General Notes:
Happy Halloween everyone! Hope you all dress up like crazy mental patients and scare the piss out of some kids tonight! Lol, Opened two trades today and I posted a video link to both of them below, highlighted in yellow. You can also check out the $EURUSD trade video HERE and the $USDCHF trade video HERE. I want to thank a twitter friend @steventaggart who inspired me to try and save the images on the blog in a diffeerent format. Seems to be a lot brighter and a bit clearer. Anyone else having issue seeing the charts, email me at magictrader@outlook.com. So congrats to those who sent me messages thanking me for the setups and alerts as they banked big time! Nothing makes me happier than to be able to help others make money from the banks that have been stealing it from us for years! Here's to our SUCCESS! ********** CHEERS! ************ We should all be heading to the bar tonight for some celebratory drinks!Yes, finally, I started my YouTube channel, where i will be posting my thoughts and analysis on the FOREX currency pairs. No, it's not another analysis video, using regular technical analysis thats wrong more often than not, this is Supply & Demand baby, this is where the institutions have Buy and Sell orders. This is the real deal technical analysis!
Watch the latest Institutional Supply & Demand Outlook Video
Click here for the Week Ahead -> Oct 27 - 31, 2014 Market Movers
The Magic Trading Portfolio's Position Sizing:
Currencies --> Risking only $100 per trade. As my risk tolerance gets larger, I will slowly start increasing my risk amount. This is how you become a consistently profitable trader.You can follow, learn & PROFIT from The Magic Portfolio by following the members only @MagicAlerts on Twitter. I'll be sharing my thoughts on the markets, providing video lessons on trading Supply & Demand and also be sharing with followers some very exclusive stuff. You'll have to follow to find out what. I am mapping out Institutional Demand & Supply. Do your own DD and use the info whatever way you see fit. Welcome to The Magic Trading Portfolio!
If there is any one thing that has added more to my success than anything else, it is understanding how important it is to time the market with your trades. The key to my strategy is to time the $USD's GREEN and RED zones with the GREEN and RED zones from the setups. If the US Dollar and the $USDCAD, $USDCHF or $USDJPY are both entering their same coloured zones at around the same time or if the US Dollar and the $EURUSD, $GBPUSD, $AUDUSD or $NZDUSD are both entering the opposite coloured zones then the probability of the setup working out is highest.
SHADED GREEN ZONES = Strong Buy Zones
SHADED RED ZONES = Strong Sell Zones
Markets Overview (The Big Picture):
Perception of Monetary Standing: HAWKISH => NUETRAL
--> $USD could drop to the weekly demand zone at 84ish.
$USD Overview (Daily Chart)
--> We could be seeing more downside on the USD this week. RSI on this last move up showing below 60, meaning further downside is to be expected.
Currencies:
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The Million Dollar Strategy:
Chart Setup --> Chart has an 89 period EMA and an 8 period EMA, RSI indicator of 60 overbought and 40 oversold.
Buying or Selling when price enters a 240 minute area of demand/supply outlined by the green zone/red zone. First target will be opposing 240 min supply zone/demand zone and the opposing daily or weekly supply zone/demand zone.
Perception of Monetary Standing (courtesy of DailyFX):
Decreased <== LONG -> 50k SHORT -> 28K ==> Decreased
Notes: Price showing weakness, as $CAD is getting stronger. May want to drop and hit daily/240 demand before heading back up. Idea is that price will break up to new highs and head to weekly supply at 1.16000.
$AUDUSD -> Commitment Of Traders Report: Institutional traders are VERY SHORT biased. (10/21/14)
Decreased <== LONG -> 13k SHORT -> 45K ==> Increased
Perception of Monetary Standing: DOVISH
Notes: The Aussie hit weekly demand that is not authentic but fresh so this level should not hold. Now heading up toward daily supply zone where price should drop and break through the weekly demand zone area and head to at least daily demand at 0.84000.
THE SETUP ==> Short @ 0.89765, SL @ 0.90080, T1 - 0.88930, T2 - 0.87551
Video Link ==>
Notes: The Aussie hit weekly demand that is not authentic but fresh so this level should not hold. Now heading up toward daily supply zone where price should drop and break through the weekly demand zone area and head to at least daily demand at 0.84000.
Decreased <== LONG -> 25k SHORT -> 7K ==> Decreased
Perception of Monetary Standing: NUETRAL
Notes: Price just hit daily demand and is heading higher, if 0.95927 break then I think we will see 0.98's and higher. Otherwise we will head down to weekly demand below .92000
Notes: Price just hit daily demand and is heading higher, if 0.95927 break then I think we will see 0.98's and higher. Otherwise we will head down to weekly demand below .92000
Oct 30 -> Trade Activated
Same <== LONG -> 60k SHORT -> 219K ==> Increased
Perception of Monetary Standing: DOVISH
Notes: Weekly RBR demand hit and price went higher towards daily/weekly supply. Seems to want back down. Next stop 240 demand at 1.24614, but first would like a rally to 240 supply for the short.
THE SETUP ==> Short @ 1.26169, SL @ 1.26560, T1 - 1.25270, T2 - 1.24620
Video Link ==> Click 2 Watch
Oct 30 -> Trade Activated
Notes: Weekly RBR demand hit and price went higher towards daily/weekly supply. Seems to want back down. Next stop 240 demand at 1.24614, but first would like a rally to 240 supply for the short.
Video Link ==> Click 2 WatchOct 30 -> Trade Activated
Decreased <== LONG -> 36k SHORT -> 41K ==> Decreased
Notes: Might see more upside on the Pound, as it hit Monthly/Weekly/Daily demand zones. Price hit the 240 demand zone and is heading on up, should head up to the weekly supply at 1.6238 - 1.6416 and then drop. 1.65 weekly supply is where we are eventually headed IMO.
Decreased <== LONG -> 98k SHORT -> 26K ==> Decreased
Perception of Monetary Standing: DOVISH
Notes: Hit some weekly supply and dropped and hit daily/weekly demand, now price is heading back up but right into weekly supply at 109.01 - 110.08. RSI will show negative divergence when price gets up there so we could see more downside towards weekly demand at 104.46. Institutions took profits on their long position at the 110.000 area as per COT Report.
Decreased <== LONG -> 8k SHORT -> 10K ==> Decreased
Notes: Price came within pips of the weekly supply and then dropped towards the weekly demand. May get a bounce creating a higher RSI and then back up toward weekly supply.
Decreased <== LONG -> 25k SHORT -> 7K ==> Decreased
Perception of Monetary Standing: NUETRAL
Notes: Price just hit daily demand and is heading higher, if 0.95927 break then I think we will see 0.98's and higher. Otherwise we will head down to weekly demand below .92000
Notes: Price just hit daily demand and is heading higher, if 0.95927 break then I think we will see 0.98's and higher. Otherwise we will head down to weekly demand below .92000
October 28 -> Trade Activated
October 29 -> Closed trade to reduce risk before FOMC
Trade Review => Click 2 Review
Great video to watch -> Will help you in your trading psychology!
