Posts Tagged pips
A couple of days ago, I had shorted the EURUSD forex pair at the point marked above. The price action looked as though it was just retracing before a further fall. I was thinking that a move below 13000 would trigger a flurry and sell trades and the market will drop a few hundred points.
I was a little wary as the downward momentum after I had gone short wasn't really there so I had been moving my stop down as the price action moved down. Today, the market open a little lower but momentum
January 10, 2013
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Today my focus was getting short on the GBPJPY forex pair. I decide this by looking at the daily and 1 hour chart. This gives me a rough idea where I think the market is heading. This is purely a visual thing to see the direction of the trend... nothing complicated.
What is a bit more complex is looking for an entry after you've decided which way you want to trade.
I've annotated the chart slightly differently today and I'll go through it now.
So after deciding to go short in the
March 28, 2012
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A trade that I still have open is the one below. I had went long at 14438 earlier today on the EURUSD and saw that it had failed to go above 14500 and it did make me think if I should close the trade for a healthy 55 pip profit. However, for this trade, I was looking at the 4 hour and the Daily Charts to gauge an entry and they are still telling me that the market is still in an uptrend... I sure hope so. As you can see from the below chart taken at 22:10 UK time, the price action has fallen all
June 14, 2011
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