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Today in forex trading the GBP/NZD signaled a sell on The Forex Heatmap® in the main session. The British Pound (GBP) was weak on all pairs, driving good short term price movement on these pairs. The Australian Dollar (AUD) and New Zealand Dollar (NZD) also had some strength today, this caused the GBP/AUD and GBP/NZD to drop. The GBP/AUD dropped, however this pair is inside of a cluster/range so we wold scale out lots on any sells. The GBP/NZD also dropped and this pair should continue trending lower to the next support area at approximately the 1.9650. The live signal system you see below is The Forex Heatmap®, which provides live trading signals for 28 pairs.

Live Forex Signals GBP/NZD Sell 8-13-2014

A profitable forex strategy that leads to successful trading is possible for any forex trader, using the guidelines shown in this article. Trading the forex market profitably can be accomplished by knowing what time of day to trade, having a set of accurate signals that are easy to interpret, and reading the trading signals correctly. Determining if the market is trending or ranging is also beneficial. Follow the guidelines and steps listed below to ensure that you have a profitable forex strategy that leads to much better trader.

When To Trade The Market

The best time to trade the currency market is in a 4 to 5 window of time just before the opening of the New York Stock Exchange. This is when forex trading activity is highest and you see strongest movement cycles. The currency pairs have longer movement cycles during this time. We refer to this as the main session. It is also possible to trade in the Asian session using the techniques in this article, but you should wait until you have one year experience before attempting to do this, due to lower volatility and shorter movement cycles. Executing trades in the Asian session in addition to the main session will naturally give you more pips and more profitable forex trading, especially if you trade many pairs.

Reading The Trading Signals

If you read your trading signals properly you can enter buys or sells in the main session and start to bring pips into your account. This is true for intra-day trades, or trade entries into the existing trends. One of the best signaling systems available is The Forex Heatmap®. Most forex traders only trade the EUR/USD. If a trader wants to buy the EUR/USD you can look for EUR strength across the board on the heatmap, like the example below, a strong 1.71% movement on this day.

Profitable Forex Strategy – Trading Signals

Most EUR/USD traders really need a signaling system like this. The good news is that the heatmap works to provide buy and sell signals on 28 pairs, not just the EUR/USD. So naturally your high quality trade opportunities and profits trading the forex market will increase quite a bit with a signaling system like this, due to having many more trading opportunities.

Trading Larger Trends

Trading in the direction of the major trends of the forex market will always be part of any profitable forex strategy, and naturally make successful forex trading a reality. All you have to have is a simple set of exponential moving averages to check the trends, then focus your trades in the direction of the higher time frames, H4 and larger. This way if you enter a trade and are going in the direction of the trend, you have a chance for additional profits tomorrow and the day after that as the trend continues.

Profitable Forex Strategy – Larger Trends

Profitable Forex Strategy For Trading Ranging Pairs

When the forex market is not trending, it is ranging. Ranging pairs are pairs that are cycling up and down inside of support and resistance. If you would like to trade pairs that are ranging, just make sure that they are ranging up and down in at least a 100 pip range so your money management and risk/reward ratio is solid. All trades carry risk so the potential reward must be fairly large. You can check the moving averages for the amounts of the ranges. Make sure the pairs you range trade are ranging on the H1 time frame or larger.

Economic News Calendar

Another component of a profitable forex strategy would be to know when the news drivers are, related to the pair you are trading. For example if you are trading the USD/JPY you would want to know when all of the strong economic news drivers were scheduled for the USD or JPY currencies. There are many economic news calendars available on the web, here is a handy world economic news calendar we like on our website. It shows the news drivers for all eight currencies we trade, along with other currencies too.

Risk Reward Ratio

Before entering any forex trades, forex traders should also know the risk reward ratio of every trade they enter. This ratio can be calculated in advance so you can decide yes or no well ahead of seeing any buy or sell signals for that pair. Example: A trader is considering buying the AUD/USD, when it breaks the short term resistance, the next resistance major  is 120 pips away form the breakout point. If you buy the pair and open the trade with a 30 pips stop, then 125/30 is 4 to 1 positive money management ratio. This is a great ratio because even with only 50% accuracy you can grow your trading account at a very high rate with ratios like this. You risk 30 pips with 120 pips of profit potential.

Today in forex trading The Forex Heatmap® signaled a sell on the CAD/CHF. The Canadian Dollar (CAD) was weak on all pairs. There was also some Euro (EUR) strength and Swiss Franc (CHF) strength in the market. This caused the EUR/CAD to move higher and the CAD/CHF to drop. We would scale out lots on both trades, as these movements were against the larger trends on the higher time frames.  The trade signals you see below are from The Forex Heatmap®, which provides live trade signals for 8 different currency groups and 28 pairs.

Forex Trade Signals CAD/CHF Sell 8-8-2014

Today in forex trading the AUD/NZD had a sell signal on The Forex Heatmap®. The Australian Dollar (AUD) started to weaken in the Asian session after the AUD employment report news. There was also some New Zealand Dollar (NZD) strength in the main session today, which drove this pair lower. The AUD/NZD is currently trading at the 1.0925 support level, we suggest taking some profit at this support level. The signal system you see below is The Forex Heatmap®, which is a visual map and indicator system for the forex market, it provides live buy and sell signals for 28 pairs.

AUD/NZD Sell Signal 8-7-2014

This is the chart analysis of the NZD/JPY on the D1 time frame. The trend chart below indicates that the NZD/JPY is cycling down on the D1 time frame. Current support level is at 86.25, see the two yellow lines on the right.

Traders should set an audible price alert at this support level. When the alert hits and below that price, we would look for a confirmation sell signal on this pair on The Forex Heatmap® forex heatmap. If this pair breaks lower the next target support area is around 84.75, or about 150 pips below the alert price. The charts you see below are 5/12 exponential moving averages set on the meta trader trading platform. These simple trend indicators can be set up on any forex brokerage platform.

NZD/JPY Chart Analysis

Today in forex trading The Forex Heatmap® had a buy signal on the GBP/NZD. The New Zealand Dollar (NZD) was mostly weak today in the main forex trading session. There was also consistent British Pound (GBP) strength and some US Dollar (USD) strength.  This drove the intra-day movements and pushed the GBP/NZD higher and the NZD/USD lower for trading opportunities.  The GBP/NZD is approaching one resistance leven, and the NZD/USD is approaching one support level, so traders should be scaling out lots.

GBP/NZD Buy Signal 8-5-2014

The AUD/NZD  chart below indicates that this pair could be oscillating on the H4 and D1 time frames. This pair has hit resistance and could start to cycle down on these two time frames tomorrow in the main trading session We would start to look for sell signals on this pair tomorrow using The Forex Heatmap®. The overall potential is down to the 1.0650 support area, denoted in yellow. The Forexearlywarning trading system is a trend based trading system, but sometimes currency pairs start oscillating or ranging between support and resistance, and we prepare trading plans for these pairs also. When the market is not trending, traders can use our range trading strategies for all 28 pairs. The charts you see 5/12 exponential moving averages evaluated across multiple time frames.

Forex Trading Charts AUD/NZD 7-30-2014

Today in forex trading the USD/JPY had a live trading alert on The Forex Heatmap®. The US Dollar (USD) had consistent strength and the Japanese Yen) JPY was weak on the forex market. This created good movement on the USD/JPY for intraday trading. This pair is not trending up, it is oscillating up and down day-to-day but it could continue higher for one more day before reversing back down.. The next resistance level is at 103.40 for profit taking.

USD/JPY Trading Alert 7-30-2014

The EUR/AUD is trending down on the larger time frames like the W1 time frame seen below. This pair has excellent pip potential. You can set a sell alert at the 1.4220 support level, indicated by the yellow line. When the alert hits check the signals on The Forex Heatmap® to verify the trade entry, starting tomorrow and moving forward. The EUR (Euro) is currently weak on most or all pairs we follow. These trend indicators are exponential moving averages provided to our clients by Forexearlywarning.com.

Forex Trends EUR/AUD 7-23-2014

Today in the main forex trading session the AUD/CHF had a buy signal on The Forex Heatmap®. The Swiss Franc (CHF) was weak on all pairs. The AUD was also strong and this pushed the AUD/CHF higher. This pair is trending higher on the larger time frames like the W1 time frame. So we will continue to look to prepare a more detailed trading plan for a buys on this pair tonight and tomorrow. This pair could continue up to the 0.8700 area resistance. The live trading signals you see below are from The Forex Heatmap®.

AUD/CHF Trading Signal 7-22-2014