Archive for February, 2013
I played the Dow countertrend yesterday, the Dow had fallen heavily and I took this to be the start of the downtrend after weeks of bullish movement. I was expected to see a pullback from the bullish movement of the DOW and this was my signal for it. After the huge move down, there was an initial move up and this was what I took to be the pullback before lower prices. Unfortunately, I was wrong this time.. the DOW powered ahead.. it's shot up around 200 points and have broken the previous high!
February 27, 2013
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Trading the Aussie, that's the AUDUSD forex pair last week I saw a double bottom (as per blue horizontal line). The price action was quite strong but the underlying trend was Short so once again, like the GBPUSD trade earlier, a countertrend play. I went long at the close of the pinbar at 10296 and watched to see what would happen the following day.
Price did indeed go up but hit resistance on the moving average line. I got out at 10328 (not bad as the high of the day was actually 10340,
February 24, 2013
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As you can see from the chart, the GBPUSD has been in an extremely bearish market. However, when I saw the bullish pinbar, I knew my trade would be a countertrend trade where I would have to be extremely careful, ensuring that I don't end up losing pips.
With my last few trades, I've been holding out for the longer trades but they've not been working out for me so I'm going to split my trades... I'll report on the ones where I have had my most success (ie daytrades) on Twitter but will be
February 24, 2013
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