Weekly Trade Commentary: 4th Nov 2012

Related article: Commentary: 28th Oct 2012 Hi Readers, Welcome to my first weekly commentary on TradeYourEdge.com. Thank you for reading this and hope you’ll enjoy my commentaries. Great News! The USD Index is finally on the move again. From my previous commentaries, we could see that the USD index was just range bound. As the week…

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EURUSD – Double Top and A Potential New Low?

(Click on image for Larger View) This is a quick email to cover my market observations at the moment. The chart above is a EURUSD 4hr chart. This currency pair failed to make a new high above 1.313. In fact, it formed a double top pattern (see both the Green arrows). While this is not a…

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Triangles are Powerful Trading Patterns

Related Articles: AUSUSD in a Triangle: Wonder Where It’ll Breakout To EURUSD Indecisive Mode The following charts are: AUDUSD on 60min chart (Click on image for Larger View) EURUSD on a 4 Hr chart (Click on image for Larger View)   This is just a quick email to follow up on the 2 Triangle Patterns…

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EURUSD Indecisive Mode

There are times when traders need to be patient and there are times when traders need to be decisive and act. Today, I’m sitting on the side while I await Price Action on EURUSD to make it’s decision. The following is a EURUSD 4 Hour chart. As shown, this is another classic indecision pattern which is…

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EURUSD Resistance Zone: What’s Next?

Hello Readers, (Click on image for Larger View) This post is just a quick snapshot of what I’m looking at right now. EURUSD just approached a reasonably strong Resistance Zone (Grey box). This was formed based on the multiple price reaction in the past (Green arrows). Below is a EURUSD Weekly chart is used to illustrate…

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EURUSD: Has It Tanked Enough Yet?

(Click image for Larger View) The EURUSD currency pair has been in a strong downtrend since early May. The chart above is a 4 hour chart and has the following price characteristics: Price channel is well defined with little over and undershoots Meeting a trend definition of Lower Highs and Lower Lows This is yet another…

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