Bitcoin analysis for October 15, 2018


Trading recommendations:

According to the 4H time – frame, I found that Bitcoin has been trading upwards. As I expected, the price tested the level of $6.719 and reached my second target from Friday at $6.496. So far, I have found the market started to balance and I have found a balance high at $6.718 and a balance low at the price of $6.157. My advice is to have patience to wait for a breakout out of balance to confirm a further direction.


$6.718 – Intraday resistance

$6.157– Intraday support

With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.

The material has been provided by InstaForex Company –

GBP/JPY analysis for October 15, 2018


Recently, the GBP/JPY pair has been trading downwards. As I expected, the price tested the level of 146.50. According to the H1 time – frame, I found a fake breakout of the 15-day low at the price of 146.93, which is a sign that potentially the sellers might got trapped. My advice is to watch for buying opportunities. The upward take profit level is set at the price of 148.95.

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company –

Fundamental Analysis of EUR/USD for October 15, 2018

EUR/USD is currently quite impulsive with the bullish gains after impulsive bearish pressure recently from 1.1600 area with a daily close. While USD is struggling amid worse-than-expected economic reports, EUR gained momentum without any macroeconomic …

EUR/USD analysis for October 15, 2018


Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1610. According to the H1 time – frame, I found the breakout of the bullish flag pattern in the background, which is a sign that buyers are in control. The price rejected from the Fibonacci retracement 38.2% at the price of 1.1542, this is another sign of the strength. My advice is to watch for buying opportunities. The upward take profit levels are set at the price of 1.1637 and at the price of 1.1705.

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company –

Technical analysis of AUD/USD for October 15, 2018

Overview: Pivot: 0.7107The AUD/USD pair faced resistance at the level of 0.7146, while minor resistance is seen at 0.7107. Support is found at the levels of 0.7043 and 0.6980. Also, it should be noted that a daily pivot point has already set at the l…

Technical analysis of EUR/USD for October 15, 2018

Overview:The EUR/USD pair continues to rise from the level of 1.1500 in the long term. It should be noted that the support is established at the level of 1.1497 which represents the 38.2% Fibonacci retracement level on the H4 chart. The price is like…

10 Ways to Stick to a Budget

Most adults tend to learn their good or bad savings/spending habits by observing their parents, friends or from their own childhood experiences. As a result, these experiences often dictate how they will either emotionally, or strategically, manage their own relationship with money. Will they be confident, fearful, frugal or thrifty?

When one has an unhealthy emotional relationship with money, budgeting for their savings and spending can often feel like going to the Dentist or the Gym; NOT FUN! If this sounds like you, it is imperative that you get out of your negative comfort zone and begin developing a normal and healthy ‘strategic’ relationship with money.

These 10 Tips Will Help You Stick to Your Budget:

Learn to follow a budget.

  1. Accept Responsibility – No one other than yourself got you into your current negative financial situation. To solve your financial problems, you will need to make real efforts to get out of your own negative comfort zone. This challenge involves doing the necessary work to improve your financial situations, or even better, understand how to avoid financial problems altogether.
  2. Protecting Yourself from Yourself – If you are someone who suffers from what I like to call financial obesity; one’s obsessive and self-sabotaging need to constantly overspend and remain financially unhealthy, I would suggest the following: stop using credit cards and only use cash. Credit cards make it too easy to make negative emotional spending decisions, which not only leads to unnecessary debt, but possibly hefty late fees and interest rate fees. If you must use credit cards, only use secured credit cards with low spending limits ($300).
  3. Spend Wisely – It’s amazing how lazy folks are when it comes to spending wisely. The internet has made it easy for you to do your research and competitively shop around. With this in mind, consider cutting out, reducing or substitute expensive bad habits such as drinking and smoking and put your beer/cigarette money toward paying down your other expenses. Think up creative ways you can replace or reduce your bad spending habits and you will see your expenses come down.
  4. Living within Your Financial Means – If you are constantly looking for quarters in the cushions of your sofa; you have a problem! The only way you are going to get yourself to stick to a budget and live within your financial means is by making this process easy. There are several websites/apps such as by Intuit that will allow you to budget and track expenses online without much effort. Not only will you be able to finally pinpoint the true origin of your negative financial spending, but you will also come to the realization through budgeting that your debt is not so much a shortage of income, but rather a lack of awareness in terms of where your income is going.
  5. Learn to Pay Yourself First – Most people are so busy taking care of others, or their jobs that they completely neglect themselves; both emotionally and financially. As part of your new commitment toward improving your overall financial life, make sure you commit to putting aside at least 10% of your income into a savings or money market account. Make this part of your on-going budget strategy, and each time you make a deposit, take yourself out for ice cream. Create a positive association for sticking to your budget.
  6. Setting the Proper Expectations – It did not take you a week to get financially obese, so don’t expect to repair your financial life in a week either. Motivational speaker, Zig Ziglar was absolutely correct when he said, ‘You don’t have to be great to start, but you have to start to be great.’ The main reason why so many people seem to fail and never achieve their financial goals is that they either lack the necessary information that provides the important ingredients and tools to succeed, or they simply succumb to their fears and never make any real efforts to ever get out of their own way. Change your mindset and you will change your life.
  7. Access Free Financial EducationSetting Priorities and goals – The most important step toward achieving any goal is to TAKE ACTION! Nothing kills a goal or desire faster than caving in to your own, or to others’, fears and negativity. As you begin to embark on your new financial future, I would like to suggest the following when it comes to your budget:
    • Prioritize your financial goals (Decide where you want to begin)
    • Plan your actions (what changes will you choose to make to help you live within your financial means)
    • Implement your plans (Take Action on your plans!)
    • Evaluate your actions and desired outcomes (review your budget and expenses weekly/monthly so you can continue to modify and see the results you desire)
  8. For example, choose to organize your credit card debt by highest interest rates to lowest, and pay off as much as you can on the highest interest bearing credit card each month. Continue paying the minimum balance on the others until you have paid off the first card. Next, choose the next highest interest card to pay off. You will be amazed how much you could put toward your own savings account by reducing the high interest fees each month.
  9. Learn from Your Mistakes – As young adults, many of us were taught to conform and stop challenging the norm. As a result we developed a fear of mistakes, or we just became programmed to avoid them altogether. However, mistakes help people foster new and creative ways to overcome or circumvent prior negative experiences in order to find new or improved ways to produce their desired outcomes (without letting fear get the best of them). I hope this revelation, as my mother used to say, falling into the same hole, will wake you up to the fact that you need to start reexamining your overall financial decision-making process.
  10. Find a coach or partner – Don’t be afraid to share the budgeting responsibilities. Make sure you are not the only person in your household concerned about your budget. Sit down with your loved ones or significant other and decide how you will work together toward sharing the responsibility for the household budget. One person should not have to shoulder the entire financial burden alone. You will be amazed how quickly things will change if everyone agrees to simply cut back on their spending and help manage the budget.
  11. Stay Committed – Unlike dieting, budgeting needs to be something you continue to commit to for the rest of your life. Once you commit to taking complete financial ownership of your life, you will empower yourself to stop making excuses, stop blaming others for your own bad financial decisions and you will finally own your personal financial choices and actions. As American author and management expert, Kenneth Blachard says, ‘There is a difference between interest and commitment. When you’re interested in doing something, you do it only when it’s convenient. When you’re COMMITED to something, you accept no excuses; only results.’

Read Full Article

Keep Calm and Trade On

When we are putting our money at risk in the financial markets it is easy to get nervous and excited. These common emotions can wreak havoc on our trading accounts if not put into check. I was reminded of this while teaching an Extended Learning Track course online recently and thought of the huge benefits of trading with a community of traders rather than alone.

In the class, we set up an intraday trade in the S&P 500 E-Mini futures.  According to the trading plan, I calmly analyzed the trend and the locations of the supply and demand zones.  I then evaluated the zones to see if there was a high-quality trading opportunity.  Once I decided to take the trade, I planned out the exact entry, target and stop levels.  I even talked the students through the strategies I would use for protecting profits by moving the stop to breakeven and also trailing.  Finally, I set the orders into the computer and watched as my trade played out.

The comment that stood out the most to me was when a student said, ‘It is so calming trading with you.’

Trading, when done correctly, should be a boring, methodical process.  Fear and other emotions arise from the unknown.  By planning your trades and executing the trade according to that plan, you should have nothing to fear as you already know the maximum amount of loss you could receive and even the potential gains from the trade.

Trading with others who share the same goals can help you be disciplined and accountable.

Many newer traders are not as confident in their trading abilities.  They may have mixed results in picking quality supply or demand as they gain experience.  Another reason why some students have problems with fear is improper planning for their trades.  So, what is the solution for this problem?  Trading in a group environment is a great way to get these fears under control while you hone your trading skills.

The Extended Learning Tracks (XLT) offer traders the ability to view professional traders employing the same tactics that they also use.  The added benefit of the XLT is that you are trading with many other students who are experiencing the same issues and successes you are also enjoying.  This becomes a support group and can greatly reduce the apprehension you feel while trading in isolation.

Free Trading WorkshopPeople often ask me why is it that I teach trading when I can obviously make a living just trading for myself.  While it is true that there is a great feeling that comes from helping students become successful traders and achieve their goals, that is not my only motivator.  I also need the accountability of others trading with me to maintain my own personal discipline in trading.

It is easy to stray from the path to trading success and become impulsive.  Impulsive trading: not planning trades, chasing price, using mental stops, is a road to trading ruin.  Even when I am not trading in front of students, I still ask myself, ‘Would I want my students to see this trade?’

To keep yourself in check, you can ask yourself on every trade, ‘Would I want to share this trade with my instructor or fellow traders?’  In fact, you can even share your trades to get input on your progress.  The XLT programs also feature special Student Trade Review days where the instructor and class examine other students’ trades and help each other learn what to do and what to avoid in trading.

Calm down!  Relax and plan your trades. Join a community to trade with a peer group instead of alone.  You may just find the calming effect therapeutic for yourself.

Read Full Article

Technical analysis of Gold for October 15, 2018

Gold price remains in a short-term bullish trend. After the break out above the trading range its been in for the last couple of months, Gold price consolidated above $1,215 and is now trying to break to new short-term highs.Green lines – long-term bea…

Technical analysis of EUR/USD for October 15, 2018

EUR/USD is showing reversal signs in the 4-hour chart. Price has reversed to the upside from 1.1432 and is now trading above short-term resistance (now support) at 1.1530. Green dots – medium strength supportDark green dots – maximum strength supportEU…

Trading plan for 15/10/2018

On Monday, the 15th of October, the event calendar is light in important data releases, but the global investors should pay attention to the data from the US in form of Retail Sales, NY Fed Empire State manufacturing Index and Federal Budget Balance. O…

Bitcoin analysis for 15/10/2018

Christie’s auction house announced the introduction of a system of registration of artistic transactions on Blockchain. The decision is only the latest example of how technology is used in the world of art. The company plans to sell many large works of…

Elliott wave analysis of EUR/NZD for October 15, 2018

EUR/NZD has made a new corrective low at 1.7704, which indicates a more complex correction in blue wave ii is developing towards support at 1.7649 from where a new impulsive rally towards 1.8030 and 1.8369 is expected. Only a break above 1.7842 will in…

Elliott wave analysis of EUR/JPY for October 15, 2018

Short-term important resistance at 130.51 rejected Friday’s attempt to break above this pivot point. The clear loss of downside momentum (positive divergence on the RSI) calls for a corrective low and a new impulsive rally soon. The only question is wh…

BITCOIN Analysis for October 12, 2018

Bitcoin is still correcting below $6,500 amid certain bullish pressure, trying the push the price higher in the process. The price is being held by dynamic levels like 20 EMA, Tenkan and Kijun line as support. The Chikou Span is already closing above t…

Fundamental Analysis of EUR/AUD for October 12, 2018

EUR/AUD has been quite bearish and volatile after rejecting off the 1.6350 area with a daily close recently. Despite upbeat economic reports from the eurozone, the EUR struggle indicates its waning strength over AUD that is expected to lead to further …

AUD/USD analysis for October 12, 2018


Recently, the AUD/USD pair has been trading upwards. The price tested the level of 0.7133. According to the H1 time – frame, I found a breakout of the intraday ascending triangle in the background, which is a sign that buyers are in control. My advice is to watch for buying opportunities. The upward take profit level is set at the price of 0.7183 (Fibonacci expansion 161.8%).

The material has been provided by InstaForex Company –

Analysis of Gold for October 12, 2018


Recently, Gold has been trading upwards with the strong momentum. The price tested the level of $1,225.90. According to the H1 time – frame, I found the breakout of the 30-day bullish flag (bullish pattern) in the background, which is a sign that buyers are in control. I also found the end of the downward correction (regular flat), which is a strong sign of strength. Most recently, I have found a breakout of the intraday bullish flag, which is a good sign to establish long positions. The upward take profit levels are set at the price of $1,233.85 and at the price of $1,266.00.

The material has been provided by InstaForex Company –

Fundamental Analysis of EUR/GBP for October 12, 2018

EUR/GBP has been quite impulsive and non-volatile amid the recent bearish bias which led the price to reside below 0.8850 with a daily close. GBP has been dominating EUR for a certain period which came to a strong counter after the worse reports of GBP…