Posts Tagged trading currency
So for those who follow my Twitter feed, you'll note that I shorted the Euro (EURUSD) forex pair last night. The reason why I went short was because you can see that the bullish momentum seemed to have come to a halt... no more upwards movement. Then we got this massive bearish pinbar and that was our cue. I only held the trade from last night but as you can see, it fell like a stone. I don't like hard movements like this as it increases the chances of a pullback before a further movement so
January 3, 2013
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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
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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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