All sorts of traps for unwary forex traders!!
For forex traders, there are many different traps waiting to be sprung, and in the London forex trading session this is yet another example, this time for the European fundamental news on the GBP/USD.
https://youtu.be/4DOS5-a7dpk
00:10
Introduction to fast timeframe scalping
00:10
The speaker welcomes viewers and begins by discussing a fast 15-second trading timeframe they frequently use for scalping. They emphasize the value of using quick charts, such as a one-minute chart with NinjaTrader or a similar platform, especially when learning volume price analysis (VPA). The speaker highlights that fast charts allow traders to grasp lessons rapidly by observing market behavior closely, using the example of the London market open to illustrate these concepts.
01:17
Analyzing London open volume and price action
01:17
The discussion focuses on analyzing price action and volume during the London open, about 15 minutes into the session. The speaker highlights the importance of comparing volume and price within the same session to identify anomalies. They point...
Fundamental data takes a back seat as the pandemic continues to dominate so patience required!
With markets remaining nervous as the pandemic continues to dominate and fundamentals take a back seat, patience is required in these tricky market trading conditions.
https://youtu.be/0fk3C9KbKOQ
00:12
Initial PMI data and market reaction
00:12
The speaker discusses monitoring recent market activity related to PMI data releases. They note that the first data set, a French PMI, was released quickly, but emphasize the German PMI at 8:30 as more important. The market reaction is positive, with 50 identified as a key inflection point.
00:47
Understanding PMI inflection point at 50
00:47
The speaker discusses analyzing fundamental data through graphical representations similar to market charts. They explain that a value above 50 indicates a well-performing market economy. The graph shows a sharp decline caused by the economic shutdowns due to the virus.
01:24
Context of unusual economic environment
01:24
The speaker discusses the unusual and abnormal context of the past two to three months, emphasizing that the environment has been far...
Yes, you can use the forex-specific indicators for trading currency futures!
One of the questions we are often asked is whether you can use the currency specific indicators for trading currency futures, and the short answer is yes, and we explain how in the video.
https://youtu.be/-IAw1BJRqts
00:11
Introduction to currency futures and workspace setup
00:11
The speaker explains their transition from spot markets to currency futures to avoid the volatility of spot trading. They describe their workspace setup, using the CSI on a five-minute timeframe and the currency matrix on a ten-minute timeframe. The focus is on futures contracts, specifically the 6A contract, which are larger and more substantial than typical spot market contracts.
00:42
Explanation of futures contract notation and currency pairs
00:42
The segment explains different currency futures contracts, highlighting that the Aussie dollar is represented as 6B, and the pound as 'cable'. It discusses the 6E contract, noting the Canadian dollar is shown unusually as CAD dollar, not dollar CAD, because futures contracts use the dollar as...
Where next for the pound yen currency pair?
In this portion of the US futures trading webclass we move to the spot forex markets and take in the GBP/JPY and see where it is heading based on the current trend.
https://youtu.be/4jPioInlNyg
00:17
Trading the British Pound pairs overview
00:17
The speaker introduces a focus on analyzing the British Pound through two currency pairs: GBP/AUD and GBP/JPY. They emphasize understanding the chart's structure to determine whether the market is trending or in a congestion phase, which guides what actions to take when reading the chart.
00:57
Developing trading tactics and setups
00:57
The speaker discusses developing trading tactics or strategies as part of a program. Traders create specific setups based on chart patterns, such as reversals, with defined parameters that suit their personality and have proven successful. They emphasize the importance of waiting patiently for the right setup and understanding key concepts like price action and volume before making trading decisions.
02:06
Understanding chart structures and price action
02:06
The speaker discusses analyzing chart structure,...
What we are always looking for: divergence!
In this session from the forex trading webclass, Anna explains one of the fundamental principles for trading currencies, which is to identify divergence, which then results in a strong trend.
https://youtu.be/-5ubJ29_EsQ
00:11
Introduction to Pound Aussie and Euro Aussie analysis
00:11
The segment begins with an analysis of the Euro-Aussie currency pair, highlighting a potential reversal forming. The speaker then shifts focus to the Pound-Aussie pair, continuing the previous day's narrative. By isolating the Pound and Aussie currencies using the CSI index, they note that both have generally been selling off. However, because both currencies moved similarly during this timeframe, it led to a congestion phase rather than a clear trend, contrasting with the Euro-Aussie's trend.
01:24
Congestion phase and lack of divergence in Pound Aussie
01:24
The discussion focuses on a lack of divergence in the Pound/Aussie currency pair at the moment, noting that the price is currently congesting around the 80 to 55 levels. Using the three-minute chart, an example of...
Volume or price based support and resistance - here we use both!
Many forex traders are familiar with price based support and resistance but few use volume. In this session from the forex trading webclass you will discover the power of both when used together.
https://youtu.be/jXM8xgVjiB8
00:00
Introduction and disclaimer
00:00
The speaker welcomes everyone to the morning session and apologizes for the delay caused by the necessary disclaimer, which is a mandatory part of every webinar. They acknowledge some distractions due to recent price action in the market and remind viewers that trading involves significant risk.
00:30
Overview of Valen price analysis methodology
00:30
The speaker advises against using money you cannot afford to lose and introduces the Valen price analysis methodology used for market evaluation. This approach combines technical chart analysis with an understanding of fundamental factors and related markets, such as equities and bonds. Success in Forex trading, especially for the long term, requires integrating both chart signals and broader market fundamentals.
01:39
Drivers of Forex price action
01:39
The speaker...
The psychology of trading - do you have the patience?
The tactic of trading reversals takes patience, and something you may not have in abundance. In this example we take a look at the EUR/CAD with the euro heavily overbought and the Canadian dollar equally heavily oversold on the currency strength indicator for NinjaTrader.
https://youtu.be/AQqakclQlq4
00:10
Switching focus to Euro CAD pair
00:10
The speaker switches focus to the Euro CAD currency pair for a specific reason related to previous analysis using multiple CSIs. They compare Euro CAD with Euro Ozzie and mention that similar to the Pound Ozzie, there is congestion and falling trends observed in the Pound Ozzie pair.
00:45
Euro rollover and market selling pressure
00:45
The discussion focuses on the Euro rollover, indicating selling pressure on the Euro in the market. This selling is also impacting the Euro/Australian Dollar pair, showing a downward movement. The speaker questions which currency pair to monitor, noting that pairs involving the Euro often move in the same direction, similar to...
