Forex video showing the highlights for the days trading based on this AM’s morning currency analysis. some break out trades but also some fib set ups as well

Its been a bit of a mixed bag of trading this week for me with some choppy conditions mid week as we discussed but essentially a good way to end the week.

Personally not planning on holding the swing portions over the weekend this time and cashing out as soon as the market will allow me to

As I’m typing most of the trades have been closed out… with many +100 pip moves locked in from entry to exit.

Patience was certainly a virtue for today’s trading as I had to sit through a lot of sideways movements… Best advice during time like this when you get itchy fingers to be doing something is to remember that no action is a perfectly valid decision to take if that is what the market is telling you… Sit on your hands if you have to.

Have a great weekend

Phil

Hi Folks,

Today’s video showing some of the trading set ups that I’m looking at on the currency pairs I’m watching for today. there are some nice early movements so far that have already triggered since recording the video, not too many break out set ups today again but some good patterns developing.

Enjoy

Phil

Hi Good morning folks,

Not a great deal setting up from the break out trading point of view yet again today… there are a few Fib set ups develops on those pairs that have put in ATR or the majority of ATR’s already during the Asian session but could quite easily be another day like yesterday where not a great deal actually happen.

Have a good day

Enjoy

Phil

Hi Folks,

Today’s view of what is potentially setting up for me, which to be quite honest isn’t a great deal today.  Nothing really setting up in the ideal locations for me in the ideal way.

As I’ve said in the Live Trading Room if you want at the very least a morning off and see what develops this afternoon in then please do so or if you want the day off I don’t think that you will miss much action at all today as price continues to set up some early signs of consolidation on most of the currency cross rates.

Enjoy

Phil

Hi Folks

Todays video view of the current set ups that I’m looking at for today and also showing why I’m not looking at some pairs or what I’m waiting for to happen.

I think the main thing to consider from todays current price action is dont forget the big picture as there are still some larger considerations and patterns to account for Average days ranges for example on the USD cross rates.

Hi Folks,

UK Bank holiday today and to cut a long story short days like today are normally one of two extremes. Either we will see some mad dog movements OR we will see some sloppy, little or no movements due to reduced volumes during the UK session

GBPUSD and EURUSD have already seen about 65-70% of average days moves already so far and while you can see extended movements beyond these levels the chances are reduced as far as I’m concerned for the moment.

Hi Folks,

I was taking a look at some of Pierre’s writing on his blog and this post caught my attention.

This is one of those subjects that I like to mention to my students all the time, trading is a business and it should be treated as such… but what if you work for someone and not been a in a position before to run your own company or manage one or run a large department where you can pick up those skills that you can use when you start your trading career?

Pierre raises some excellent points and questions for you to consider. Read bellow

I’ve written about this in the past and will continue to write about it in the future as I believe it is the most important piece for most traders to understand.

First of all; here a few questions to ask yourself

* How much money do you expect to make from trading? $1,000/month, $10,000/month, $1,000,000?

* Do you have a plan on how you will get there? How much you should increase every month towards your goal?……

See the rest of Pierre Charlebois post on The Disciplined Trader Blog

Hi folks,

What a great way to end the week… not one monetary loss trade… If only it was always like this… enjoy it while it lasts

Once again Standard trade set ups folks, break outs across the charts take your pick of the pairs today.. you should all have seen some great moves either quite early on or with a little patience as on the cadjpy cadchf eventually produce the pips for you.

Enjoy

Phil

• Weekly FX Street Presentation Every Wednesday at 10:00 gmt 
• Trading Breakouts Strategy - ARTICLE 
• Trading Breakouts Strategy - VIDEO 
• FX Street Members Discount to my Daily Live Trading Room

Todays forex video showing todays currency trade set ups

Have a good days trading

Phil

• Weekly FX Street Presentation Every Wednesday at 10:00 gmt 
• Trading Breakouts Strategy - ARTICLE 
• Trading Breakouts Strategy - VIDEO 
• FX Street Members Discount to my Daily Live Trading Room

Hi Folks,

Just a short video today… not a great deal of change to the slightly larger picture on he USD cross rates and for that matter on some of the other cross rates as well.

We saw some early movements this am but in the big picture the usd rates are still range bound as well as some of the other cross rates like GBPCHF

ATR’s have been done quite early today so looking for Fib set ups to enter into these movements if they set up.

Have a good days trading

Phil

• Weekly FX Street Presentation Every Wednesday at 10:00 gmt 
• Trading Breakouts Strategy - ARTICLE 
• Trading Breakouts Strategy - VIDEO 
• FX Street Members Discount to my Daily Live Trading Room