Learn Forex: Finding Short Term Scalping Momentum

Learn Forex: Finding Short Term Scalping Momentum Learn Forex: Finding Short Term Scalping Momentum
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Scalping in the Forex market can be difficult if we cant identify a short term trend. Today we will analyse the first step of scalping by determining market momentum.Finding the short term trend and identifying market momentum are two important skills for those looking to utilize scalping strategies in the Forex market. Regardless of the strategy chosen, it is always important to have a trading bias to determine if we are looking to buy or sell a currency pair prior to moving in on a shorter term graph.Below we can see an example of the EURJPY trading on a 5minute graph. Would you be a buyer or a seller at current market prices? For new traders this can become a hard decision with the limited amount of data at our immediate disposal. To help identify trading opportunities, today we will discuss looking at a broader range of price action by segmenting it into Building Blocks. (Created using FXCM’s Marketscope 2.0 charts) Building BlocksBefore scalping on shorter term graphs, many traders select to use a form of multi time frame analysis to decide market direction. Pictured below we have a 30minute EURJPY graph depicting approximately a weeks’ worth or price action. Notice how the graph has been segmented into two distinct trading blocks. They have been created by identifying the previous Sunday and Wednesdays on the chart. Drawing a Building Block on Market Scope 2.0 is relatively straight forward by using the vertical line function under the insert menu. Once you have created one line, you can cut and paste the others on the appropriate dates in order to begin your analysis.The purpose of starting with a larger time frame, and then moving down to a smaller chart, is to fragment our analysis and ensure that price is heading in a continuous trending direction. If a block is printing higher highs and higher lows, it will be colored blue indicating an uptrend. If price is making lower highs and lower lows it should be colored red indicating a downtrend. If you have identified a strong trend, both Block 1 and Block 2 should be moving in the same direction and painted in the same color. If you find yourself looking at two different colored blocks, this is a strong sign that there may be no clear trend. At that point if you have no market bias it is time to move to a new chart for potential scalping opportunities. (Created using FXCM’s Marketscope 2.0 charts) Block InterpretationNow that we have our building blocks built into our graphs, it is essential to know how to interpret them. The analysis for Block 1 begins on Wednesday November 14th. At this point in time the EURJPY printed its standing low for Block 1 at 100.83. By its conclusion price had rallied as much as 306 pips up to the Block 1 high at 103.97. Once momentum to the upside is confirmed this block should be colored blue. Remember when it was said that the strongest trends have both Building Blocks trending in the same direction? The chart above also depicts that Block 2 has been colored blue as well, signaling the continuation of an uptrend. From Sunday November 18th through Wednesday November 21st, price printed higher up to 104.82, without creating a lower low. With our Building Block analysis complete, we now know that we should only be looking to buy the EURJPY with the scalping strategy of our choice. Traders will look for momentum to carry through the rest of the week, at which point a new block will be formed and our analysis will begin again. —Written by Walker England, Trading Instructor To contact Walker, email [email protected]南京夜网 . Follow me on Twitter @WEnglandFX. To be added to Walker’s e-mail distribution list, CLICK HERE and enter in your email information. Want to learn more about trading CCI? Take our free CCI training course and learn new ways to trade with this versatile oscillator. Register HERE to start learning your next CCI strategy! .

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Learn Forex:Technical vs. Fundamental Analysis Showdown and the Yen

Learn Forex: Technical vs. Fundamental Analysis Showdown and the Yen Learn Forex: Technical vs. Fundamental Analysis Showdown and the Yen
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Learn Forex: Technical vs. Fundamental Analysis Showdown and the Yen

Learn Forex: Technical vs. Fundamental Analysis Showdown and the Yen

Few currencies pairs are as hotly contested as the Japanese Yen against major currencies pairs. This is the perfect time to look at Technical vs. Fundamental Analysis to get a full picture of potential price action to come.For new traders coming into the Forex market there can seem to be a battle of fundamental vs. technical analysis of the market. You should combine both. When your views on the currency align based on fundamental and technical data that can be a good time to look for a trade entry.Here is a breakdown of both types of study and forecast and how it relates to the currency pair of the month, the Japanese Yen. Fundamental AnalysisFundamental analysis looks at the underlying economic conditions of a financial instrument. It’s difficult to make trades strictly from a fundamental point of view. At the same time, it isn’t impossible. Most people who speculate from Fundamental data alone would call themselves investors or positions traders because there is no clear cut price-based exit point. Fundamental Analysis focuses around the Economic Calendar and Central Bank Announcements. By studying the pattern or trends in interest rates, jobless claims, and treasury yields to name a few, you can get a grasp on the overall health of the economy and potential direction the currency of the economy will move to next. Fundamental Analysis and the JPYFrom a Gross Domestic Product perspective, it is in the best interest of the Japanese economy to have the weakest Yen as reasonably possible. Because they are an export based economy, it only makes their goods more expensive to buy when other currencies fall against the Yen. The Bank of Japan took a drastic step last month in weakening their currency in a manner never before displayed. JPY has been on a constant fight to weaken their currency and improve their economy without the success they sought. Last month, the Minister of Finance & Minister of State for Economic and Fiscal Policy all stated their commitment to weaken the currency and support their export based economy. Also, there is a big election coming up and the front runner, Shinzo Abe of the Liberal Democratic Party is running a Pro-Quantitative Easy campaign which weakens a currency by increasing the supply dramatically.This economy gives the Fundamental Analyst a lot to chew on. Japan is the third largest economy in the world with a currency changing election coming up centered around economic policy. Technical AnalysisThe study of price action has become the mainstay of traders as the internet age has merged trading prices being recorded on charts in real time. Traders love technical analysis because of the argument that all news or fundamental analysis is priced into the chart. Price is also the best way to see the emotions and collective behavior behind price and price patterns. It’s easier to make trading decisions in terms of entries and exits from price action and the historical behavior pattern of prior traders. Technical analysis brings in the actions of people who moves price. Because the people who trade and move prices don’t always act rationally, it’s beneficial to study patterns of past behavior. Technical trading is like getting into the mind of the market to see what it may likely do next based on historical behavior as opposed to what it should do based on the news alone. This also gives traders an unlimited of trading opportunities by studying different patterns across different time frames. Technical Analysis and the JPYThe Japanese Yen has been on a historical bull run. This means that against every currency pair it trades against, they are all weakening in relation to the Japanese Yen over the last several years. The USDJPY alone has seen a major move as have a lot of other common pairs against the JPY like the GPBJPY GBPJPY Monthly Chart:Many traders have put their hand on the hot stove of trying to buy the bottom of the Japanese Yen as it falls on the charts. There are green shoot that your attention should be glued to regarding this potential turn around.If we look at a daily chart, we can see that a multi-year down trend line has been broken. This means a little more than the 200 Day Moving Average because we have seen price break through that line multiple times only to break back down. The key here is to look for price to start making higher highs and higher lows so that we can see a multi-year trend reversal forming. It’s often said that one of the best places to be fashionably late but not too late is in trading. In essence you want the trend reversal to prove itself now that it has broken out of this triangle and downtrend. Convergence of Technical & Fundamental AnalysisTraders don’t need to worry about whether Technical or Fundamental analysis is better. Rather, combine both to find a time when the fundamental and technical outlooks for a currency come together. Fundamentally, we have a game changing election and coordinated front to weaken the Japanese currency that has in prior times only been focused on the Bank of Japan.Technically, we see a multi-year trend line that has broken to the upside showing that the Yen is weakening. We recommend letting this move play out before getting into a position if you feel it is right for you. Whether or not the trade is right for you, we always recommend appropriate trade size and risk management be utilized. Happy Trading. —Written by Tyler Yell, Trading Instructor To contact Tyler, email [email protected]南京夜网 . To be added to Tyler’s e-mail distribution list, please click here . Unsure which indicators match up with your skill set? Take our Forex Trader IQ Course to receive a custom learning path for how to trade FX.

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What’s on at BIFF – Friday, November 23

Bobcat Goldthwait’s God Bless America. BIFF
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Mongolian Bling was five years in the making.

Mongolia may be best known for nomads and Genghis Khan, but its emerging hip-hop culture is beautifully brought to the fore in Mongolian Bling, a documentary five years in the making for director Benj Binks. With a rich tradition of epic songs, throat singing and spoken word, some local enthusiasts even believe hip-hop originated in the country. 6pm, Tribal Theatre 2.

Start laughing right off the bat in Save Your Legs! a bromantic comedy that really is cricket. Written by and starring Brendan Cowell, it also features Stephen Curry and Damon Gameau as members of a cricket club that gets a sponsored trip to India. Runs on the field won’t be the only type they have to deal with; and an encounter with Bollywood might have them bowling a maiden over. Had enough cricket puns? All right, I’ll pull up stumps. 7pm, Palace Barracks 1.

God Bless America is a bloody rage-fest created by comedian Bobcat Goldthwait. It’s a pitch black satire on reality TV, as depressed and dying Frank goes on a killing spree with disaffected teenage sidekick Roxy. Comedy as revenge fantasy. 7pm, Tribal Theatre 1.

Liberal Arts is an indie rom-com by Josh Radnor, from TV’s How I Met Your Mother. Radnor also stars as bored 30-something New Yorker Jesse, who finds a new lease on life when he heads back to his old university. 9pm, Palace Centro 1.

Salon Kitty is a 1976 feature credited with starting the “Nazisploitation” genre. And there you were thinking you couldn’t actually ‘sploit vicious fascists. It’s the story of Kitty, forced to run a brothel that feeds information to the Gestapo in order to escape internment. She must train her working girls in fulfilling every perverted desire, which, being Nazis and all, is a broad sweeping canvas. Speaking of broads, there’s a lot of nude ones in this film. It’s definitely not for children, the squeamish or the prudish. The perverted? Go right ahead. 10pm, Tribal Theatre 2.

For more info and bookings visit the BIFF website.

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STANDING UP FOR WOMEN: White Ribbon Day 

EDITORIAL:Men standup forwomen
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Domestic violence-related assaults in the Hunter have doubled since 1998, and police in the region have been called to 12,700 domestic incidents in the past year alone. Today, high-profile Novocastrians join the Newcastle Herald in calling on the men of the Hunter to take a stand and say no to violence against women.

ON the eve of this year’s White Ribbon Day on Sunday , the Hunter’s men are being urged to let their mates know they say ‘no’ to violence against women.

Among those who have taken an oath in support of the campaign are Newcastle Knights rugby league coach Wayne Bennett, Knights player Jarrod Mullen, Jets player Ruben Zadkovich and police superintendent Craig Rae. Ambassadors include Clubs NSW Newcastle representative Jon Chin, former union leader Kevin Maher and Newcastle Herald editor Chad Watson.

Their oath is to never commit violence against women, never excuse it and never remain silent about. Hundreds of men will attend today’s White Ribbon Day Hunter breakfast at Newcastle Panthers.

VIOLENCE IS ESCALATING

By Gabriel Wingate-Pearse

HUNTER police have responded to more than 12,700 reports of domestic violence in the past 12 months and the demand for support services is ‘‘skyrocketing’’.

Nearly half those incidents involved a criminal offence.

Since 1998 the number of domestic violence-related assaults has almost doubled, up to 2532 in the 12 months to June 2012, from 1321 in 1998.

But police say the statistics reveal only a fragment of the issue with the majority of women reluctant to report or seek assistance.

Central Hunter Crime Manager, Detective Inspector John Zdrilic, said it is an ongoing challenge to encourage women to come forward.

‘‘I am of the view that it is under-reported here,’’ he said.

‘‘What I am saying is reach out, don’t feel that there

is nothing you can do about it.’’

Newcastle Domestic Violence Resource Centre counsellor and outreach support worker, Robyn James, said domestic violence

was more prevalent, and more severe than people realised.

‘‘Most haven’t contacted the police for a number of reasons, often because they don’t want to escalate the situation,’’ she said.

‘‘They don’t understand that an apprehended violence order is not giving the other person a criminal record, and they certainly should take it, that’s what we would recommend that they do.’’

Pam Morris, a committee member and worker at Newcastle women’s refuge Jenny’s Place, said hundreds of women desperately seeking help were being turned away as accommodation was a massive issue.

‘‘We have got statistics to prove that the turn away figures each year are sky-rocketing and the number of clients that Robyn is supporting through the resource centre is sky rocketing,’’ she said.

‘‘Our turn away figures for 2010-2011 financial year were 324 women, and 391 children. In the 2011-2012 financial year we turned away 570 women, and 620 children.’’

Maitland-based domestic violence liaison officer Constable Jenny Brown agreed that accommodation was a major issue for victims of domestic violence, as well as financial barriers.

‘‘Can you walk out the door on your own life? It’s complicated but in some cases that is what has to be done,’’ she said.

‘‘It’s easy for other people to judge but it’s very difficult.’’

But there were also times when the offending behaviour could be identified, and addressed, she said.

‘‘Police are not about breaking people up, it’s about the violence stopping.’’

THE SAD FACTS

■The number of domestic violence-related assaults in the Hunter has almost doubled since 1998 – up to 2532 in 2012, from 1321 in 1998

■Cessnock had the highest rate of domestic violence-related assaults per 100,000 people in 2011 of 552.2, compared to the NSW average of 372.4

■Newcastle (403), Maitland (421.9), and Muswellbrook (450.5) also recorded above-average rates of domestic violence assaults

■Newcastle women’s refuge Jenny’s Place was forced to turn away 570 women and 620 children during the past financial year

■The demands on the Newcastle Domestic Violence Resource Centre has risen from an average of 32 referrals per month in 2011 to 60 last month (October 2012)

Source: NSW Bureau of Crime Statistics and Research, Jenny’s Place and the Newcastle Domestic Violence Resource Centre

CASE STUDY:Hoping for a better future

By Shanna Beeton

AFTER months of not seeing her long-term partner, Kate* knew that his sudden reappearance in her life meant trouble.

When the couple met 14 years ago Kate was instantly attracted to Dean*.

He was funny and exciting, but soon after Kate fell pregnant with their first child she realised he was not the man she had fallen in love with.

The mother of six, who is now living in a women’s refugee, suffered years of abuse from the father of her children.

‘‘I spent years putting up with the kids’ dad, and it wasn’t until the police got involved that we could get away,’’ she said.

Kate, who didn’t want to deprive the children of their father, said she became trapped in a cycle.

‘‘He’d make excuses to stay the night and the kids would be so excited to see him, they’d want him to stay for dinner, then I’d get sucked back in and the cycle would start again.’’

The abuse escalated over the years, from emotional and verbal batterings to physical violence.

‘‘There was always verbal and emotional abuse, then there was physical violence,’’ she said. ‘‘He’d always use the kids against me because he knew I would do anything for them.’’

It wasn’t until Dean failed to return the children from a weekend visit that Kate realised the severity of the situation: ‘‘He took five of the kids and had them for seven months, leaving me with my oldest daughter.

‘‘Then he just dropped them back one day when he realised it was too hard to look after them.’’

Once reunited with her kids, Kate planned to move out of what had become the family home.

‘‘I’d packed all my thing into boxes getting ready to move, and he broke in and ransacked the house I was renting,’’ she said. ‘‘We lost everything.

‘‘We came to the women’s refugee with the clothes we were wearing.’’

The damage to the property was so severe that Kate was blacklisted from the rental market.

‘‘I thought he had the upper hand for a while, he just wore me away,’’ she said. ‘‘In hindsight I should have protected myself better but the thought of putting him in jail made me feel guilty because he is the kids’ dad.

‘‘I realise now what he was doing, but at the time you don’t realise. All we can do is hope for a better future, and slowly we’ll get there.’’

*Not their real names.

‘Protector’ charged with rape of foster child

A DEPARTMENT of Family and Community Services employee whose job was to protect abused children is accused of repeatedly raping a foster child over a two-year period, Newcastle Local Court heard yesterday.
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The harrowing allegations relate to a primary school-aged girl who the accused had access to via a relationship with the girl’s foster mother, a police statement said.

The sexual assaults, some of which carry maximum penalties of life imprisonment, are alleged to have occurred between early 2010 and as recently as November this year at various locations in the Newcastle area, the statement said.

The girl told police that after one of the rapes the accused allegedly said: ‘‘Don’t tell anyone or I’ll literally kill you. See that bat. That’s my hitting bat. I’ll hit you with that if you tell someone.’’

The Newcastle child abuse squad was alerted after the girl’s foster mother asked her and her brother whether they liked the accused, the statement said.

They said they did not.

The brother said he did not like that the accused always took his sister to the accused’s bedroom and would tell the brother to go away.

The girl initially denied this but later told the foster mother about the alleged assaults.

The foster mother then called the DoCS hotline and the accused was arrested and charged last Friday.

Defence solicitor David Malcolm said the accused had no relevant criminal history, the support of his wife who was in court and strong ties to the community.

Magistrate Roger Clisdell said the charges were extremely serious, but he was satisfied the accused no longer had access to the girl who had been moved to another foster family.

The accused, who appeared in court via audio-visual link from Cessnock jail, was granted strict bail including conditions that he not contact any of his colleagues to obtain the girl’s whereabouts.