I caught some of that breakout, but the news did also offer some nice movements, possibly adding to the overall momentum.
If you have in mind pound news, it looks like when the news came, the move up was almost over. I mean 8.30 GMT pound news. When it came out move was practically over.
Uploaded a video about my last week trading.
Entered eur/usd small short at 1.3597. t.p. at 1.3510 as of now. Reversal technical trade. Expecting gbp/usd to go down as well. Closed second position in eur/cad (the one I mentioned in my yeasterday’s video). That gave me 260 pips of profit.
I will see how gbp/usd and eur/cad behave. Both look bearish. cad data coming out in a couple of hours time.
Pretty cool monday and tuesday. Took eur/usd 2 trades, 1 gbp/usd. These were not very sucessful. Closed second eur/cad position. Coo. 270 pips. Then had nice profit in yeasterday’s cad news. My good friends eur/cad and gbp/cad, and took a nice profitable dive in gbp/jpy tonight. This was a technical trade. Shared about that in my last video. I love this game.
Waiting for us news. Expect some sort of volatility. Looking particularly at eur/usd. As of now, 1.3605 level is sell and 1.3664 a buy. But we still have plenty of time before news, so the picture might be modified later.
Bernanke’s ‘intelligent’ speech might also affect the market a lot. eur/gbp keeps on hitting o,8860 level. We will see which way it will choose to go.
Entered a small eur/cad short. 1.3597, stop at 1.3637. Take profit at 1.3510. Purely technical trade.
based on which indicators?
ha ha ha ha ha ha
goog to have u here hoping for some news that effect
best regards
Exited at 1.3570 by following my 15min candle rule (for stop placing). 27 pips of profit.
Breakout of support level. Nothing else.
Nothing interesting. Guess market could be waiting for Chief’s remarks. Then the picture would be clearer. No trade yet. Only eur/cad 27 pips of profit.
Chief’s speech did some sort of pushing in majors, not big though. So far, gbp/usd is the only pair that reached its target (from my point of view). eur/usd was shy 11 pips, but maybe it will change its mind and start climbing again. Did not trade the speech though. However, this speech could have consequences tomorrow and friday.
Hey
Getting to the stage where I’m trying to find my trading set up and
People have told me to go with what suits me.
I’ve found when doing my demo analasis and entry decisions that
These are good for me,
Trend lines - weekly and above for trend
Price action - candlestick
Indicators - EMAs
Stop lot - 30 and above/below S/R level
Can’t really pick up the triangles and flags yet - so much to
Look out for I need a reminder list blue tackes to the wall
Forex wales
If you expect more advice, here it is:
Trend lines - can be done on any time frame (4hour best for short term trend) weekly if you are an investor
Price action - candles are good if you know how to interpret them.
Indicators - ema’s for signals, 4hour rsi for overbought oversold levels, 200 sma for trend direction. All of them can be used in a range trading. In my opinion all indicators are of minor importance. Candles are good though.
Stop loss - better above and below resistance levels and then modify your overall position according to those levels, rather than deciding number of pips you want to risk.
Good luck in trading. Feel free to comment, ask and express your opinion.
fibo777
Thanks a lot, that really helps
Forex wales
Always welcome.
Sold eur/gbp at 0.8799. first tree on the road is at 0.8780. Hope it will go beyond that, till 0.8750. Let’s wait for a session or two.