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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Thursday 18th July !!!

    Recommendations:

    Use an expiry time of 1 hour plus.
    Risk no more than 2% of your account balance.
    Tips are tradable until 4.00pm EST today.
    Trade just one Tip at a time
    USA is scheduled to release important economic data at 8.30am and 10.00am EST.


    EUR/USD: The US Dollar continued to extend its gains during the night against the euro after the greenback acquired fresh support from Bernanke comments. The pair slipped lower by just over 10 pips this morning.

    After falling initially to probe its lower Bollinger Band, the EUR/USD then rallied. However, as this corrective action does not appear sustainable, the pair is presently resetting a course downwards. As such, consider initiating a new PUT binary option structured on the EUR/USD if price slumps under 1.3070.


    USD/JPY: This pair climbed for the second consecutive trading day epitomized by the USD/JPY surging by just over 50 pips this morning. The pair rose to test its upper Bollinger Band before dipping in order to correct an overbought status.

    As the US Dollar is expected to acquire further strength today inspired by Bernanke speak, look to buy this pair following a sustained break above 100.50. However, please be aware that the publication of important US economic indicators later this morning could dramatically influence the present trading dynamics.


    GOLD TRADING: Bernanke’s promise yesterday to provide continual stimulus support until at least the end of 2013 exerted pressure on the precious metal. This is because the constant implementation of monetary easing policies dampens the hedging appeal of gold against inflation.

    Consequently, after bullion crashed by over $25.00 per oz yesterday, it has succeeded in stabilizing this morning. Although gold spiked higher by nearly $4 per oz on market reopen, it has only inched upwards since then with little conviction. Look to activate a PUT binary option if a positive break below $1,277.80 can be achieved.


    GBP/USD: Investors sprinted to support the British pound earlier this morning after the UK published economic indicators which surprisingly surpassed analysts’ expectations. Retail Sales jumped to 2.2% compared to the forecasted 1.7% causing the GBP/USD to surge higher and challenger its upper Bollinger Band.

    However, after being assertively rebuffed by that level, the pair has dipped sharply in the last couple of hours. With Bernanke comments underpinning the greenback, analysts are now predicting that the pair will weaken further today. Sell the GBP/USD if price drops beneath 1.5180.

  2. #2
    Specialist Member TAllen1429's Avatar
    EUR/USD tip has just been activated.

    Direction: PUT at 8.45 am EST
    Opening Price: 1.30782
    Expiry Time: 1 hour
    Payout Ratio: 80%
    Wagered: 2% of equity

  3. #3
    Specialist Member TAllen1429's Avatar
    Well that EUR/USD trade was an unmitigated disaster.

    Closed about 1.3084 finishing well 'out-of-the-money'.

    Not having a good week so far as a couple of losses have been knocked up.

    In addition, many of the tips have not been activated as economic indicators and Fed speeches have significantly influenced
    the trading dynamics after publication. As long as I am not racking up a sequence of losses then I tend not to be unduly concerned.

  4. #4
    Legendry Member milos's Avatar
    Yesterday was a very bad day for trading. So I decided not to trade yesterday.No trade is the best trade.. Yesterday all charts was showed stabilization for currency pair EURUSD about 1.30900 and ongoing trend but the price fell down.

  5. #5
    Specialist Member TAllen1429's Avatar
    Hi Milos, sounds like you have developed a good policy about not trading when conditions do not support such actions.

    I have found that some of the biggest problems that I have encountered when trading binary options are its grey areas?

    How to tell when it is best not to trade on a particular day?

    When is the optimum time to stop trading during a day to persevere a profit and prevent suffering a bout of serious losses?

    etc.

  6. #6
    Legendry Member milos's Avatar
    Quote Originally Posted by TAllen1429 View Post
    Hi Milos, sounds like you have developed a good policy about not trading when conditions do not support such actions.

    I have found that some of the biggest problems that I have encountered when trading binary options are its grey areas?

    How to tell when it is best not to trade on a particular day?

    When is the optimum time to stop trading during a day to persevere a profit and prevent suffering a bout of serious losses?

    etc.
    Click image for larger version. 

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    You
    You have to avoid ranking market.Also you can see in the same day interest rate decision for euro and pound.You have to watch at the same time eurusd.gbpusd,eurgbp ..It was published mixed economic data and this is made confusion by traders....Yesterday was the similar situation.I hope so it can help it. I have been watching very carefully your daily tips...You did it excellent...Forex Calendar is the most important.

  7. #7
    Senior Member raymond09's Avatar
    Thanks for your Nice Tips and helpful suggestion. I am a Regular GOLD trader. I know gold trading is much risky than Currencies. But I love to trade with it because I feel comfort. As a Scalper am following some Candle Strategies for me. Based on Support and Resistance point, I am doing my Trade.

  8. #8
    Specialist Member TAllen1429's Avatar
    Quote Originally Posted by milos View Post
    Click image for larger version. 

Name:	bad day trading.jpg 
Views:	10 
Size:	92.1 KB 
ID:	700

    You
    You have to avoid ranking market.Also you can see in the same day interest rate decision for euro and pound.You have to watch at the same time eurusd.gbpusd,eurgbp ..It was published mixed economic data and this is made confusion by traders....Yesterday was the similar situation.I hope so it can help it. I have been watching very carefully your daily tips...You did it excellent...Forex Calendar is the most important.
    You have identified a very good technique to help determine whether it is worth trading on a particular day.

  9. #9
    Specialist Member TAllen1429's Avatar
    Quote Originally Posted by raymond09 View Post
    Thanks for your Nice Tips and helpful suggestion. I am a Regular GOLD trader. I know gold trading is much risky than Currencies. But I love to trade with it because I feel comfort. As a Scalper am following some Candle Strategies for me. Based on Support and Resistance point, I am doing my Trade.
    Thanks for your support and comments. What are the candlestick scalping strategies are you using or have you already posted these details on another thread?

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