Posts Tagged fx

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

Woke up richer by buying the Aussie (AUDUSD)

Woke up richer by buying the Aussie (AUDUSD)

[caption id="attachment_7664" align="alignnone" width="599"] Buying AUDUSD[/caption] Last night, I went long the Aussie (AUDUSD) forex pair at 10517. From the chart you can see that there was support at 10500 and the trend had been up so this was a retracement play. The first target is the high at 10600 but what I would really like to see is a break of this.. if so, we should see a strong move upwards. I could take profits around 10600... to be safe, 10590 has more chance of making it but

January 22, 2013 No Comments Full Story

Post Trading analysis of EURUSD and EURJPY

Post Trading analysis of EURUSD and EURJPY

So looking back on the trading week where we made profit but a lot less than what it could have been. I had mentioned that I wanted to bring my stop to the low of each daily candle but was unable to do this. I took 80 pips on EURUSD and 40 pips on EURJPY. If you look at what happened with EURUSD, you can see where I entered and exited: I got out at 13000 as it was a round number and the shorter timeframe charts showed the resistance preventing the price from moving above this point.. h

December 15, 2012 No Comments Full Story

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