Big news for this week!

Below are some announcements that may impact the markets this week:
(All Times are in GMT)

Hirose Financial UK remains stable despite the SNB (Swiss National Bank) shock.

The moves in Switzerland came after the Swiss National Bank unexpectedly removed its minimum exchange rate cap of 1.20 Swiss francs to the euro, which was introduced in 2011 to protect the country from the eurozone debt crisis.  And just when the market was beginning to come out of the shock, a second wave of high risk events came out: brokers around the world are collapsing in the wake of the SNB's decision.  This has happened as traders are now sustaining losses which have exceeded their account equity. 

Please be assured that Hirose Financial UK remains stable despite the SNB shock and all our client money are safe and segregated as it has been. 

HIROSE News 

If you missed last week's news here is a recap of using the RSI to trade Binaries.  Binary trading may be safer to trade at times like this as the account balance will never be negative as many forex trades experienced when the SNB news came out.

Trading Binaries using RSI (Relative Strength Index)

The RSI indicator is an oscillator and will create a value between 0 and 100.  The standard setup on your MT4 is 14 periods and parameters of 30 and 70.  If the RSI is below 30 it generally means that price action has been weak (with potential to BUY).  If the RSI is above 70 it generally means that price action has been strong (with potential to SELL).

Snapshot of GBPUSD 9th Jan using 30 minute timeframe.

The RSI looks for reversals in price.  Here I have highlighted a potential scenario: if the RSI crosses above the 70 line the market is perceived to be over bought so SELL.  This can be viewed as a counter trend trade.  At the start of the next period (see arrow) a DOWN trade can be executed on the Binary Platform.  In this instance your trade would have been correct.

Setting Chart Time Intervals in MT4

If you want to represent your 3 or 10 minute trading on MT4 using the Periodic Converter  this is how to do it.

          1. Open up a 1 minute chart of your choice.
          2. Find period Convert under Scripts using Navigator.
          3. Drag and Drop Periodic Converter into the chart.
          4. Change the Value (under Input tab) to 3 (or 10)
          5. Click OK
          6. Click on File then Open Offline
          7. Scroll down list to find your chart and click OK

You will notice that you now have a new chart with the period you requested and the default time intervals on MT4 have been greyed out.

Happy Trading!

The Hirose UK Team