Forex Training

Forex Training is something we experience day in and day out. As a Forex coach and a day trader for my personal account I find my self being trained by the markets each day. The learning experience is new each day. I enjoy trading forex for this reason, and I love to give Forex Training to my students in the Euro sessions each day.

In the last couple of days the Australian Dollar lost ground again against the US dollar. Smart money is still net short in the pair and has been since Mid/Late May. Short positions reached  some extreme levels and we saw profit taking in late summer. The decrease of short position from large and small speculators brought the pair back the 50% Fibonacci retracement level at 97.15 where it met sellers again. Since then we saw speculator increase their short position again and we did hit the 90.00 area  today. This could be a turnaround point for the pair at least short term. It hit the 161.8 Fibonacci expansion of the first impulse wave to the down side which could complete the 5 wave count. The pair formed a double bottom in the 30min chart. I think we could bounce here to the 92.00 area and go back to 100% Fib expansion level. I remain bearish for the medium term outlook as long as the smart money stays short and retail traders are long. The short term bias is slightly bullish though as we hit the 161.8 Fib downside target at 90.00. I will look for long positions if I see retail trader getting out of their longs. I will also watch the next COT report to see if we got back to extreme net short positions levels or not. Make sure you join our youtube channel and our twitter to get all the recent updates.

Recap 12-05-2013 (Euro Session)
By Marco Hering (FT)
European Trading Office
www.fxlivedaytrading.com 

Today was a day filled with spikes to sum it all up. We were very organized in our planning today in the U.S. trading session. We had our buy target set on the EUR/USD at 1.3625 this was triggered and we bought this pair as it made a new high. The spike came after the question and answer session taking place from the ECB. Mario was at it again talking up the Euro. You must wonder what are they thinking? Are they all in it together? I would not be surprised. The fact of the matter is that many of the Euro Countries must see the Euro at 1.3000 to stay competitive, with the Euro above 1.3600 you must wonder if these leaders even care about their Countries. Anyway I don't write the rules I just trade. I love trading and the passion for trading is one that can make you rich or broke depending what path you take. I hope we can help you in our Trading Room to shed some light on day trading for you. We have Forex Training sessions daily in both Euro as well as U.S. session. Please see my video below to help give you an idea of why we took the trade today in the U.S. trading room.

All The Best,

Gerard (BT)

U.S. Session Recap 12-05-2013
By Gerard Mastra
U.S. Trading Office
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