Archive for the Spreadbetting Category
The markets have been kind to me the last couple of weeks... quite a few signals and decent follow through on price action. So on Wednesday I had gone short on Gold.. the trend had been down and I saw the bounce as a retrace. You can see how the price got stuck around 1750 which also happened to be the 50% Fibonacci of the initial fall.
I got in at 1751 with the initial target around 1730. However, when I saw the pin bar in the 4 hour (as in the chart) I too profit around 1742 only for th
October 19, 2012
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I would have been wary of this trade personally as the market has been trending downwards for a while but trends do reverse. I do like pin bars as they show strong buyers or sellers. In our case you can see that there were buyers present forming the pin bar in the daily chart.
If you were to trade this you could take the long at the break of the nose of the pinbar.. so far the price has moved a nice 300 points... big moves like this probably mean a pullback at some stage so one would have t
October 9, 2012
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After missing out on yesterdays trade, I entered a trade on the GBPUSD (Cable) pair today. The 15 minute charts showed a clear downtrend denoted by a series of lower low and lower highs as per the red arrows. After watching the price action, I saw that the downtrend pattern had failed and it looked as though the price was at the start of an uptrend by breaking the previous lower low in the downtrend.. this is where the blue resistance is in the chart.
I used to love trading breakouts but
August 6, 2012
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