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Bitcoin’s Fight With $350 Continues

Bitcoin is continuing the fight with the $345-$350 support area. Earlier in the day it looked like the bears had won, after breaking past $345 prices quickly fell to a daily low of $337. But in the next 2 hours BTC/USD climbed back above $340 and few hours later prices were again flirting with the […]

Top Trade Ideas

Top Trade Idea For October 24th, 2014 – Sell the Tasman Twins

AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates.  Under this scenario, Mr Market may expect the Kiwi dollar to […]

MT4 Trading & Education

How To Trade The Parabolic SAR in MT4

Hi, this is Shaun Overton with ForexNews.com and OneStepRemoved.com. In this 3 minute video, I’m going to introduce you to the Parabolic SAR indicator for MetaTrader 4. If you don’t already have a demo account, you can follow along for free with an OANDA account by clicking the link below this video.  Register For A […]

Featured Chart

Top Trade Idea For October 24th, 2014 – Sell the Tasman Twins

cmc

AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates.  Under this scenario, Mr Market may expect the Kiwi dollar to fall.

Instead, the NZD is strengthening, pushing AUD/NZD lower:

Untitled

Some traders interpret this sort of “against the news” move as a sign of an underlying current or impulse. The chart looks like a reversal to me. Candles turning red from blue, two “hanging man” style dojis, and a (short) series of lower highs and lower lows.

I’m a seller on a breach of the low of the previous 4 hour candle, at 1.1157. My stop goes above the high of the hanging man, at 1.1227. While it is nice to think the bottom of the range at 1.0917 is the target, the repeated bounces of 1.0980 mean my target will be closer to 1.1000.

Bitcoin

bitcoin brokers

Bitcoin’s Fight With $350 Continues

Bitcoin is continuing the fight with the $345-$350 support area. Earlier in the day it looked like the bears had won, after breaking past $345 prices quickly fell to a daily low of $337. But in the next 2 hours BTC/USD climbed back above $340 and few hours later prices were again flirting with the […]

Global Market Commentary

Top Trade Idea For October 24th, 2014 – Sell the Tasman Twins

AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates.  Under this scenario, Mr Market may expect the Kiwi dollar to […]

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