FREE ESSENTIAL TRADER PDF'S AND MUCH MORE
On all aspects of becoming a profitable trader including features, downloads and some great FREE Trading PDF's visit our website at http://www.net-planet.org/index.html
Most forex traders like to trade the majors only but in my view you can get some great opportunities in some of the minor currencies. You can diversify and get more profit opportunties
Lets look at two that can add some diversification and have some great trends you can take advantage of.
Two good currencies to trade alongside the majors are the Canadian and Australian Dollar.
While not as liquid as the majors, they offer some great trading opportunities for traders with a longer-term outlook.
Lets look at opportunities in these currencies.
We will use the free chart service futuresource.com and look at the IMM futures contract, although same logic of course applies to the cash.
The Australian Dollar
If you look at the chart you will see that this currency has been trading in a range since December.
The same system we have used to range trade the majors works here as well.
You can simply use stochastic crossovers to trade against support and resistance until a major break appears.
At present the Australian dollar looks set to test the top of the range, if it breaks through the mid point of the Bollinger band.
The Canadian Dollar
The Canada is trending down against the dollar and has had a rally - this should end shortly.
The key to look for is a cross in stochastic momentum with bearish divergence to indicate the downtrend will resume.
Like the Yen the Canada is bearish and rallies are selling opportunities.
These currencies add some diversification to any forex trading portfolio and the Canadian Dollar in particular offers a great strong trend to the downside where you can sell rallies.
Don’t fall in love with one currency simply trade the ones that have the best opportunities and risk to reward.
At the present we would in terms of trend following have the Canadian dollar with the yen as the strongest trend to trade.
In the Canadian dollar a great short opportunity is presenting itself as it corrects oversold status.
Wait for the price momentum to turn south with the stochastic showing bearish divergence and when this occurs a test of the lows should occur.
As with any currency wait for the stochastic to give you the signal - don’t anticipate wait for confirmation.
- Related Videos
- Related Articles
- Ask / Related Q&A
- Top Currencies In Forex Trading
- Forex Trading - a Simple Method to Target 100% Gains
- An Introduction To The FOREX Trading System
- Online Forex Trading Course: Introduction to Forex Trading
- Forex Trading Course: Introduction to Online Forex Trading
- A Simple Introduction to Forex Trading
- Forex Trading - are You Gaining or Loosing?
- Tips For Good Forex Trading
Best Forex Software to Achieve Consistency Within the Forex Market
By: Sutikno Slamet | 19/12/2009Therefore, if you are thinking about adding a trading tool like this to your trading operation, I advise you go for it because no matter if you use a fully or semi automated software, both will certainly help you avoid painful mistakes and become a more profitable trader, however, go for the option that best fits your time availability and your preferences as a trader.
Best Forex Software to Achieve Consistency Within the Forex Market
By: Sutikno Slamet | 19/12/2009Therefore, if you are thinking about adding a trading tool like this to your trading operation, I advise you go for it because no matter if you use a fully or semi automated software, both will certainly help you avoid painful mistakes and become a more profitable trader, however, go for the option that best fits your time availability and your preferences as a trader.
Best Forex Software to Achieve Consistency Within the Forex Market
By: Sutikno Slamet | 19/12/2009Therefore, if you are thinking about adding a trading tool like this to your trading operation, I advise you go for it because no matter if you use a fully or semi automated software, both will certainly help you avoid painful mistakes and become a more profitable trader, however, go for the option that best fits your time availability and your preferences as a trader.
Best Forex Software to Achieve Consistency Within the Forex Market
By: Sutikno Slamet | 19/12/2009Therefore, if you are thinking about adding a trading tool like this to your trading operation, I advise you go for it because no matter if you use a fully or semi automated software, both will certainly help you avoid painful mistakes and become a more profitable trader, however, go for the option that best fits your time availability and your preferences as a trader.
Best Forex Software to Achieve Consistency Within the Forex Market
By: Sutikno Slamet | 19/12/2009Therefore, if you are thinking about adding a trading tool like this to your trading operation, I advise you go for it because no matter if you use a fully or semi automated software, both will certainly help you avoid painful mistakes and become a more profitable trader, however, go for the option that best fits your time availability and your preferences as a trader.
Best Forex Software to Achieve Consistency Within the Forex Market
By: Sutikno Slamet | 19/12/2009Therefore, if you are thinking about adding a trading tool like this to your trading operation, I advise you go for it because no matter if you use a fully or semi automated software, both will certainly help you avoid painful mistakes and become a more profitable trader, however, go for the option that best fits your time availability and your preferences as a trader.
Best Forex Software to Achieve Consistency Within the Forex Market
By: Sutikno Slamet | 19/12/2009Therefore, if you are thinking about adding a trading tool like this to your trading operation, I advise you go for it because no matter if you use a fully or semi automated software, both will certainly help you avoid painful mistakes and become a more profitable trader, however, go for the option that best fits your time availability and your preferences as a trader.
Best Forex Software to Achieve Consistency Within the Forex Market
By: Sutikno Slamet | 19/12/2009Therefore, if you are thinking about adding a trading tool like this to your trading operation, I advise you go for it because no matter if you use a fully or semi automated software, both will certainly help you avoid painful mistakes and become a more profitable trader, however, go for the option that best fits your time availability and your preferences as a trader.
Facelift Costs – the Secret of Reducing the Cost by 70% Instantly!
By: Sacha Tarkovsky | 11/08/2007 | Women's IssuesMany people would love to have a facelift ( Rhytidectomy) but cannot afford the cost of around $10 – 15,000, however informed patients are getting face lift costs reduced to as little $3,000! How are they doing it? The answer is quite simple they....
Breast Enlargement - Get a Womanly Sexy Look at a Cost That May Well Suprise You!
By: Sacha Tarkovsky | 11/08/2007 | Women's IssuesBreasts are one the major identity features of the women and all women are concerned about this area and many want a breast enlargement operation. Until now many have been put off by the cost, but the cost of breast enlargement has recently fallen dramatically in price. This article is all about getting the operation of your dreams at a cost that may well surprise you.
Liposuction Costs – Why you Should Consider India to Get the Look you Desire
By: Sacha Tarkovsky | 11/08/2007 | Women's IssuesTummy Tuck or abdominoplasty, Liposuction of fat deposits has become hugely popular as an instant way of improving physical appearance. Many patients are however put off by the high prices in Europe and the US and are traveling to India to get the same treatment at vastly reduced cost of 60% are more!
Arthritis - Cure it Now at a Cost That May Surprise You!
By: Sacha Tarkovsky | 11/08/2007 | Diseases & ConditionsArthritis is a debilitating disease that causes severe physical pain and emotional turmoil for millions of people who suffer with it. Many do nothing about it, simply because they feel the cost of joint replacement surgery is too high...
Overseas Property Investment - Choosing the Best Destinations
By: Sacha Tarkovsky | 23/07/2007 | Real EstateWhen looking at overseas property you need to first be careful in the country you pick to invest in and you also need to be careful in terms of location. Let's look at some points to consider and a great destination, recently voted one of the top ten in the world.
A Novice Forex Traders Guide to Fundamental Analysis
By: Sacha Tarkovsky | 23/07/2007 | Currency TradingIf you are new to forex trading you have access to a lot of fundamental analysis as the click of a mouse from banks brokers and news wires you can look at and trade upon it – let’s look at forex fundamental analysis and how to use it.
Primorska Property – Slovenia an Investment for Above Average Growth
By: Sacha Tarkovsky | 22/07/2007 | Real EstateSlovenia property is attracting more foreign buyers than ever before, as it has emerged as one of the worlds best investment property destinations and was recently voted as one of the top ten, with estimated growth in the next 10 years being as much as 300%!
Slovenia Houses - Why Savvy Investors are Buying
By: Sacha Tarkovsky | 22/07/2007 | Real EstateSlovenia is a country that many people are unaware of as a property investment destination however this is all about to change, as Slovenia has recently voted one of the top 10 places in the world to buy investment property and buying houses in Slovenia is "hot" and becoming more popular with overseas property investors.