Forex Daily Analysis October 26th

This Friday we will be looking at the weekly charts in order to show see what happened in the past week and also to see where we are going in the future.
I also showed how I place stops in the video and went over some of the trades I am currently in right now. Remember that you if you want instant updates please follow me on twitter.

Also keep your eyes open for an Article I will be putting out tomorrow that I think will take your trading to the next level.

The U.S. GDP was released today. Guess what? More good USD news. Read Tony’s article here.

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  • Thanks for the comment Chris, please keep coming back and if you have any questions please ask.

  • alex

    very good analysis, I personally include your trade ideas with mine before trading. Thanks for your effort to publish such a wonderful analysis for free.

  • The Hidden Stop Loss does a couple of things.

    Yes it hides from the broker.

    It also helps to avoid whip outs because you do not exit the trade until the candle closes which will allow us to avoid fakeouts.

  • You are welcome and thanks for the comments.

  • Thanks Glen.

  • You are welcome and thank you for posting your comment.

  • Thanks Ron

  • Thank you.

  • I will do the GBP/USD today So look out for it.

    I think that the world is waiting for the election and I think that if Romney wins the dollar will drop for time and then about halfway through his time it will then have a massive rise.

    If Obama Gets elected I believe it will bounce initially and then drop for a massive fall.

  • Thanks Alan

  • Your Welcome

  • Thanks for stopping by if you need anything please dont hesitate to ask.

  • I got in on a pull back with a daily entry point so there was no need to wait for a pull back. I do agree with you that it is better to enter on pull backs because that is the natural course of market movement.

  • Michael, That is why there is little movement in that pair because of the pegging but it is not identical because there is still trading on that pair. The Eur/Usd and Usd/chf are not the same pair they do have an inverse reaction and trade similar but they do have some differences, you can trade either pair there is no need to trade both.

    Here is an interesting article you may enjoy. http://seekingalpha.com/article/630331-swiss-government-bond-yields-signaling-de-pegging-of-swiss-franc-against-euro

  • Here is an article and Video I did on trading plans. http://winnersedgetrading.com/creating-a-forex-trading-plan/

  • You are welcome.

  • Thanks Frank

  • forexft

    I have just left a comment but it seems that it has not been published, anyway…

    Thanks Casey for the great analysis. After watching it charts get clearer to read to me.

    I don t quite understand your trade on USDCAD. At the beginning of the vid, it seems that the risk to reward is not even 1:1. At the end of the vid the hidden SL comes into play. That’s why I am confused. Who is the hidden SL hidding from? Is it from the broker? If you could please expand on your first hard SL and hidden SL I would really appreciate.

    I do believe that capital preservation is more important than capital appreciation that’s why I think understanding full well SL is so important.

    Always looking forward for your next vid.

  • omoh

    i do really appreciate your analysis which has given a better idea on how i view the market and what levels to watch out for. thanks alot for shearing your thought.

  • Glenn M

    Thanks for the weekly analysis Casey. It’s great to take a peak at your thought process. AGain, thanks!

  • Hi Casey, Your daily analysis is very helpful. Thanks for sharing your thought and helping us to see the light. Appreciate all your and your team effort. Very well done.

  • Ron TEA

    very useful analysis. keep it up.

  • Guest

    very useful analysis. thanks and keep it up.

  • Great work Casey I feel pretty confident after I started taking your daily analysis

  • Igor Semenenko

    Hello Casey.

    First of all I want say thank you for analysis which are very helpful. I found your site few weeks ago and very happy to see daily analysis.

    Unfortunately there is no GBPUSD. I was waiting it ๐Ÿ™‚ I thinks interesting picture for this pair: currently downtrend at Daily chart, but it seem that price is going to test and maybe break previous high at 1.6178. What are your thoughts about GBPUSD?

    And one more question about EURUSD. You mentioned about weekly channel for this pair: in which direction it will be broken? I understand that its too early to talk about break of channel. Just your opinion for fundamental situation and prediction ๐Ÿ™‚

    Well once again thank you and sorry for a very long comment.

    P.S. Hope you’ll understand everything what I meant.

  • Casey, excellent commentary as always. Appreciate you EOD and EOW round-up to help clarify what is often a confusing scenario.

  • Peter

    Hello Casey,

    I really look forward to receiving Nathan’s and your market analysis , helps me heaps.

    Can you please tell me how to post my photo, I am not very computer savvy but would really like to receive your chart trade repositioning and secret stop loss indicator.

    Regards from Peter

  • alex

    Hi Casey, Thank you for your end of week analysis, it’s fantastic. I appreciate that as I know it takes much effort to do analysis & produce that for free. God bless u & ur team.

  • alex

    Hi Casey, Thank you for your end of week analysis, it’s fantastic. I appreciate that as I know it takes much effort to do analysis & produce that for free. God bless u & ur team.

  • Gareth Roberts

    Hi Casey, i have been watching you and Nathan for a while now, and i really appreciate the work you guy’s do in helping us in our trading ideas. I was almost doing the oppersite of what you guy’s are doing before joining you…lol. Since listening to you and Nathan i have changed everything about the way i trade. So keep up the good work guy’s

  • Steve Odiase

    Thanks once again Casey for your Weekly analysis, I like to listen to this to give me a good idea on what the market is doing on a long term basis based on price action. I have a comment/question on the trade you took on USDCAD and it is; ‘ giving the very bullish nature of the breakout candle on the daily chart, don’t you think that you should have delayed your entry until a 30 to 50% pullback to maximize your ris/reward and minimize your drawdown? Thank you. Steve

  • Michael B

    Hi Casey
    A question about the CHF. If the CHF is pegged to the EUR then wouldn’t the charts be identical?
    Or in this case the inverse. ie when EURUSD goes up then USDCHF goes down in the same pattern?
    In other words if one trades the EURUSD then there is no point in trading the USDCHF

  • Phillip Blackburn

    Hi Casey , regards the trading plan I will check your tools section . I was thinking it would be helpful for students to have something like a worksheet where you have specific questions laid out for people to answer to develop a structured plan .

  • Jo David Kim

    Hi Casey, Thank you for your Daily and weekly analysis.

  • frank

    i sometimes miss your emails and when i cross check later i regret not going through them cause it would have helped me a lot in my trading, keep it up

  • Larry Beaty

    Even hints as to how to program it myself would be welcome. I am a long-time professional programmer, and although I’ve never programmed the MQL4 language that Metatrader 4 (MT4) uses, it wouldn’t be very difficult for me to learn it. I just have to convince myself to put in the time, and have a project that I want badly enough.
    Thanks in advance for any hints from anyone in the group.

  • Thanks Dende, I will send if you have any questions don’t hesitate to send them.

  • Larry,

    I am glad that this give you some positive perspective. I don’t know of a tool that can do this but maybe someone reading these comments can jump in?

  • Peter,

    Thanks for signing up to our daily videos and yes we all need some help from others to keep us on the right path, especially me. That is why I have a team of great people around me and a great community of people here on the site.

  • Joe,

    The stop does not change because in the settings you put what time frame you want the stop to be in. And you must have the computer on for it to work. And yes the stop will close when the candle closes.

  • Sure thing Ken I understand ๐Ÿ™‚ Thanks for the feedback it makes me extremely glad that people benefit from this.

  • Thanks John, I am glad you look forward to it, Myself and Nathan always look forward to doing them as well.

  • Thanks Christopher dont hesitate to share your thoughts on these comments either because lots of people read the comments.

  • yes it does save time and saves money too!

  • John,

    That is why I am here so thanks so much for coming by please tell other traders.

  • Diana,

    It will be hard to explain but I will be showing more of how it works later on.

  • You are welcome Gary

  • Zain,

    Thanks for the comment and to answer your question I do not know if that is wave C I am not very schooled in Elliot wave trading yet.

  • Thanks so much and remember if you have any questions please don’t hesitate to contact us.

  • Jeb,

    I have several templates I use and I will explain one if them in my next video.

  • you are welcome

  • Will I am so glad to hear it. IF you have any other questions for feedback please let me know.

  • you are welcome

  • I will try to remember to add it. Thanks

  • Thanks Kenno. I draw my trend lines based on support and resistance trends. When we find those trends we want to jump in and trade it.

  • Antionio, thanks for coming by if you have any additional questions please let me know.

  • Thanks Darryl

  • I always say two sets of eyes is better than one set of eyes. Thanks for participating.

  • Phillip thanks for the recommendation, When you say trading plan are you saying you would like access to our trading tools?

  • Ron, I think that the markets could start to trend the candidates change some of the economic policy for the better we could see a sustained move in the dollar.

  • Thanks John IF you have any questions please do not hesitate to ask.

  • it should work with any Mt4 Broker.

  • Thanks Ivan I appreciate the comment and thanks for participating.

  • Wow I am Impressed with the great response! Thanks everyone.

  • Larry Beaty

    Casey,

    First, just a quick comment on your analysis. I really enjoy the weekly analysis on Fridays. I try to watch the daily analyses, too, but it doesn’t always happen. Too busy, too many interrupts, etc. But with the weekly analysis I get to sit back and watch it on Friday evenings when not too much else is going on, and make notes on my charts that are good for days. It’s changing me from hyperactive trading on short-period charts to a healthier long-term outlook on things.

    Second, I’d like a tool kind of like the one that you use to measure vertical distances in pips, but I want it to show me what percentage of my account that distance represents (it would apply to either risk/stop loss or potential profit), assuming I’d primed the tool with my typical trade size or some foundational trading size that I build my trades on (e.g., I could configure to assume a 0.1 contract size, and I can mentally adjust if I decide I’m going to trade 0.2 or 0.5 contract instead). It should also help me pick a contract size – I want to configure it for, say, 1%, and it would calulate what 1% of my current account size is, then in combination with whatever vertical pip distance is being measured at the time, display the contract size that corresponds to that 1% risk.

    I’m using MT4. Do you know of some sort of add-on for MT4 that does this kind of thing?

    -Larry

  • Peter Morris

    Hi Casey. I have been receiving your analysis videos for quite a while now and I find them very helpful particularly when I have gone off track and need to get my head straight again. This is extremely valuable to me particularly when it comes for free! You can’t beat that!

  • JoeR

    For the Hidden Stop, does it change the stop when you change the time frame on your screen, or does it stay on the time frame where you set it up? While it is active do you need your computer on, and set up to show the time frame you want to use it on?
    And I assume it stops you out at the end of bar and not where you put the stop?

  • Ken Gee

    Hi Casey, Thank you for your end of week analysis, it’s fantastic. I never thought about using the weekly chart as a guide because I’m usually looking to match the lower time frames when I trade off of the daily. From now on I’ll look each side of the daily. I would have attached a picture but I’m an old guy and don’t have the technical ability to do that. Sorry and I sure don’t expect you ot break your rules. Thanks again

  • Hi ,great content, look forward to these Analysis every day, keep them coming
    Regards Robert

  • Christopher

    Hi, I realy enjoy the weekly and daily review of graphs and analysis. I use this regularly in my own trainding. It’s great to have a second opinion and in many instances I do my own analysis and your’s just confirms what i was thinking. Great support.

  • Hi Casey The hidden stop is a neat tool as I have used it previously, it saves messing around with inputting numbers!!

    Regards

    Peter

  • JOHN MELI

    I use your analysys to keep me out of trouble and make money. I look forward to the tade tools. Thank you for all your help

  • Dende

    here is ma photo

  • Diana

    Just started viewing your analysis about 2 weeks ago… Love it.. thanks

  • Dende

    I’ve been on break for a while after a stream of losses hit my account. I’m back now and you are one of my major encouragement for coming back. This is my first video after a long time and I enjoyed.

    Well I didn’t participate in the live broadcast but have watched the video. Can I still get the free trading tool?

  • gary

    Excellent analysys and a big help to me, thanks very much

  • Zain Abdul

    I love your analysis since the first time I joined your mailing subscription. Your analysis is simple to understand yet powerful. Keep up the good work Casey! by the way, something to point about on the USD/CAD daily chart, regarding your Long entry, would that be the Wave C of the Elliot Wave which is the ‘corrective phase’ after the 5 wave downwards ‘impulsive phase’ which started since the 1st June 2012? Please correct me if i’m wrong.

    p.s: Thank you so much for giving us the chance to get your powerful trading tool.

  • Brupet

    I have been following your analysis for some time now. It has been wonderful. Thanks for the good work.

  • Jeb Riordan

    Hi Casey, great work. I am 12 hours ahead of you and watch your analysis during my lunch break the next day. Question: you have some moving average lines on your charts, what are the number of days on each and do you use them to confirm the direction of the long term trend?

  • Austrader

    Thank you Casey.

  • Will

    Thanks again, Casey. My chart analysis is coming along nicely, thanks in part to your very careful explanations to your viewers!

  • Good analysis. Please keep it up.

  • aw

    very good analysis. would you mind to analysis xau too. thanks you very much

  • kenno

    Great analysis. Love reading and hearing WHY you entered and where YOU place your SL.When you draw your trend lines what is your criteria for drawing YOUR trend line

  • Casey i am following you from some time and I am trying to anticipate day by day your analysis, to see my improvments. Really now i am much more confident in pulling the trigger. Thanks

  • Darryl

    Great content. Thanks

  • Carl

    Great Analysis Casey, keep it up !!!! Always nice to see other analysis to make sure I’m seeing things correctly !!! Happy Trading and Can’t wait for the Saturday’s Article !!!!

  • Phillip Blackburn

    Thanks Casey,I get alot of great trading idea’s from the daily and weekly analyisis.I believe Winners Edge Trading is one of the best trading sites on the web and always recomend it to my friends .
    Now about that trading plan ??

  • Ron

    Thanks for the analysis. Do you think the market will move better after the election?

  • Brett

    Thanks Casey, I look forward to your daily and weekly analysis i find them very helpful with my trading.Brett

  • John

    Thanks for the weekly analysis Casey. I am totally interested in the SL/TP tool you have. Does it work with any MT4 broker???

  • Guest

    Thanks for the weekly analysis Casey. I am totally interested in the SL/TP tool you have. Does it work with any MT4 broker?

  • Always look forward to getting your analysis in my in box. Your insight and suggestions help disperse the fog I feel that I am in when looking at the markets. Keep up the good work.