Tuesday, January 26, 2016

Gold Is Taking Off!

Someone Is Buying Big Time

In the past few hours Gold has had a dramatic rise in price.

Here is a one hour chart showing how the day started with a rise and then a couple hours where it went back and forth and then it started to shoot upwards.


Gold Analysis, Ichimoku Trading Strategy as at January 26, 2016

Gold Price Analysis Using the Ichimoku Trading Strategy Will Not Be Positive.


The Tenkan sen (red) has crossed up over the Kijun sen (blue) as if to give a bullish signal.

DaveM-0011

Monday, January 25, 2016

Crude Oil Price Moving Higher Overnight

Considering forthcoming EU stimulus programs and colder weather stimulating demand, Crude oil is moving higher.

DaveM-0009


Sunday, January 24, 2016

Gold Price Technical Analysis As At January 24, 2016

3 Looks at Gold Technical Analysis: Ichimoku, Fibonacci Patterns, Support and Resistance

Ichimoku Kinko Hyo
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This is a Daily Chart of Gold and you can see that Gold Price is trapped within the Ichimoku Cloud.



Friday, January 22, 2016

Divergence Trading Strategy With Renko Bars and The Awesome Oscillator

This Renko Divergence Trading Strategy is most simple!


We are going to use a Renko Chart and the Awesome Oscillator to demonstrate this Trading Strategy as shown in this chart.


Image showing Renko Chart and Awesome Oscillator

Thursday, January 21, 2016

Ichimoku Trading Strategy

What Is Ichimoku Kinko Hyo?

Ichimoku Kinko Hyo is an approach to a trading strategy that combines a series of moving averages. While its display on a chart may be overwhelming at first glance, an experienced user can quickly determine the position of the market from the display.

DaveM-0059


Lets examine the components of the Ichimoku Trading Strategy.

Wednesday, January 20, 2016

Fibonacci Patterns January 20, 2016 Crude Oil

Interesting Fibonacci Patterns on Crude Oil


Crude Oil today has taken one terrible pounding and brought world markets down by a huge amount. There is tremendous apprehension as to what will follow as the new day begins in Asia.
Some important developments are revealed on the technical charts. Have a look at these Fibonacci Patterns.


First the Daily Chart


Image Fibonacci Pattern, bullish AB=CD





Tuesday, January 19, 2016

Does Fibonacci Show A Recovery Coming For Crude Oil?

World Economy Has Been Strangled By The Price Of Crude.


Politicians around the world may be getting a break soon from their failing economies. The Fibonacci Patterns are showing that better days are coming for crude oil.

Maybe Light At The End Of The Tunnel


The Fibonacci Pattern shown on this chart is the very reliable AB=CD pattern and is a strong indication that the market will turn bullish.

Fibonacci Patterns as at January 19, 2016

This video shows some current Fibonacci Patterns in place as January 19, 2016.


video


These patterns are definitely not foolproof, however they do give an indication as to what may be occurring in the near future.

Any entry would have to be confirmed by price action or by other indicators.

Here is another video showing patterns on daily charts.

Trading Strategy

A summary of Trading Strategy posts.


January 16, 2016

Renko Ichimoku Trading Strategy as at January 15, 2016

Showing some entries using the Ichimoku Cloud
Read More

January 4, 2016

CCI Scalping, Revisiting the CCI SlingShot

Using the CCI6 and CCI14 to make continuation entries
Read More

CCI Divergences to Have a Look At January 4, 2016

CCI Divergence Entries
ReadMore

December 24, 2015

Ichimoku Renko Trading Strategy (2)

Current entries using this strategy
Read More

April 5, 2014

Bill Williams Alligator (Chaos) System
An Introduction to this old favorite and Automated with Forex Strategy Builder
Read More

April 4, 2014 

Forex Trading Strategies

An introduction into the prospective coverage areas of this blog, Trading Strategies.

Read More

Bline System

An excellent Day Trading Strategy that emphasizes the usage of Stochastics

Monday, January 18, 2016

FTSE IS Showing a Bullish Alt Three Drives Pattern

This Fibonacci Pattern on the 240 minute chart could be showing the end of the drop in the FTSE.


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The Bullish Alt 3 Drives Fibonacci Pattern, not as precise as the regular 3 Drives Pattern is nonethe less based on significant Fibonacci numbers.

Saturday, January 16, 2016

Renko Ichimoku Trading Strategy As At January 15, 2016

Three Trades as Easy As Pie!


This is one of the simplest trading strategies. The Renko Ichimoku  strategy requires very little in the way of indicators and, as you can see, it is a visual technique.




Thursday, January 14, 2016

Who Needs A Trading Plan?

One of the greatest tools that a trader can use is a trading plan.

A trading plan is similar to a map. It will help us get to our goal.

The markets offer many alternatives and many distractions daily. A trading plan can be like a ship's rudder and help us to stay on course.

I have made a couple lists with some criteria that you can maybe use to evaluate and construct your trading plan.


Tuesday, January 12, 2016

Canadian Loonie Being Demolished


DaveM-0297


A Disaster for Canadians


The victim of ten years of atrocious economic management and deliberate obfuscation by supposed economists and petrostate illusionists, Canada is now in a deep hole.

Monday, January 11, 2016

10 More Questions To Ask Your Forex Broker

How Well Do You Know Your Broker?






15 Questions To Ask Your Broker

How Well Do You Know Your Broker?


As we go about our trading business from day to day, we probably do not pay much attention to the qualities of the broker we use.
We have little or no idea as to where their office is, where their bank is, or how safe our funds are.
We do know that the broker has a fancy website that promises all sorts of good things, and we have no idea if any of it is true.






Sunday, January 10, 2016

Gold Price Analysis As At January 10, 2016


The past week has seen a lot of fluctuation in the Gold Price and there has been news as to China purchasing a gold vault at the London Metals exchange which would indicate more participation by that country in the gold markets.

I am attaching a chart of Gold showing a bearish Shark Pattern which may be a good indication that we will see the price of the metal fall in coming days



DaveM-0288







Friday, January 8, 2016

Gold Analysis As At January 8, 2016



Which Direction For Gold? What Analysis Is Best?


With the Gold price closing today at approximately $1,104.00 many people are starting to wonder the longer term direction. There are bearish and bullish factors to be included in any analysis.
The Federal Reserve is scheduling rate increases for 2016 and those may be bearish for the Gold price.
"The United States continued to import large volumes of gold jewelry in October," Erica Rannestad, senior analyst of precious metals demand at GFMS, said in an email late on Wednesday.

16 Great Trading Books


From time to time every trader questions his trading strategy and is seeking answers as to how to improve it.

Answers are not always easy to find and we have to look outside of ourselves to find them.

Resources can be the internet or forums or our trader friends… or……. books.

I have compiled a list of books by some very well known authors which I am sharing below.

Thursday, January 7, 2016

Gold Prices Are Quickly Moving Higher











Will the Price Break Through the $1,100.00 Level?






Uproar in World Currency Markets As Yuan Is Devalued

It will be important to adjust your trading strategy this morning as world markets appear to be in a state of flux.

China has seen a deterioration in their markets and as a result has stopped trading.

European Markets seem to be weak and falling and it may well be that these conditions will prevail when New York opens as well.

Monday, January 4, 2016

CCI Scalping, Revisiting the CCI SlingShot



A few months ago I mentioned The CCI Slingshot and there seems to be quite an interest in this trading strategy.

This formation is quite common on several time frames and can be made to be profitable with adherence to some rules.

This is a trend following trade and is used for a continuation entry.


China markets weak

Global stocks sink, China stock trading halted after share prices dive
http://www.cbc.ca/news/business/china-stock-prices-1.3388119
Shared via the CBC News Android App

Another Simple CCI Scalping Strategy


CCI makes an excellent scalping tool, especially if you can be patient enough to wait until a divergence shows up.

To make this a little more reliable you can add a RSI indicator to the chart and check for divergences with it also.

In this example we can use CC!7 and RSI7 and that is about all we need to locate Regular Divergences.

Keep in mind that Divergences do not always work, Stop Loss is essential.

For this type of trading I use a 15 minute chart.

Here are three examples that you can have a look at and then adapt your trading style to suit.

Again, a Stop Loss is necessary. and definitely do not ‘Bet the Farm’ using this type of method.

DaveM-0260



DaveM-0261




DaveM-0262


CCI Divergences to Have a Look At January 4, 2016


Here are some current regular divergences you may be able to take advantage of.

I like to use the CCI regular divergences to find trend reversals, they work out much of the time.

Probably you will want to confirm by using other indicators or approaches.

Here are four charts that I located with regular divergences at this time.


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There may be some opportunities with these, and certainly more CCI Divergences will appear as the day passes.

Good Trading!

Sunday, January 3, 2016

EURUSD As At January 4, 2016



The EURUSD pair has been in a decline for a while however as the market opened today there was a slight rise as you will see on this 60 minute chart.


DaveM-0255



A lot is unknown about the direction although many people seem to be bearish as you will see in the articles I have listed below. There is a lot to consider based on the Middle East situation, interest rates in the United States and the general world economy which has not shown much in the way of advances in recent months.

The oil market is hampering many of the major economies and it seems that oil is going to maintain a depressed price level for months to come.

As the US economy continues to improve, the Dollar is rising and putting more pressure on the Euro.

Here are some comments which offer varying opinions:


EUR/USD: There's No Hiding from a Euro to Dollar Collapse - Profit Confidential
Sun, 03 Jan 2016 11:01:04 GMT
EUR/USD: There's No Hiding from a Euro to Dollar CollapseProfit ConfidentialIn turbulent times of geopolitical strife, important issues about economics get pushed into the backdrop of our perception, and that makes forecasting the EUR/USD pair diffic ...
Read more ...
 
 
EURUSD Bear Pressure Builds Up On 1.0795 Level - Forex Crunch
Mon, 04 Jan 2016 00:19:00 GMT
Forex CrunchEURUSD Bear Pressure Builds Up On 1.0795 LevelForex CrunchEURUSD: With a reversal of almost all of its previous week seen the past week, EURUSD bear pressure builds up on 1.0795 level. On the down, support is located at the 1.0795 level a ...
Read more ...
 
 
Barclays on EUR/USD for this week, and also their "Trade for the week ahead" - ForexLive
Mon, 04 Jan 2016 00:03:39 GMT
Barclays on EUR/USD for this week, and also their "Trade for the week ahead"ForexLiveFX market liquidity dropped materially into year-end, with average daily EURUSD volumes about 1/3 of their 2015 average according to our VolT data. Our data also sug ...
Read more ...
 
 
Barclays on EUR/USD for this week, and also their "Trade for the week ahead" - ForexLive
Mon, 04 Jan 2016 00:03:39 GMT
Barclays on EUR/USD for this week, and also their "Trade for the week ahead"ForexLiveFX market liquidity dropped materially into year-end, with average daily EURUSD volumes about 1/3 of their 2015 average according to our VolT data. Our data also sug ...
Read more ...
 
 
EUR/USD: Get Ready For 'Groundhog Day' - Barclays - eFXnews
Sun, 03 Jan 2016 23:23:29 GMT
EUR/USD: Get Ready For 'Groundhog Day' - BarclayseFXnews"FX market liquidity dropped materially into year-end, with average daily EURUSD volumes about 1/3 of their 2015 average according to our VolT data. Our data also suggest, however, that activity ...
Read more ...
 
 
EUR/USD Forecast Jan. 4-8 - Forex Crunch
Sat, 02 Jan 2016 11:42:11 GMT
Forex CrunchEUR/USD Forecast Jan. 4-8Forex CrunchEUR/USD slipped within the range in the close of 2015, erasing previous gains. 2016 begins with a busy calendar: PMIs and inflation data stand out as liquidity returns. Will the pair continue falling i ...
Read more ...
 
 
EURUSD 2016 Forex Forecast January 3 2016 - DailyForex.com
Sun, 03 Jan 2016 06:00:40 GMT
DailyForex.comEURUSD 2016 Forex Forecast January 3 2016DailyForex.comThe EUR/USD pair is one that has been very choppy for most of the year, and I believe that will more than likely continue to be the way. After all, you can think about several diffe ...
Read more ...
 
 
EURUSD: Getting a Handle on December Volatility - Elliott Wave
Wed, 30 Dec 2015 21:14:41 GMT
DailyFXEURUSD: Getting a Handle on December VolatilityElliott WaveTrading a trendless market is very difficult, so come December, I scale way back.” Love or hate December's infamous volatility, if you choose to trade this month, you have to deal with ...
Read more ...












































Gold Price Analysis As At January 4, 2016



How Do We Determine Gold Price Direction?

The Gold Price is difficult to forecast at this time as there are many factors in play.
Gold has been trading quietly recently and any gold analysis is going to have to be a bit speculative as no direction has been established except for bearish.

Recent developments in the Middle East have triggered a rise in the market today, we will have to wait to see if it is going to be significant.

A Technical Look at the Gold Price.



I have three charts to look at, they all show similar.

DaveM-0252

Canadian Dollar Update As At January 3, 2016





Of course the Canadian Dollar is feeling the effects of a failing economy based on someone’s dream about becoming a petrostate.

One interesting thing about petrostates is that in most of them poverty abounds.

Another interesting thing is that most petrostates are dictatorships.

And Canada was headed that way until the recent election that saw the fanatics removed from power.
Canada has a long way to go to recover from ten years of mismanagement, the current oil price has damaged all of Canada.

Here are some recent articles offering various opinions as to the future of the loonie:


CAD to USD: Why Hedge Funds See More Downside for Canadian Dollar - Profit Confidential
Sat, 02 Jan 2016 12:02:44 GMT
Profit ConfidentialCAD to USD: Why Hedge Funds See More Downside for Canadian DollarProfit ConfidentialCanadian newspaper The Globe & Mail reported this week that hedge funds are shorting the Canadian dollar. According to data released by the Commodi ...

Read more ...
 
 
Falling oil prices and stalled economy make 2015 a year to forget - CBC.ca
Thu, 31 Dec 2015 15:25:21 GMT
CBC.caFalling oil prices and stalled economy make 2015 a year to forgetCBC.caBut that's cold comfort for investors who remember oil prices above $100 US a barrel less than 18 months ago. Oil's slide has been devastating news for the Canadian dollar, ...
Read more ...
 
 
CAD to USD: Could the Canadian Dollar Slide Another 19.0%? - Profit Confidential
Thu, 31 Dec 2015 12:01:50 GMT
Profit ConfidentialCAD to USD: Could the Canadian Dollar Slide Another 19.0%?Profit ConfidentialMarkets absolutely decimated the Canadian dollar in 2015, when low energy prices weighed on Canada's economy, dragging it into a recession. Now, as we app ...

Read more ...
 
 
Price of oil loses another 3%, dragging Canadian dollar back below 72 cents US - CBC.ca
Mon, 28 Dec 2015 16:31:54 GMT
CBC.caPrice of oil loses another 3%, dragging Canadian dollar back below 72 cents USCBC.caThe benchmark price of North America's main oil blend lost more than three per cent to change hands below $37 US a barrel on Monday, dragging the Canadian dolla ...

Read more ...
 
 
A Nice Way To Profit From The Decline In The Canadian Dollar - Benzinga
Thu, 31 Dec 2015 13:34:00 GMT
BenzingaA Nice Way To Profit From The Decline In The Canadian DollarBenzingaAfter peeking in late 2007, the Canadian Dollar lost more than 25 percent in less than a year-and-a-half. However, the currency managed to recuperate, and its price remained ...

Read more ...
 
 
Canadian dollar could sink as low as 68 cents as bond with oil grows to world ... - Financial Post
Thu, 24 Dec 2015 15:54:10 GMT
Financial PostCanadian dollar could sink as low as 68 cents as bond with oil grows to world ...Financial PostThe correlation between the Canadian dollar and the benchmark West Texas Intermediate oil price is about 0.56, meaning the two have a strong ...

Read more ...