More Articles

EURUSD breaks through the Trend Channel and our stop is hit

EURUSD breaks through the Trend Channel and our stop is hit

Unfortunately, EURUSD broke through the lower bullish trend channel line and our stop was hit. I've been thinking a lot about holding trades longer as I've known that this is one of my weaknesses in trading and with this trade, I did hold the trade and didn't meddle with it.. however, the price action didn't go where I was hoping it would and the trade ended up in a loss. It's extremely frustrating when this happens, my old method would have meant that I would have taken profits at 135

February 17, 2013 No Comments Full Story

Trading the EURO at the bottom of a Trend Channel

Trading the EURO at the bottom of a Trend Channel

So today I've entered long trading the Euro at the bottom of what looks like an ascending channel. Of course, this is my interpretation and the points within the channel never exactly match up but what is clear is that the price action have generally been moving upwards. Within an uptrend, the optimal point for entering is the higher low as you can put the stop below the low and if you're right, you should benefit from a good risk/reward trade. The exit would either be the top of the chan

February 12, 2013 No Comments Full Story

Days of Negative Price Action on Crude Oil

Days of Negative Price Action on Crude Oil

The other trade which I had tweeted out last week was my long Crude Oil trade. Once again, you can see that there was a strong bullish pin bar showing that the buyers were in force. As a Daily chart trader, I entered my trade on the close of the pinbar (ie right at the top of it). The market over the next few days then sank and didn't look very well. In fact, the price action sank as soon as I went long and price dwindled pretty much at the base of the pin at the 9500 level. I pretty much lo

February 11, 2013 1 Comment Full Story

« Older Entries   Newer Entries »