9-5 every day 
       with no freedom to go where I want when I want
       with whoever I want.
 
2.    I am disgusted with my previous undisciplined 
       attempts to trading and want to move forward in 
       a more disciplined and business like manner.
 
3.    I am disgusted with being limited by the money 
       I can earn   at my current job.

Decision
 
1.    I have decided to do whatever it takes to become a 
       consistently profitable trader.
 
2.    I’m going to block out all distractions, read more
       trading related books,attend seminars, and connect 
       with people that could help me reach professional
       trading  status a lot faster.
 
3.    I will create a detailed business plan for my 
       Forex trading business.
 
4.    I’ll set goals for myself on how to consistently improve 
       on my trading skills.
 
5.    I’ll check and monitor my progress as I become better.

Desire

1.    I desire to become a consistently profitable trader.
 
2.    I want to prove to myself and others that it is possible 
       to place  trades without making a series of potential 
        execution errors.
3.    I desire to become the best currency trader in the world.
 
4.    I want to inspire others and teach them to become 
        profitable currency traders.
 
5.    I want to live a life where money becomes the least 
       of my worries

Resolve
 
1.    I will do whatever it takes to become consistently 
       profitable in my trading

2.    I will not quit no matter how hard it gets
 
3.    I will develop myself towards becoming better than
       i was the day before.
 
4.    I resolve to learn all that I can from those who
       have become successful in Forex trading
 
5.    I promise myself that I will never give up.