Peter Marsden's Forex Blog

Any long term investment strategy should ideally consist of multiple smaller strategies contained within a larger overall strategy. Excess volatility can lead to quick gains and substantial losses to your portfolio of currency pair positions. Long term forex investors look for areas of support/resistance, fib levels (with extensions), larger moving averages, and prior swing highs/lows […]

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The weekly chart is very bearish. March is correctional month annually. The green 22 sma is acting as support for now. If broken, we will see the red horizontal trendline at .8876 area, or the white weekly trendline bottom at the 38 fib (.8800 area).

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4 hour chart shows a lower low.  It is retracing, testing the 5 sma high area, where it got rejected. This pair will test the highs and lows during a consolidation period, until it breaks out. Stand aside because it can go either direction. We need a candle close above 5 sma on daily to confirm […]

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The daily chart which closed march 12, 2008 shows a panic sell-off from Negative Market sentiment, and annual JPY repatriation. This is the 3rd week of March, so expect more downside. Look for buying opportunites at the bottom. Those who are more risk tolerant can scalp it to the downside. Trade at your own risk […]

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The daily chart for aud/usd shows a retrace occuring. Look to buy it at the bottom of the channel/trendline for another test of the upper trendline resistance. Rejection with confirmation gives us a low risk/high reward. I see +200 pips to + 500 pips possible.

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Here is a weekly chart of the aud/usd. 
A long position in this pair will pay you daily interest. The interest rate that you recieve depends on your broker. The rate for AUD is 7.50%. The rate for USD is 3.00%, and going lower, most likely. The weekly chart clearly shows a strong uptrend. Some analysts […]

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Take the daily candle from the previous day and add the sum of the high, the low, and the close. Divide this sum by 3. The answer will give you a quick daily pivot. This formula can be used on any candle of any time frame to estimate current pivot points.
Adding up the sum of […]

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One very important lesson to be learned in forex is that the month of March is time for Yen repatriation back to their home currency. The fiscal year accounting process in Japan determines this, and the majority of repatriation is done in the first 3 weeks of March.
Plan for it, and exploit it. Downmoves in Yen […]

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I think all newbies in the first year of trading should reduce their lot size substantially. For example, if all you have to trade is one lot, and you use all of it for one position, you are at great risk. Forex is all about pips, not dollars.
For that same one lot size, you could […]

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It is very interesting to see who is the new richest man in the world for 2008. Warren Buffet. The world’s most successful investor. His investments have netted him an average of 24% for over 40 years!

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