6m 4s: Lenght

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=trade_forex&ad=s9dg8ms5rQs Another currency pair that we’ve been trading is the USDCHF. Trading the direction of the trend, which is the blue trend line. Over the past couple of days, we bought it on a dip into support. Let’s zoom it in a couple of times here, over here, and there’s your green-shaded area. We bought it at the green zone, continuing to follow support. If we’re going to buy it again, we need a dip to support. So, right now we’re looking for maybe a dip back down here to the purple-shaded area as an opportunity to jump back in, or possibly the next opportunity would be the break above the blue-shaded area, which it hasn’t done yet. 1.0310 or 1.0287. That’s the numbers of the blue-shaded area. 1.0310, down to 1.0287. A break of that, we’ll look for the continuation higher. At this point, no reason to change our mind about that. Let’s take it on over here to the Euro versus the US Dollar [EURUSD]. This is a trade we spoke about in length yesterday in the live Trade Room. Well, several trades, but really looking at this EURUSD. We looked at the breakout of potential support. We’re looking at multi-year supports here. I’ve zoomed way out here on the daily timeframe, so we could see all the way back to February and March of 2015, so almost two years ago. We could see support bottom left-hand corner of the chart. This should tell you how significant of a barrier this is right around the 1.0465-level. Back here on the left-hand side, that was the support that caused the reversal. So, we have not seen the market underneath the 1.0465-level since prior to January of 2015, so well before that was when the last time we saw the market below here. So, we need to recognize the fact that we are pushing through a significant support level. Let’s go ahead and zoom it in here on the daily timeframe now that we see that, and take a look. We are currently underneath that yellow zone and the 1.0465-level. We spoke about this yesterday in the Trade Room. That if it rallied into the yellow zone, it became a selling or going short opportunity around 1.0460 to to 1.0470. That is the bottom of the yellow-shaded area. If you did that, you’re already into some profit. I’m sitting with about 14, 15 pips of profit on a sell from the 1.0460-level. Let’s take it down to the four-hour timeframe. There’s the pattern that we were looking at. Remember from the live Trade Room yesterday, we spoke about this. Let me put a couple of circles here on the chart. We spoke about the pattern of a breakout and retest. There it is right there in the circle, where it broke out, retested, and went back down. So, that’s the pattern that we were looking for. Yesterday in the live Trade Room, I mentioned that what we’d be looking for is for the duplication of that pattern. We’d look for the breakout and the retest, and now we’re looking for the next surge in the direction of our momentum, sentiment and trend. So, we’re looking for, today, resistance at the yellow zone, targeting the blue zone. The risk on any new trades that you take is above the yellow zone, so your stop loss goes above the yellow zone. My current stop loss is about a 50-pip stop loss, but above the yellow zone is really what you want to say because you just don’t want it to get back above there. You want it to stay underneath that yellow zone. So, selling the yellow zone, targeting the blue zone. Risk is above the yellow zone. That’s pretty much it for the EURUSD today. https://www.youtube.com/watch?v=s9dg8ms5rQs Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.