Business-Insider

Dollar Slumped vs Euro, Sterling

The dollar fell sharply against the euro and sterling on the disparity between the Fed and the other two central banks in monetary policy outlook.

The Fed yesterday left its interest rate unchanged at 5.25% as expected. The post-meeting statement pointed out that the inflation is still the Fed's predominant concern, reinforcing the expectations that the Fed would not cut rate within the year. While on the other side of the world, the European Central Bank and the Bank of England are widely anticipated to lift interest rates at least one more time this year. The euro rose above the 1.35 level versus the dollar, the first time in three weeks. Should the pair stand firmly above the 1.3460-80 support area, further rally may extend to 1.3660 with a near target at 1.3550.

After breaking through the key psychological level at 2 yesterday, the sterling extended its gains to as high as 2.0073 against the dollar on Friday. The currency is supported by the speculation that the Bank of England may raise rates as early as July.

by Yan Xu

Daily Support and Resistant...

**EUR/USD
R 1.3480 1.3530 1.3580 1.3630
S 1.3410 1.3350 1.3300 1.3250

**USD/JPY
R 123.60 124.30 124.80 125.50
S 122.80 122.30 121.50 120.80

**GBP/USD
R 2.0040 2.0080 2.0130 2.0180
S 1.9970 1.9910 1.9850 1.9780

**USD/CHF
R 1.2350 1.2430 1.2480 1.2530
S 1.2280 1.2230 1.2150 1.2080

**AUD/USD
R 0.8530 0.8580 0.8650 0.8720
S 0.8430 0.8350 0.8280 0.8230

From Mr. Juvent...
Happy pips everyone......

ps. i'm very sorry for not updating my blog...its been a very busy week for me...

Today Support and Resistant...

**EUR/USD
R 1.3430 1.3480 1.3530 1.3580
S 1.3350 1.3300 1.3260 1.3180

**USD/JPY
R 124.30 124.80 125.50 126.00
S 123.40 122.80 122.30 121.50

**GBP/USD
R 1.9950 2.0030 2.0080 2.0130
S 1.9880 1.9830 1.9770 1.9710

**USD/CHF
R 1.2450 1.2530 1.2580 1.2650
S 1.2380 1.2330 1.2280 1.2230

**AUD/USD
R 0.8500 0.8580 0.8630 0.8680
S 0.8450 0.8390 0.8330 0.8280

From Mr. Juvent...
Happy trading....

Daily Support and Resistant...

**EUR/USD
R 1.3430 1.3480 1.3530 1.3580
S 1.3350 1.3300 1.3260 1.3180

**USD/JPY
R 123.80 124.30 124.80 125.50
S 123.00 122.30 121.80 121.30

**GBP/USD
R 1.9970 2.0030 2.0080 2.0130
S 1.9890 1.9830 1.9780 1.9730

**USD/CHF
R 1.2430 1.2480 1.2530 1.2580
S 1.2350 1.2280 1.2230 1.2180

**AUD/USD
R 0.8450 0.8500 0.8560 0.8630
S 0.8380 0,8330 0.8280 0.8230

From Mr. Juvent...
Good pips everyone...

Daily Support and Resistant...

**EUR/USD
R 1.3430 1.3480 1.3530 1.3580
S 1.3380 1.3330 1.3280 1.3230

**USD/JPY
R 123.80 124.50 125.00 125.60
S 123.00 122.30 121.50 120.80

**GBP/USD
R 1.9850 1.9910 1.9970 2.0030
S 1.9780 1.9730 1.9680 1.9630

**USD/CHF
R 1.2450 1.2530 1.2580 1.2650
S 1.2380 1.2230 1.2280 1.2180

**AUD/USD
R 0.8450 0.8500 0.8560 0.8620
S 0.8380 0.8330 0.8280 0.8230

From Mr. J...
Happy Profit...

Today Support and Resistant....

**EUR/USD
R 1.3430 1.3480 1.3530 1.3580
S 1.3350 1.3280 1.3230 1.3180

**USD/JPY
R 123.80 124.50 125.00 125.60
S 123.00 122.30 121.50 120.80

**GBP/USD
R 1.9800 1.9850 1.9910 1.9970
S 1.9730 1.9680 1.9630 1.9550

**USD/CHF
R 1.2450 1.2530 1.2580 1.2650
S 1.2380 1.2280 1.2230 1.2180

**AUD/USD
R 0.8430 0.8480 0.8530 0.8580
S 0.8380 0.8330 0.8280 0.8230

From Mr. J...
Hapy profit...

Today Daily Support and Resistant...

**EUR/USD
R 1.3330 1.3380 1.3430 1.3480
S 1.3260 1.3180 1.3130 1.3050

**USD/JPY
R 123.50 124.10 124.60 125.30
S 122.80 122.30 121.80 120.80

**GBP/USD
R 1.9730 1.9780 1.9850 1.9910
S 1.9680 1.9630 1.9550 1.9480

**USD/CHF
R 1.2480 1.2530 1.2580 1.2650
S 1.2430 1.2380 1.2300 1.2230

**AUD/USD
0.8380 0.8430 0.8480 0.8530
S 0.8330 0.8280 0.8230 0.8180

From Mr. J...
Good Luck everyone....

Today Daily Support and Resistant...

**EUR/USD
R 1.3330 1.3380 1.3430 1.3480
S 1.3260 1.3180 1.3130 1.3050

**USD/JPY
R 123.00 123.50 124.10 124.60
S 122.30 121.80 121.30 120.80

**GBP/USD
R 1.9780 1.9850 1.9910 1.9970
S 1.9680 1.9630 1.9550 1.9480

**USD/CHF
R 1.2480 1.2530 1.2580 1.2650
S 1.2380 1.2330 1.2280 1.2230

**AUD/USD
R 0.8430 0.8480 0.8530 0.8580
S 0.8350 0.8300 0.8240 0.8180


From Mr. J....
Good luck....

Today Daily Support and Resistant...

**EUR/USD
R 1.3330 1.3380 1.3430 1.3480
S 1.3260 1.3180 1.3130 1.3050

**USD/JPY
R 122.30 122.80 123.50 124.00
S 121.30 120.80 120.30 119.90

**GBP/USD
R 1.9780 1.9850 1.9910 1.9970
S 1.9680 1.9630 1.9550 1.9480

**USD/CHF
R 1.2450 1.2530 1.2580 1.2650
S 1.2380 1.2330 1.2280 1.2230

**AUD/USD
R 0.8450 0.8530 0.8580 0.8650
S 0.8380 0.8330 0.8280 0.8230

From Mr. J....
Have a nice pips......

Today Support & Resistant....

**EUR/USD
R 1.3430 1.3480 1.3530 1.3580
S 1.3330 1.3265 1.3180 1.3130

**USD/JPY
R 122.30 122.80 123.50 124.00
S 121.30 120.80 120.30 119.90

**GBP/USD
R 1.9780 1.9850 1.9910 1.9970
S 1.9680 1.9630 1.9550 1.9480

**USD/CHF
R 1.2430 1.2480 1.2530 1.2580
S 1.2330 1.2280 1.2230 1.2150

**AUD/USD
R 0.8480 0.8530 0.8580 0.8650
S 0.8380 0.8330 0.8280 0.8230

From Mr. J (Juvent)...
Happy Profit.......

In his speech today, BoE Gov King said "The Monetary Policy Committee will be watching closely indicators of capacity pressures, pricing intentions and inflation expectations. If these indicators remain elevated, the MPC may need to take further action.''

"The recent rise in inflation to over 3 percent does look temporary." It is important that the Monetary Policy Committee look through this short-run volatility and try to understand where inflation might be heading in the medium term.''

The Bank of England forecasts gross domestic product will rise 3 percent in 2007, up from 2.8 percent last year.

"A position in which growth is above its long-run average and businesses are already operating with pressure on capacity is unlikely to be one without inflationary risks''. That is one reason why the Monetary Policy Committee has raised interest rates over the past year.''

Businesses haven't expanded their workforce enough to prevent stronger demand from putting more pressure on capacity, which is ``now at an unusually high level,'' King said. This has encouraged companies to raise prices they charge their customers, which may add to pressure on inflation, he cautioned.

Factory-gate prices climbed for a sixth month in May, growing 0.4 percent after increasing 0.5 percent in April, the Office for National Statistics said in London today.

The "upside shocks'' to inflation haven't been offset by a slowdown in consumer spending, King said. Britons have accumulated a record 1.3 trillion pounds ($2.6 trillion) of debt, spurred by banks' increasing willingness to provide financing.

"Wider and cheaper availability of credit was a `shock' that boosted spending,'' King said, identifying it as a further reason policy makers raised borrowing costs.

Analisys by NewsTraderFX
FFAN Analyst.

Consumer Price Index (YoY) (MAY) (08:30 GMT; 04:30 EST)
Retail Price Index (YoY) (MAY) (08:30 GMT; 04:30 EST)
Expected: 2.6%
Expected: 4.3%
Previous: 2.8%
Previous: 4.5%

Only UK equity markets saw noticeable price action on Monday as the sell-off in 10-year Gilts and the British pound finally took a break. However, with market-moving data on tap on Tuesday, traders could be in for a wild day. UK inflation reports are anticipated to show that price pressures continued to ease back during the month of May, with CPI estimated to hit 2.6 percent and RPI forecasted to slip to 4.3 percent.

Nevertheless, even those figures are lofty, especially as the Bank of England's official inflation target is well below at 2.0 percent. Furthermore, BOE Governor Mervyn King recently expressed an even more hawkish tone during a speech given in Wales, in which he said that the BOE "may need to take further action" on inflation as expectations have "drifted up." As a result, CPI figures confirming King?s commentary will really ramp up speculation of a July hike by the central bank.

On the other hand, if inflation reports actually hit the tape at softer-than-expected levels, the BOE will be more likely to continue watching pricing and capacity data in order to assess whether policy tightening will be necessary in August.

FX - GBP/USD
On Tuesday, GBPUSD could be in for a bounce based on both technical and fundamental factors. Looking at the daily charts, last week?s plunge was stopped short at seven month trendline support and the 50.0% fib of 1.9183-2.0131 at 1.9657. Should GBPUSD hold up against support, price could bounce up towards 1.9775 with the help of strong economic data.

While inflation reports are anticipated to ease back, CPI and PPI are also projected to remain elevated and could underpin the case for a July or August hike, depending on how strong price pressures remain, especially after BOE Governor Mervyn King said that the central bank "may need to take further action" on inflation. On the other hand, if we see that CPI falls closer to the 2.0 percent target than markets are expecting, GBPUSD could break down through support to target 1.9500.

There are other major UK releases due out this week, and on Wednesday, signs of further tightening in the labor market will feed into concerns of mounting wage pressures. Furthermore, Retail Sales are forecasted to rebound on Friday, signaling that consumption remains healthy despite higher interest rates. However, with BRC Retail Sales for the same month indicating a sharp slowdown, there are major downside risks for this particular release. Nevertheless, should speculation about the BOE's future policy action remain the dominant theme in British pound trade, GBPUSD gains may resume.


Analysis by DailyFX

Today Support and Resistant

**EUR/USD
R 1.3380 1.3430 1.3480 1.3530
S 1.3320 1.3265 1.3185 1.3130

**USD/JPY
R 121.80 122.30 122.80 123.50
S 121.30 120.80 120.30 119.90

**GBP/USD
R 1.9730 1.9780 1.9850 1.9910
S 1.9630 1.9550 1.9480 1.9430

**USD/CHF
R 1.2380 1.2450 1.2530 1.2580
S 1.2330 1.2280 1.2230 1.2150

**AUD/USD
R 0.8480 0.8530 0.8580 0.8650
S 0.8380 0.8330 0.8280 0.8230

From Mr. J (Juvent)....
Happy Profit everyone....

Forex Technical Report EUR/USD, GBP/USD, USD/CHF

EUR/USD 1.3425 - 8 June 2007

EUR/USD Open 1.3495 High 1.3465 Low 1.3372 Close 1.3429

Yesterday in the early hours the Euro was trading in the range 1.3494 - 1.3511 US Dollars. During the U.S. session it dropped to 1.3427. This morning the currency pair was exchanging at levels 1.3416 - 1.3426.
If today the Euro get through the resistance zone at 1.3433 US Dollars, next target will be reaching and testing the 1.3485 level. If successful the upwards movement will continue towards 1.3523. If the Euro breaks under the support zone 1.3410 US Dollars, it will look for the next support around 1.3566. If it gets under it successfully, the downward movement will continue towards 1.3312.
Technical resistance levels: 1.3433 1.3485 1.3523
Technical support levels: 1.3410 1.3566 1.3312
Trading range: 1.3440 - 1.3365
Trend: Downward
Sell at 1.3427 SL 1.3457 TP 1.3377

eurusd

---

GBP/USD 1.9765 - 8 June 2007

GBP/USD Open 1.9789 High 1.9914 Low 1.9939 Close 1.9778

Yesterday's early hours trading of the Pound was in the range 1.9808 - 1.9831 US Dollars. During the US session the Cable dropped to 1.9744. This morning the currency pair was exchanging at levels 1.9769 - 1.9783.
If today the Cable get through the resistance zone at 1.9793 US Dollars, next target will be reaching and testing the 1.9844 level. If successful the upwards movement will continue towards 1.9892. If the Pound breaks under the support zone 1.9758 US Dollars, it will look for the next support around 1.9715. If it gets under it successfully, the downward movement will continue towards 1.9674.
Technical resistance levels: 1.9955 2.0009 2.0052
Technical support levels: 1.9912 1.9862 1.9813
Trading range: 1.9724 - 1.9640
Trend: Downward
Sell at 1.9714 SL 1.9744 TP 1.9654

gbpusd

---

USD/CHF 1.2291 - 8 June 2007

USD/CHF Open 1.2263 High 1.2264 Low 1.2157 Close 1.2237

Yesterday's early hours trading of the US Dollar was in the range 1.2159 - 1.2176 Swiss Francs. During the US session it climbed to 1.2262. This morning the currency pair was exchanging at levels 1.2253 - 1.2290.
If today the US Dollar gets through the resistance zone at 1.2271 Swiss Frank, next target will be reaching and testing the 1.2227 level. If successful the upwards movement will continue towards 1.2314. If the currency pair breaks under the support zone 1.2237, it will look for the next support around 1.2196. If it gets under it successfully, the downward movement will continue towards 1.2152.
Technical resistance levels: 1.2271 1.2227 1.2314
Technical support levels: 1.2237 1.2196 1.2152
Trading range: 1.2285 - 1.2360
Trend: Upward
Buy at 1.2296 SL 1.2266 TP 1.2346

usdchf

Sun, 10 Jun 2007 14:56:48 GMT
by Ted Wilson @FXstreet.com

iFOREX.bg

When it comes to selecting a system out of the many Forex online trading systems that are now available there are a few things that a person should be aware of. As with anything that you do in life you should first carry out some research into the various systems available before you make your final decision on which system it is you are going to be using.

Forex trading is considered one of the most complicated types of trading and yet still has the potential for a person to make some easy money from it. Unfortunately this often results in people willing to take money from those who are a little naive and will then not deliver what they promised.

The first thing that you should be doing is to compile a list of around 3 or 4 systems that you like the look of and will fit in with your requirements. Although you are able to find such systems using search engines such as Google or Yahoo this is not the most preferable way of doing it. Normally what will happen is that the results will include review sites which will compare different systems, but the problem with looking at these types of sites is that they are not always impartial. Unfortunately for some of these sites there is a tendency for them to recommend the system where they have been paid the highest commission.

Also you should steer clear of those sites that are reviewing a number of different systems as it is really not feasible for one person alone to be able to review more than say a couple of systems at any one time.

Instead what you should be doing if you wish to compare different systems that are available is to type in such words as "Forex online trading systems forums". By doing this you will be able to bring up a number of different sites where lots of Forex traders will be discussing the various advantages and disadvantages relating to systems that they are using or have used.

However it is best that you look for those forums which are properly moderated. Many of the frequent users as well as the moderators of these sites will be able to spot spam posts immediately and so will help you to avoid choosing those systems which do not work. As well as finding a site that is well moderated also spend some time going through their archives and this will help you to see whether the Forex online trading system that you are interested in has been receiving good reviews for some time or whether it is just a one hit wonder.

Just by spending a few hours of your time carrying out research in relation to the various Forex online trading systems available will probably not only save you a lot of heartache but also a lot of money in the future.

Ricky runs a learn forex trading online site for beginners at www.learn-forextrading.net. Visit his site today for more forex tutorials and articles.

Do you know about Price Action??? One of the Powerfull Method in Trading...
I get this from James16 Group....you can subscribe with his group if you want to learn more...
I will post some example of Price Action and some screenshoot...enjoyed...

Click to Enlarge Pictures....

In the pictures above you can see "Price Action breakout". Two consecutive matching low. You look for this after trend has developed...This is Trend continuation breakout...

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In the pictures above you can see "Bearish outside vertical Bars" that signal the continuation of down trend...

---

Another example of price action.."Double Bar High with Lower Close" and "Triple Bar Low with Higher Close"

---

Example for Day Trade with Price Action....

---

Another example of Price Action on Daily Chart

---

It help me in my trading, i hope it can help you too...
Tommorow i will post some more example of Price Action....
Just Click the signature if you want to subscribe wiht James16 Price Action Group...
Happy Profit Everyone...

From

Daily Support and Resistant

**EUR/USD
R 1.3480 1.3530 1.3580 1.3630
S 1.3380 1.3330 1.3260 1.3180

**USD/JPY
R 121.80 122.30 122.80 123.50
S 120.80 120.30 119.90 119.40

**GBP/USD
R 1.9830 1.9910 1.9970 2.0030
S 1.9730 1.9650 1.9580 1.9530

**USD/CHF
R 1.2280 1.2330 1.2380 1.2450
S 1.2230 1.2180 1.2130 1.2050

**AUD/USD
R 0.8450 0.8530 0.8580 0.8650
S 0.8380 0.8330 0.8280 0.8230

From Mr. J (Juvent)....
Happy Profit everyone....

Wall St. is definately in a bit of a tizzy over the likely course of Fed interest rates. A cut's been taken off the table and like a child with many toys who loses one, they're throwing a tantrum.

As i've discussed many times, losses in equities relate to losses in carry trades. Have a look at the daily charts and you'll see the pound has plunged while USD/JPY has come way off the highs. That's a sure sign that carry trades unwound in the 200 point DOW sell-off today.

On to the trade balance-and i'm going to suggest you look at it in a different way. Don't look so much at the overall gain or loss in the deficit, look at it in terms of overall activity. In other words, watch whether imports and exports both rose.

If they did that will indicate an increasing pace of overall economic activity-a growth indicator. With Wall Street so upset now, an indication that growth is picking up will absolutely send them to the nearest ledge, because it will only indicate even less chance of a Fed rate cut to them. How likely is it that overall activeity picked up? Very likely because a lot of activity was lost due to Chinese holidays in March.

It's more then just the drop in the indexes that indicate unease-the "fear" index has risen as well. If you don't know, the fear index aka the VIX is actually something that can be traded on the CBOE. You can actually bet on how wet trader's undergarments are likely to get!

The VIX index closed at 17.06 Thursday, compared to last week when the index traded well below 14.0. In 2007, the VIX has seen a low of 9.70, seen Feb 14 (before the Feb 27 one-day China stock tumble) and a high of 21.25, seen in early March.

Analisys by NewstraderFX

Daily R & S for today...

**EUR/USD
R 1.3530 1.3580 1.3630 1.3680
S 1.3480 1.3430 1.3350 1.3280

**JPY/USD
R 121.30 121.80 122.30 122.80
S 120.50 119.90 119.40 118.80

**GBP/USD
R 1.9970 2.0030 2.0080 2.0130
S 1.9900 1.9850 1.9780 1.9710

**CHF/USD
R 1.2180 1.2230 1.2280 1.2330
S 1.2130 1.2050 1.1975 1.1925

**AUD/USD
R 0.8480 0.8530 0.8580 0.8650
S 0.8400 0.8350 0.8300 0.8230

from Mr. J (Juvent)...
Happy Profit.....

GBPJPY has done nothing but drive itself into an even tighter wedge formation as markets await the next big shift in rate differentials. Will the carry trade prevail or will traders liquidate their leveraged positions en masse? With central bank action on the docket this week, GBPJPY could maintain its lofty levels as price has steadied above support at 241.00.

The Bank of England is widely expected to leave rates steady at 5.50 percent on Thursday morning, however, the British monetary policy makers have been known to surprisingly hike in the past, citing upside inflation risks. Following the Reserve Bank of New Zealand's unexpected rate hike Wednesday evening, traders may be feeling especially edgy ahead of the UK central bank's announcement.

If the BOE defies analyst estimates, the British pound will surge, sending GBPJPY hurdling towards resistance at 243.00. However, should we see steady UK rates, GBPJPY may go little changed or soften slightly, as no statement will be released and markets will have to await the release of the meeting minutes on June 20th. Furthermore, if we see a combination of unchanged rates in the UK along with a sustained bout of Japanese yen strength, GBPJPY could break support, resulting in precipitous declines towards 239.00.

Analisys by DailyFX

Bank of England Rate Decision (11:00 GMT; 7:00 EST)
Expected: 5.50%
Previous: 5.50%

How Will The Markets React?
There have already been three interest rate decisions so far this week.
The Reserve Bank of Australia didn't surprise anybody last night when
Governor Glenn Stevens announced the policy group was keeping the nation's overnight cash rate unchanged at 6.25 percent.

A little later in the day, the European Central Bank's meeting concluded in the same lack of surprise for the markets, though the decision itself made a few more waves as the benchmark rate for the region was lifted 25 basis points to 4.00 percent.

Finally, the Reserve Bank of New Zealand took that last step by overriding the consensus among economists and hiking its own OCR to a nine-year high 8.00 percent. With all this activity perking speculation and testing historically low levels of volatility, traders now turn a more watchful eye on the Bank of England's own rate decision.

Both the market and economists are expecting policy officials to leave rates untouched at 5.50 percent. This outlook is backed by a number of data highlights that suggest the Monetary Policy Committee will hold its hand in order to gauge whether past efforts to cool growth and inflation are taking effect.

For growth, economic expansion cooled only slightly in the first quarter from a 3.0 percent pace to 2.9 percent, though this was enough to record the first deceleration in seven quarters. Perhaps more pressing though was the pull back in analysts? preferred inflation gauges. The annual consumer price index for April fell back from its decade high 3.1 percent gait in April as the retail price index stepped back from its equally hot 4.8 percent pace.

On the other hand, these levels are still well above the BoE's tolerance band.
What's more, this is the first meeting since a 9-0 vote for a hike in May which followed a letter from Governor King to Chancellor Brown to address what is being done to rein in rampant price growth. So will this meeting turn out to be more like the RBA's or RBNZ's rate decision?
Only time will tell, but speculation will happily fill the void until then.

Analisys by DailyFX

Daily R & S..

**EUR/USD
R 1.3580 1.3630 1.3680 1.3750
S 1.3480 1.3430 1.3350 1.3280

**USD/JPY
R 121.80 122.30 122.80 123.50
S 121.00 120.40 119.90 119.40

**GBP/USD
R 1.9970 2.0030 2.0080 2.0130
S 1.9880 1.9830 1.9780 1.9710

**USD/CHF
R 1.2230 1.2280 1.2330 1.2380
S 1.2130 1.2050 1.1975 1.1925

**AUD/USD
R 0.8450 0.8530 0.8580 0.8650
S 0.8350 0.8300 0.8230 0.8150

thank to Mr. J (Juvent)...for this daily R & S
Happy Profit everyone....

One of my friend "LadyFabia" teach me about this simple strategy for daytrade...

For GBP/USD only...
Set Buy stop +55 from the open bar 7:00 (GMT+7)
Set Sell stop -45 from the open bar 7:00 (GMT+7)

always set your SL @35 pips and TP @200 pips...and don't forget to use OCO (one cancel other) and remember cancel all your order @ 23:00 (GMT+7) if your buy/sell order not hit...close your open position too @23:00(GMT+7)...

You can backtest it first so you can see it yourself,
"even with this simple method you can make profit"...

If you don't want to confuse in your trading just try this simple method...no need for indicator, fundamental or technical...and always remember 'Friend with the trend'...
Happy Profit.....

Remember this is Daily Support & Resistant.....

**EUR/USD
R 1.3530 1.3580 1.3630 1.3680
S 1.3460 1.3400 1.3350 1.3280

**GBP/USD
R 1.9970 2.0030 2.0080 2.0130
S 1.9880 1.9830 1.9780 1.9710

**USD/JPY
R 112.30 112.80 123.50 124.00
S 121.50 120.90 120.40 119.90

**USD/CHF
R 1.2260 1.2330 1.2380 1.2450
S 1.2180 1.2130 1.2050 1.1975

**AUD/USD
R 0.8400 0.8450 0.8530 0.8580
S 0.8300 0.8230 0.8160 0.8080

thanx to Mr. J (Juvent) for this Daily R & S...
and remember 'Friend with the Trend'...Happy Profit..

ps. i'm trading Forex @ Real Trade...
if you want to know more about Real Trade just click it...

Today my friend will help me to post Daily Support & Resistant...
His name is Juvent...I learn a lot from him...
i hope it can assist in your trading....
he will post it between 11.00 AM - 12.00 PM (GMT +7)...

There's Medium News today from US
9:00pm(GMT +7)ISM Non-Manufacturing Index
(forecast 55.3) (previous 56.0)

Happy Profit everyone...
**remember Friend with the trend...

Today i will post indicator for Meta Trader...i use this indi to help me see where the trend is. I'm always trade with the trend not againts it. This indi draws trend line automatically, i believe not everyone can draw trend line. There's something you must consider when you draw trend line and a lot of way to draw trend line.

So i use this indi to keep it simple. For me this indi is help me a lot in my trading, i hope it can help you to.

I use it on Daily and weekly chart, coz i think you already know that to see the true trend is in daily or weekly chart.

But sometimes i use it in Hourly (H1) or H4 to see if there any minor trend on small timeframe, but i'm not recommend this for you.

You can download it here....
SHI Channel

ps. after you download this indicator put it in your "expert/indicator" folder. Then restart your MetaTrader. You will see it in "NAVIGATOR tab" and choose "custom indicator"...Happy PROFIT everyone...
**ups..i forgot to tell you..i use standard setting...

This Journal is about Forex Trading. Hopefully i can Update it everyday and help all the Newbie in FOREX. I'm still newbie myself...i just start trading from 6 months ago. I make this blog so we all can trade information and help each other...that's it for now.

Tommorow i'll be posting "my way of Trading" that help me make PROFIT in Forex and i hope it can make profit for you too. But one thing i want to tell you,
"Even a very good trading system doesn't always make you in profit, there's lot of other things that we must know in trading and i believe that on the top of that list is Our Mental and Discipline."