analyst75

Privacy Refresh: Simple steps to take back your privacy from Facebook

 

Take control of your privacy on Facebook with these practical daily tasks

 

The first week of our Privacy Refresh is all about Facebook. When it comes to collecting information about people, there’s really no social media company that does it quite like they do. While they didn’t invent the “free” social media in exchange for a data model that we’ve all come to know and (not) love in the past couple decades, they’ve certainly perfected it. Facebook collects extensive data both on platform and off — and even has data on you if you don’t have an account.

 

While the social media company says that it “doesn’t sell” your data to advertisers, that’s not quite true. While they don’t sell personal identifying information like your name and the contents of your posts, they do sell the aggregate data they gather on you. That information is arguably more revealing than your name alone, as it includes everything from your likes and dislikes to your moods to the things you buy to who you talk to… And the list goes on.

 

Basically, your Facebook profile is the best way to sell you things that advertisers have ever seen.

 

If Facebook having so much information about you makes you feel gross, here are six super simple steps you can take this week in order to get back some of your privacy. Each one shouldn’t take more than five minutes and most take even less than that. Get ready: It’s time to start your Privacy Refresh.

 

Monday: Put each step into your calendar

That’s it! That’s all you have to do today. Pick a convenient time that will work every day and put that week’s task into the calendar. (We recommend the same time every day, if possible, because it’s easier to remember.) Make sure to set up some kind of notification, like a pop-up on your phone. This simple action will make it much more likely that you’ll actually do each of the steps this week, so don’t skip it!

 

Another suggestion: Put the full text of each tip into the actual calendar event. That way you don’t have to go searching for this article every day — you can just click on the notification when it pops up and have everything you need, right there.

 

Tuesday: Revoke app and game permissions

If you’re like most people, you’ve probably signed into other apps and websites with your Facebook login details. While this is super convenient, it also gives those sites access to your data and gives Facebook more information about you. Similarly, any games you used to play still have access to your data if you haven’t revoked it.

 

In order to see which apps are still connected to your account, click on the arrow in the top right hand corner of your screen. That will bring up a drop-down menu. Click Settings and then Apps and Websites. Once you’re in there, you can revoke permissions by clicking “Remove” or you can choose what data the apps and games you still use have access to.

 

Wednesday: Delete the categories used to target you

Facebook collects your data so that they can sell it to advertisers. But did you know that you can actually decide what data they collect? This is our longest step of the week — and we’re splitting ads into two days because of it — but stick with us, because it’s worth it.

 

In that same Settings area, click on “Ads.” Another screen will pop up, with information about advertisers you’ve seen, ad topics you can restrict, and then Ad Settings. That last one is where the magic happens.

 

Under “Categories used to reach you,” you can decide which bits of data advertisers use to target you. Toggle off employer, job title, education, and relationship status and then go down to “interest categories.” You can choose to remove any or all of these, which will make it more difficult for companies to target you.

 

However, there’s no “remove all” button (which means it might take a little while) and it’s worth noting that Facebook explicitly says “We may still show you ads related to these categories if we think these ads may be relevant to you.” Cool, cool. Not shady at all, right?

 

Thursday: Finish locking down ad tracking

Today, we’re going to tackle the last two ads sections. While yesterday was a hassle, luckily “Audience-based advertising” — which is the next section in ads and which determines which advertisers can target you based on their own lists — does let you opt out of all the options in one click.

 

But, of course, it’s a little bit difficult to find. Click “Data Management” at the top of list and then click “They uploaded or used a list to reach you.” Then click “Don’t Allow” for both sections. A popup will likely appear asking if you want to do this. Keep strong and click again to make sure you can’t be targeted this way.

 

Finally, go to “Ads Shown off of Facebook” and toggle to “Not Allowed.” This makes it so that advertisers can’t buy ads that target you using Facebook data that are then shown off of Facebook. Confusing, I know, but it’s part of their model.

 

Phew! You’ve now taken back a major part of your privacy from Facebook. And while there’s no way to delete previously collected information — nor can you stop ads altogether — you can rest assured that significantly less info will be collected on you moving forward.

 

Friday: Turn off Face Recognition

Facebook uses facial recognition technology to recommend friends tag each other. While they don’t seem to be using it for nefarious purposes yet, there’s no telling what could be done with that data set in the future. So, today, go into settings and click Face Recognition in the left toolbar. Click “Edit” and the the drop down menu for “no.”

 

Saturday: Turn off Location History

Location History is one of those settings that actually way creepier than Facebook tries to make it out to be. It allows Facebook to track and catalogue your “precise locations” in order to “help explore what’s around you” by using the Location Services on your cellphone.

 

If you’ve already turned off Location Services on your phone, you can skip this step. But if you haven’t, go in to Location in the Settings toolbar; then Edit; then toggle down to “Off” in the drop down menu. In order to delete any previously collected data, go into Location History in the Settings on your phone and delete it there.

 

Sunday: Learn too much about your elementary school BFF’s life

Finally, on Sunday, use Facebook for what it’s best for: Learning way too much about the lives of people you don’t talk to anymore! Or, you know, whatever your favorite Facebook activity is. Indulge. You earned it.

 

 

Source: https://blog.avast.com/facebook-privacy-refresh-avast?utm_content=445270&utm_term=173432284_5849_354&utm_medium=email&utm_source=sfmc&utm_campaign=c_oo_fr_a_a_20q4_jj_news11gdpr   

 

Profits from games of knowledge: https://www.predictmag.com/ 

If this is true, then it's awesome!

You know the purposes of savings accounts.

 

If you put your money in savings accounts, the bank lends it out at around 15 – 20% per annum and then give you 1.7% per annum on it.

 

If you withdraw more than 2 times per month, you forfeit your monthly interest rates on the account. Actually what you were supposed to get on monthly basis is divided into 12 and paid in 12 installments.

 

When you received around 3.7% per annum on savings accounts, the stats were better. But now that they claim that business environment is harsh, things are worse.

 

That brings the question: Does it make sense to still keep savings accounts?

 

Yes it still makes sense. Most people now operate savings accounts as if they operate current accounts. Because of the advances in banking technology, there are now many ways to move money and transact business, using savings accounts. You can even get a POS for it.

 

Banks also need income to maintain the costs of all the facilities you enjoy with a savings accounts. They need to stay in business.

 

Despite all what people might complain about savings accounts, one thing is ever sensible: Saving money in a bank is far better and safer than saving it at home or in a hole or a hidden place.

 

 

The question is: Does this work as purported?

Meet our new NETELLER VIPs

Every calendar year, we choose 2 customers to become our VIPs. They’ve permanently special status with us and they can fund/withdraw Neteller through us, at parallel market rates, whether they open brokerage accounts through us or not.

 

These are people who funded with the highest amount of Neteller, and who also withdrew the highest amount of Neteller through us.  They would be announced in January each year and added to our list of VIPs.

 

Here are our latest VIPs:

 

Amechi V. Nwanjoku: She is the second woman to become our VIP, following Ufuoma Richard. She buys and sells Neteller, Skrill, Perfect Money, and Bitcoin, and she has been doing so for years. She deserves to be our VIP.

 

Mosindi Phillip O.: Mosindi deals in Neteller and Skrill and he does so consistently. He is the kind of person that goes for small, but consistent profits. He has been with us for years. Thank you for your patronage Sir.

 

Adewuyi Abdullah Tunde: Adewuyi is a great online trade and he’s also very religious for that matter. He knows how to make money as he speculates online. He buys and sells mostly Neteller and he does so with utmost seriousness. Yes, we made a good choice to choose him as our VIP.

 

We now have 23 VIPs in the house.

 

NETELLER at Parallel Market Rates

We offer Neteller at parallel market rates for those who open Instaforex.com accounts with us.  That means you can fund or withdraw Neteller as often as you wish at parallel market rates, as long as you place at least, one trade per month. Buy at: N475/$. Sell at: 430/$.

 

To open an Instaforex account with us (a minimum of 20 USD), please register on www.instantforex.com.ng and follow this link to open an account: https://www.instantforex.com.ng/realaccount.php   

 

Or you can use this link: https://www.instaforex.com/en/index.php?x=LYZG 

 

That is good.

 

We will see what will come out of that.

In the old Access Bank mobile app, you could edit or delete beneficiaries you no longer need.

 

However, you cannot do this with their new Access Bank mobile app. I went to their office, in case there would be some tech geeks among their staff who could do this. Sadly, they can’t do this.

 

Their common argument is that such functionality is not yet included in the new mobile app. But why is such? There are many functionalities in that mobile app, and there is no simple feature like deleting unwanted beneficiaries (beneficiaries that are not needed again).

 

I just don’t want to scroll through long list of unwanted beneficiaries or send to wrong accounts.

 

Why is Access Bank doing this? Please enable the mobile app to include deleting unwanted beneficiaries.

 

 

Profits from games of knowledge: https://www.predictmag.com/ 

 

This post is helpful. So concise:

I thought that was a fund managed by Sam Seiden.

THE TECHNICAL ANALYST HAS BECOME AN ENDANGERED SPECIES

According to Investopedia.com, technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analysing statistical trends gathered from trading activity, such as price movement and volume. Unlike fundamental analysts, who attempt to evaluate a security’s intrinsic value, technical analysts focus on patterns of price movements, trading signals and various other analytical charting tools to evaluate a security’s strength or weakness.

 

Given the definition above, you can see the important of technical analysis as far as trading is concerned. However, many people do not understand what it is, not to mention how to apply it in their trading. Most readers and visitors to shares, cryptocurrencies, forex, commodities, etc, news websites, do not understand technical analysis, and so they prefer to ignore it and read the articles they understand instead (such as those about fundamental market news and briefs).

 

Even in the nascent cryptocurrency industry, demand for the technical analyst is drying up, especially amid crypto winters, as well as protracted bear markets.

 

No wonder the technical analyst has become an endangered species, because most members of the public do not understand our work and therefore are not interested in our analyses. This is one of the reasons why the technical analyst’s career is threatened.

 

When the general public know more about technical indicators, they will be inclined to read technical analysis of the markets, whenever they come across such online. They will appreciate what the technical analyst does and the effort behind those technical productions. They will be able to understand what the technical analyst has in mind and how their thoughts can be applied to financial instruments.

 

More importantly, people will be able to apply technical analysis to their own speculation and investment, with satisfactory results. The truth is, when applied correctly and objectively, technical analysis works.

 

This book is also for those who want to consider a career as a technical analyst. It is very easy to use and understand; very easy to familiarize oneself with. It contains step-by-step explanations and it will launch you into the fascinating world of technical analysis.

 

The content of this book were originally published in TRADERS’ (https://www.traders-media.de/), and have been reproduced by their kind permission.

 

Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html 

Teach Yourself Technical Analysis, Kobo: https://www.kobo.com/gb/en/ebook/teach-yourself-technical-analysis

 

 

 All commercial banks in Nigeria offer purchases of airtime through their apps, online banking platforms and USSD codes. They offer services for Airtel, Glo, MTN and 9Mobile.

 

I’m not here to promote or discredit any banks but to tell you the reality.

 

I used GTBank and still use Access Bank mobile apps to purchase airtime. This is fast and convenient.  However, there is no perfect bank or perfect technology. There is bound to be a temporary issue with those telecoms companies as well as any bank (no matter the advances in technology). They may have network issues at any time (which are often temporary).

 

But what makes the difference is how a bank’s customer support addresses any issues. GTBank is fast becoming an asshole bank! Their online customer support is now zero rating!

 

There was a time I sent airtime to a wrong number through Access Bank mobile app. If the number was live, I would accept the money was gone. Thankfully the number was not live and Access Bank told me they would reverse the money within 48 hours, when I contacted them online. And they did. GTBank will never do that!

 

On Friday, August 15, 2020. I tried to buy N1500 Airtime credit on Access Bank mobile app, but the transaction was reversed. I tried it the second time; the transaction was reversed again. Yes my money was reversed.

 

Clearly something was wrong with Airtel at the time.

 

I then turned to GTBank mobile app, and tried to purchase Airtime. I was debited and nothing happened. I got no airtime: no reports and no alerts. I tried it the second time, and I was debited again. No airtime was given, and there were no alerts and reports. Till date, no money was reversed and nothing was rectified.

 

Yes, the money was small (N3000 in total), but it could have been N20000 in total because you could buy as high as that. It could be anybody. Even if it is N100, did I beg it from them? Can GTBank give you N100 free? Nope!

 

I sent several email messages. No response. Their online chat has already disappeared for long. Their social media support is as good as dead. A good bank should be able to differentiate between a real customer and an impostor.

 

GTBank has done lots of damages in my life, and I cannot list all of them here now. The issue of small credits are just a tip of iceberg. I stopped recommending that bank 5 year ago.

 

Nowadays, going to GTBank is like going to war. Why would they close most of their branches and hold many customers to ransom, thus subjecting them to hardships?

 

Other banks provide chairs and tents for their customers, to sit before it is their turn to go inside. GTBank let their customers stand in the sun or the rain for as long as they want.

 

They treat their customers like shit, and the money they make is from these people that they treat like garbage. They use their monies for business and they treat them like numbers, rather than individuals. They treat customers like beggars rather than human beings. And they are looking for more victims to come and open accounts with them.

 

How you do one thing is how you do everything. GTBank is fast becoming an asshole bank.

 

 

Profits from games of knowledge: https://www.predictmag.com/ 

Founded in 2018, 4xCube is a Forex and CFD brokerage that provides a platform where investors and traders alike could get access to ridiculously low spreads, instant trade execution, and top-notch customer service. 4xCube consists of a management team with more than 20 years of experience in the global financial markets, making it a brokerage that perfectly understands the needs of its customers. This brokerage is a true STP/ECN trading platform that doesn't require a dealing desk and allows for any kind of trading strategy.

 

In this article, we will be looking at 4xCube and some of the concepts involved in it. We would also discuss/explore a remarkably unique program offered by this brokerage that could be revolutionary for traders.

 

 

An Overview of 4xCube
 

This brokerage could be considered as a perfect tool for traders (especially beginners) thanks to its simplified and education-oriented platform. Trading the financial markets can be complicated and overwhelming sometimes considering the several digits, information, and charts that have to be analyzed in it. 4xCube makes trading easier and worthwhile. 

 

4xCube also supports low entry capital for its customers. Traders can open live accounts with as little as $5. This makes backtesting and learning in real-world market conditions more realistic.

The true STP/ECN attribute of this brokerage eliminates the possibility of any conflict of interest. It also means that all trade orders are carried out by a pool of 21 service providers between ECN and banks, giving its customers a fast and drama-free trading experience.

Additionally, 4xCube facilitates true instant transactions as deposits and withdrawals are processed in split seconds. This helps traders take advantage of extremely volatile market conditions.

4xCube is globally recognized as one of the most innovative and fast-growing brokerages and has received several awards for its distinction including International Finance Awards 2019, Global Forex Awards, and AtoZ Awards 2019.

 

Properties of 4xCube

 

Explained below are some of the concepts and properties involved with 4xCube:

 

Regulation

 

4xCube is registered in the Cook Islands and is regulated by the Financial Supervisory Commission (FSC). Being registered and regulated offshore gives this trading company more flexibility in implementing trading rules and features. Trading companies regulated under European laws makes it difficult for small-scale traders to gain entry into the financial markets as they have a capped leveraging of 1:30. 4xCube, on the other hand, allows for leveraging as high as 1:400, making it more beneficial for small-scale traders.

4xCube also has adequate security features regardless of its offshore status. This trading company has separate accounts for storing customers’ funds to ensure that these funds are not tampered with in any way. 4xCube uses the Secure Socket Layer (SSL) cryptographic encryption on its website to provide a secure digital environment for traders and to safeguard against hackers. In 2019, 4xCube emerged as an affiliate of the FSC which bolstered the array of services and benefits it could provide for its customers.

 

4xCube is accessible across every continent on the planet. However, it is restricted in countries like North Korea, the United States, and Iraq.

 

 

Education

As mentioned earlier, trading the financial markets is no easy feat. Choosing a brokerage that supports you in your trading journey is quite important (especially for beginner traders). 4xCube helps you stay on top of the market by providing you with daily charts, overviews, interactive webinars, and other necessary analysis. This brokerage keeps you updated with global economic and financial news that could help you make better trading decisions and grow in experience as a trader.

 

 

Auto Trading

4xCube also comes with an auto trading feature that helps you automate your trading. Auto trading helps busy, beginner, or any interested trader execute trades automatically once preset market conditions are met. It also allows traders to copy or find guidance on trades from more experienced traders. The auto-trading feature helps traders carry out trades free of emotions, allowing them to take advantage of more trading opportunities.

 

 

Deposit and Withdrawal Options
 

With 4xCube, deposits and withdrawals are done with the utmost ease. Users of this platform can make cash deposits in various currencies including US dollar, Euro, Nigerian Naira, the British Pound, South African Rand, and many more. You can also make deposits using cryptocurrencies like Bitcoin. Available channels for making deposits and withdrawals include bank transfer, debit/credit card, Skrill, Neteller, Perfect Money, and many more.

The 4xCube Installment Program

 

As a show of their innovative solutions and a dedication to customer support, 4xCube has come up with a unique program to help beginner traders launch their trading careers. This program gives new traders the option of trading with as much as $1,000 (in credit), and pay back the loan in as much as 10 installments. This program is extremely beneficial and can help many beginner traders kickstart their trading journeys on a supportive platform, instead of wandering in oblivion.

 

The scheme is incredibly flexible and can be started simply by following these easy steps:

 

1- Register on the platform and submit all the necessary identification requirements.

 

2- Choose the amount of credit you desire.

 

3- Select your desired number of installments. 

 

4- Download the installment program terms and conditions.

 

5- Sign and upload the highlighted page(s) on the prompted screen.

 

6- Begin trading. 

 

 

Final Note

 

4xCube provides a wide array of trading services and products waiting for you to take advantage of. However, trading is not an easy task. Do well spend quality time in acquiring the necessary trading skills before embarking on your trading journey to give you a better chance of succeeding in this industry.

 

Source: https://4xcube.com/installments

 

 

The world has been thrown into a state of pandemonium following the Covid-19 outbreak. Global stock exchanges are consistently recording dips after dips with little hope of seeing any stability soon. Analysts predict that the effects of this pandemic on the global economy will be like nothing seen before. The pandemic has caused unimaginable losses for investors and businesses alike.

 

In March 2020, the Dow Jones Industrial Average (^DJI) recorded its worst decline in history. Not even during the Great Depression were things this bad for the Dow. It is safe to say that no one, not even well-seasoned analysts and investors, anticipated the level of crisis we're witnessing today.

 

The Covid-19 outbreak, if not anything, has shown us just how volatile the financial markets can be and how quickly our investments can go ‘sour.’ Many investors are scrambling to find alternative investment vehicles that can diminish risk while remaining profitable in these uncertain times. With the crisis going on in the financial markets, it may seem impossible to look/wish for such investment solutions. However, there is one company that delivers just this; 8topuz.

 

8topuz is an award-winning FinTech company, that provides an Artificial Intelligence-based risk-regulated trading software (bot). This software takes advantage of the FX market and works with just a select few currency pairs.

 

8topuz—pronounced as “octopuz“— provides investors with access to a kind of system that could only be possible if an army of high-quality risk managers assembled for the said purpose.

 

 

Here's How It Works

 

The technology behind 8topuz allows investors to benefit from an AI-automated risk-managed system, built to consistently produce an audited ROI of 3-4% monthly as efficiently as possible. This means that traders without experience could benefit from this AI system which is based on machine-learned risk management algorithms.

 

The risk management attribute is very adaptable to fluctuations and has the added option of human intervention for luxury. This means that the automated trading system can be overridden in anomalous situations.

 

 

What are the Returns Like?

 

The unique approach practiced by 8topuz has put them ahead of the stock markets and other financial markets, in terms of returns, for the past few years. While stocks usually return—on average—8-12% yearly, 8topuz yields returns of 24-48% annually.

 

To make it even better, their software has managed to stay consistent with monthly gains since the beginning of the year, irrespective of the volatility and crisis surrounding the financial sector today. Illustrated below is a table juxtaposing the performance of 8topuz with the S&P 500 and the DJIA from January to March 2020:

 

	January 2020	February 2020	March 2020	Total
8topuz	3.62%	1.35%	4.97%	9.94%
S&P 500	-0.04%	-7.92%	-13%	-20.96%
DJIA	-0.9%	-10.07%	-13.74%	-24.80%

 

8topuz offers stability in a market currently gutted with ridiculous volatility. Apart from recording consistent high returns, this automated trading system provider stands as a more stable investment option. Since December 2016, for example, 8topuz has recorded only one losing month compared to the S&P 500 which has had a total of 11 losing months since the same period. 8topuz’s ability to assess and adapt to market conditions that may be unprecedented or unusual is one of its key functionalities in delivering consistent profits for its investors. 8topuz is, without a doubt, one of a kind in these markets.

 

Source: https://8topuz.com/

 

 

This is another scam business on a WhatsApp group.

 

Their WhatsApp number is: +234 706 194 7833

 

They will look for your number and add you to their WhatsApp group without your permission. They will then ask you to leave the group if you don’t like what they’re doing.

 

The moderators are maniacal criminals who would quickly remove you from the group if you ever question what they do, and also private message you to abuse you (PM, DM, PC).

 

Unlimited 100% Fixedgame promises to give you numbers that win sports bets 100% of the time. They say you cannot lose because they have access to secrets of fixed matches.

 

But you need to send money to get the numbers to do sports betting games. Send money to them at your peril… They remove you quickly from their group afterwards.

 

Mission accomplished.

 

If they know numbers that could win 100% of the time, why can’t they and their family only play the game and become rich? Why must they spend a lot of time and energy persuading people to be rich?

 

These scoundrels use many means to dupe people, but it boils down to, “SEND MONEY TO RECEIVE MONEY.”

 

They have many cousins, like Assured Wealth Management, Lavita Ricca Investment, and others. 

 

This is more info about them: https://www.nairaland.com/5169885/assured-wealth-management-latest-scam 

 

https://www.nairaland.com/5028627/how-got-scammed-10k-lavita 

The 419 plan is that you send money to get 100% profits of what you send in less than 50 minutes.

 

They ask you to send more money once you send first amount.

 

They don’t have any website. Even if they do, they can pull it down.

 

They have no physical office.

 

They claim you cannot comment cause of spamming, but they often remove members (who can’t comment). Needless to say, those members have been scammed or realized they’re criminals and instead, they think his presence in the group is no longer needed.

 

They appear religious.

 

They use multiple phone numbers belonging to part of their groups to give fake testimony, to deceive people. Alerts shown are money from fools who send money to them. They’re not from investors who get paid.

 

You join them or they add you.

 

People should start massive campaigns against these idiots who come in different investment names.

 

The public should be warned.

 

 

TO REITERATE

 

This is a scam. They have duped many people.... Promising to double their money everyday.

 

If this was possible, every Nigerian would be rich.

 

They are smart liars and a group of fraudsters, who will do everything possible to convince you they're genuine and God-fearing.

 

Once they collect your money, they remove you from their group. You can't even comment so that others won't know they're criminals.

 

Those who share fake testimonies are part of a large group of the scammers... And they're the ones that can post.. In order to deceive people that this is real.

 

The alerts they show you are actually alerts of funds sent by their victims (mumus/magas, who want to become rich by having their monies doubled).

 

They're now targeting WhatsApp, Telegram, Facebook and Instagram, looking for victims to join them. The go as far as hacking social media accounts so that they can deceive and lure your friends and family by posting the scam business, as if you had tried and trusted them (thus ruining your reputation). Now ask yourself, would a legitimate business hack people’s accounts so that they can get more clients?

 

Would they add you to their groups without your consent?

 

 They have no websites and no offices...  Sometimes, their written English is terrible. Even if they do, they can always pull the websites and move offices and remove their SIMs.

 

You can only PM the admin that will eventually block you once they succeed in stealing your money.

 

And they are desperately looking for more victims.

 

Please run for your life.

 

I got an email over the weekend asking about the correlation if any between gold and the AUD and to be honest I didn’t know if there was any relationship between the two other than the long bow stories generated by economists. So I decided to have look. Whenever you start to look at the relationship between instruments you need to first define what you are looking at. The email I got implied that they looked the same at present therefore this implied some form of relationship.

 

At a glance both instruments at present seemed to be forming some form of broad congestion but this raises the question as to whether this a relevant observation since it would be possible to find hundreds of instruments that currently displaying the same pattern. However, a simple analogy will suffice to put this into context. If you have two cars driving side by side down a road this does not imply that they have either come from the same place or more importantly mean that they are heading towards the same destination. Correlation between instruments is more nuanced than simply observing that they look the same.

 

Correlation can be broken down into two parts, price correlation and returns correlation. Price correlation looks at whether prices move together with any degree of regularity and traders often stop their analysis here because they assume that if they move together then the impact of either an account or trading system will be the same. The issue with this is that it is not representative of the full picture. There is a second arm to correlations and this is the idea that returns between instruments can be correlated. It is important to note that it is possible for an instruments to have very high price correlations – in simple terms they look similar but have very different returns correlations. It is returns that matter to an account not whether something looks the same as something else.

 

When breaking down correlations I like to ask a simple question – what does the value of $1 look like if invested into each instrument since this takes into account their differing historical returns and unpacks any link between these returns.

 

As you can see from the chart the trajectory of $1 invested into either instrument shows at times a wildly diverging path which was exacerbated during gold’s Bull Run from 2008 and this raises the question for traders as to which possible returns would you like to expose your portfolio to. The issue here is not so much whether instruments look the same and have the same set up but rather what potential impact will trading them have upon your account. It is also quite easy to understand the differing nature of these returns by reference to the environment within which instruments exists.

 

Metals such as gold are free from Government interference – they can find their own level. Currencies are not free from such intervention, the fate of the AUD is intimately linked to Government policy and this ultimately puts boundaries around where the currency can go to. For example it is impossible for a currency pair to start its run at $0.75 and for it to be $7.50 three months later – this sort of move is the preserve of equities.

 

So outside of currently looking the same my answer to the question as to whether these two instruments share any meaningful connection for traders I would have to say no. There will also be someone who talks about the narrative behind the relationship between commodities and a given currency but my response to that is that this is an irrelevancy. Traders are not interested in stories or whether things look the same, they are or should be interested in returns.

 

You can view the charts attached to the articles here: https://www.tradinggame.com.au/correlation-between-gold-and-the-aud/

 

Author: Chris Tate

 

Article reproduced with kind permission of TradingGame.com.au

 

This piece is ended with the 3 quotes below:

 

“The main message I want traders to understand is how important the disciplined execution of a well thought out trading plan is in today's markets.” – Andy Jordan

 

“When you are overconfident, you are ripe for a major setback in the market.” – Joe Ross

 

“Every system begins in drawdown”. – Chris Tate

 

www.tallinex.com wants you to make money from the markets

 

 

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The bias is neutral in the short-term and bearish in the long-term. Last week, price swung upwards and downwards without having a directional movement. That is going to change this week, as a prolonged directional movement is expected, which would most probably favor bulls, as price is approaching major support lines at 1.1250 and 1.1200 (areas where further bearish effort will be rejected).  

 

USDCHF

Dominant bias: Bullish

Although inversely, when compared to the EUR/USD, this pair is neutral in the short-term and bullish in the long-term. The market also moved upwards and downwards last week, without any clear direction. This week, a clear directional movement is anticipated and that would most probably favor bears. This does not mean there cannot be rally attempts, but it would meet a strong hindrance at the resistance levels of 1.0050, 1.0100 and 1.0150.

 

GBPUSD

Dominant bias: Bearish  

This is a bear market – both in the long and the short term. Bullish efforts have proven abortive as the market retains its bearishness. On Friday, price closed at 1.2744, and it may go further downwards towards the accumulation territory at 1.2700, and below that.  However, the further southwards the price goes, the higher the probability of a bullish breakout when it does happen, and that will be strong when it happens.  

 

USDJPY

Dominant bias: Bullish

USDJPY is slightly bullish – with a kind of precarious Bullish Confirmation Pattern in the market. Further rally from here will result in a stronger Bullish Confirmation Pattern; while a southwards movement from here will result in nullification of the Bullish Confirmation Pattern, which may harbinger a “sell” signal in the market. Either of the aforementioned scenario will materialize this week, for a rise in momentum is expected.  

 

EURJPY

Dominant bias: Neutral

This is a neutral market, which has been consolidating for the past 3 weeks. The consolidation phase is bounded by the supply zone at 130.00 and the demand zone at 126.00. As long as price is within that supply zone and that demand zone, the consolidation phase will exist. On the other hand, there should be an end to the consolidation phase before the end of the week. It is after that that winners will be determined; either the bull or the bear.

 

GBPJPY

Dominant bias: Neutral  

This is a flat market, which has been particularly flat since the middle of November 2018. There is supposed to be an end to the flatness this week, because a rise in the momentum of the market is expected. The most probable direction would be skywards when a breakout does occur, because there is a high probability that GBP will gain enormous stamina. The supply zones at 146.00, 146.50 and 147.00 might be reached soon.

 

This forecast is concluded with the quote below:

 

“Trading is like playing chess; you can learn a lot about it by reading books but if you really want to get good in it, you actually have to do it on your own. Practice is necessary to becoming successful in many professions; and trading is one of them!” – Andy Jordan

 

Source: www.tallinex.com

 

 

 

 

 

 

 

 

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The bias is neutral in the short-term and bearish in the long-term. Last week, price swung upwards and downwards without having a directional movement. That is going to change this week, as a prolonged directional movement is expected, which would most probably favor bulls, as price is approaching major support lines at 1.1250 and 1.1200 (areas where further bearish effort will be rejected).  

 

USDCHF

Dominant bias: Bullish

Although inversely, when compared to the EUR/USD, this pair is neutral in the short-term and bullish in the long-term. The market also moved upwards and downwards last week, without any clear direction. This week, a clear directional movement is anticipated and that would most probably favor bears. This does not mean there cannot be rally attempts, but it would meet a strong hindrance at the resistance levels of 1.0050, 1.0100 and 1.0150.

 

GBPUSD

Dominant bias: Bearish  

This is a bear market – both in the long and the short term. Bullish efforts have proven abortive as the market retains its bearishness. On Friday, price closed at 1.2744, and it may go further downwards towards the accumulation territory at 1.2700, and below that.  However, the further southwards the price goes, the higher the probability of a bullish breakout when it does happen, and that will be strong when it happens.  

 

USDJPY

Dominant bias: Bullish

USDJPY is slightly bullish – with a kind of precarious Bullish Confirmation Pattern in the market. Further rally from here will result in a stronger Bullish Confirmation Pattern; while a southwards movement from here will result in nullification of the Bullish Confirmation Pattern, which may harbinger a “sell” signal in the market. Either of the aforementioned scenario will materialize this week, for a rise in momentum is expected.  

 

EURJPY

Dominant bias: Neutral

This is a neutral market, which has been consolidating for the past 3 weeks. The consolidation phase is bounded by the supply zone at 130.00 and the demand zone at 126.00. As long as price is within that supply zone and that demand zone, the consolidation phase will exist. On the other hand, there should be an end to the consolidation phase before the end of the week. It is after that that winners will be determined; either the bull or the bear.

 

GBPJPY

Dominant bias: Neutral  

This is a flat market, which has been particularly flat since the middle of November 2018. There is supposed to be an end to the flatness this week, because a rise in the momentum of the market is expected. The most probable direction would be skywards when a breakout does occur, because there is a high probability that GBP will gain enormous stamina. The supply zones at 146.00, 146.50 and 147.00 might be reached soon.

 

This forecast is concluded with the quote below:

 

“Trading is like playing chess; you can learn a lot about it by reading books but if you really want to get good in it, you actually have to do it on your own. Practice is necessary to becoming successful in many professions; and trading is one of them!” – Andy Jordan

 

Source: www.tallinex.com

 

 

 

 

 

 

 

 

 

THERE IS NO MAGIC

 

“Your trading methodology has to make sense for you even if it’s the opposite of what makes sense for other people. Choices made in developing your approach to trading should suit you personally to minimize internal conflict. Only then will you have the confidence to remain true to its development and its execution during tough times. The long-term advantage of developing your own system from scratch (rather than trading someone else’s system) assures you of high compatibility with your beliefs, personality, edges, and objectives. That compatibility becomes one of your sustainable edges. As Curtis Faith of Turtle fame noted: “It’s not about the system, it’s about the trader’s ability to execute the system.” – (Source: VanTharp.com)

 

 

LB and I have just wrapped up the final in our series on full time trading. For the most part they have been enjoyable except for one twat who complained that it was unprofessional of LB to not present when she was suffering from severe laryngitis. Presenting for the first time in years is an interesting thing as the expectations of those you present to also change over time.

 

This particular series could be summarised as all the mistakes I have made in trading and the solutions I have found such as they are. One of the things I have learnt over the past few decades is that there is no magic. Trading is a grinding profession where your central tenet is not to go broke waiting for the next big move. I think in part some attendees were waiting for the magic.

 

That point in the seminar where you do a grand reveal of your magic strategy that never has a losing trade which means you can quit your job tomorrow and start trading full time with nothing other than a credit card because CFD providers will now in their wisdom allow you to fund your account with credit and earn frequent flyer points.

 

Regrettably the field of investing has been tainted by endless shonks who have polluted the thinking of people before they even set foot in the market. Before writing this piece, I Googled trading bitcoin for a living and got 35,900,000 returns. Certainly not all of them relate to trading bitcoin or any other crypto full time but if even 10% do then then that’s a staggering 3.5 million  sites promising people that they can give up their day job and start trading overnight.

 

The central theme of these sorts of sites and it is not limited to cryptos is that you can trade full time with very limited capital. And you can do this because you will never have a losing trade. Your equity curve will be a linear trajectory that soars from the bottom left hand corner of the chart to infinity without ever breaking stride. I can understand why this sort of thing has permeated the thinking of new traders.

 

Whilst this sounds seductive it ignores many of the key realities of trading the foremost of which is that trading does not produce linear returns. We encounter a feature of equity curves called drawdown. All trading systems generate drawdowns – in a very general sense if you are a trend following you expect to have a drawdown of between 15% to 25% once per year. As an example, consider the equity curve below.

 

This is the equity curve of Dunn Capital a money manager that uses trend following as its basic tool. You see decades of outperformance punctuated by drawdowns. There is an inviolate relationship between performance and drawdown, if you are swinging fr the fences you need to expect to be struck out a lot. Irrespective of the trading system drawdown is a fact of life for traders – it can only be avoided by not trading. If someone tells you that their equity curve never draws down, then they are a liar. It really is that simple.

 

The implication for those seeking to trade full time is that your first drawdown will coincide with your move to full time trading. This is a natural feature of systems, they cut their losses and then let their profits run. There is a timing dislocation between these two events that results in the account value immediately slipping. The problem is that this occurs at a time when you are most economically and emotionally vulnerable, it is also a problem because most new traders are undercapitalised. They simply don’t have enough money because they have not thought their transitions through and they may or may not have been infected by the thinking that you can give up your day job and earn 100k a year on a bank of 50k. It is at this point in a seminar that I can see how people begin to sag because it begins to dawn on them that they need much more than think to survive as a trader.

 

However, I think they are missing the bigger picture since the move to full time trading does not have to be an all-in proposition. The move can occur gradually over time as your capital grows and you acquire more skill. And along the way your life begins to change in small but incremental amounts. You may even reach a point where you stop believe in magic and start believing in your own ability to slowly and inexorably change your own life.

 

Author: Chris Tate

Article reproduced with kind permission of the author.

Source: https://www.tradinggame.com.au/there-is-no-magic/

 

 

I end this piece with the quotes below:

 

“Just coming back from vacation where we’ve been doing a lot of hiking in the mountains, here’s an analogy. You’re standing on a peak of a mountain looking at an even higher peak. But to get there you first have to go down that small valley…no way around it!

 

It's the same in trading, so as long as the size of the drawdown is within your expectations, you can and should relax when you’re in a drawdown. It's just a necessity you have to endure to get those profits. So understanding and accepting Drawdowns as part of this business will make your life as a trader much easier!” – Marco Meyer (Source: Tradingeducators.com)

 

“Having said that drawdowns are still making me uncomfortable. I don't like them at all and each time I'm in a big one I'm having the same doubts and troubles most of you probably have too. But knowing that actually nothing is wrong helps a lot to make it through these times. Without that knowledge and understanding, you not only have the doubts but you allow them to win over, follow them and then probably stop trading at the worst time possible.” – Marco Meyer (Source: Tradingeducators.com)

 

 

www.tallinex.com wants you to make money from the markets

 

 

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

EURUSD is in a bearish trend – which started about 2 weeks ago. Price went downwards by roughly 160 pips last week, having gone down by 250 pips since October 15. Further bearish movement is anticipated, that would move price towards the support lines at 1.1350 (which was previously tested and will be tested again), 1.1300, and 1.1250. However, a very strong selling pressure is needed to break the support line at 1.1250 to the downside.

 

USDCHF

Dominant bias: Bullish

There remains a Bullish Confirmation Pattern on USDCHF, which has been in place for at least, 4 weeks. Since the current bullish movement began in September 21, price have moved forwards by about 470 pips. Last week, there was no significant bullish movement, and price closed on a bearish note on Friday, which was presumed to be a temporary reversal in the context of an uptrend. The bullish journey is expected to resume soon.

 

GBPUSD

Dominant bias: Bearish  

The movement on Cable is nearly similar to the movement on EURUSD – the only difference being that the movement on the former is faster than the movement on the latter. Since October 12, price has dropped at least, 450 pips, as the market makes high lows and lower lows. Higher lows allow traders to enter short at better prices, and it is a pattern that is expected to continue as Cable targets the accumulation territories at 1.2800, 1.2750 and 1.2700.  

 

USDJPY

Dominant bias: Bearish

The market is bearish, especially in the short-term; and in spite of bulls’ effort, a bearish signal has already been generated and this will become more significant as the market goes further southwards (a trend that is expected this week and next week). There would be pauses and transitory rallies on the way, but the demand levels at 111.50, 111.00 and 110.50 would be reached.

 

EURJPY

Dominant bias: Bearish

This is a classic example of a bearish movement. Since September 21, price has dropped roughly 600 pips, thus giving a rise to a strong Bearish Confirmation Pattern. The market will continue its drop this week, as JPY continues to exert its energy. There is going to be lots of opposition to the bearish trend once price reaches the demand zone at 126.50, nonetheless. But with enough selling pressure, the demand zone will be breached to the downside.

 

GBPJPY

Dominant bias: Bearish

There was a massive drop on the GBPJPY, which happened last week, and which ended the protracted ranging movement that was seen in the latter part of September 2018 and the early part of October 2018. The last week drop was over 400 pips, as the weakness in GBP was too favorable to the stoing JPY. Price closed on a bearish note on Friday, following some shallow upwards bounces. Further drop of at least, 250 pips is anticipated this week.  

 

This forecast is concluded with the quote below:

 

“Markets go up and markets go down. Sometimes they go up a lot and sometimes they go down a lot.” – Chris Tate

 

Source: www.tallinex.com

 

 

 

 

 

 

 

Weekly Trading Forecasts for Major Pairs (October 27 - November 2, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

EURUSD is in a bearish trend – which started about 2 weeks ago. Price went downwards by roughly 160 pips last week, having gone down by 250 pips since October 15. Further bearish movement is anticipated, that would move price towards the support lines at 1.1350 (which was previously tested and will be tested again), 1.1300, and 1.1250. However, a very strong selling pressure is needed to break the support line at 1.1250 to the downside.

 

USDCHF

Dominant bias: Bullish

There remains a Bullish Confirmation Pattern on USDCHF, which has been in place for at least, 4 weeks. Since the current bullish movement began in September 21, price have moved forwards by about 470 pips. Last week, there was no significant bullish movement, and price closed on a bearish note on Friday, which was presumed to be a temporary reversal in the context of an uptrend. The bullish journey is expected to resume soon.

 

GBPUSD

Dominant bias: Bearish  

The movement on Cable is nearly similar to the movement on EURUSD – the only difference being that the movement on the former is faster than the movement on the latter. Since October 12, price has dropped at least, 450 pips, as the market makes high lows and lower lows. Higher lows allow traders to enter short at better prices, and it is a pattern that is expected to continue as Cable targets the accumulation territories at 1.2800, 1.2750 and 1.2700.  

 

USDJPY

Dominant bias: Bearish

The market is bearish, especially in the short-term; and in spite of bulls’ effort, a bearish signal has already been generated and this will become more significant as the market goes further southwards (a trend that is expected this week and next week). There would be pauses and transitory rallies on the way, but the demand levels at 111.50, 111.00 and 110.50 would be reached.

 

EURJPY

Dominant bias: Bearish

This is a classic example of a bearish movement. Since September 21, price has dropped roughly 600 pips, thus giving a rise to a strong Bearish Confirmation Pattern. The market will continue its drop this week, as JPY continues to exert its energy. There is going to be lots of opposition to the bearish trend once price reaches the demand zone at 126.50, nonetheless. But with enough selling pressure, the demand zone will be breached to the downside.

 

GBPJPY

Dominant bias: Bearish

There was a massive drop on the GBPJPY, which happened last week, and which ended the protracted ranging movement that was seen in the latter part of September 2018 and the early part of October 2018. The last week drop was over 400 pips, as the weakness in GBP was too favorable to the stoing JPY. Price closed on a bearish note on Friday, following some shallow upwards bounces. Further drop of at least, 250 pips is anticipated this week.  

 

This forecast is concluded with the quote below:

 

“Markets go up and markets go down. Sometimes they go up a lot and sometimes they go down a lot.” – Chris Tate

 

Source: www.tallinex.com

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

 

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

 

To be successful trading, Dr. Steenbarger has learned:

 

1. A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

 

1. Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

 

1. A simple trading journal that will help you improve each day; and

 

 

1. That the best traders are ones that embrace losses and use them to become better.

 

Author: Dr. Brett Steenbarger

 

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading

 

www.tallinex.com wants you to make money from the markets.

 

 

 

TIMELY EXIT

 

 

“Successful Trading Is Not About Being Right.” – VTI

 

What is your tolerance for pain? Consider the following scenario. You have 10% of your account balance on the line. For the past two days, prices have been going in the direction you had anticipated, but today, an announcement was made that caused a market move that caused all your profits to be wiped out in an hour. What will you do? See if prices will move back to where you are okay again? At times like these, it is useful to have a clearly defined trading plan with a specific exit strategy.

 

Trading is inherently uncertain. You never know exactly what will happen next. That’s what makes the business exciting to some traders but nerve wracking to others. How you handle adverse events that make prices move against you depends on your personality. The best way to protect your capital is to use protective stops. When formulating your trading plan, you must decide how much pain you can tolerate. How much money can you lose before you have to exit the trade? You can set this exit point as a formal stop loss, you can use the automatic settings on your trading platform to set a stop, or you can use a mental stop (not recommended).

 

The problem with a formal stop loss procedure, whether it is a formal order or an automatic setting on your trading platform, is that a transitory change in price can ‘stop you out.’ if the placement of your stop loss does not adequately account for volatility. It’s hard to know how far a stock may move and a temporary drop can ruin your trading plan when a protective stop is not set properly. Mental stops may be more useful, but you run the risk of not being able to exercise your mental stop (think heart attack, nervous breakdown, stroke, personal emergency, computer failure, etc.). You can decide how far a stock price must move against you before you will liquidate the position. When prices reach the exit point, you can decide whether the low price is transitory or represents a significant change in trend. You can then exit the trade.

 

This all sounds good in theory, but depending on your personality, you may not be able to carry out this strategy. If you have trouble controlling your emotions and you use a mental stop, for example, you may have trouble closing the trade when it reaches your exit point. Some people panic and out of fear don’t close their position when their mental stop is reached. These people may need to impose the proper amount of discipline on their trading actions by using an electronic stop or a formal stop-loss order.

 

Minimizing trading losses is the hallmark of successful trading, but not all traders are equal when it comes to their ability to trade decisively under strain. If you want to trade profitably, you have to work around your personality. If you are cool headed, disciplined, and are willing to take the risk even under the most stressful conditions, you can use mental stops to protect your capital. But if you are easily shaken by choppy market action, you might want to use electronic, automatic stops to protect yourself. Whatever you do, however, minimize losses as much as possible. It’s the only way to trade profitably in the long run.

 

 

Author: Joe Ross

 

Source https://www.tradingeducators.com/edition-733

 

The article is ended with 3 quotes below:

 

“Getting out of trades too early with tiny profits very often is a sure road to bankruptcy. Sure it feels good to take some off the table right away…but it’s hardly ever successful in the long run.” - Marco Mayer 

 

“To make money out of these still requires good management. It is always challenging to see some traders make money from a trade while some traders lose money from the very same trade.” – Joe Ross

 

“Don’t let those losses lead to mindset traps that can stop you from taking the next trade. Change the way you think about your loss, and you’ll regain your motivation. I guarantee it.” – Louise Bedford

 

www.tallinex.com wants you to make money from the markets. 

Do you want to be a successful trader? Then you need to unlock your potential and develop the right habits and routines.

 

Experience shows that people want to keep doing what they are doing, while expecting different results. In trading, that means they carry on trading in a certain way even when it brings poor results. Making a career out of trading means you have to identify what doesn’t work for you, and stop doing it. But that’s not easy – nobody likes being told they are wrong.

 

Your mind is the biggest obstacle that you need to overcome. It prevents you from following trading plans and deceives you into disobeying winning rules because of a transitory setback, thus missing great opportunities to make decent profits. You can only unlock your trading potential through the realities of trading.

 

Unlock Your Potential with the Realities of Trading (almost free of charge): http://www.advfnbooks.com/books/unlockpotential/index.html   

 

www.tallinex.com wants you to become profitable  

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

As the beginning of last week, the pair saw a considerable increase throughout its first and second days of trading. Price later dropped below the resistance line at 1.1600, closing below it (and that signified a drop of more than 170 pips from last week’s high). This month, the outlook on EUR pairs is bullish, which means EUR would rise against most major currencies, thereby reversing the current bearish bias on the market. However, EUR may not be able to rally versus JPY.

 

USDCHF

Dominant bias: Neutral

The market has been moving sideways since June – hence the current neutral outlook. Price has been moving between the resistance level at 1.0050 and the support level at 0.9850, at least on a long-term basis. For the neutral bias to end, price would need to move out of these boundaries, and that is expected to create a directional bias. However, it may take several trading days (even a few weeks), for a strong, directional movement to occur. This is because volatility in the markets would be generally low this month, save in certain cases.

 

GBPUSD

Dominant bias: Bearish

The bias on GBPUSD is bearish and it would continue to be bearish, at least for this week. Price ranged from Monday to Wednesday, and then dropped further southwards on Thursday and Friday. The drop may continue this week, as price targets the accumulation territories at 1.2950 and 1.2900 (which may even be exceeded). A considerable amount of volatility will be witnessed on GBP pairs, while volatility will be low on most other pairs.

 

 

USDJPY

Dominant bias: Bullish

The situation on this trading instrument is tricky. It is bullish in the long-term, but neutral in the short-term. The bullish bias will soon change to a bearish bias (while the short-term neutrality will evaporate), because the outlook on JPY pairs is strong bearish for this week, and for the whole month of August. In fact, price is expected to shed a minimum of 300 pips this month, reaching the demand levels of 110.00, 100.00 and 109.00.

 

EURJPY

Dominant bias: Bearish

The market initially went upwards, reaching the supply zone at 131.00. Nonetheless, further upwards movement is rejected at that supply zone as price slid downwards by roughly 240 pips, closing near the demand zone at 128.50 on Friday. Since there is Bearish Confirmation Pattern in the market, further downwards movement is anticipated this week, which would enable price to reach the demand zones at 128.50, 128.00 and 127.50.  

 

GBPJPY

Dominant bias: Bearish

There is a “sell” signal in the market. Price first went upwards by 150 pips last week, reaching the supply zone at 147.00. It even moved slightly above that supply zone before dropping by 240 pips; hence the “sell” signal. Given the weakness of GBP, and the bearish outlook on JPY pairs, the most probable movement this week, is downwards. The demand zones at 144.50, 144.00 and 143.50 would easily be reached.

 

This forecast is concluded with the quote below:

 

“Trading in itself is a thrilling activity, and many non-traders never have a chance to experience that level of excitement.” – Andy Jordan

 

Source: www.tallinex.com

 

 

 

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Neutral  

Price made a bullish attempt on Monday, but started coming down afterwards. The support line at 1.1600 was tested and price bounced off it, closing above another support line at 1.1700. The market is neutral, and that status will continue as long as price oscillates between the support line at 1.1550 and the resistance line at 1.1800. However, the neutrality in the market will soon end, and ensuing movement could most probably favor bulls. This means a break above the resistance line at 1.1800 is possible before the end of the week.

 

USDCHF

Dominant bias: Neutral

This pair also went downwards at the beginning of last week, and then rallied around the middle of the week, only to come downward again at the end of the week. Price closed below the resistance level at 0.9950, threatening to go further downwards. The bias on the market is eventually neutral, and it would remain so until the support level at 0.9850 is breached to the downside. The most probable direction is southwards.

 

GBPUSD

Dominant bias: Bearish

GBPUSD is a weak trading instrument. Since April 14, price has been going downwards. Price moved briefly below the accumulation territory at 1.3000, and then rallied by 170 pips, almost reaching the distribution territory at 1.3150. The bias remains essentially bearish (but perpetual bullish effort could threaten the bearish bias). There are additional distribution territories 1.3200, 1.3250 and 1.3300.

 

USDJPY

Dominant bias: Bullish

After testing the supply level at 113.00 several times, a bearish correction was started, which made the price close below the supply level at 111.50 on July 20 (a drop of 150 pips). The bias is bullish in the long-term, but going bearish in the short-term. Things will go completely bearish when price moves further downwards by another 200 pips, reaching the demand levels at 111.00, 110.50 and 110.00, and going further downwards.

 

EURJPY

Dominant bias: Bullish

The market had been going upwards since June 28 until recently. The recent bias is bullish but there is a high possibility of price going bearish. Price has made a bearish U-turn, after almost reaching the supply zone at 132.00. It is expected that price will continue to go downwards this week, thereby rendering the recent bullish bias invalid and reaching the demand zones at 130.00, 129.50 and 129.00. Those demand zones may even be exceeded before the end of July.

 

GBPJPY

Dominant bias: Bearish

There is a Bearish Confirmation Pattern in the market, as a result of a drop of 300 pips last week. The drop has already generated a bearish signal in the market, brought about by the perceived weakness in GBP, and the strength in JPY. This week (even till the end of July), the outlook on JPY pairs is bearish, and that means GBPJPY also will experience further bearish movement, which would enable it to reach the demand zones at 145.50, 140.00 and 135.50.   

 

 

 This forecast is concluded with the quote below:

 

“A surprising insight for me in Jack Schwager’s Market Wizards was that most of the top traders he interviewed are 1-trick ponies: they do one thing — and they do it very well. Their success was built upon their ability to discover what others overlooked. I concluded that ‘doing one thing well’ would immediately simplify my trading life and could eventually evolve one thing into an important trading edge.” – VTI

 

Source: www.tallinex.com