Posts Tagged fibonacci
I was pretty smug this morning with 70 pips on the AUDNZD trade I made recently... I have just checked my Forex charts and this is what I see....
The market hit a peak of 1.2435 which is about 250 pips!!!!
The thing about trading is that you can hold for greater moves or just get in and out where you can. I am thinking of holding out for great moves.
Anyway, I am going to try the follow for my Forex trades... enter a trade with a 50 pip stop and a trailing 50 pip stoploss. Alternati
June 4, 2008
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The previous evening before I went to bed, I put on a couple of trades based on the stochastics cross method I'd been using lately.
Firstly the NZDUSD short at 0.7820. I was probably a bit late in the entry as the trigger is a turn on the moving average trend indicator together with the stochastic cross. However, I got out when the trend indicator started to change at 0.7803 for +17 pips
Secondly, I went long AUD/NZD at 1.2185 seeing the stochastics cross and the changing of the trend
June 4, 2008
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After missing the ride on the previous EURCHF signals, I thought I would be disciplined and trade the signal properly this time.. not close out early to take a profit or loss but actually ride it all the way.
Ok, I see the blue signal in the moving average trend indicator and also, stochastics cross.. a long entry!!
Hoorah, I get in at 16121 after an initial pullback and wait! Unfortunately, it starts to move down almost immediately and I have my 50 pip stop loss in place. Unfortunately, i
June 4, 2008
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