Archive for the Forex trading Category
So when the markets opened last night, I saw that there was a bullish pin bar. It was very apparently and had a very long tail which signifies strong buying. I tend to trade with the trend using the moving average line to ensure that I only go long when the price action is above the line and short when the price action below. However, when you get such a strong signal I couldn't just leave it.
So I was rewarded this morning it started going up... my initial trade was long at 10354 with
November 19, 2012
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The below chart shows what happened to the Euro (or EURUSD) forex pair on Friday.. the price action had plumetted shortly after the pin bar (as highlighted in blue).
I was actually a day late with this trade but the price was pretty much as the same level of the close of the Wednesday bar so I shorted it. My initial target was the previous support level 12885.
You can see that the price hit that yielding me 50 pips but it also continued to fall.. there was another 50 pips in the move.
November 4, 2012
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I was reading an article the other day which said that the markets these days are harder than they use to be to make a profit.. 10 - 20 years ago, you could just buy/sell and hang on.. the markets would generally trickle one direction. In this day and age, the market volatility is extremely high and it's not easy to enter the markets and make money.
I don't know how true this is but certainly, the markets know exactly where to hit you and take you out. I have always thought that a stop shou
September 20, 2012
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