Welcome guest, why not register to get access to more of the site?

Announcements

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 daily trade 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 daily stock market report 

 

 

You can read the step-by-step Bollinger Band Trading Strategy Guide - this is my main active trading strategy



Until next time


happy trading 


Mr Phil Newton or on LinkedIn Phil Newton trader

Video Reviews - '11

Video Reviews - '11
Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 21 Feb '11

Hi Folks, 

Once again some excelent comments from George over at Clickevnts.

I could almost hear the sound groans and squealing last week comingfrom the Euro short sellers as they scrambled to cover theirshorts! The catalyst for Fridays almost 200 pip run on the Euro wasBini Smaghi of the ECB suggesting European interest rates are morelikely to rise than fall.



The full text is only available to subscribers! : click here to subscribe >



Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 14 Feb '11

Hi Folks, 

I'm being a wee bit lazy again this week and only getting this post up monday morning. Some excellent comments from George at click events below.

Relief Rally



The full text is only available to subscribers! : click here to subscribe >



Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 06 Feb '11

Hi Folks, 

This weeks levels of interest and Directional chop zones updated from last weeks entry.



The full text is only available to subscribers! : click here to subscribe >



Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 31 Jan '11

Hi Folks, 

I'm a little bit delayed getting the weekly levels of interest on site due to my birthday and some family commitments.



The full text is only available to subscribers! : click here to subscribe >



Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 24 Jan '11

Hi Folks, 

This weeks update to the levels of interest on the cross rates that I focus on are highlighted in the charts below. Last weeks update can be found here.

EURUSD

I think it can be conclusively said that the press and therefore the masses have not got a clue. The expected price of Euro was to be closer to 1.20 by now. The debt auction helping stall that as a possibility... for now.

Last week I commented on the shooting star at the end of the previous weeks trading which "suggested" the "potential" for some downward movement "after" a short pause.

Please note the highlighted wording.

What I'm trying to talk about in these postings is the "potential" for movement and "scenarios" which help to formulate a "likely" scenario BUT I'm not cornering myself into thinking only in one dimension and covering the options for price to move up, down or sideways at these levels. 

So if price is at a favourable location I'm anticipating "something" to happen and not focusing on the which way part. As long as price moves with me on it... does it matter?

The point? Keep your eye and your options open so that when something does happen you can covered the possibility of it happening and can take action accordingly.

Euro continues to push ever higher and no doubt the press is still headlining the words like correction and retracement.

With the recent push higher the 1.3300 level can have its level of interest refined and also there is a new Chop zone to be considered (small pink box). As commented in the Live Room I see no reason not to anticipate a move towards the 1.3800 level. Stall zone to the downside anticipated around the 1.3450 level 

The location is not favourable for an each way option so I'll be falling back on my trend indication at the start of this weeks trading until price moves into a level of interest for me.

Simple Price Action Trading



The full text is only available to subscribers! : click here to subscribe >



Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 17 Jan '11

Hi Folks, 

Once again not too many changes are needed on the Locations of interest to me at the start of this weeks trading, the finish points of some of last weeks moves as on EUR for instance can now be refined. Also one or two new chop zones can be added in on the completion (highlighted in pink)

Generally speaking last week I discussed that there was most likely going to be some sloppy price action before seeing some further movement which is pretty much how the week unfolded.

EURUSD

Last week I discussed the primary scenario of a retracement most likely back to the 1.32 level on the premise of some contrarian thinking which was highlighted by most of the press touting a move to 1.20 (err hello Mr Murdock, stick to reporting the news and not making up the news!)

The big surprise for me was not that a move happened or that price did what I thought it would do but was the magnitude of the movement. Also keep in mind that this was not anything smart that I did but simply covered the options should price have gone up (which was my favoured scenario) down or sideways. In most cases a combination of events occurred.

The week ahead sees EUR at a favourable location once again for the next "something" to happen and a shooting star at the end of the movement which might suggest some reaction back down from this level. Although after the moves seen it might be fair to assume a short pause in price before seeing any further activity.

Economic turmoil continues in the Euro zone and Portugal or Spain are the next in line for a bail out which has most folks on tenter hooks. For the moment a reprieve has been given to Portugal and Spain having managed to auction off a good chunk of debt

As the location is good, once again I'm not really bothered which way price goes as long as it starts to move again and the strategy will take care of entries and trade management as usual.

Simple Price Action Trading



The full text is only available to subscribers! : click here to subscribe >