autotrader1

USD/CHF DAILY as of Tuesday, 26 March, 2013 A Daily big white candle has formed. This is a bullish candle as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area (e.g., a moving average, trend line, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout. For the past 10 Daily candlestick bars as of 25/03/2013, there are 5 white candles versus 5 black candles. For the past 50 Daily candlestick bars as of 25/03/2013, there are 24 white candles versus 26 black candles with a net of 2 black candles. A Daily engulfing bullish line has formed (where a white candle's real body completely contains the previous black candle's real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls. If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with US Dollar / Swiss Franc), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.A Daily piercing line has formed (which indicates that prices moved down on the previous bar, opened even lower, but then closed significantly higher). This implies strength as the momentum appears to be shifting from the bears to the bulls. Note that the higher the close of the white candle (relative to the black candle), the more bullish the Piercing Line pattern. SAR trigger a sell signal 6 days ago. The close is currently ABOVE its 200 daily moving average ABOVE its 50 daily moving average ABOVE its 20 daily moving average The current market condition for US Dollar / Swiss Franc is Very Bullish

USD/JPY DAILY as of Tuesday, 26 March, 2013 The RSI has just reached its lowest value in the last 14 period(s). This is BEARISH signal. SAR signal was a Sell 2 days ago. The close is currently ABOVE its 200 daily moving average ABOVE its 50 daily moving average BELOW its 20 daily moving average The current market condition for US Dollar / Japanese Yen is Bullish A Daily black body has formed (because prices closed lower than they opened). For the past 10 Daily candlestick bars as of 25/03/2013, there are 3 white candles versus 7 black candles with a net of 4 black candles. For the past 50 Daily candlestick bars as of 25/03/2013, there are 24 white candles versus 26 black candles with a net of 2 black candles. Three Daily black candles has formed during the last three Daily bars. Although these candles were not big enough to create three Daily black crows, the steady downward pattern is bearish.

EUR/USD DAILY as of Tuesday, 26 March, 2013 Currently the RSI does not show any Failure Swings but Prices has set a new 14-period low while the RSI has not. This is a BULLISH DIVERGENCE. A SAR Buy signal yesterday. If you are short, this might be a good place to exit. The close is currently BELOW its 200 daily moving average BELOW its 50 daily moving average BELOW its 20 daily moving average The current market condition for Euro Dollar / US Dollar is Very Bearish A Daily big black candle has formed. This is a bearish candle as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trend line, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area. For the past 10 Daily candlestick bars as of 25/03/2013, there are 5 white candles versus 5 black candles. For the past 50 Daily candlestick bars as of 25/03/2013, there are 23 white candles versus 27 black candles with a net of 4 black candles. A Daily engulfing bearish line has formed (where a black candle's real body completely contains the previous white candle's real body). The engulfing bearish pattern is bearish during an uptrend. It signifies that the momentum may be shifting from the bulls to the bears. If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with Euro Dollar / US Dollar), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.

EUR/USD DAILY as of Sunday, 24 March, 2013 Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4. The present wave patterns are: fast amplitude (8%): bullish wave 1 moderate amplitude (13%): bullish wave 3 Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bullish pattern! It should be used with other indicators. Euro Dollar / US Dollar is long term Bearish as the 144 days moving average of 1.31 is decreasing. The Relative Strength Index is at 45.01 in the neutral territory. The Relative Momentum Index is at 23.12 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.02, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 61.35. This value is in the neutral territory.

USD/JPY WEEKLY as of Monday, 18 March, 2013 The present wave patterns are: fast amplitude (8%): bullish wave C moderate amplitude (13%): bullish wave 1 US Dollar / Japanese Yen is long term Bullish as the 144 days moving average of 84.36 is increasing. The Relative Strength Index is at 84.70 in the overbought territory. The Relative Momentum Index is at 92.80 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 8.51, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 64.99. This value is in the neutral territory. The close is currently ABOVE its 200 weekly moving average ABOVE its 90 weekly moving average ABOVE its 30 weekly moving average The current market condition for US Dollar / Japanese Yen is Very Bullish

USD/CHF WEEKLY as of Monday, 18 March, 2013 A Weekly black body has formed (because prices closed lower than they opened). For the past 10 Weekly candlestick bars as of 15/03/2013, there are 6 white candles versus 4 black candles with a net of 2 white candles. For the past 50 Weekly candlestick bars as of 15/03/2013, there are 25 white candles versus 24 black candles with a net of 1 white candles. A Weekly engulfing bearish line has formed (where a black candle's real body completely contains the previous white candle's real body). The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with US Dollar / Swiss Franc). It signifies that the momentum may be shifting from the bulls to the bears. If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body. Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for US Dollar / Swiss Franc. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4. The present wave patterns are: fast amplitude (8%): bullish wave 2 moderate amplitude (13%): bullish wave 1 normal amplitude (21%): bullish wave 1 US Dollar / Swiss Franc is long term Bearish as the 144 days moving average of 0.95 is decreasing. The Relative Strength Index is at 52.38 in the neutral territory. The Relative Momentum Index is at 54.15 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.01, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 88.36. This value is in the overbought territory.

EUR/USD WEEKLY as of Monday, 18 March, 2013 A Weekly white body has formed (because prices closed higher than they opened). For the past 10 Weekly candlestick bars as of 15/03/2013, there are 4 white candles versus 5 black candles with a net of 1 black candles. For the past 50 Weekly candlestick bars as of 15/03/2013, there are 24 white candles versus 25 black candles with a net of 1 black candles. A Weekly engulfing bullish line has formed (where a white candle's real body completely contains the previous black candle's real body). The engulfing bullish pattern is bullish during a downtrend(which appears to be the case with Euro Dollar / US Dollar). It then signifies that the momentum may be shifting from the bears to the bulls. If the engulfing bullish pattern occurs during an uptrend, it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body. Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4. The present wave patterns are: fast amplitude (8%): bullish wave 1 moderate amplitude (13%): bullish wave 3 Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bearish pattern! It should be used with other indicators. Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.33 is increasing. The Relative Strength Index is at 49.56 in the neutral territory. The Relative Momentum Index is at 53.16 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.00, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 4.04. This value is in the oversold territory.

Traders must be cautious when choosing a mentor online. there are many fraudster and scammers claiming that they can teach you to trade with profits. I personally dont trust them. If they are so good why they mentor others; they can easily made millions or perhaps billions themselves. So traders here have to be extra cautious. Instead of getting a mentor why not invest in a good EA or robot.

Discipline alone will not help a trader to succeed. There are other criteria which you require in order to succeed. Among them is you must be able to control your emotions during trading; never let your emotions to control your trading. You must also determine what kind of trading that suits your style, intraday, position trading, etc.....then you have to choose a trading strategy to suit your trading style. Always adhere to your trading plan!!!!!

Many traders do not place stop oders but they already have plan their stop loss exit point/price. They prefer to execute their stop loss manually. When market reaches the stop loss order price it becomes a market order; in many cases the prices executed are not better prices but are the worst prices.

Do not over trade. Never trade more than 25% of your equity. If you found that your analysis is wrong or the market has turned cut your losses fast and switch, don't wait till your stop loss order to be executed. Never add to a lossing position; cut your losses fast.

XAU/USD DAILY as of Tuesday, 05 March, 2013 Wave 4 of moderate (13%) amplitude has crossed a threshold where the probability of a failure is higher. This wave could turn into an impulse wave 1 of opposite trend. Wait until wave resumes a normal pattern or a wave 1 is confirmed. The present wave patterns are: fast amplitude (8%): bearish wave 1 moderate amplitude (13%): bullish wave 4 Gold / US Dollar is long term Bearish as the 144 days moving average of 1,666.68 is decreasing. The Relative Strength Index is at 33.89 in the neutral territory. The Relative Momentum Index is at 21.86 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -44.87, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 60.63. This value is in the neutral territory. Elliott Waves High Volatility has detected an Isolated Low at 1,566.88 one bar ago ; this is usually a bullish sign that is not to be used alone! Elliott Waves High Volatility has detected an Isolated High at 1,602.76 one bar ago; this is usually a bearish sign Buy Gold intraday with target at 1582.60 with stop loss at 1561.40

Euro Dollar / US Dollar broke below the downside support level of 1.31, 1 day ago. This is a bearish sign. This previous support level of 1.31 may now provide upside resistance. Prices having only declined 0.31% since the breakout, the validity of the breakout is questionable. The most recently confirmed upside resistance level for Euro Dollar / US Dollar is around 1.34. Expect prices to have some difficulty rising above this level. A break above this level would be a bullish sign.

EUR/USD DAILY as of Friday, 01 March, 2013 Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4. The present wave patterns are: fast amplitude (8%): bullish wave 1 moderate amplitude (13%): bullish wave 3 Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.31 is increasing. The Relative Strength Index is at 36.23 in the neutral territory. The Relative Momentum Index is at 31.63 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.02, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 25.06. This value is in the oversold territory. Elliott Waves High Volatility has detected an Isolated High at 1.32 one bar ago; this is usually a bearish sign

XAU/USD DAILY as of Friday, 01 March, 2013 Wave 4 of moderate (13%) amplitude has crossed a threshold where the probability of a failure is higher. This wave could turn into an impulse wave 1 of opposite trend. The present wave patterns are: fast amplitude (8%): bearish wave 1 moderate amplitude (13%): bullish wave 4 Gold / US Dollar is long term Bearish as the 144 days moving average of 1,669.25 is decreasing. The Relative Strength Index is at 35.09 in the neutral territory. The Relative Momentum Index is at 23.05 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -44.63, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 81.09. This value is in the overbought territory.