Hi there, my name is Ivan, FX trader. After studying varies sources of information for the past few years, my understanding of the FX market has improved dramatically, with this blog simply intending to share with you all a journey within my mind. When I make it to full-time trading, I know the first person I should be grateful to is an Aussie PA trader named Jonathon; He has been inspirational and an enormours influence to gauge where the money flows to. His trades can be followed at http://forexpriceactiontrader.blogspot.com/ . What price is telling you is key, as it always whispers in low or high intensity what market intentions are. I do not endorse the use of any indicators, as they are lagging in nature; analysis should be based on pure price action. Besides, other factors like sentiment, fundamentals, risk control, rock-solid discipline, thousands of hours readings charts, also make up the equation to succesfully ride the FX waves. When entry triggers are detected, I act without hesitation, letting the market do its thing. Please note, information and opinions contained in this blog are for educational purposes only and do not constitute trading recommendations, thus will not take responisbility for any losses viewers may have. Trading FX carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. You should not invest money that you cannot afford to lose.







Friday, 4 February 2011

USD/CHF - EXAMPLE OF TECHNICAL CONFLUENCE


I am not taking the trade, just wanted to point at a great example of excelent confluence in the pair USD/CHF, we have 50% fib, in line with a descending trend line and a very strong key horizontal level. If any sort of PA is formed around this vicinity, will most definetely jump in...
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  1. JVF9 February 2011 at 06:14

    Hey Ivan,

    great level spot mate. Spot on. Oh and thank goodness we trade with PA for confirmation. I was with you here that if PA was present I probably would have taken some shorts but nothing doing and hence saving our butts!!!

    Hey great blog mate keep it coming. I think I will add a forum to my blog soon as it will be easier to address some things.

    Also I added a small article asking people who want to join your blog to email you.

    Safe trading,

    Johnathon

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