Friday, August 23, 2013

Long GBP/JPY Trading Signal

Hi All,

Here is my current trade on the 4HR chart. It's a long GBPJPY trade. The first position closed at 160 PIPs second one is still open for a TP target at 157.502 for 300 pips.

GBPJPY trade

Technical Analysis:

It's a still an uptrend on the daily and 4HR charts. I was waiting for a retracement at the weekly pivot then a continuation which was confirmed on the 21st of August when the price closed above my SMAs.

Fundamental Analysis:

UK GDP is estimated to raise above 0.7%, which is better the previous estimate 0.6% GDP with that an expected move to the north is more likely to happen next week.

Mohamed Rabea - ForexFaqs.Net
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Thursday, May 30, 2013

Myfxpedia Review

Myfxpedia Review
Myfxpedia is a new player in the market offering Forex signals copied right in to your MT4 account.

I was really impressed after I started using Myfxpedia a while ago. It might be a bit early to give the green light for everyone to jump in but if you are a risk taker and you don’t care about losing a couple of hundred dollars then this might be worth it.

What I really liked about myfxpedia so far is their ability to keep losses controlled and recovery is usually very quick. Besides, their customer service is not bad at all.

They offer different plans, mainly you can get the signals via SMS/email or you can sign up for the copier service which will place the trades on your account for you automatically and this is the one that I picked since its very convenient.

I can't say that their service is cheap they start with $98/month all the way to $589/month depending on what kind of plan you choose.

My advice to you would be to start for a single month on the trade copier plan which is $129 and then you can decide whether to keep using their service after you assess their performance.

I will keep an eye on my account and keep posting updates on that one.

Mohamed Rabea - ForexFaqs.Net
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Sunday, May 26, 2013

Top Forex Candlestick Patterns

Candlestick charts basically shows the behavior of the market in a very simple and effective way. It summarizes the war between buyers and sellers which makes it easier for you to make a decision whether to go long or short.


The body of the candle shows the open price and the close price in any given time-frame. The wicks or tails shows that the price went to that area but didn’t have the strength to close or move beyond it.  So if you are on a 1 hour chart then the candle will represent the price open, close, low and high of a 1 hour period.

Here are some of the top candlestick patterns and most powerful signals explained.

Hammer










This hammer gives a bullish signal reversal in a down trend. The tail should be at least as twice as big as the body. The long lower tail shows that the price got a lot of resistance almost instantly when it touched that level which is a very strong reversal candle. It makes more sense trading this candle off support and resistance lines or pivot lines.

Doji







Doji happens when the price action is pretty weak and the open/close prices are almost at the same level. It is a sign of exhaustion.

Engulfing candles












This is one of my favorites as its pretty accurate most of the time. This happens when the sellers overpower the buyers or vice versa. As in the screenshot above when the current candle engulf the previous candle and goes to the opposite direction its a very strong signal.

My #1 Candlestick Setup











This one is my personal #1 favorite setup. It’s a mix of a hammer candle that engulfs a previous doji. It might be a bit rare but when you find it you will be able to make some good money off that one.

In conclusion candlestick patterns are one of the best indicators you can use. In fact most successful traders use an empty candlestick chart to understand the price action and enter their trades based on those actions without the use of any other indicator.

Mohamed Rabea - ForexFaqs.Net
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Friday, April 5, 2013

Best Forex Signals Free

4th of April, +66 pips in profit Buying USD/JPY

 

Closed a BUY USD/JPY position at 96.327
Closed a BUY USD/JPY position at 96.327
Closed a BUY GBP/USD position at 1.5196

Total PnL: $93 

Mohamed Rabea - ForexFaqs.Net
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Friday, March 29, 2013

Swing Trading Forex Signals

28th of March, +110 pips in profit selling EUR/USD

 

#18259259 sell 0.10 EURUSD at 1.28129
sl: 1.28067 tp: 0.00000
closed 0.10 at 1.27771

#18259302 sell 0.10 EURUSD at 1.28138
sl: 1.28067 tp: 0.00000
closed 0.10 at 1.27770

#18259327 sell 0.10 EURUSD at 1.28166
sl: 1.28067 tp: 0.00000
closed 0.10 at 1.27770

Total: 110 pips in profit.

Mohamed Rabea - ForexFaqs.Net
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Monday, March 25, 2013

Forex Buy Signals - Buy EUR/USD

26 March, +205 pips in profit buying EUR/USD



Closed a BUY EUR/USD position at 1.2983 PnL: $27.6
Closed a BUY EUR/USD position at 1.30412 PnL: $85.8
Closed a BUY EUR/USD position at 1.30409 PnL: $93.8
Total: +205 pips

Mohamed Rabea - ForexFaqs.Net
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Friday, March 15, 2013

Forex Alerts Signals

Closed a BUY USD/CHF position at 0.94914 PnL: $11.69
Closed a BUY USD/CHF position at 0.95489 PnL: $68.7
Total of +80 pips.



Mohamed Rabea - ForexFaqs.Net
Follow & Copy Experts For Free! - Find the best traders in the world's largest investment network, Copy everything they do into your account Make their success your own. Get Your Free Account Now.