Archive for the Forex trading Category
A couple of days ago, I had shorted the EURUSD forex pair at the point marked above. The price action looked as though it was just retracing before a further fall. I was thinking that a move below 13000 would trigger a flurry and sell trades and the market will drop a few hundred points.
I was a little wary as the downward momentum after I had gone short wasn't really there so I had been moving my stop down as the price action moved down. Today, the market open a little lower but momentum
January 10, 2013
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I thought I'd post my trade of last week and also talk about what has happened over the last couple of days with the Euro market. It's important to review looking back to help formulate future plans when trading.. it is something which one needs to do all the time to ensure that you're on top of your trading. Anyway, my initial plan was to hold onto the trade for as long as possible and bring the stop loss down to the high of each day. This would then help lock in profits and give enough roo
January 7, 2013
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So for those who follow my Twitter feed, you'll note that I shorted the Euro (EURUSD) forex pair last night. The reason why I went short was because you can see that the bullish momentum seemed to have come to a halt... no more upwards movement. Then we got this massive bearish pinbar and that was our cue. I only held the trade from last night but as you can see, it fell like a stone. I don't like hard movements like this as it increases the chances of a pullback before a further movement so
January 3, 2013
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