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12 May 2012

May 12th, 2012 – FX Weekly Analysis

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Posted in Analysis, Forex | Leave a comment

Hello Everyone!

Sorry for the delay, I had a family emergency this morning. Just finished dealing with it now, so here’s this week’s FX Weekly Analysis. Overall, I’m pretty happy about last week, I especially like the projected directionality that I drew last week, they all pretty much went in the direction of the forecast (i.e., the conditions never came into play). This week may or may not be as simple because we’re coming up on “crosses” of trendlines and S/R lines. These crosses are kind of like breaking points (assuming I drew them right) because they’re the blend of both up and downward trendlines and whichever line is stronger determines the directionality. Anyways, enough of that, onto the analysis!

Monthly Charts

Weekly Charts

Daily Charts

H4 Charts

Commentary / Technical Forecasts:

USD/CAD [Long (C)]: The daily downward trendline stretching back to late November 2011 was broken this week. Question is what will happen at the monthly downward trendlines coming up soon. There are two of them, 1 from 2005 and 1 from 2009. Lately, price has been paying attention to the 2009 line more, which is also the first line that price will hit when it gets there. These are the upcoming conditions in play along with the weekly resistance coming up as well since we haven’t broken out of this consolidation range in a long time. Otherwise, breaking the daily trendline should provide plenty of momentum for more upward action. Also, we’ve been consolidating on the way up (with the help of news), so that’s definitely healthy as well, it’s not just consecutive color candles like the other pairs.

AUD/USD [Short (C)]: Since this already broke the monthly trendline last week, this week was projected to keep going down to meet the daily support levels below or weekly trendlines. This happened and based on Friday’s close, both the daily support and weekly trendline have been broken. The conditions in play for more downward movement are based on the multiple weekly trendlines in play and the lower daily supports. But given the monthly trendline was broken last week, with this continued move downwards, this represents a lot of downward momentum. There’s a big cross of weekly trendlines coming up, 1 downward and 2 upward trendlines are about to cross. This might totally be ignored like it was on USD/CAD’s chart or it’ll be used as an indicator for more downward pressure to come.

EUR/USD [Short (C)]: After bouncing off the daily trendline last week, I projected it would go down to the H4 support to bounce or break. This week it ends up breaking the support finally and thus, the break down of the descending triangle has begun! Plus there’s the overall daily downward channel in play as well, so this was eventually going to drop down anyways unless the daily channel broke which it didn’t. Aside from this, if you look on the weekly chart, there’s a weekly trendline coming up (check May 5th, 2012 FX Weekly Analysis for the details of why this line was drawn). I didn’t show it on the H4 chart but it’s coming up shortly, this is the condition in play here because if this is broken, the only big support coming up is monthly support level of 1.2600. Breaking this weekly trendline would be huge because it means more downward pressure to come and since EUR/USD is the leading FX pair, it’s movement will be correlated with the other pairs as well.

GBP/USD [Short (C)]: After drawing the daily trendline last week, I projected consolidation as my forecast because it just has to happen in order to be a healthy run. This happened, it did go down this week but not by much, there’s still plenty of room to go until it reaches the daily upward trendline. The question is what happens at the daily trendline? Will this follow EUR/USD on the way down and break the trendline or will the trendline hold and this continues to move upwards. It already broke the monthly trendline a month ago, so there’s plenty of upward momentum for this to continue upwards but the bigger picture revolves around the Euro Zone which I don’t follow lol, since I don’t read news. In the event the daily trendline breaks, there’s daily support on the way down plus the monthly trendline. Since the monthly trendline acted as resistance before and broke, it should become support down if price goes back towards it. Whether or that the goes thru is left for the coming weeks to forecasts….

Until next week, Good Luck Trading!

Brian

11 May 2012

Live Trades – May 8th – 11th, 2012

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Posted in Binary Options, Live Trades | Leave a comment

Hey guys,

Since Monday, I was pretty much way more conservative but still not doing that way. I started the week off with $250, then got down to $58.15 as my lowest point and currently am sitting at $114.57. Overall a bad week, the experimental trades on Monday pretty much messed up the account which is fine because it gave me insights for new strategies and possible points to take into account for the review as posted earlier this week. Having said that, now that the BOSE ordeal is done and dealt with, I can focus entirely on trades next week and/or work on the new streaming chart service (will be posted in the morning). In the mean time, go check out my thread on Binary Options Daily, if you’re interested in this service please leave a reply in the thread. I need to gauge the demand before moving forwards with developing the service. Anyways, onto the trades that I made for the remainder of this week:

May 8th, 2012 – EUR/USD 1min chart

May 9th, 2012 – GBP/USD 1min/5min chart

May 11th, 2012 – USD/CAD 1min/5min chart

Since I’m waking at 4am everyday now (including weekends). The FX Weekly Analysis should be coming out pretty fast tomorrow morning, afterwards I’ll post more details on the potential new upcoming streaming live charts service. Check back in 6-10 hours for next week’s FX Weekly Analysis. Cheers, Brian

11 May 2012

B.O.S.E. will no longer be promoted!

Posted in Binary Options, Updates | Leave a comment

Binary Options Signal Europe Review

Last week, I posted that I would try out and use BOSE signal service due to large viewer/fan requests. So, I signed up for their trial this week, May 7th till today May 11th for a total of 5 days. IF everything went smoothly and nothing was questionable then I would be happy to continue their service as I originally stated for another 3 months. But, I fear I might wipe my account if I continue for the whole 3 months. Trials are supposed to leave the customer with a good impression.

Let me give you an example, I subscribe to the local newspapers from time to time because they offer a month free trial or some low cost for weekday deliveries. If I don’t receive the paper each morning, then something’s wrong and I won’t be happy i.e., if one day is missing. This has happened in the past, I signed up for a month and a few days I got nothing, sometimes even a whole week nothing delivered. They would call me after the month is over and ask how the paper was or if I wanted to subscribe for a year. My reply: “You owe me a week’s worth of paper, if you can’t even deliver it during a trial, what makes you think I want to subscribe for a year!?”

Same shit applies here, I will post my charts below for each day of this week’s trial. I went into this experiment to test quality of service, I’m not worried about accuracy or win ratios. As a seasoned trader, I know there will be bad times in the markets, like this week I’m down but it’s ok, that’s just how the markets work. So, I’m not directly questioning their claimed accuracy, this post is to point out their flaws of signal delivery and validity of their signal results. Thus, based on these accusations, their claimed accuracy is being indirectly questioned.

PS: As the title implies, BOSE will no longer be promoted. The youtube video from the Lazy Trader series is gone and the banners on the site are all gone. Let’s get on with the chart examples.

Legend for all the charts:

  • These are all 1 minute charts
  • First vertical line = time I received the email
  • Second vertical line = time the binary option expired (note, they’re all on :29 because candles are opened on that minute and thus close at :30)
  • Red horizontal line = closing price of candle at time of signal delivery
  • Blue horizontal line = target signal price (it’s blue for me, but might show up as purple for you?)
  • Black horizontal line = closing price of candle at time of expiry

Their signal instructions are always stated as “AT or ABOVE/BELOW the Price” for an entry for Put/Call respectively. Thus, please pay attention to the blue and black lines since these are most important, if price never reaches the blue line this is considered “no entry”.

  • Check marks are for a match of chart and BOSE results of ITM.
  • X’s are for a match of chart and BOSE results of OTM.
  • Question marks are for the no entries, i.e., different results comparing chart and BOSE results.
  • “Me” is pretty obvious, that’s if the result/comment from my own entry.

Summary:

  • Checks: 4
  • X’s: 5
  • ?’s: 6

Again, I don’t give a shit about their results, what I care about is honesty and quality of service. Judging by the number of question marks above, that’s just bad service. From talking with other people who tried out their service, the problem lies with the “delay of the signal”. I understand from a seller’s point of view, they want to make their signals look good. I know tons of stocks newsletters that do this, rather than compare opening price and closing price, they compare today’s close to yesterday’s close despite there being gap up today. The same can be said about BOSE here and I understand why. However, doing this makes me question the validity of their results and hence, overall signal accuracy.

On a closing note, the trial was $7, my account balance is sitting at $517.25. So, my net is $10.25 although it should be more if I won more if I had entered the trades on Thursday. Oh well, so it’s not like I lost money or didn’t make as much. I don’t care much for the money, this whole post was made to expose their honesty/validity of the results.

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