Analysis of a trend on the GBP/JPY 10 minute chart
An analysis of the ten minute chart for the GBP/JPY currency pair using volume price analysis and the Wyckoff methodology.
https://youtu.be/V_6eTRlpyhc
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MT4 vs MT5 chart flexibility and platforms
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The speaker discusses the flexibility of MT4 and MT5 platforms compared to NinjaTrader. MT5 offers more time frames than MT4, but these are only time-based charts without tick or second charts. Users are limited to what the platform provides unless they switch to platforms like NinjaTrader, which offer more features. The speaker also mentions upcoming integration with TradeStation for futures trading and explains that on MT platforms, futures contracts such as the VIX are synthetic versions rather than actual contracts.
01:18
Trading cash indices vs futures contracts
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The UK 100 cash index is discussed as a popular market among traders, including forex traders, who appreciate access to diverse markets. The US 30 cash index, equivalent to the Dow Jones, is also mentioned, noting that its values closely track both...
Canadian dollar crushed as oil prices tumble
One of the relationships I cover in my free forex webclass is that between oil and the Canadian dollar, and it has never been more important following today's dramatic price action for both crude oil itself and broad market sentiment. So, with equity markets and oil in free fall, the CAD/JPY pair has delivered some wonderful trading opportunities, along with several others in the Canadian dollar complex. The combination of risk-off and oil has driven the pair lower still, following the gapped-down open under heavy selling as seen on the daily chart. Over the next few days it will be a question of watching the related markets of oil and equities for any recovery in the Canadian dollar.
The Canada-Oil Relationship: A Deep Dive into Economic Ties and Currency Market Impacts
Canada, often dubbed the "Great White North," is not just known for its vast landscapes and maple syrup—it's a powerhouse in global energy markets, particularly...
Muted reaction to NFP for equities
Fundamental news is often cyclical, and the importance of one type will vary according to where we are in the economic cycle. In addition, such items may be overshadowed by more prescient news, and this is certainly the case at present with the coronavirus dominating world headlines and driving fear in the markets. So it was no surprise to see the monthly NFP release have little impact on US indices, which paused momentarily before continuing their journey South as we can see across the three sisters here of the YM emini, the NQ emini and the ES emini. Note the weakness in the reaction at the top of the 5 m charts.
Non-Farm Payroll (NFP): A Key Economic Indicator for Traders
Non-Farm Payroll (NFP) is one of the most anticipated economic releases in the trading world. Issued monthly by the U.S. Bureau of Labor Statistics, NFP reports the change in U.S. employment excluding farm workers, private household...
Crossover session traps
The crossover sessions in forex occur when trading in one timezone closes and another opens and can be a very dangerous time for traders. Why? Because this is where insider traps are set. The London open always is a fertile ground and there was a great example on the usd/jpy.
Heavy buying in the pair on the previous day resulted in a nice move higher in Asia with the pair moving into consolidation ahead of the London open.
Prior to the open the pair started to move higher on reasonable volume but reversed lower at the open on high volume until the hammer candle, again on high volume pushed the pair back towards the consolidation (the yellow line on the chart).
Session Crossover Traps: How Market Makers Catch Unwary Traders (and How to Avoid Them)
The session crossover — the moment one major trading session hands over to the next — is one of the most dangerous times of the day for...
