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This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.


I have resumed my focus on coaching as a stock market mentor where I run a success guaranteed stock trading mentorship program


Additionally, you can now get access to what I consider to be the best stock options trading alert service.


Of course I am biased and with a success rate fluctuating between 68.2% and 72.4% it is hard not to be biased.


If you do want to follow along with what I am doing every day you can get access to my dail stock market report 


Until next time

happy trading 

Mr Phil Newton or on LinkedIn Phil Newton trader

Week Comm 27 Feb

Phil Newton's picture
i’d like to stay with the daily/weekly frames again & just take a re-cap on where price has travelled since the yearly highs……. whatever we might feel bout the intraday-intraweek jostling, this thing is still adhering to the higher low-higher high behaviour patterns on the Daily frame since it reversed the descent off 7050. granted, if you’re a $ Bull then you’re not particularly quaking in your shoes this w/end, as price has backed away from a keen Bull defense @ 7530, which is the 38% of the yearly high-monthly low marker (highlighted on the 1st daily frame) it’s closed within a key s&r zone too (a prev area of open-close activity), close to a near term 4hrly fibo @ 7387......... the weekly shows it flirting with a key level from May 2004 & it’s attempting to extole the virtues of a ‘pin bar’ print off the 7280 monthly low…….. yes, price is continuing to frustrate those attempting to leg into a decent run, and yes it’s dangerous territory for swingers of either camp – the best we can do is either sit it out for the wider range levels to give way, or pick our spots & do battle……….. there is, and will continue to be, valid reasonings for a Bull-Bear dominance at these levels – some technical & a great deal of fundamental argument……but with $2 trillion worth of fish swimming around in the pond, there’s plenty of opportunity to reel in a decent sized fin or two along the way……….. it’s gonna get rough again on this pair in the short term, as they slug it out (again) for near term dominance……the only ones giggling at the mo are the long term $ Bulls…….they’re safe below 1.77 & until Sterling puts the frighteners on by capturing 1.76, they won’t lose sleep……………… every single day, we’re sitting at the table with a whole host of craps players holding very different agenda’s……as long as we play our game according to our rules & stick a little of the profits away to sustain our longevity, then we’ll book our seat for next weeks roll………it’s a mind game – technical in the short term, fundamental at the long end……….sooner or later the latter will dictate the former........