One of the best practices when it comes to trading is to have a trading journal. Think of a trading journal as your battle plan / strategy. Traders should spend time to analyze the market ideally during the quiet period, such as the Asian session and plan trades for the coming session. When I get to know new traders and […]

Elliott wave is a pattern-based forecasting tool. The Theory was developed in 1930 and it is known for the idea that the Market advances in 5 waves and pullback in 3 waves. The Theory explains that the trend is always in 5 waves, and the trader needs to buy/sell against the beginning of wave 1 to make […]

Short term Elliott wave count suggests that rally to 1342.26 ended wave ((x)). Decline from there is unfolding as a double three where wave (w) ended at 1318.2 and wave (x) ended at 1325.52. While near term bounce in wave x stays below 1325.52, expect Gold to turn lower in wave (y) of ((y)) towards 1291 […]

Fed Chairwoman Janet Yellen and other Fed members gave hawkish comments at Jackson Hole meeting last week, boosting the U.S. dollar against several currencies. Janet Yellen suggested that in light of the solid performance in the labor market, the case for an increase in federal funds rate has strengthened in recent months. However, she did not specifically say […]

Preferred Elliott wave count suggests that decline to 1.0384 on 8/26 ended wave X. While pair remains above the level, expect further upside to 1.0488 – 1.051 area to complete wave w before ending the cycle from 8/26 low. Afterwards, a pullback in wave x is expected to take place to correct the rally from 8/26 low […]

We issued a market buy order for $NZDUSD on Aug 17 Live Trading Room. We adjusted the target profit on Aug 23 to 0.738 and took profit on Aug 26 for a +144 pips profit. Each day in Live Trading Room, members attending the session will receive a similar trading journal like the one below for 26 instrument we cover   […]