13,810 pips earned in 2014! Follow The Last Bear today!

The Last Bear Trading Recommendations!

Open a demo account and check out The Last Bear

PaxForex should be your first stop to the forex market.

Follow The Pips

Earn with The Last Bear!

Forex Trading Course

Get your hands on this Forex Trading Course, an introduction for beginner's into the forex market.

1,335 pips earned in December

Get your hot trades exclusively at The Last Bear!

Thursday, May 21, 2015

Gold Buy Recommendation May 22nd 2015

Commodity: Gold
Timeframe: Hourly Chart (H1)
Recommendation: Buy Gold @ 1,207.50
Take Profit @ 1,230.00
Stop Loss @ 1,201.00

Given the economic reports set for release today and with the weekend ahead of us plus the two speeches by central bank officials on top of what the charts are showing us I went long Gold and plan on keeping it over the weekend as I think we will see a stronger price by the time markets close for the weekend.

Be advised that volatility may be elevated and that we may see a move to the downside and a test of support around the 1,203.65 before a breakout can lead to a short-covering rally and some good upside.


Tuesday, May 19, 2015

AUDJPY Buy Recommendation May 20th 2015

Currency Pair: AUDJPY
Timeframe: Hourly Chart (H1)
Recommendation: Buy AUDJPY @ 95.75
Take Profit @ 97.25
Stop Loss @ 95.00

The better than expected GDP report out of Japan failed to rally the Japanese Yen which is why I took a long position in the AUDJPY today. This currency pair is trading inside of its support level after a nice sell-off took it there. I was waiting for the GDP report to be released before placing my buy order.

I think we can see a rally of roughly 150 pips which will take us back to resistance from where I will take another look. Upward momentum may be strong enough for a breakout and continuation, but plenty will depend on fundamental factors.


Sunday, May 17, 2015

Silver Sell Recommendation May 18th 2015

Commodity: Silver
Timeframe: Hourly Chart (H1)
Recommendation: Sell Silver @ 17.70
Take Profit @ 16.30
Stop Loss @ 18.50

I have hedged my forex portfolio with a short position in Silver. I expect this commodity to fall victim to a profit taking sell-off after fundamental data caused a rally. The factors which impacted Silver in a bullish fashion are now losing its impact and I expected a price action reversal back down to support.

We may see a false breakout above its resistance level which could extend up to the 18.00 mark from where I may seek to add to my short positions as the upside potential is rather limited while the downside potential remains attractive.


Thursday, May 14, 2015

USDCHF Buy Recommendation May 15th 2015

Currency Pair: USDCHF
Timeframe: Hourly Chart (H1)
Recommendation: Buy USDCHF @ 0.9130
Take Profit @ 0.9350
Stop Loss @ 0.9000

I have taken long positions in the USDCHF this morning as I think we will see a US Dollar rallying into the weekend. One part of the rally will come from economic reports released during the US morning session while the other part will come from some profit taking before the weekend.

The US Dollar could be in for some choppy trading sessions, but I do think we will see an upward bias until the downtrend can continue. Currently plenty of currencies are facing headwinds and an increase in volatility should be accounted for.


Tuesday, May 12, 2015

EURNZD Sell Recommendation May 13th 2015

Currency Pair: EURNZD
Timeframe: Hourly Chart (H4)
Recommendation: Sell EURNZD @ 1.5230
Take Profit @ 1.4200
Stop Loss @ 1.5500

Yesterday I sold the AUDNZD and I added to my position after it rallied to 1.0840. I will short it again at 1.1000. Today I am taking a short position in the EURNZD as I think forex traders are best advised to lock in some of the profits after a rally which spanned roughly 1,500 pips.

Volatility could be at elevated levels as upward momentum is strong, but the recent failure to breakout above its resistance level has started to shift momentum and a breakdown below it should set this currency pair on course for a bigger reversal.