Posts Tagged stochastics
I mentioned that I went on Simon Grinter's Forex seminar not so long ago... well, finally, I got a chance to put on his 'weekly breakout' trade. I put in an order to go long at 211.05 with a 100 pip limit and stop and waited....
I woke up this morning to find that my trade had been triggered and that I was already 20 pips up. By the time I got to work, my trade was about 70 pips up. There was some resistance around 212.00 so I took profit when it eased off (you never know, it may tank from he
June 16, 2008
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I saw a nice descending triangle form on the 5 min SP charts today as you can see... I have drawn in the descending triangle on the chart and the baseline. I shorted at the top of the triangle but as it had already made almost a triple bottom, I was expecting it to fall through netting big bucks! However, the fourth time it reach the baseline, it didn't fall through but bounced up stronger and through the triangle, taking out my stop. I feel frustrated that it didn't work out.. I was a nice +2 p
June 11, 2008
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I went long GBPUSD at 1.9555 with my usual 50 pip trailing stop. Unfortunately for me, it spiked down, took out my stop and then continued on it's merry way topping 1.9670 at one stage which is over 100 pips away. These things are frustrating but they happen. Oh well, I took a 50 pip loss.
June 11, 2008
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