Archive for the Forex trading Category

Daily Bar breakout on GBPUSD for 60 pips

Daily Bar breakout on GBPUSD for 60 pips

The markets had fallen hard the last couple of days and I thought that they would have fallen a lot more but yesterday, the markets found some support. This pattern was seen across the DOW, FTSE and other currency pairs. I knew that a lot of people were expecting the markets to tank completely but having a whole day where it consolidated presented an opportunity in my opinion. The markets would either rally or drop like a stone and I expected whatever happened the market would have moved str

March 8, 2012 No Comments Full Story

Stopped out trading the USDCAD

Stopped out trading the USDCAD

Today was another one of those days where the market didn't want to play. As a frequent visitor to the markets, this kind of thing happens all the time.. there is no such thing as a sure trade as the markets can do absolutely anything. Anyway, here was my trade today, I took the long trade as the price of USDCAD bounced off the moving average. Price action looked strong and I was looking to take this up to 10400 and a relatively tight stop. Looked like a great trade... Unfortunately, t

December 19, 2011 2 Comments Full Story

Trading the Nonfarm Payroll (NFP)

Trading the Nonfarm Payroll (NFP)

The nonfarm payroll or NFP is an economic news item which comes out once a month in the US and details the number of jobs added or lost in the economy over the month. This is always a big event and in most cases, massive movements in all markets are seen when it is released. You can read more about the nonfarm payroll through the Wikipedia entry here: http://en.wikipedia.org/wiki/Nonfarm_payrolls I'm going talk about trading the nonfarm payrolls.... don't do it! In my experience I've found t

December 2, 2011 No Comments Full Story

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