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Bullish and Bearish Pennant Formation

Bullish Pennant is a bullish continuation signal. It is very similar to bull flag formation. It consists of a strong move upwards as a flagpole and a consolidation phase known as pennant. The Pennant is formed when support and resitance level converges and a breakout becomes inevitable. For it to be a proper bullish pennant there can be no more than 30 sessions forming it. So where to enter the market. We enter after a upside breakout and target the height of the flagpole measured up from the bottom of the pennant. If the price breaks to the downside then it is not to be traded.
The Bearish Pennant is the exact opposite of the above pattern. It is a bearish continuation pattern and we can find it after a strong down move called flagpole. We enter the market after a break to the downside and target is height of the flagpole measured down from the top of the pennant.

GBP/USD — Daily Forecast Technical Analysis — October 22nd 2014

Hantec Markets brings you the latest technical analysis on the GBP/USD pair for the October 22nd in this video.
GBP/USD — Again another chart that the dollar has really helped strong rebound on and this is pulling cable lower. The early morning trading yesterday looked like cable was trying to break to the upside. But now it looks like it is coming back down again. The Momentum indicators have started rolling over. So that is a disappointment and the recovery in the last 5 days is now completely blown away. The initial support at 1.6080 and that is now broken. Looks like the dollar is strengthening once again. Looks like we are going to have the retest of 1.6020 key support level. It would be a significant disappointment if it has to be broken. The 1.6226 key high has not yet been tested. It looks like we are rolling over again. If we break below 1.6020 then it brings this recovery phase to an end. So choppy trading continues on this cable chart and it looks like the pressure is to the downside and we can expect a volatile day.

EUR/USD — Daily Forecast Technical Analysis — October 22nd 2014

In this video the Trader Guy looks at currency pair EUR/USD pair for the October 22nd session.
EUR/USD — The EUR/USD has failed yet again exactly at the same level I am talking about for sometime. This has starting to become fairly reliable. We like it when the Forex market behaves like predicted. You can see that the area above has been resistive. So we will continue to sell short term rallies in to this 1.28 region. Another thing I am looking at is the possibility of a bearish flag and a breakdown from here should lead us to atleast 1.25 level. I think thought this pair ultimately goes to 1.20 level. If you are patient enough you can hang on to this trade long term or simply sell rallies going forward. I have no interest in buying the Euro until we get above 1.30 level. I am still bearish and rallies are seen only as selling opportunities in shorter term charts.

The Trader Guy Forex Signals

In this video Trader Guy looks at two options they are offering currently for Forex signals. One is the SMS service and other one is the Daily signal service. The SMS signals are delivered directly to your mobile phone and 24 hours in a day. Also you will have major markets covered. In most countries Internationa texting has been possible in a while. It involves quicker timeframes than daily signals. We have a certain stoploss and take profit levels.
On the daily signals you may have videos and on the website and not a sms signal. These videos talks about stoploss levels and targets. The videos also talk about trade setups in multiple pairs. These videos also involve world wide markes like Gold, Silver and DAX. Being a global trader means you need to be aware of global markets. So we try to encompass the global market because there is no way to trade just one asset anymore in a vaccuum and it just does not exist.

GBP/USD — Daily Forecast Technical Analysis — October 21st 2014

Hantec Markets brings you the latest technical analysis on the GBP/USD pair for the October 21st in this video.
GBP/USD — There was some sign that dollar was turning around and cable was one of those that just suggest that there is something in this correction in the dollar because we have cable in this big downtrend and now breaking this downtrend. We have cable breaking above 1.6226 and that would be the first real time in the whole downtrend, a breach of a key lower high. The move has improved the RSI indicator. Stochastics is rising fairly positively. I am not going to turn positive on cable until we see 1.6226 taken out which is the key level of resistance. Looking at the hourly chart we have seen a fairly nice rebound in cable. Its still in this recovery phase and hourly momentum indicators looking good suggesting we could see a test of 1.6226 soon. If we were to see a break above this level that would open the upside significantly. We can make an argument for a base pattern. There is something potentially underway in cable.

USD/JPY — Daily Forecast Technical Analysis — October 21st 2014

In this video the Trader Guy looks at currency pair USD/JPY pair for the upcoming October 21st session.
USD/JPY — As you can see on the daily chart we did gap a bit higher at the beginning of the week and turned back around and filled that gap. In theory we should have now buyers stepping in to the market place. Having said that it looks like market is more likely to go higher. The 107.00 level looks very supportive as one would have anticipated. This looks like a buy only market as far as I am concerned. I am not selling and looking at this marketplace that has significant support at 105.00 level and with that I am looking for supportive candle inorder to buy. I like to buy dips until we go high as 110.00 level. The Bank of Japan is continue to flood the markets with liquidity trying to devalue the Yen and the Federal Reserve is basically getting out of the Quantitative easing game which could make the US Dollar more attracitive than the Yen. I think we continue to buy on the dips and gradually try to get to 110.00 level. From 110.00 level we could go higher and the target is 115.00 level by the end of this year. Thats the direction I am going and no interest in selling this market.

EUR/USD — Daily Forecast Technical Analysis — October 21st 2014

In this video the Trader Guy looks at currency pair EUR/USD pair for the October 21st session.
EUR/USD — As you can see on the daily chart we did rise a bit during the Monday session but really at this point of time it does not look very signficiant. Its not much of a bounce and the area above is seen as a massive area of resistance. And the monday candle did not tell us anything significant. I am looking for resistance candle in order to start selling. Looks like we are trying to form some sort of rising wedge which is seen as a bearish signal. Looking at the weekly chart we dropped all the way down below the 61.8% Fib level to 1.25 level and we formed a shooting star last week. It looks like we are going to experience continued selling pressure here. I don’t know we are going to melt down or anything with this pair but I think we are going to make another attempt to 1.25 level. If we break below this level we are going to see probably 1.20 level. I am very bearish of this market. I don’t see any reason to go long until we get above 1.30 level. So I look for resistance candle to sell this market as the market should once again drop back atleast to 1.25 level.

Daily Forex Trading News — October 20th 2014

The US Dollar as well as other major currencies such as Aussie dollar and New Zealand dollar did well at the start of the week helped by positive sentiment. Following strong economic data out of United States such as University of Michigan Consumer Confidence and Preliminary number, the US Stock market closed with sharp gains on Friday. The Yen fell as dollar climbed to a high of 107.38 before falling back to 107.35. The Japanese stocks were up sharply as the Nikkei 225 was high by 4% due to the strength of the risk rebound. The US Dollar also fell and extended slightly most of its gains against the Euro as it drove the rate of EUR/USD back down 1.2745. The Pound was trying to hold at 1.61 against the US Dollar on Friday hurt due to global economic outlook from BOE and then recovered due to statements from BOE. Tommorrow will be interesting to watch as third quarter GDP of China will be released.

Is Forex Investment Safe

You will see advertisements for Forex investment just about everywhere. But what is Forex. Is it really profitable. Forex is a way of making money by exchanging Foreign currencies, similar to trading Stocks in Stock exchange. It would be possible to invest in currencies for the medium to long term if you believe if a particular country’s currency is going to rise or fall over a period of time. However this is not what most people do and this is not what the ads that you are are for. Most people use trading techniques to try to make smaller profits over a short time. Often a trader will enter the market to open a trade and close it again with in minutes. He may be buying a currency that he thinks will rise or sell that he believes that will fall. He watch the markets until he see a pattern or trend is forming and then he jumps in.
The technique of making money with currency trading has opened up for the private investor in the past few years. With high speed internet connection you can begin forex trading with just a few 100 dollars. There are many systems that you can follow which will help you learn to become a successful Forex trader. You need certain skills to survive in the Foreign exchange markets and also you need a lot of self discipline. These can be learned or developed if you do not have them already but it can take time to become successful. World events can have a big effect on the currency markets and sometimes they are completely unpredictable. Put stops in place to make sure that your trade is automatically closed if the market suddenly goes against you and losses must be balanced against potential gains. Be prepared to spend some time learning how to manage your currency trades.

Bear Flag Pattern

A Bear flag is a bearish continuation pattern. It comes after a strong move downwards. It consists of a flag pole as a strong move to the downside and a consolidation phase which is known as the flag. For it to be a proper bear flag the 2 lines forming the flag need to be parallel and often will be sloping upwards. There are 2 basic approaches to enter market with this pattern. Aggressive traders will enter at the top of the flag for maximum profit. Conservative traders will wait for the price to break out of the formation and only then enter the market. The price target for this formation should be height of the flagpole measured down from teh top of the flag.

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