Strong moves in last week – technical overview

It was a week with strong moves on major pairs (move down from top almost 400 pips on eur/usd). All thanks to the ECB’s President, Mario Draghi, who said that the Central Bank is willing to review the amount of money designated to bond purchases. And euro tanked hard. I want to show you some technical background from this week, which was helpful to take right direction.

Before we move to Fibonacci tools, first weekly pivot points. In the start of the week buyers tried to breakout higher, but 100 and 200 simple moving averages stopped them. Also the whole action was taking place below weekly pivot point. For me it was a clear sign that long positions are not in the game until bulls will break above that pivot line. But in the end, sellers took initiative. 1 hour eur/usd:


Nice moves and some suprises

It was a very good and interesting trading week. First, we saw some nice trending moves and some rapid moves on Friday. Lets check charts.

I wrote about usd/chf earlier, we saw then a move back to the 61.8% retracement line. Pay attention to the green trend line. Usd/chf, 4 hour chart:

usdchf-4hr-2015-08-01 (more…)

Trading day summary – 20/07/15

Short summary of current situation. In next day I will describe some trades in detail.

Few days ago I wrote on my twitter about usd/chf:

I opened a long position and it is going up nicely. Originally I aimed at Fibo extension, but this move looks like something bigger and I take pivot R lines as targets. My first target is around 0.9690, because in that area we have two important resistance lines:

Advanced guide to trailing stop loss

In this article we will take a closer look at trailing stop loss – what it is, how to use it. You can easily use this with others trading tools or based your whole trading plan around it. We will see how to do it.

This is more advanced material – I assume that you have some knowledge what price action is, how to use averages or oscillators. Anyway, I try to keep things simple.


In my trading toolbox you can find indicators and templates which I use in my trading. Template names start with atr_. If there will be a problem with installation, let me now.


Trailing stop is a very good tool, when you have problem with closing positions. It is presented as a line which is away from current price. For a long position this line is below price and for short position it is above price. The distance between stop line and price is based on ATR indicator.

The biggest advantage of trailing stop loss is that it takes away emotions from closing positions. We are talking here about two kinds of situations: (more…)

Next week of drama

And again. We were watching negotiations which ended with “success” in the morning. But there is a hook. Greece has to accept few big reforms until Wednesday. In short – this is a madness , not a rescue plan. I will repeat myself, we will see more rollercoaster here.

For now, there is a support for this rollercoaster – it is a bottom of ichimoku cloud on daily eur/usd chart:

eurusd-2015-07-13-daily (more…)

Nice moves [trading day summary]

Hi. My posts are not that frequent, because of my dads healt problems. I do not want to write about my personal life because this is a trading blog. Just wanted to say that there are times when you need some extra cash – like in this example. I’m just glad that I can make money on forex and be able to help.

Anyway, to the summary.

As I wrote on weekend, we have nice moves and trade opportunities. On eur/usd there was a nice ABCD pattern, which started to form on Monday. After correction to 50% we had a signal to sell and move lasted down to the 138.2% extension. 15 min eur/usd:


Week #8 summary – what is next for eur/usd and more

First, lets have a quick look at trade opportunities from Friday. It was much better day, with stronger moves and more trading opportunities.


Here we saw an ABC pattern which started to form on Thursday. Price was below daily pivot line and below 55 moving average. After break below 0% line we saw a drop first to the 138.2% and then to the 200% extension. 15 min. eur/usd:

2015-02-21_eurusd_15min (more…)

Eur/usd in range (trading day summary)

So todays news was a German decision to reject petition from Greece about debt extension. This affected some pairs, lets check how price action looked today.

Eur/usd is still in range. Today’s range was between S1 and R1 lines. Nothing interesting on higher time frames (1-hour+). You could try to find trade opportunities on lower time frames but overall it wasn’t the easiest trading day. I don’t like to trade when there is a range and usually I try to lower my positions size (because I tend to make more mistakes). But it’s me and there are traders who like these kind of markets. (more…)