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EURUSD Triangle Range. Sure. Forecasted.
By Marek W. Stupka | July 1, 2009
In my last blog post I wrote: “Do you see the thick green lines in the chart? Right now, these are the Support and Resistance lines in-between which the pair is likely to trade in the following days.”. OK, guess what happened since I published my last simplified EURUSD analysis..?
The pair has been range-bound in between the thick green triangle for several days and even weeks now, and is gathering momentum for a breakout. For those of you who have not been using any of my strategies for range trading and are awaiting the breakout: Watch out for it in the days to come! When this happens, the movement might be fast and the volatility high. Ideal train to step aboard and make solid amount of cash in line with the rules. For determining the right time and direction of the breakout, please follow the rules of any of the proven intraday trading strategies, e.g. the one that is exploited in The CONFIRMATOR TS….
Note also that the pair has been moving not only in the range defined by the thick green trend lines forming a triangle but lately also in-between the 61.8% and 76.4% fibbles capping the preceding substantial price move - just in line with the rules for Fibonacci retracements.
Pay heed to these two S/R levels when positioning yourself for your next trade. Once one of these lines is successfully crossed above or below, the trading opportunity will be there. Of course, always confirm such an opportunity via a set of more sophisticated technical tools and strategies, in accord with the training materials.
At Gepard Investments, Inc., we have special trading strategies (or better yet, we like to call them Trading Systems) for every market phase. When trading gets range-bound, we apply the second of the four types of the so called CONFIRMATOR Trading System named THE SHERLOCK Market Personality. Once a substantial breakout occurs on any of the long-term time scales, we deploy the so-called ALEXANDER Market Personality of this system. We also have other 2 back-tested trading systems at our disposal, covering trading on longer and shorter time scales. In addition, there is quite a number of the most recommended and conservative trading strategies used by professional trading houses and hedge funds. The point of the 1-on-1 Training is to guide a trader to develop his own trading plan following or slightly modifying one of the proven trading methods, respecting his or her own personality and trading style.
Feel free to send me an email if you have any questions about joining the community of GEPARD traders and participating in the 1-on-1 Training.
Topics: FOREX Trading Analysis |
July 12th, 2009 at 9:49 am
hi
what is a market personality?
I mean I understand that you guys follow your own trading systems
but you actually imply that forex markets have some sort of a personality attached
?
Please explain, thanks
Chris
July 16th, 2009 at 9:15 pm
A market personality reflects the current prevailing character of the specific traded market.
Generally, a market can either be trending, range-bound, transforming, or highly unpredictable. Accordingly, we at Gepard Investments, Inc. distinguish between 4 main market personality types.
To actually identify which market personality applies to the market you are monitoring you need to apply for the 1-on-1 Training and get the full info and definition from there.
Happy trading,
Marek