Weekly Trading Forecasts on Major Pairs (July 11 - 15, 2016)

Here’s the market outlook for the week:

                                          

EURUSD

Dominant bias: Bearish

This pair moved sideways last week, with no major bearish or bullish movement, though the overall bias remains bearish. There are support lines at 1.0000, 1.0950 and 1.0900. The support line at 1.1000 is a formidable barrier, and should price go below it, the support lines below it could be tested. On the other hand, there are resistance lines at 1.1150, 1.1200 and 1.1250, which could also be tested when bulls become strong enough to effect any short-term rally. The outlook on the market is bearish for this month; whereas that does not rule out bullish attempts this week.   

USDCHF

Dominant bias: Bullish  

USDCHF was able to move further upwards last week. Bulls achieved a feat when they pushed price above the support level at 0.9800 (which used to be an obstacle to them). Price was then pushed towards the resistance level at 0.9850, which has already been tested. There two threats against the current bullish outlook: 1). CHF could become strong any time this month. 2). USD may become weak versus other major currencies before the end of this week. Until one of these two threats materialize, USDCHF would continue trudging upwards.   

GBPUSD

Dominant bias: Bearish  

This currency trading instrument is still in a major downtrend. Price dropped 460 pips last week, reaching a low of 1.2796 and closing at 1.2951. The market went sideways in the last few days of the week. This week, there is a high probability that price would trend upwards (plus this could be witnessed on some GBP pairs). GBP might gain some strength this week or next week, but it is very much unlikely that the market would reach the high of June 23 anytime soon.  This means that, while there could be a rally in the market, the dominant bias would continue to be bearish.

 

USDJPY

Dominant bias: Bearish

The market went down more than 250 pips last week, to close at 100.56 on Friday. The outlook on the market, and of course, on other JPY pairs, remains bearish. Price could trend further downwards, as it goes for the demand levels at 100.00, 99.50 and 99.00. The task is to break below the demand level at 100.00 first, after which it would be easier to reach other demand levels below it. Any rallies in this market ought to be ignored.        

                                                                                                                               

EURJPY

Dominant bias: Bearish

The “sell” signal on EURJPY is still a valid thing, since there is a Bearish Confirmation Pattern in the market. Price declined further by 330 pips from Monday to Wednesday, and consolidated till the end of the week. Like other JPY pairs, further decline is expected; and any rallied seen here are essentially opportunities to seek short trades. There are intriguing demand zones at 110.50, 110.00 and 109.50.

This forecast is concluded with the quote below:

“You know those adages about smelling the roses and chasing butterflies? The markets are my butterflies and my roses.” - Bill Gross  

Source: www.tallinex.com

What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html

Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng

Tom Steyer: A Fund Manager Turned Activist

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 12

“If you see a strategy that has a good track record. This is not about a quick buck. It's not about one trade, or even one day. It's about putting your money into a strategy that has a track record, and sticking with it. Everyone has good days, weeks, and months... but there will be bad ones, too.” - Richard Mazur

Name: Tom Steyer

Date of birth: June 27, 1957

Nationality: American

Occupation: Fund manager, investor, activist

GREEN TRADES

Born in New York City, Tom’s father was a partner in a New York law firm, and his mother was a teacher of remedial reading at the Brooklyn House of Detention. He earned a BA from Yale University and an MBA from Stanford University.

Tom began his career at Morgan Stanley in 1979. From 1983 to 1985, he worked at Goldman Sachs. 

Wikipedia says Tom is the founder and former Co-Senior Managing Partner of Farallon Capital Management, LLC (founded in 1986), and the co-founder of Beneficial State Bank, an Oakland-based community development bank… Since 1986, he has been a partner and member of the Executive Committee at Hellman & Friedman, a San Francisco-based $8 billion private equity firm. Farallon Capital Management, LLC, manages $20 billion in capital for institutions and high-net-worth individuals. The firm’s institutional investors are primarily college endowments and foundations.

In spite of inevitable negativity, Tom firm’s positions were mostly green, and he grew richer and richer over time.  As of March 2014, Tom was worth $1.6 billion

Tom’s married to Kathryn Ann Taylor and they’ve 4 children. He’s now very active as a philanthropist; and an environmentalist, being a democrat.

 He and his wife have pledged to give half their wealth to charity.

What You Need to Know:

1. After attaining some professional experience, Tom founded Farallon Capital Management, LLC, in January 1986 and co-managed its portfolios. You see, it takes time to become truly financial independent. Trading isn’t a get-rich-quick scheme, for it takes Tom 26 years to arrive where he’s today. Those who look for ways to become rich quickly are in for heavy losses and heartaches. Grow rich slowly, not quickly.

2. Farallon, which employs about 165 people in 8 global offices, and is headquartered in San Francisco, California, has one noble goal: Absolute return investing, which is a strategy that aims to produce a positive absolute return regardless of the directions of financial markets. What a great example for traders? We want to make money regardless of the direction of the market!

3. How does Farallon achieve their aim of making money irrespective of what the markets do? Well, they make credit investments, value investments, merger arbitrage, real estate-related investments and direct investments. They also invest in public and private debt and equity securities, and direct investments in private companies and real estate

4. It’s a pity that too many people only have short stints at trading. They trade for a few days or a few weeks or a few months or a few years; and then quit forever. For Tom, this is different, his trading career spans more than 3 decades.

5. When you become financially free, you can then devote your time and life to what you really like (your passions). Steyer announced in October 2012 that he would be stepping down from his position at Farallon in order to focus on political activism. What would you like to do after you become rich?

Conclusion: One wise forumer says he used to get disappointed, but he learned to accept reality as part of things. Now he’s always happy because he’s no expectations and this has made his performance grow as well. He believes working without expectation is probably the best thing and makes trading so much easy to do, but of course, he remembers to set line between no expectation and being careless. He doesn’t expect much from himself as he goes with the flow of the market.

This article is ended with this quote:

“I believe my work right now should not be in our nation's capitol but here at home in California, and in states around the country where we can make a difference.”

– Tom Steyer

Source: www.tallinex.com

What Super Traders Don’t Want You To Know: Super Traders

Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng

Trading Signals for JPY Pairs (July 8 – September 30, 2016)

USDJPY = Sell

AUDJPY = Sell

CADJPY = Sell

CHFJPY = Sell

EURJPY = Sell

GBPJPY = Sell

NZDJPY = Sell

NB: Every trade could be entered with a stop loss of 100 pips and a take profit of 200 pips. Only 0.5% is risked per trade. With an account balance of $20,000, a position size of 0.1 lots would be used. The breakeven stop is set after about 70-pip profit is made. A trailing stop of 100 pips is set after over 170 pips have been gained. You need to use your technical analysis to know when to enter, since you may want to trade a pair only after your entry criteria have been met.

Disclaimer: Trading signals are provided for information purposes only and shouldn’t be construed as trading advice.

Source: www.tallinex.com

What Super Traders Don’t Want You To Know: Super Traders

Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng

Gulf Keystone – A Doomed Stock

Gulf Keystone stock (LSE:GKP) is a doomed market. The future of the stock is gloomy and bleak, and it might as well go below the great psychological level at 1.00 in a foreseeable future.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left side of the chart. It can be seen that the stock has been trending downwards for a long time (all the EMAs are sloping downwards).

Gulf Keystone is a kind of consolidating since the past few months, but the expected momentum in the market would favor bears, when it does arise. Some might be awaiting a rise in a strong bullish momentum. Well, they could be disappointed because the best approach right now is to sell the stock when it rallies temporarily into the EMAs 20 and/or 50.

This forecast is ended by the quote below:

“Above all, remember your job as a trader is not to predict where stocks will go. Instead, trade “in the now” by merely reacting to what you see in front of you every day. – Deron Wagner

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng

Optibiotix H. Is Choppy As Well As Attractive

OptiBiotix Health shares (LSE:OPTI) constitute a choppy, but attractive market. Based on the price action in the daily chart, there are wild upswings and downswings in the market, which reveal something interesting.

A closer look at the market shows that, price, which is now within the upper and lower Trendlines, has exuded willingness to trend further upwards. Several hanging men has shown in the past few weeks and the current candle is also a hanging man. A buying pressure could arise in the market, which would push the price above the upper Trendline.

The RSI period 14, which is at the level 50, might soon go above that level and signal a bullish signal. As Optibiotix H. is caught in a choppy, wild phase now, there is a possibility that the stock would trend higher and higher, forming a directional movement, and becoming attractive.

This forecast is ended by the quote below:

“You know that old adage of never buying a car that was built on a Saturday afternoon, well the same thing used to apply to brokers giving advice on a Friday afternoon.”  – Chris Tate

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng