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The EURUSD Failed Technical Turnaround Day Trading Strategy

Use a 1-minute EURUSD chart for this day trading strategy, during the London and/or US session. The strategy is best applied between 3 AM EST and noon EST. A failed technical turnaround occurs when a technical turnaround fails (read that article first). We have isolated a trade trigger for the technical turnaround, but instead of…

Use a 1-minute EURUSD chart for this day trading strategy, during the London and/or US session. The strategy is best applied between 3 AM EST and noon EST.

A failed technical turnaround occurs when a technical turnaround fails (read that article first). We have isolated a trade trigger for the technical turnaround, but instead of moving in the new direction, the price moves back in the old trending direction. In other words, the turnaround or trend-direction-change failed.

The technical turnaround (“tech turn” for short) typically produces a number of trades during the timeframe. By incorporating failed tech turns we get more signals, which means more trading opportunities. Add in the EURUSD Session High Low Strategy for more possible day trades.

Failed Technical Turnaround Day Trading Strategy

To understand the failed tech turn, we need to understand the setup for the tech turn, because only one thing changes. Here is the setup for the tech turn.

1. That basic concept of the strategy is that we need to the price to move back up to near a prior swing high after a decline, or back down to a prior swing low after a rally. [This is what indicates a possible trend change.]

2. The price must then make at least one small price swing before consolidating. [This price swing can’t move far enough to trigger a tech turn in the other direction…because then we have a setup going the other direction.]

3. The price must then break out of the consolidation in the expected direction to trigger a trade.

4. A stop loss goes just outside the opposite side of the consolidation.

5. The simplest profit target is placed at a 2:1 reward:risk. For example, if risking 3 pips on a trade (approximate height of consolidation), place a profit target 6 pips from the entry. If risking 6 pips, the target goes at 12 pips.

For the failed tech turn, everything stays the same, except number 3. Instead of breaking out of the consolidation in the newest direction, it breaks out in the old trend direction.

A tech turn is a possible trend reversal price pattern. But the trend may sometimes look like it is about the reverse, but then the old trend continues.

It is also possible that the tech turn will trigger, but then fail to reach the profit target, turn the other way and trigger a failed tech turn.

Below is an example of a failed tech turn. A swing low is made during an uptrend. The price drops back to that swing low. This is the first sign of a possible reversal. An uptrend requires requires higher swing highs and higher swing lows, so once the price drops back to the prior swing low, the uptrend is in possible trouble. 

There is another price swing, and then we are waiting for a consolidation. If this trend is to reverse to the downside (tech turn), the price needs to break out of the consolidation to the downside. It doesn’t. It breaks to the upside. Go long, in the direction of the overall uptrend. The price trend didn’t reverse.

A 2:1 profit target is used, and a stop loss is placed just below the consolidation.

If you decided to trade for a 12 period, below is how your chart could look on a given day. There were lots of trades this day; more than usual.

Assuming a risk of 1% on each trade, losing trades are -1% to account equity, and winning trades 2:1) are +2% to account equity.

Here’s more examples of how these strategies are used together. 

Don’t be Discouraged If This Looks Hard

Did you look at the charts and scratch your head? That’t totally fine, and expected. We need to train our eyes, and our brains, to see these types of patterns. I don’t see them all and I have been trading this way for years. I still look through my charts at the end of the day and say “How did I miss that one.” Yet even if you miss a few trades, there are still lots out there you will see…with practice.

I suggest you print off the chart examples (rotate them vertically and then print them, so they are nice and big). Study them. Ask yourself “What the hell is he doing?” Look at the price waves, compare them, and then you may start to understand a trade. 

Then you may be able to spot one or two. Then you start noticing more. It is a process.

Some Additional Notes on the Failed Tech Turn Strategy

Look for examples of the strategy on your own charts, then decide how you want to utilize the strategy. Create your own personal rules and checklist. Practice in a demo account and make sure you can trade the strategy profitability before attempting it with real money. This strategy requires thinking ahead and quick reflexes. 

I typically use market orders (with a target and stop loss attached) to buy or sell when the trade triggers. You could also put stop entry orders (with target and stop loss attached) just outside the consolidation to be triggered if the price moves out of the consolidation.

As for whether the strategy works on other pairs or time frames, I don’t know. I only use this strategy on the 1-minute EURUSD chart. It may work on other time frames and currency pairs, but check it out yourself before attempting to implement it.

For help in understanding the tech turn and failed tech turn, its important to understand price action. Here’s a video on analyzing price action.

Cory Mitchell, CMT

Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.

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Online Trading platform SIRIX


SIRIX|  Online Trading platform SIRIX Review


Everyone that has been trading for some time has most likely traded on the metatrader 4 trading platform of metaquotes. This has been the standard in the industry for the last couple of years.


But more and more brokers Like CMSTrader and UBCFX are offering alternatives that might suite certain traders even better then the MT4 as they have a lower learning curve and are designed more intuitive.
One of these platforms is the Sirix Trading Platform.
The Sirix Trading platform is

Sirix, a fully packed trading software with numerous with numerous options and special indicators that are designed by the software company to present you with a personalized trading experience.

Positive features and benefits of the Sirix Trading Platform

Ease of Use: if you are a trader you will be able to access your Sirix trading platform and see all your trades and other information at any place and time. The Web-trader is a fully function trading platform that does not require you to do any download. This has more or less become the norm of the industry and if you for example take the Sirix Trading platform of LegacyFX you will be able to have a download desktop version, a web version and a mobile version.
these in general all have the same functionalities but of course is the mobile version a bit more limited due to the smaller screen real estate.

Indicators and Options: this platform provides build I more than 50 Indicators which for most traders is over kill but it does allow most traders to find the right indications to match their trading behavior and trading strategies.

The Charting Package that Sirix provides is easy enough to understand and gives you as a trader all the information you need, there are different time frames that in combination with the ability to display lines and annotations make this platform feel like it is designed for you.

Social Trading: Sirix has a full feature social trading module that allows you to watch the trades of others which might give you new insights and trading ideas. If you come a across a trader that is particular successful you are able to copy that traders’ trades and create a full automated copy trader,
You as the trader are still in charge and you have the option to trade with lesser or higher amount then the trader you are copying.
In order to use the social trading, you have to open an account with their social trading community.

This can only be done by using a nickname an order to protect you identity. When you are part of the community then you are part of all the brokers that offer this feature to their traders. Meaning you are able to follow a trader that is trading with 12trader while you are trading with account from UBCFX or any other broker that has Sirix.

Now I have to mention that if you look to only trade social then the Etoro Platform is still a better solution s this system is built only for social trading and they have pretty much defined the concept.


Sirix Crypto Trading Platform

this is the latest platform that was launched by Leverate.

it focuses , just like the name says more n the trading of cryptocurrencies.

as this company understands that this is the direction where the market is going and more and more traders are asking for trading in Bitcoin or ripple trading to just name a few they have added this feature to the Sirix Platform , this means that every broker that has the sirix trading platform is in theory able to offer trading in cryptocurrencies.

in addition they have launched also a platform that is only trading cryptocurrencies but that will be another review as i have yet to see and play with this system

The Software company Leverate has created a very user friendly platform with inbuilt social trading and news functionality. When they launched this platform in 2012 it was already a good platform but today it rivals the best of them easily.

The Intuitive aspect of this platform is one of the key features and makes the threshold of trading lower for newbies. There is also a fastn amount of Sirix Tutorials out there that will help even the total beginners with the Sirix Platform

Now of the traders that need bots and more indicators then there sis still nothing that beats the metatrader 4 trading platform but for many traders Sirix offers more then enough and makes the trading experience easier then with MT4.
More and more brokers are offering this alongside their other trading platform so you as a trader will come across more and more brokers that have the Sirix Trading platform in their arsenal.

These are some of the Best Broker for trading on Sirix


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Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Bringing DLT Specialists Together:


 On September 11, Sweden will host Blockchain & Bitcoin Conference Stockholm organized by Smile-Expo – international coordinator of business events.

The conference will introduce various topics regarding blockchain and will drive attention to the most topical problems of the cryptocurrency market today.

Key speakers:[yasr_overall_rating]

One of the invited experts is the Member of Swedish Parliament Mathias Sundin who is involved in the Tax Committee and the Finance Committee. The specialist has co-founded a revolutionary technological organization Warp Institute and joined financial company Goobit. At the event, the speaker will analyse the power of decentralized systems, evaluating its long-term strenghts.

Head of Digital and Innovation at Landshypotek Bank Merete Salmeling will deliver the presentation, too. She will explain how DLT can be integrated into the real estate, and what advantages it brings.

President of Blockchain Alliance Europe Tanja Bivic Plankar will join the conference as well. Being an initial coin offerings expert, she will share knowledge about ICOs, describe recent innovations in the token sale sphere and talk about the regulatory framework.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

Regulatory and legal challenges coming with innovations will also be discussed by Dr. Guenther Dobrauz-Saldapenna – Partner & Leader PwC Legal Switzerland. The speaker is a lawyer, VC investor, and banking specialist. He provides business consultations and has already written 10 books discovering innovative processes, money and technology.

See the full list of Key speakers here

Blockchain & Bitcoin Conference Stockholm is the second crypto event in Sweden carried out by Smile-Expo. The company has already held 40 successful crypto conferences in 25 countries.

Use an opportunity to meet leading DLT specialists, ask questions and learn new topical information about the blockchain industry at first hand at the conference!

Blockchain & Bitcoin Conference Stockholm

Details of the event and registration are available on the official website of Blockchain & Bitcoin Conference Stockholm.

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Go Visit the Blockchain & Bitcoin Conference Stockholm

Go Visit the Blockchain & Bitcoin Conference Stockholm

The Blockchain & Bitcoin Conference Stockholm is a highly anticipated crypto event in Sweden.  and is being held for the second time.

after the success of the first one they look to make this event a annual one.  since the crypto industry is going more and more out of the shadows and becomes more mainstream you will find that the quality of people involved also grows.

this is clearly displayed in the extensive list of speakers at this event.

Event goals:

bringing together the international business community in order to share their experience of integrating blockchain and cryptocurrencies; discussing blockchain industry issues and finding ways to solve them; encouraging a balanced growth of the cryptocurrency market.

Conference topics: 

  • blockchain in various sectors: energy industry, real property, newsmaking etc.
  • Legal regulation of the blockchain sector
  • token models and their application
  • ICO regulation.


the list of world-renowned blockchain experts, including government officials, foreign investors, entrepreneurs, lawyers, and developers is impressive and should get this event the notice it deserves.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

who should not miss this Event :

investors, business people, lawyers, startup founders, and those aiming to launch a token sale.

why should not miss this Event :

:to receive full information with case studies about the blockchain application, to discover how to comply with the legal norms in the blockchain industry, to find business partners, and to enhance your brand awareness.

Prices of the Event

Standard ticket  – 240 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

Student ticket – 121 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

A valid student ID should be presented at check-in. No refunds on the day of the event.

Buy Your ticket Now

Blockchain & Bitcoin Conference Stockholm is a part of the series of Blockchain World Events held in 25 countries. The organizer is Smile-Expo International Company.

events around the globe

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