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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 8 May

Phil Newton's picture
and the beat goes on........so where does this leave us in relation to fair values and a 'balanced' outlook for trend continuance? these instruments have travelled a fair lick in a relatively short space of time on the back of aggressive $ negativity.....sure, the writing was on the wall regards fundamental evidence & the Bears have been banging the drum since early 1st quarter about over confident Bull dominance - so a swift kick wasn't surprizing to all intents & purposes.......... but it now leaves a few savvy fund hawks nervously looking over their shoulder.......they would have preferred a more leisurely trek to new yearly high's, basing out & building the steps in a gradual, consolidatory move......... but the real world doesn't quite work that way, and currencies attract a very mixed bag of participants (unfortunately for them lol).....we have the Dailies displaying overcooked behaviour, with the trend indicator (RSI) registering + bias at the extremes & the slow averages way back at the starting grid............ the indicators (on the big frames) can & do stay overcooked for an excessive amount of time in these situations, so where do we look for an equally aggressive counter move?.....the large cap & major players often refer to Fibs as a recognized math guage for considering natural price moves back to prev range boundaries.......in this instance, they will draw their potential battle lines from the prev 2 step levels in which price shunted away on this move down on the buck.......... as with any method, they merely serve to "guide" & offer some degree of assistance in determining the natural course of price action, it's the range levels where bid & stop activity lurk which will inevitably decide how much farther the dollar falls, and to where it will bounce on any retrace......but the Fibs will draw att'n from the mainline players, because enough of them utilize them & place their orders around them.......... again, a 4hr frame observation will identify the near term bid zones on any fallout from current highs.....demand will begin to build on & around these levels (8450...8320....8190) with the 'biggy' @ the 50% clip on the larger trend camp resting on 7950..........that's where the Bulls will wish to drive price back to eventually........ in the meantime, price will be subject to DATA!!!! & the Fed are looking at the data for clues as to their rate & yield muscle.........until fundamental information say's otherwise we're laying heavy on the Dollar - and the pullbacks will attract stiff resistance from aggressive Bear protection models.......... I'd expect a decent move up on the buck after next weeks rate announcement, if only to stabalize the situation & let some wind out of the sails.....but I aint putting my money on it :mrgreen: as ever, we'll trade what we see, and use our trusted aids to guide us along the route!! keep your eyes open & don't relax in your chairs too much....there's some keen action awaiting us before this month draws to a close :wink: