"Be All You Can Be" - John C. Maxwell

Be All You Can Be: A Challenge to Stretch Your God-Given Potential

http://www.amazon.com/dp/0781448441/ref=...

You have big dreams and major goals for your life. You want to be a leader, fulfilled and fully realized, always able to take what life throws at you and stretch beyond the status quo. But for some reason, you never quite get there. You just aren't living up to your potential, and you don...

Google Chrome Blog: A new apps list on Chrome OS

Google Chrome Blog: A new apps list on Chrome OS: One theme we hear repeatedly from Chrome OS users is how much they enjoy the speed and simplicity of their Chromebooks . With this week’s st...

USD/CAD - Bullish Candlestick Pattern (Hammer)

USD/CAD - Bullish Gartley Pattern still valid.  Pattern has formed a Hammer Candlestick Pattern in a downtrend (Bullish Signal).
Hammer (Candlestick Pattern) Definition
http://en.wikipedia.org/wiki/Hammer_(candlestick_pattern)

Bullish Gartley on Daily, USD/CAD chart still valid

Bullish Gartley on Daily, USD/CAD chart still valid.  Inverted Hammer candlestick pattern has formed.  

Inverted Hammer Definition
http://en.wikipedia.org/wiki/Inverted_hammer

AUD/USD Bearish Gartley - Profit Target Levels

AUD/USD Bearish Gartley - Profit Target Levels.

AUD/USD - Bearish Gartley, Daily Chart

The Bearish Gartley pattern on the AUD/USD still looks good.  I will post an updated chart with profit target levels soon.

Bullish Gartley Pattern - USD/CAD, Daily Chart

Bullish Gartley pattern has formed on Daily USD/CAD Chart.  Current D point is around 78.6% Fibonacci retracement of XA.  Gartley pattern is valid up until point D goes below point X.  Then, a possible Butterfly pattern may be forming.  Price target levels drawn on chart.  Correction:  D point on chart should read,
 D = 0.9961 instead of  D = 0.9662.

Bearish Gartley Pattern - AUD/USD, Daily Chart

A Bearish Gartley Pattern has formed on the AUD/USD Daily chart.  Price is around 78.6% Fibonacci retracement of XA.  Also, the D point of the AB = CD pattern completes around the same price level.  See Chart.  Happy Trading.

EUR/USD - Waiting on Non-Farm Payroll Data

EUR/USD waiting for Non-Farm Payroll data.  Bullish Butterfly Pattern still valid from Daily Chart.  Bullish Engulfing Candle pattern still valid from Weekly chart.  Happy Trading!

EUR/USD hit 50% Fibonacci Retracement

EUR/USD Daily Chart - EUR/USD hit 50% Fibonacci Retracement of run down from X to A after forming a Bullish Butterfly Pattern & also a Bullish Engulfing Candlestick Pattern.  See Chart.  Happy Trading!

See Books for Details about Gartley/Butterfly Patterns & more.

Trade What You See, How to Profit from Pattern Recognition - Larry Pesavento & Leslie Jouflas.

Japanese Candlestick Charting Techniques - Steve Nison

Forex Trading Books

Recommended Reading for Forex Traders

• Trade What You See, How to Profit from Pattern Recognition - Larry Pesavento & Leslie Jouflas
• Harmonic Trading, Vols. 1 & 2 - Scott Carney
• Japanese Candlestick Charting Techniques, 2nd. ed. - Steve Nison
• Essentials of Trading: It's Not WHAT You Think It's HOW You Think, Larry Pesavento with Leslie Jouflas

EUR/USD – Monthly Chart, Fibonacci Profit Target Levels

EUR/USD - Monthly Chart

EUR/USD - Monthly Chart. This is a very long-term view. If you trade from this chart, you will have to be very, very patient. Manage your risk, as always.

EUR/USD move up. Daily Chart view.

EUR/USD has moved up quite a bit since yesterday. Here is the chart analysis I promised. Euro is hitting resistance around the 20-day EMA & the 38.2% Retracement of the move down from A to D. Long is still valid. Traders may want to take some profit here. Place stop at break-even and try for 50% and/or 61.8% Fib. Level(s).

EUR/USD Long - Update

Got out of EUR/USD intial Long trade around 1.2130.  Reduced # of contracts slightly, then got back in (Long) around 1.2111.  The recent COT data suggests that the big players are extremely long the euro.  Also, the Bullish Butterfly pattern identified a few weeks ago is still valid.  Monthly Chart still shows a Gartley pattern. Happy Trading!

EUR/USD Bullish Butterfly Pattern - 4-hr. & Daily Charts

Bullish Butterfly Pattern has formed on 4-hr. & Daily Charts.  Risk below 1.2162 (1.272 ext. of XA).  Profit Target Levels will have to be redrawn if price continues down.  Happy Trading!

EUR/USD - Bullish Gartley, Monthly Chart

Bullish Gartley pattern has formed on Monthly EUR/USD chart.  An Inverted Hammer is almost complete on the monthly chart also.  An Inverted Hammer candlestick is a potential reversal signal, especially on a longer time-frame like the monthly chart.  Control your risk and this could be a very good long-term trade.

Bullish Gartley Pattern, 4-hr EUR/USD Chart

Bullish Gartley has formed on 4-hr EUR/USD chart.  Very nice Symmetry and Bullish Engulfing candlestick pattern.

AUD/USD Bearish Butterfly - 4-hr. Chart

Bearish Butterfly pattern has formed on 4-hr. AUD/USD chart.  In addition, candlesticks have formed what I call railroad tracks ( two candles side by side with approximately same length and opposite colors ).  CD leg of ABCD pattern is 1.272 x AB leg.  D projection is very close to top of railroad tracks.  The 127.2% extension of XA is around 0.9983, which is close to the recent high of 1.0000.  see chart for full analysis.

Bullish Butterfly Pattern - AUD/USD, Daily Chart

Bullish Butterfly pattern has formed on Daily, AUD/USD chart.  Nice candle spike down ( formed a Hammer ).  Profit Target levels on chart.

GBP/USD - Bearish Butterfly - Weekly Chart

Bearish Butterfly pattern has formed on Weekly - GBP/USD.   Price may run up to complete AB = CD pattern.  D projection is at 1.6364.  The 127.2% Fibonacci extension of XA is at 1.6418.  This would be a valid level for price to go to also.  Look for clues for a turnaround on shorter-term charts.

GBP/USD - Daily Chart - Hammer Forming

Hanging Man (Bearish) pattern has formed on Daily GBP/USD chart.  This goes along with our Bearish Butterfly formation on Daily chart, also. Symmetry is very good.  9 candles form XAB & 9 Candles form BCD.

Gartley turns into Butterfly - Daily GBP/USD

Bearish Gartley has turned into Butterfly.  Pattern has better symmetry than it did yesterday.  4-hr. GBP/USD price came close to hitting 161.8% extension of XA in European/US FX trading session this morning.  Trade still valid.

GBP/USD Bearish Butterfly - 4hr. chart

GBP/USD Bearish Butterfly has formed on 4-hr chart.  Also, a Bearish Gartley has formed on Daily chart.
Butterfly pattern completed around 127.2% extension of XA.

GBP/JPY Update - Gartley Pattern

Price reached the 38.2% & 50.0% Fibonacci profit target levels.  You could place your stop at break-even at this point and let the trade run on any remaining contracts.

Bullish Gartley Pattern - GBP/JPY - Daily Chart

Bullish Gartley pattern has formed on Daily, GBP/JPY.  Also, potential Bullish Engulfing candle forming.  This pattern has very good symmetry.

GBP/USD – Bearish Gartley Pattern – Daily Chart

Bearish Gartley pattern has formed on Daily GBP/USD chart.  Point D spiked just above 61.8% retracement of XA.

Average Daily Range = 146 pips.  Risk above 127.2% extension of XA.  Gartley would turn into Butterfly above X at 1.6063

Bearish Gartley - GBP/USD, Daily chart

NZD/JPY – Bullish GARTLEY Pattern – Daily Chart

Bullish Gartley pattern has formed on NZD/JPY Daily chart.  Nice Symmetry.  Fibonacci Profit Targets drawn in.  See chart below.

AUD/JPY 3-Drives BUY Pattern - Daily Chart

3 - Drives BUY Pattern has formed on AUD/JPY Daily chart.  The pattern is further confirmation of our Long AUD/JPY trade off of a Bullish Butterfly pattern.  Also, the AUD/JPY gapped down today from Friday's close.  It closed Friday @ 84.10 and opened Sunday @ 83.91.  These gaps or windows are usually closed by the end of the next trading day.

AUD/JPY, 3 - Drives Pattern : Daily Chart

Trading for a Living

" The market does not know you exist.  You can do nothing to influence it.  You can only control your behavior."
--- Dr. Alexander Elder, Trading for a Living

AUD/JPY Butterfly BUY Pattern - Daily & 4-hr. charts

Bullish Butterfly pattern has formed on Daily AUD/JPY chart.  Reason for trade: AB = CD pattern.  D projection comes in at about 84.12.  Candle spiked down to 83.97 just above the 127.2% ext. level.  Hammer or Doji may be forming on Daily chart.  4-hr. chart shows same Butterfly pattern.  Possible Bullish Engulfing candlestick pattern on 4-hr. chart.  Profit targets at 85.75 (38.2%), 86.30 (50.0%), & 86.85 (61.8%).

AUD/JPY Butterfly Buy Pattern - Video

GBP/USD Short trade update

Gartley Sell pattern turned into a Butterfly Sell pattern. Still a nice pattern. Risk above 1.6100. Technically, trade would still be a valid Butterfly all the way up to 1.618 extension of XA. Short video below.

GBP/USD Bearish Gartley Pattern – 4 hr. chart

Bearish Gartley pattern has formed on GBP/USD  4 hr. chart.  Reason for trade: AB = CD pattern completion at 1.5951.  78.6% Fibonacci retracement of XA at 1.5966.  Stop above 127.2% extension of XA (this would be a valid Butterfly pattern). Evening Star pattern on Daily chart.  Evening Star pattern would be invalidated if price goes above 1.6000.   Average Daily Range for GBP/USD is about 148 pips, so Short Entry @ 1.5951+148 pips = 1.6099.  This would be a reasonable Stop placement.  The 127.2% Fib. extension is at 1.6043.  I will re-analyze trade if price goes above this level.  Profit target 1 @ 1.5844 ( 10-day EMA ).  Profit target 2 @ 1.5845 ( 20-day EMA & 38.2% Fib. retracement on Butterfly pattern, Daily chart.

Trade What You See

"Trade what the market IS --
Not what the market IS NOT --
Traders that trade the market that IS --
Are truly the happiest lot."
                          - Gary Porter

 from "Essentials of Trading: It's Not WHAT You Think, It's HOW You Think",
 by Larry Pesavento with Leslie Jouflas

AUD/JPY - Bearish Gartley Pattern - Weekly Chart

AUD/JPY has formed a Bearish Gartley pattern on Weekly chart.  Also, a Bearish Engulfing candlestick pattern has formed.  Trade would be invalidated if price goes above 88.62.  This trade will require some patience, but can be very rewarding.  Profit Targets at 38.2%, 50.0%, and 61.8% drawn on chart.

GBP/USD : 4-hr. - Gartley Sell Pattern

Gartley Sell Pattern formed on 4-hr. GBP/USD chart.  Risk is above 1.5928.