Dear all,

I've once written a blog on this pair, about the peg Everything You Need to Know About Peg on EUR/CZK and How to Trade it Afterwards.

We are back above 27 czech crowns per euro and so I think this pair deserves an attention of forexmospherians again.

Few words about current development. The reason why Czech National Bank (CNB) set a peg on 27.00 like 5 years ago were the deflationary tendencies which are thought to be harmful for the economy. The level of a "healthy" inflation was reached through this monetary channel and the peg was left. Why it is on my spotlight - here are several scenarios which can influence the exhcange rate of this currency pair in the near future:

1. The level of inflation will…

It has been a while since my last blog, not sure if I can still write some thoughts down on a paper, so let's try=))

During our trading journey, we often wonder how the market behaves on the price charts. Every one of us employ different methods and views so he can trade his edge comfortably. Some of which can be the market harmonics or market geometry trading... One law stated by very well-known Alan Hall Andrews says that the market reaches the median line in 80% of time (hopefully I remember that one correctly). And there are certainly more of these.

The question which immediately arises is: “Is there any research which could confirm that there certainly are universal laws in price charts of financial assets?”

The answer is surprisingly - Yes. We talk about…

BTC/USD is currently testing its 2 months lows. There are as always, three possibilities. Either it will go up, down or sideways. For now, let's think about the two, up and down.

Boucing off and holding important level of $6,000 seems like we can hold it for longer. Important to note that this level has also been refused several times. Should therefore be the HODLERs happy with the current situtation? No. The trend is still pointing down and if we can break the $6,000 level, it will get worse and leveraged people shorting this market at BitMEX, Kraken and other exchanges allowing either short or short-sell will definitely decimate your long positions.

Needless to say, this level is not just Bitcoin crossroad, it is a crossroad for all altcoins as their returns against fiat currencies are highly correlated to what happens on this lovely BTC/USD pair.

 …

There is probably an issue with photo posts as they do not display in activity feed, so I will use this blog for that purpose ;)

I entered two trades today on GBPCAD and AUDCAD. The plan was to cover some previous days loosing trades and so I cashed in too early.

GBPCAD - long

AUDCAD - long

If you want to know more about the strategy used, you have to sign in and talk to any forexmospherian =)

Regards,…

2 entries.

Gain:  ~$0

EURCAD

Price broke 1.54 and I saw bears with a great power. NY open turned over the market and so SL was hit.

NZDJPY

Price turned back under 79. New lows were printed in an overall downtrend and so why not to sell. I must say I cashed nicely yesterday on this pair entering at almsot the same time. So will try again tomorrow :D Final RRR 1:1.

Trades

If you wanted to see my recap of trades. I can post them everyday. Or just jump in the chat and we can talk about those entries…

Recently I've got back to one great book about Modelling and Simulations I read few years back. There is a basic model for economics mentioned, the Pólya urn model. It reminds me nothing but our lovely financial markets we trade everyday.

How does Pólya urn model work?

"objects are represented as colored balls in an urn. In the basic Pólya urn model, the urn contains x white and y black balls; one ball is drawn randomly from the urn and its color observed; it is then returned in the urn, and an additional ball of the same color is added to the urn, and the selection process is repeated. Questions of interest are the evolution of the urn population and the sequence of colors of the balls drawn out." (…

Presenting keyboard shortcuts which I find extremely useful in charting forex markets. Keyboard shortcuts will especially help in making trading alot faster, so why not begin to learn them all which enables extra speed putting a trader in front of trading competitors? (:

Oanda's fxTrade

Provided by www.oanda.com. It is easy to see most of the traders around Forexmospherians.com trading forum using these tools. The most useful of all and used all the time by myself are marked in the red rectangle in the photo below.

 …

Wash trading, tape painting, spoofing, pump and dump.

There have been so many people sentenced for these activities. Despite the fact they know it is illegal they keep trying.

Now let's imagine you are one of the people who want to make big money in the market, you can try one of the activity mentioned above, but you are facing the risk of going to jail. Well it does not sound so cool anymore, right? But wait... What if there was some kind of unregulated market with big cap and liquidity?

Aaaaand there is one =) In my personal view, all the market fraudsters are already there, rigging the crypto market with style.…

Few charts for this pair which deserves an attention. Also combined with Kraken and other oracles, could bring some pips. ^.^

Firstly the fork pointing down.

Then 1D breaking lower and lower.

Same elsewhere.

And then, hard to say at this moment whether it is an accumulation zone under contruction.

And then some PA on the same chart. Whispering lower after breaking the tri.…

We have witness a really strong bull market for EURUSD so far this year. So in my view, the market has just reached the 1st half of a bigger move upwards. The market currently refused 1.2 with Head and Shoulders chart pattern, so it is more than likely that some shorting EURUSD is ahead, but caution is required as all market sentiment can revert back to the bull market at anytime.

A strong argument for EURUSD long as described in my comments to Pixta's photo post is also supported from the idea that Trump with Mnuchin want to see weaker USD, because of the US based companies' competitiveness. US Treasury Secretary Steven Mnuchin said moments ago on CNBC that "having a weaker dollar is somewhat better for trade".

In this context Trump said to Germany in May: "If you want to build cars in the world, then I wish…