ForexPros Daily Analysis March 14, 2011
Free webinar on ForexPros and FuturesPros - The Forex and Futures Markets
Expert: Jay Wireman
Start: Thu, Mar 17, 2011, 10:00 ET
End: Thu, Mar 17, 2011, 11:00 ET
Watch how Jay identifies an explosive chart pattern that alerts you a big move is about to occur in the futures and forex markets. This leading indicator is a coil in the market and gives the day trader a heads up when the price range is getting tighter and that an ensuing explosive move is coming. This newly released indicator is a must see for anyone trading the futures and forex markets. Once plotted, it almost always leads to an explosive move in price action. This works on all markets.
Learn how to trade institutional holes in the market that can produce large reward to risk trades. Combine these levels with Market Profile and you have a very powerful combination. These important levels will call the highs and lows consistently on a daily basis and put you on a level playing field with the institutions.
Learn what a coil in the market is and how to trade this explosive pattern
Learn how to trade the intraday institutional holes in the market that can produce large moves
Learn how to trade minutes after news releases to the EXACT bar with my news methodology
I will play my recent live trade from this months Non Farm payroll report and my Crude Oil trade that produced over a 100 ticks
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On the daily, the euro broke through its short setup after gapping up and it is on its way to hitting its target from its 50% long at 1.3747. The target is at 1.41731. The next major resistance is at the high at 1.40364.
On the daily, the pound rebounded after hitting the 61.8% or 1.59743 of the long. The pound is currently in an extension short at 1.60935, with a target at 1.59158. The full traditional short is at 1.61591.
On the daily, the yen spiked through the bottom of the range it has been in in the past 4 months. The importance now is whether it closes below the range. The next major resistance is the low of 80.234. The target of the 50% short at 84.093 is 78.412.
Forex Trading Analysis written by Diana Rochford for ForexPros. For more information about technical analysis visit ForexPros.
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