Posts Tagged forex
I just went long on the USDCHF pair... if you click on the picture above, you can see it more clearly. The price has now hit a support line which was a strong base at the beginning of the year. The price had hit this year on a couple of occasions and it's worth a punt!
The negative aspects of the trade is that the price is looking a tad weak and we have gone long as the market is trending lower so we are indeed trading this as a countertrend play.
However, the risk is low.. 30 pips w
September 23, 2013
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This is going back a while now but a trade that I had put on the 5th August - those following my Twitter feed would have seen this.
I went long AUDUSD after seeing a pinbar as you can see from the pic below.. the next day it went up and the following day, you can see that there was some retracement. In the Daily chart, it looks fine but if you actually saw what happened that day, you would have gotten spooked which is what happened to me. I saw that I was 70 points up at one stage and then
August 14, 2013
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I like pinbars as they show strong buyers (or sellers) in the market. It was last Thursday when I went long USDJPY after the bullish pinbar. The market though had been in a downtrend so it was a risky play but the market was oversold and I was expecting a bounce at some stage.
Anyway we went long expecting a movement the following day.. however, that didn't happen. On Friday, the market pushed down and when the markets opened over the weekend, the price action pushed almost to the low of
August 13, 2013
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