Trade With Me Free

2016-01-17T08:51:00.001-05:00

EUR/USD Update for week ending Jan. 22nd.

EUR/USD closed week at 1.09114 I currently believe the long side might be the direction for the upcoming week. News Tuesday of this week will let me know if I am correct. I will get long this market on any bullish signs that carry conviction. My upside target will be 1.1315 with price possibly wicking 1.13327. Along the way there will be resistance at 1.096, 1.100, 1.10 and 1.121 areas. Oil and China worries are keeping the markets volatile so good trading opportunities should be available. If I do not get the overwhelmingly bullish charge I am expecting I will sit on my hands and watch as the market adjust itself accordingly.

EUR/USD Update for week ending January 8th.

2016-01-06T20:41:00.001-05:00

EUR/USD breached the lower trend line of my descending wedge and now appears to have turned into a channel. My predication for the end of the week is upside for EUR/USD to test upper trend line at 1.0900. I have a daily buy signal as I will take heading into Non Farm Payroll news on Friday. I will more than likely have a breakeven stop set for the news. Very risky for most traders but I'm not most traders. Stick to your trading plan and if your plan is correct everything starts to come together in view.
Good Luck and Happy Trading.

EUR/USD Update

2016-01-04T05:40:00.003-05:00

Looks as if EUR/USD plan has reached targets. Now I am watching 1.0890 level for a test if price holds here I look for a retest of 1.093 upper trend line. If upper trend line is beached with conformation I will watch 1.096 level for reaction. If price breaks through the 1.0890 level I see a retest of lower trend line level at 1.083/81 area. I'll watch price action today and take notes on movements. ISM Institute for Supply Management Manufacturing numbers coming out at 10:00 am EST. Forecast is in favor of the US dollar so I will be aware of this event this morning. Good luck and happy trading!

Forex Trade Plan for EUR/USD for the 4th-8th.

2016-01-02T21:08:00.001-05:00

It's been awhile since I have posted a plan here. I am still currently very active trading Forex and keeping in tune with the markets as this is my passion. I took some time off as I was dealing with another side business I have revolving around my US patented Barrier Sleeve product. I hope to now contribute to my blog here more often and hopefully help out newbies wanting to trade in the Forex market.

Looking at the current EUR/USD spot pair it appears to me we are in an descending triangle pattern on the longer term Weekly/Daily/4 hour chart. I believe price will bounce in the 1.0830 area and move up to test the 1.0930 level and upper trend line of triangle. If price hold this level I expect it to fall back to an area of support and bounce up again to test and possibly break upper trend line. Eventually I see a break of this upper trend line and an overall target of 1.1340 over the next few weeks.

I will be posting more trade plans as I have the time. Feel free to contact me with questions.
Thanks for reading and happy trading!
Kevin Gibson
kgibson5@woh.rr.com

EURUSD Weekly Plan for Dec.31st thru Jan.4th

2012-12-29T21:29:00.002-05:00

The EURUSD seems to be in a sideways wedge pattern forming lower high, lower low, lower high, higher low on 4hr chart. Looking at 1 hour chart it appears we will retest the upper TL of this channel. My bias is to the downside still to test 1.310 to 1.295 support levels. This is a rough read especially with the Fiscal Cliff crises were facing and congress trying to band aid something together. It is basically a crap shoot. If EURUSD breaks out to the upside and closes above the 1.3300 level on a daily then I will be bullish to 1.340/50 levels. I will just have to trade what price gives me. I would like to wish a Happy and safe New Year to all my readers. Looking forward to the volatile 2013.

EUR/USD Weekly Analysis for Dec. 24th – 28th.

2012-12-22T20:15:00.002-05:00

Last week the EUR/USD was very bullish early on and climbed straight away to 1.3308. I was expecting a pullback to 1.3100/1.3080 area before the 1.3300 target. Nevertheless price went straight to the 1.3308 on Wednesday and selling hard off this level forming a nice daily pin bar off major resistance. Of course I went into short mode selling any rally with my target area 1.3100/1.3080 as this will be the next area to look for buying signals. After the action last week the weekly candle printed a somewhat bearish candle which I believe could push price as low as 1.3000/1.2950 levels. Clearly we are moving lower to test support demand. I cannot predict which support level will be the golden one, but I will be watching closely at each stop. I will look to get long this market on a nice signal at any one of these levels. With price rising so quickly last week it gives me an even more bullish feel and I could see this market in the 1.340/1.3500 area over the next couple of weeks. We have a somewhat short week with the Christmas Holiday on Tuesday, but do not let this completely fool you. I have witnessed markets moving quickly during holiday trading. Congress has a lot on its plate and trust me investors are watching and will be on alert. Volatility could be unseasonably high throughout the end of this year. To me this is a great trading atmosphere and I will be in tune to everything. Merry Christmas If you are still reading this and I hope your holiday brings you great joy this season.

EUR/USD Weekly Analysis for Dec. 17th – 21st.

2012-12-15T21:19:00.003-05:00

My bullish intuition with price last week seemed to play out as the week progressed. My plan was to look for a bullish signal around the 1.2820 level. Price found support about 55 pips above this level at 1.28759. This was the 50% fib retracement zone from November 13th to December 5th. My thought was big money might run stops and then reverse price, but none the less price action signaled a turn up and never looked back all week. My thoughts for the upcoming week initially take me to trend lines, fibonacci extension zones, and a bit of Elliot Wave Analysis. I see price extended and overbought on the daily, 4hr, and 1 hour charts. Price clearly broke and closed above a major weekly TL. I am counting that price is in a fifth wave from an EW viewpoint. I’m not completely sold on wave five being over. I am counting three clear waves on a 5 minute chart and it appears we are in the fourth wave of five. So with this I expect we will see another stairway up to test the 1.320/25 resistance level. Once I count five clear waves on a 5 minute chart upwards I will consider this wave five finished and would anticipate a pull back to test the 1.3075/308 support level. If this is correct I would not expect price to move lower below 1.30658. If price breaks 1.30658 then I will reconsider my view and target 1.305/300 level support. So if price forms a bullish pattern in the vicinity of 1.3075/308 I will be all about the long and target 1.330 for the week. There is a chance we might be back in the same spot this time next week, but remember if price catches a bid at 1.3075/308 it will be in the beginnings of a wave three of wave five and I would expect impulsive waves to push price up relatively quickly. Price has some resistance in the 1.320/325 zone via TL resistance and 118% and 127% fib extensions. Also, once price reaches 1.3300 it will encounter the 1.382% fib extension along with the big monthly 20 SMA. I believe the range is set for the upcoming week. If price breaks the 1.30658 level support I will post another approach for the later part of the week. As I said I don’t anticipate this but I will react to whatever price gives me.

Longer term Outlook for EUR/USD

2012-12-09T13:56:00.000-05:00

Looking at the Monthly chart it appears price is in the beginnings of a longer term uptrend. Price has not yet confirmed this, but there are little signs I will pay close attention too. Price broke a major weekly TL and has returned to test this line forming a continuation pin bar in November. Now after the first week of December has printed I noticed a weekly pin bar has formed. Also, going down to a Daily chart, Friday’s close formed a bullish pin bar at a daily level of support. So based on this observation, here is how I will look to trade given proper entry signals at key levels.

I am going to look for price to test the 1.3054 level which is the midpoint of the weekly pin bar reversal. I will enter a short position on a proper set up entry. My stop will be above 1.3130 and my target is going to be 1.2820. Now 1.2820 to me will be a key level of support. If price breaks this level ( which is the midpoint of the bullish monthly pin bars lower wick) then I see a test of the the weekly pin bar low at 1.26608. Once again 1.26608 is a major level where I will watch closely for a signal either lower or higher (double bottom) signal. A break of 1.26601 will open the way for a test of the 1.2325 monthly TL support and horizontal support.

I am leaning more towards a bullish entry signal to jump on at the 1.2820 level. This decision is based on the monthly TL break. I expect this to hold, but I am not completely married to it. I have learned to keep an open mind to price and it telling me what to do. I will target 1.3836 level which is horizontal resistance and TL resistance.

Next week outlook Nov. 12th - 16th.

2012-11-09T19:11:00.000-05:00

Google possibly lower to 635.00 early next week.

Spot Gold moving higher early next week 1750.00 next target.

$GBPJPY lower to 125.25 early next week.

$EURJPY i see lower to 99.80 level next week.

Could we call that a weekly shooting star on the $AUDUSD?

$NZDUSD should find TL support @ .8040 early next week.

I'm still in a floating short on $EURUSD and I see it reaching my 1.2653 early next week. This is also weekly 21 sma!

Another good week of trading!! I think I'll kick back and drink to that!!!!

A brief snapshot of longer term market direction

2012-11-04T15:42:00.000-05:00

I did some analysis based off of Weekly charts and these are my opinions for each pair.

Tweets

$EURGBP looks lower to .796/91 which makes sense for the near term plans.

$NZDJPY three bar weekly surge into resistance. Expect a pullback this week.

$AUD pairs all seem overbought here expect some pullbacks soon.

$AUDUSD in a long term bull triangle. I believe price will fall as far as .9760 area. It gets here over the next couple of months

$AUDNZD I am in a short position and was within 1 1/2 pips of my target when market closed Friday. I see it lower to 1.2475 eventually.

$USDCAD longer term I see as sideways to down. Short term it appears lower to .986/85 area.

$USDJPY will eventually be sold down to the 79.536 area where I will buy it up and target 80.893, 81.097 and 84.071 longer term

$GBPUSD I favor the upside longer term. Short term could trade either way downside support @ 1.5800 should hold. Upside I see 1.6300

$CHFUSD will test .9550 level we get a break above this I see 1.2735 as next resistance. Longer term bearish pattern should unfold.

$EURUSD I see in a longer term bullish pattern. Short term price price should hold1.260/65 area, if not 1.2330 next stop.

Week ending on OCt. 5th Results.

2012-10-05T12:37:00.001-04:00

Here is a account history of this past week. I did miss 3 trades due to just not being in front of my computer. I also incorporated a script program to manage my trades after missing my break even on the AUD/USD buy. I took half my position but failed to set break even thus paying the price. After the loss I attached a script file to enable this to never happen again. I look forward to next week with this testing.

Scalping Results this morning pre New York trading

2012-10-01T16:33:00.000-04:00

Here is a snippet from my platform of the long scalps I took during my morning set-ups. I will be posting my trades on this scalping technique I am using.

As I am testing this scalping strategy I have developed, I will be tweeting my entries in the Asian sessions and possibly the pre New York market as I have time. Going to test this method for a few weeks as I think Im onto something here. This is just scalping for 10 pips per trade. I will be looking to do this on 8 different pairs.

EUR/USD Weekly Analysis for coming week.

2012-09-15T12:15:00.002-04:00

The US Dollar had a bad week as the Federal Reserve's announcement of a new open-ended Mortgage Backed Securities (MBS) purchasing program on Thursday stoked risk appetite and led to concerns about dollar dilution. With the greenback at a critical point, markets will be monitoring next week's series of speeches from Fed officials for more policy guidance in the coming months. I would expect that next week we will get a pullback in the Euro to test the 1.3000 and could possibly wick as low as 1.2965. I believe price will hold and reverse in this area to test the 1.3200/1.3214 levels. I have a pending sell order placed at 1.3205. If price reached 1.3214 area I would tend to favor the downside targeting 1.2690 level and 1.2455 respectively. If price reaches 1.2455 I will look for a long position in this area and target ultimately the 1.4300. Of course I expect several levels along the way and if I have time in my schedule I will update here. I must note that next week we could get the run up to 1.3214 first without the pullback. I will not ever chase any trade I will wait and if I get the nice pullback to 1.2965 then I will go long to 1.3214. Regardless this is my plan and I am happy to share.

Market Update

2012-07-12T20:09:00.000-04:00

DOW reached all my downside targets this week. Today we hit the 12,499.00 target and went as low as 12,487.00 before rebounding nicely. I actually got a 4hr close above the red bar which opened at 12,561.00. It appears as if we have a nice bottoming formation for now on the 4hr. I look for price to test the 12,560.00 level and if it closes on a 4hr basis above this level I expect a test of 12,623.00. Look for some bullish bear flag formations and pay attention to closing price on 4hr and daily charts. DOW could see sideways to up patterns over the next few days. Options expiration's is next week so I really don't expect another big move until the week of the 22nd. If volume is light next week I would imagine we will see some up side and I will be paying attention to daily closes in price to give me my next entry. Overall nice market movement this week and some nice money made :)

EURUSD Update

2012-07-08T12:30:00.000-04:00

I noticed a three bar push pattern out of a bearish flag pattern on daily chart. This is the same pattern the NZDUSD printed last week on the 4 hour chart. I expect a retrace off this pattern and I will look for signs to go short between the 1.2455 and 1.2500 levels. I will wait for a signal before entering short.

Weekend Update on DOW, USOil, EURUSD, NZDUSD

2012-07-06T21:58:00.000-04:00

Light volume last week gave way to some upside on the DOW. As I see this, it was a minor retrace and preparation for further downside next week. I suspect we will test the 12,824/64 area and continue downward toward 12,638.00 (test of channel bottom) and then on to 12,585.00 200 ema and support level. I expect a minor bounce at the 200 ema and I will look to take some profit and wait for another short entry.

See 4hr chart below.

The NZDUSD pushed higher after printing a three bar push on 4hr chart to the downside of bear flag pattern. This is a perfect example of manipulation in my opinion. The key here was to notice the three bar push and expect a bullish reversal. Also given the fact of a holiday week lighter volume I would have expected higher prices. Friday gave way to lower prices across the board with unfavored data on the US jobs number. I believe we will see a test of the .800/01 level and I will look to take a short position here. My targets will be .79383 and .78824 respectively.

The EURUSD is collapsing rapidly and will test the 1.2150 level. I look for it to break this level eventually or it might just blow right thru it early next week on its way to 1.1876 June 6th. 2010 low. If this level breaks look out below we are testing 1.100, and then parity.

USOil I see moving lower next week to test 80.73. USOil printed a very bearish candle on the daily chart and with other markets sporting bearish looks I see it lower next week.

Market Update DOW, USOil, EURUSD, NZDUSD

2012-06-27T22:35:00.001-04:00

Covering the DOW price tested the 12560.00 level and pushed higher. This is not exactly what I expected, but none the less I don't hold the crystal ball on future. Now that price has established itself above 12560.00 and is currently forming a bullish bull flag pattern I see it heading to 12674.00 with not much in its path. This, if I had to guess, is a stop run manipulation move to lower prices. I do see short term bullishness to that level. Oil is higher and has actually over come my 80.30 level trading at 80.60. I am still bullish on USOil until I get a signal. Next test will be 81.00 level where I will be watching closely for signs to go short. EURUSD came within less than a pip of my short target and traded as low as 1.24411. Currently I need to see some conformation either way. Price did make a double bottom at the 1.244 level which could lead to a retest of the 1.253/54 level. If price breaks this now resistance level I see it trading as high as 1.257/62 area where I will look for signs to go short. Price could move lower from here so if price breaks 1.2440 with conformation I will get short. NZDUSD has pushed higher to test bearish bear flag trend line resistance at .794/95 level. I will look for a signal to get short off this current level. So given the EU economic summit in Brussels tomorrow and Friday I believe we should get some fundamental ideas on future direction.

Market Update DOW, EUR/USD, OIL, NZD/USD

2012-06-25T21:53:00.002-04:00

Looking at the Dow Jones Industrial Average I see heavy resistance at the 12560 level. Once this is reached I will look to short pairs like the EUR/USD which I have resistance at 1.2530 level. NZDUSD looks ready right now for short entry at .7900. Although US Oil looks as if it is in a sideways triangle preparing itself for another drop. I see oil at 80.00/30 for another short position. Targets on oil for the short term are 73.45 and 69.70. The EUR/USD will test the 1.2300 level and I look for it to break ultimately heading for 1.1950 level test. DOW will test 12380.00 and then 12100.00. NZD/USD will test .7700 and .7500.

EURUSD End of Week

2012-03-15T22:41:00.004-04:00

Currently long EUR/USD from the 1.300 level on candle conformation. Scaled at the 1.3050 level half position and set break even (BE) on remainder. Re loaded on a break with conformation from the 1.3050 level entry was 1.30762. Target is 1.3100 on re entry and overall target is 1.3150/170 level which has many confluences. Follow me on twitter https://twitter.com/#!/dgib1038 for my up to the minute analysis. Below are my updated charts.

EUR/USD Weekly Update

2012-03-13T18:54:00.002-04:00

Enjoying another week of successful trading. I called the fake out to the upside Monday and today got the conformation I was looking for to the downside. I now expect the EUR/USD to target the 1.2950 level. Along the way reacting to the 1.305 and 1.300 levels i will look for bases forming and scale short positions. I will add to these positions as price tells me to. Currently we are in a range with a 1.30514 base low and a 1.31216 base high ceiling. Upon conformation I will enter accordingly. Follow me on twitter at https://twitter.com/#!/dgib1038. Long term I am still somewhat bullish as price will have to let me know at the daily 38.2 fib retracement level (1.29484) on the daily. If buyers step in at this level I will target the 118% fib extension level at 1.36412 and this is where I will have to evaluate my position. See my daily chart below. Also see my other blog at http://www.tradewithmeforex.blogspot.com/.

EUR/USD Video for 4/15/2011

2011-04-15T20:34:00.002-04:00

2011-04-12T22:36:00.002-04:00

US $ Index Analysis

2011-03-27T23:47:00.002-04:00

EUR/USD

2011-02-19T21:31:00.002-05:00

I Look for another leg up on this pair. It is a tough read early this week so I went to the USD/JPY for some clues. To me it looks as if we might take another leg down into move fib territory on the 4hr chart. once we get into this 82.50-82.60 area I look for some dollar strength. If this is the case the euro should make another leg up to 1.378 then I see a fib retrace to 1.3600 area which will pick up buyers and possibly merit a test of the highs at 1.3861 and possibly a 1.3900 target 1 and then a 1.397 target 2 which will obviously bring on a strong push to 1.4000 pych level which I will sell off this level. It would be interesting if this level matches up with a weekly pivot level? We did hit WR1 Friday and that is where price stalled. If WR1 holds then downside will prevail. I will just play it accordingly to price action. We will see????

Quick EUD/USD Weekly candlestick pattern

2011-02-05T20:07:00.002-05:00

Just wanted to post a note on the EUR/USD weekly gravestone doji pattern on extensive tick volume. What this is telling me is sell sell sell next week? Let's see????