Breakaware, copyright2012©

 

The beautiful life rules i found

 1: You keep calm and follow your guts 

 2: Never forget, Be calm

 3: Action is louder, do it 

 4: Have a good team. People with soul  

 5: Work hard, but remember to take a break

 6: Only one thing at a time  

 7: Do not put money first

 8: Let your word be your bond

 

  i will be elaborating more on these rules in subsequent posts the way i perceive them

Forex Weekly Forecast:

This is a trial start to a weekly publishing on my expected forex pairs to trade for the week, given the promising play out of price pattern formation on a few pairs over the previous week. I however rely on the principles of price action to forecast the expected outcome of the next trading week.

My approach is based mostly on price action and on the naked chart style of trading which I found handy recently.

so straight to the point, enough of the introduction, although more of the introduction will come as we get consistent.

My pairs pick for the coming week

1. USDJPY
It could be seen that there is a formation of a pin bar on the daily chart at a critical zone, which from my observation has characteristic behaviour of retracing to 61,8 - 23.6 mark of the tail before a rally to the next zone around 107.62, that is considering the candle before the pin bar.

now this couldn't be much clearer on the 4hr chart where the obvious pin bar shows a rejection of the predominant  level of resistance, which is fixing to be a formidable support.

The opening position of the market on Sunday will either confirm or put a twist to my expectations, however things turnout I hope you'd tow my line of thought as I look forward to a buy limit and a buy stop at 106.775 and 107.105 and stop loss and take profit at 106.52 and 107.55

Remember considering this ideas is strictly at your own discretion.

2. EURAUD

The formation of the three black crows tells me that the downward movement will continue to at least 1.5920 before a reversal to the upside.

so my sell stop goes 1.6085 with stop loss and target profit at 1.6165 and 1.5930.

Have a positive pipful week.

Breakaware, copyright2012©