Jan 17

Focus on Natural Gas

The following video explains about natural gas future:

http://www.bloomberg.com/video/natural-gas-could-test-lows-on-warm-weather-shover-HvSyQlEaQj6xi5P~6XkAxQ.htmlngas-feb14dailyNatural gas moves a bit slow but with seasonality. It appears that it has reached the peak of this season and would go low as the weather warms up in the North America.

Jan 17

AUDNZD Analysis

audnzd-d1-ironfx-financial-services-3

I have made this analysis two days back for AUDNZD (Day chart, see above).

Where we can see

– double bottom

– pin bar reversal

– strong support

Now, it looks like after testing one time it breaks the support and goes down even more. Please see the below today’s chart.

audnzd-d1-ironfx-financial-services-4

The AUDNZD is in its all time low price level in the last 20 years! Monthly and weekly chart can confirm this (see below). It may be rational considering the struggling AUD for the last one year (any comments here?).

audnzd-mn1-ironfx-financial-services-5

Eventually, it leaves a great room to play. Previously, It took around 6 to 18 months  to jump back to the average level. So, if the price bounces back from the bottom support, it could be a long term trade for buy.

I would say, 1.074 level could be the 1st TP, and 1.159 level the 2nd. (Fig below).

audnzd-d1-ironfx-financial-services-7

Please share your comments with us.

 

Jan 16

How about Going Short at Gold?

goldweekly

 

golddaily

 

Currently, Gold is at downtrend. It appears to form double-top. It may touch 23.8% fib level. If it goes further below, the price may reach at 1188 level. In the weekly chart a pin bar is forming. May be it should be watched for another week. Short entry near 1250~1260 zone looks good?  I’m adding forecast from marketwatch.com

Jan 15

NZDUSD quick update

  • What do you think about this trade? I am expecting comments from every members from their own point of view.
  • The NZDUSD has been swinging between the upper and lower boundaries of a large trading range since about the start of September 2013. Yesterday, price reached the upper boundary and key resistance of the range near 0.8410 and rejected this resistance, forming a pin bar sell signal in the process. This key resistance is also an “event area”. Recently we saw some pin bars sell signals that formed here, which led to large moves lower in the ensuing days. We may see price sell off from today’s pin bar and move back down toward the key support zone of this trading range, if price stays contained under the pin bar’s high.
  • NZDUSDD1Drawback: Price is currently in strong bull move.

Jan 14

USD/SGD Overview

  • If we take a look in weekly chart of USDSGD pair, we can see an Elliot wave is forming. Leg 1 is completed, leg 2 retraced back to near 38.2 fib level and now moving upwards. There is a strong possibility to create the leg 3, which may go at least 127.2 fib level. Therefore, from longer time frame I am biased towards north.

USDSGDW1

  • In daily chart, we can see that price is in upper side of 200 EMA. Moreover, 100 EMA and 50 EMA suggesting a strong upper trend. Currently, price is bouncing near 21 EMA. We can see a support zone as indicated in the figure. I’ve also drawn a upper trend line. If price come back near the support zone (near the gray box). It will be confluence by upper trend line and also by the dynamic support zone between 50 & 100 EMA. I will look for price action buy signal near the orange box that I drew in the figure.

USDSGDDMA

  • My 1st profit target will be around 1.2735 level. 2nd will be around 1.2858. If trade goes in my favor I’ll keep one position open till 1.3050 level. My stop loss will be below the orange box which is also supported by 50 Fib level. We can get at least 1:3 risk reward ration for 1st profit target.

USDSGDD1Please feel free to add your views.

Jan 13

USD/CHF

13-Jan-2014 10:00 : Buy USD/CHF@0.901; tp 0.9120 (+110 pip); sl 0.8920 (-90 pip). Justification: S/R, Fibo 38.2%, supported by a previous UTL (4H).
Execution plan: Limit by two trades 25K each. One with the above values while the second as per the enclosed chart.
USDCHF

Jan 09

Announcement

It is time for i-ONE group meeting! The meeting is open to all i-ONE members. The meeting will be on 11th January 2014 (Saturday) at 0400 (GMT) via Skype. Our chief trader will be the chair for this meeting. We will discuss several agenda as given below.

  • Agenda 1: Introduction
  • Agenda 2: Scope of investment
  • Agenda 3: Work distribution
  • Agenda 4: Feedback and suggestions

Official Skype name: bdfxgroup

If you have any questions or suggestions, please let us know.

Hope to see you at the meeting!

These are the corresponding times for your meeting:

 

Location

Local time

Time zone

UTC offset

Doha (Qatar) Saturday, January 11, 2014 at 7:00:00 AM AST UTC+3 hours
Seattle (U.S.A. – Washington) Friday, January 10, 2014 at 8:00:00 PM PST UTC-8 hours
Dhaka (Bangladesh) Saturday, January 11, 2014 at 10:00:00 AM BST UTC+6 hours
Melbourne (Australia – Victoria) Saturday, January 11, 2014 at 3:00:00 PM AEDT UTC+11 hours
Davis (U.S.A. – California) Friday, January 10, 2014 at 8:00:00 PM PST UTC-8 hours
Corresponding UTC (GMT) Saturday, January 11, 2014 at 04:00:00    

 

Jan 07

SGD/JPY

Sell SGD/JPY@82; tp 75.5000 (+650 pip); sl 84.5000 (-250 pip).

Justification:

Doji followed by bearish engulfing at the top of the range in the weekly chart. Appears to be double top. Divergence in volume. The trade will be confirmed if the weekly candlestick closes below 82.00. Favorable r/r. Stop loss is set above all time high (83.35) +115 pips i.e. @84.50. Risk: a. Counter trend trade, b. unclear fundamentals of the two economics.

Execution plan:

Keep an eye on the weekly close If it closes below 82.00 AND does not go above 83.35 before the week end, set two limit orders (0. 5 lot each). First tp=75.50, second tp=67.00. Expected duration of this trade will be = 6months-1 year. If price goes above all time high (83.35) after the orders have been filled, look for early exit opportunities based on daily candlestick pattern.

sgdjpyweekly

 

Jan 07

The Crisis of Credit Visualized

Jan 05

i-ONE

Forex by BengalisWe are launching our investment arm i-ONE. The fund will be invested in FOREX. Besides, it may be invested in REAL ESTATE, COMMODITIES, and STOCK globally. This is inline with money management principles  that is, diversification of investment. The synergy originating from location and status of the investors are envisaged to be utilized. i-ONE comprises a few trustworthy people who constantly strive to learn and contribute through their valuable inputs.

 
 
 
Basic information:

  • We start from February, 2014.
  • Base currency is US dollar (USD); for internal currency conversion xe.com ‘s mid price is applicable.
  • 95% of the profit will be disbursed to participants proportionately. The rest 5% goes to charity of which 2.5% to Jakat for Muslims participants. The fund can be withdrawn after a year. Any early withdrawal will require a month’s of notice to close open positions (if any). Naturally the withdrawer will bear the associated costs.
  • Investment strategies are confidential therefore, can not be shared with any other person or entities.
  • Any other investment idea/plan by the members in any other country or sector is welcome. We will evaluate the feasibility of that investment. Actually, the synergy originating from location and status of the investors are envisaged to be utilized. Therefore, investors are encouraged to bring in any potential trade idea at any place for any tradable object. All profits originating from using the fund is credited to the fund and shared proportionately. The idea is to keep an open eye and utilize opportunities that we find on the way.
  • The fund performance can be accessed online by the investors.

Investment plan in FOREX:

  1.  We shall target 2000 pips/year, buy 0.5 standard lots for every 10K of equity. This will translate to 12K/year/10K of investment, i.e., ~1K per month. Considering the amount of efforts required to profit in forex trading, any less return per month is not so attractive. Of course this also implies that we are risking 10K.
  2. A yearly total expenses of 3K is envisaged to subscribe to information such as Thomson Reuters et al. This will be proportionately borne by all participants.
  3. Chief Trader  will take care of the fund, trading, and any related matters preferably with inputs from the participants. This is a voluntary service committed for one year only.

List of investors:

Not public.

 FOREX market is very risky. Do not invest blindly in FOREX. You should invest that amount of money which you effort to lose. DO NOT take it as GAMBLING; consider it as a business in professional way.

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