Posts Tagged Forex trading

Massive moves on the Yen pairs

Massive moves on the Yen pairs

Today, we saw massive moves on the Yen pairs. USDJPY had gone up around 250 pips and the GBPJPY around 600!! On the 2nd of April, I had put on a long for the USDJPY pair after it had bounce off support. I saw that the longer term trend was up but the market was going through a retracement.. I thought that this was an opportunity to go long so I did. I set my stop at 100 pips which was below the previous low and a target of 100 pips also for a 1:1 risk reward trade. As you can see from the

April 4, 2013 No Comments Full Story

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

AUDUSD – Got caught by the Stop Hunters

AUDUSD - Got caught by the Stop Hunters

  This is what Friday's trade looked like. You can see that a support was formed at around 10400 and I went long after the second bounce of the support level. Although the price action was still in a downtrend, I felt that we had a good chance of a good move up from this level and hence the long trade. However, I got stopped out as the price action pushed down below support taking out the stop and then finished above the stop again. This to me looks like a push to trigger the stops b

February 3, 2013 No Comments Full Story

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