Sorry for the late update folks, but the conditions did not line up for the 12:30pm GBP/USD long trade either today. That’s all for the week, the month, and the year
Due to the holiday on Monday, I will not update the board until Tuesday. Enjoy your long weekend and I will update the board next week. Cheers!
Hopefully you enjoyed your long weekend and are ready for another great year in FX I will be providing a look back on 2011’s trades within the next week or so; hopefully it helps those of you that are looking for an official recap.
The conditions did not line up for the 7am EUR/USD short trade this morning. Next trade: the 9:30am GBP/USD long trade.
Sorry for the late update, but the conditions did not line up for the AU open EUR/USD short trade and the 12:30pm GBP/USD long trade did not reach TP or S/L yesterday.
However, the conditions did line up for the 7am EUR/USD short trade this morning. Here is the setup:
Entry Price: 1.2840
Exit: at the open of the 11am CST bar
S/L: 1.2900
TP: 1.2820
Based on current price movement, I recommend taking this trade with a lesser lot size.
Sorry for the late update folks. The 12:30pm GBP/USD long trade did not reach TP or S/L, the conditions did not line up for the 3pm GBP/USD long trade, and the conditions did line up for the AU open EUR/USD short trade. Here is the setup:
Entry Price: 1.2784
Exit: at the open of the 7:30pm CST bar
S/L: 1.2814
TP: 1.2774
The AU open trade did not reach TP or S/L yesterday, and neither did the 9:30am GBP/USD long trade. Also, the conditions did not line up for the 7am EUR/USD short trade today. Once again, the EUR/USD pair will likely move in a definitive direction today, but be cautious throughout the day and early next week as we may reach a period of expanding range while the market attempts to correct the bear move over the last few weeks.
The conditions also did not line up for the 12:30pm GBP/USD long trade today. That’s all for the week; enjoy your weekend and I will update the board on Monday.
Hopefully you had a great weekend and are ready to gain some more pips this week in FX
To start, be carefully picking your general trading direction this morning as we are waiting on a clear sign from the market as to which definitive direction it will move. Lately, the EUR/USD pair has been in a down-swing. If that continues, the same trading patterns that you’ve used for the last few weeks will apply, but you should also be ready for the possible reversal in trend, which should be preceded by a volatile period of expanding range as the bulls try to regain control of the market.
The conditions did not line up for the 7am EUR/USD short trade this morning. Next trade: the 9:30am GBP/USD long trade.