Posts Tagged trading blog
The Euro forex pair looks like it's been downtrending for a while and the recent daily price action has printed two spinning top patterns. This shows some indecision in the markets and to me, looks like we may have reached a short term high before resuming a downward trajectory. In fact, todays price action was mainly south with a little pullback.
I've shorted this at 1.2370 with a stop above yesterdays high at 12460. Looking for a minimum of a 1:1 trade here.. let's see how we get on!
August 8, 2012
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It seems as though it's been a long time since I last trade and indeed it has... I've been extremely busy with moving homes and running various projects. The great thing about the markets is that they are not going anywhere... they are always here and I can always trade. However, a bit like exercise.. if you don't keep it up, you get unfit! However, if you have put in a lot of time into trading, the rot isn't so bad so you should be able to get back into it.
As an experiment, I'm rather int
July 31, 2012
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Remember the DOW trade from last week which I've been following? Today, back to normal trading volumes, the DOW finally showed some strength. It pushed up and closed at the top which is bullish.
You can see where I have drawn resistance, I'm expecting prices to reach here and will take my profit below this level at 12750. I've also highlighted where the pin bar is which brought this trade to my attention.
I don't particularly use indicators but you can see that MACD is starting to turn
May 29, 2012
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