Trading University Daily

The Euro continued last Friday’s recovery rally by challenging the 140 level, putting itself into a position to re-test the 2010 highs at 142.80. A strong yen lent stability to the majors as the Bank of Japan’s actions in the face of the horrible situation there continues to remind traders that as bad as the [...]

That government’s have contingency plans to stabilize their financial markets under any circumstances should come as no surprise. What was a surprise, in the case of last Friday’s terrible earthquake, was the speed which Japan did so. Yen shorts were stopped out before most Western traders even knew about the tragedy. Any speculator who did [...]

The first thing I do every morning, before opening my screen to the clients, is make a determination as to which currency markets are in uptrends, and which currencies are in down-trends. I rely on the current direction of both the Weekly and Daily charts to make this determination.  Once I have qualified the markets by direction, I open up the shop. Today was [...]

In order to be successful at position trading you either have to not think at all, because you understand that you can trust the chart because price patterns and trends are created by nature, society and economics, or, think like someone who both has a lot of money, and makes a lot money. One thing I’ve learned over the years is [...]

Directional trading, also known as discretionary trading, is what most retail traders strive to succeed at. In this type of trading the traders attempt to figure out the market’s current direction, and either position themselves in that direction at the most opportune time, or wait till the market changes direction and position themselves to be [...]

EURUSD The dominant technical event for the Euro is still that it reversed the course of its monthly trend in November to bearish against the Greenback in sympathy with higher U.S. long-term rates. It is still however above a confluence of support between the 3-month low at approx 130.00 and the 50% retracement of the [...]