https://youtu.be/bsKIHlKcRjo
In this session with Anna and David of Quantum trading, they focus here on the US markets and in particular the US indices using Quantum Trading indicators and tools for NinjaTrader. Using non time based charts is a popular approach for intraday traders, and in this session they focus on the NQ emini, the futures contract for the Nasdaq 100. The reason non time based charts are so popular is very simple, as they reveal market momentum, something you never see on a time based chart. As the market speeds up and slows down, so this is revealed graphically on the chart itself.
The two charting approaches used here are using renko and tick. Quantum Trading has developed a unique variant of the standard renko indicator and called the renko optimiser, which does exactly what it says. Selecting the optimal brick size is often just a guess, but not with this indicator which delivers the correct renko brick size for all...
In all the brouhaha about Greece and the euro it's easy to forget what else is going on in the forex market. Sometimes I feel Greece is taking up too much space in traders' heads at the expense of other markets and currencies. And for a perfect example of what I mean look no further than the continued strength in GBP which has seen some great trends in GBP/NZD & GBP/CAD & I'm still waiting for the GBP/JPY to turn lower, but only once we see a major reversal in risk sentiment.
On both charts the NinjaTrader trend monitor has remained firmly bullish with only a minor transition on the GBP/CAD reflecting the recent pause in the longer term trend. However, moving to the NinjaTrader currency strength indicator to the left of the chart, here we can see that the British Pound, the yellow line, is now moving ever deeper into the oversold region on the daily timeframe, so this trend...
The RBNZ certainly livened things up overnight - I don't remember seeing quite so many gaps or such strong moves delivered by one currency! NZD is pretty illiquid at the best of times, so any volatility will magnify any moves.
With the NZD it's a case of the central bank making it very clear further rate cuts are on their way & with the US finding some bullish sentiment this morning - NZD/USD looks set for a further fall. So far this morning the pair has managed to find some support at the 0.70 region, but a quick look at the weekly and monthly chart reveals the extent of this bearish sentiment. with the month chart in particular, where the price is now at the 200 ma.
The VPOC ( volume point of control) is now well above the current price action and adding further weight to the bearish sentiment. In addition, with several LVN (low volume nodes) we are likely to...
If you come along to our forex webinars you will always hear David & I explain the importance of the fundamental news & how easy it is to be ambushed by 'events'. But I must admit so far it's been absolutely relentless & it's only Wednesday!
Coming up we have Aussie retail sales & Trade Balance - both very important numbers, and so far it's been a buy of the Aussie except against the euro - a trade we've been following. Of the two releases - the Trade Balance number has been negative since July last year, and whilst February's number was encouraging, coming in at -0.44b against a forecast of -0.85b, the subsequent releases have been dire.
Tonight's headline number is -2.17b against a forecast of -1.32b, in fact a further deterioration, and with AUD/USD having moved strongly higher yesterday as a result of USD weakness. it's no surprise to see a doji on today's daily chart, which by coincidence is...
Without wishing to downgrade this evening's FOMC minutes, which will no doubt result in the usual volatile market moves, stop hunting & general shenanigans, the main FED event takes places on Friday at 6.00 pm London time. This is when Janet Yellen is due to give an important speech about the US economic outlook, and so one to watch.
Meantime USD strength has continued overnight across the majors and into this morning, with German PPI helping to give the eurodollar a shove lower. Other items of note this morning include the MPC (Monetary Policy Committee) of the BOE playing their standard formation (football parlance) of 0-0-9. In other words 9 defenders, no midfield & no strikers.
For FED watchers FOMC Member Evans has been speaking in Munich and has been simply repeating his call for a delay in raising interest rates. No moves expected as he is re-iterating his well known stance as a dove. This is why we need to know where...
USD buying has continued into US session, and despite it being a holiday in Canada the USD/CAD has done really well. Question now is how far is USD likely to move higher. The key level is 11,750 on the USDX index which is the support platform which was breached last week & of which we may see a re-test.
Focus overnight is back to AUD & NZD, with a monetary policy statement from the RBA for the first, & inflation expectation for the second. Both AUD/USD and NZD/USD have had a bearish day, although Aussie dollar less so. In addition, whilst we can expect a reaction in both these pairs, we can also expect some interesting moves in the AUD/NZD cross which today has had an 80 pip move to the upside.
Since last Tuesday the pair has traded in a relatively narrow range, 1.0865 to the top & 1.0776 to the bottom, and I do believe the overnight news may be...
It was an interesting week for the British pound and in particular against the US dollar, with the pair selling off sharply on Friday and closing with a wide spread down candle on the daily chart. The move lower was in stark contrast to the recent trend for Cable which had been firmly bullish rising in tandem with the EUR/USD as US dollar weakness prevailed on the dollar index. The move on Friday came as no surprise to those traders using a currency strength indicator, with the British pound moving to a deeply overbought region on the indicator, and counterbalanced with the US dollar being equally oversold in the slower timeframes. With Thursday's election now on the horizon, and with a slew of opinion polls due for release in the next few days, these are continually signalling a close result with no party likely to have an overall majority in Parliament. As a result we can expect to see further...
Ahead of the German ZEW data this morning, markets are positioning for a move in the euro dollar, with the euro now heavily oversold and the US dollar equally over bought in the faster timeframes. Using the currency strength indicator in multiple timeframes provides a fast and visual picture of currency strength and weakness, with the euro (the gold line) now deeply oversold from the the 5 minute to the 30 minute timeframe, and preparing to reverse the longer term bearish sentiment ahead of the news. Apart from the ZEW, the only other ongoing euro news is of course Greece which continues to weigh on the single currency.
Finally remember that any market or currency can remain over extended for some time, and as always patience is the key coupled with the price action on the charts. The currency strength indicator is always the starting point to identify potential strength and weakness in an individual currency. Then it's time to consider...
Denver, CO, Tuesday, April 7th, 2015 - NinjaTrader Group, LLC has announced the addition of forex trading to the services available through NinjaTrader Brokerage. Users of the awardwinning NinjaTrader platform can now access the world’s largest and most liquid market directly through a NinjaTrader Brokerage trading account. “We are excited to expand our brokerage services offering with the addition of spot forex”, stated Raymond Deux Founder and CEO of NinjaTrader. “NinjaTrader users have continually recognized the advanced analysis and automation capabilities of the platform are an ideal fit for the highly liquid forex markets. Combined with our Ecosystem of over 450 partners and add-on applications, NinjaTraders’ extensibility allows FX trader’s to customize the platform to match their evolving requirements.” As an Introducing Broker for FXCM, NinjaTrader Brokerage clients will have access to one of the industry’s largest networks of FX liquidity providers.
This partnership will deliver savings to NinjaTrader clients through super tight spreads and deep discount commissions as low as...
In this morning's forex trading session with Anna and David, one of the currency pairs they focused on was the EUR/AUD, which was the strongest performing currency pair in the currency matrix. The 60 minute currency strength indicator confirmed the longer term position, with the euro (the orange line) climbing strongly towards the overbought region on the indicator, with the Aussie dollar ( the blue line) moving firmly towards the oversold region in this timeframe. The 5 minute chart alongside reflects the trend, with the trend monitor maintaining the bullish picture, and only moving into a transitional color during the minor congestion periods. The trend monitor sister indicator, the trend dots completes the picture and highlighting these congestion phases in advance.
Volumes throughout the move were in agreement and confirming the bullish sentiment for the pair with the accumulation and distribution indicator on NinjaTrader, highlighting the keys areas of support and resistance. The support platform at 1.4252 held firm during the...
