EURGBP Trade Idea for Week-52 (2015)

On daily chart below, we can clearly see that this pair is trending up. The price are testing the resistant at 61.8% a week previously and manage to break it after 5 days continuous attempts.

So, here is my trading plan:

• I trade with the trend, and the trend is bullish - price will go up.
• Wait until the price draw near to the trend line - it's pretty close as the candle turn red.
• Buy at 0.7331 (because I'm using 1:200 leverage, with 10000 capital, I bought 5 standard lot).
• Take profit at 0.7442 (approximately above 0.7420 but stay away from 100% on Fibonacci line.
• Stop loss at 0.7258 just above 50% of Fibonacci retracement line.

There I go, we will see what happen in the next 10 days. I will update the status of this trade if necessary. By the way, market will close on 25 December, 2015 for Christmas Day. Merry Christmas to all.

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USDJPY 30M Chart - Common Mistake

Based on the above chart, top tail was formed at 123.56 after a big bull candle and bottom tail was formed at 121.66 after a tiny bull candle. Without proper experiences and tools, it feels like we are at the bottom of the market. Usually, under situation like this, most traders hoping for a huge rally (prices going up). However, in FOREX market, we are not suppose to jump into the market without proper analysis.

So, I draw a Fibonacci retracement that connect top tail and bottom tail (which you can see in the picture above). Greedy traders (like me, unfortunately) hoping for a huge profit and jump to buy it without proper analysis. One more thing, I have no patient to wait for the next candle to confirm the trade. If the price move below 0.0% or 121.66, DO NOT open any trade due to high level of uncertainty.

We can clearly see what happen next. The price move below 0.0% or 121.66 which violates the trading rules and push the price even lower. Clearly, 0.00% or 121.66 is not the bottom of the market.

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Instaforex Daily Trade Idea - USD/CHF

In this trade, blue line means 20 MA (Moving Average) and white line represent 5 MA. If you don't know about moving average yet, please check it out, there are many free stuffs about moving average over the net. Now, why choose 5 and 20? It's because FOREX market open 5 days a week, so that's mean 20 days a month. Let's look at the picture below:

I assume you already know about bottom tail, top tail and trend line. In the above picture, A is the top tail and B is the bottom tail. The formation of moving average line pattern at C and D are somehow identical, so it tell us that this pair will go up if it manage to break the resistant line (aqua color).

Consider the situation above, here is my trade idea:

Take profit at 1.0120 --> 278pips
Buy at 0.9842
Stop loss at 0.9810 --> 57pips

P/s: Original stop loss are set to 57pips and moved to 32pips accordingly. Entry at 0.9842 are very risky due to unconfirmed trend reversal.

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How to Withdraw USD100 From Instaforex No Deposit Bonus?

Remember when I told that INSTAFOREX give away free USD100 No Deposit Bonus for every new client who passed the second level verification? Please take note that a client cannot withdraw that bonus unless profits grow 20% and above. For example, a client manage to make profits of USD25 from the bonus of USD100. So, that client manage to get (25/100)*100 = 25% profits. In that case, that client entitle to withdraw USD5 from their live trading account.

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Properties of Instaforex Broker

One good thing about INSTAFOREX broker is that they give away FREE deposit of USD100 for LIVE trading account. So, theoretically, anyone can start to trade without any investment. How true is that?

• Yes, that's absolutely right. No tedious deposit arrangement.
• It's mean, you have to choose your leverage wisely if you don't want to lose that money.
• However, you're not allow to withdraw the bonus before you qualify for certain conditions as described in the contract.

So, I advice newbies to set 1:200 as leverage for that FREE USD100 no deposit bonus to LIVE trading account. Please be reminded to install MetaTrader4 trading platform (it's a software) that can be downloaded from INSTAFOREX website before you can trade. However, this is optional because client can trade via web trading, but I prefer MetaTrader4 to trade.

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