Posts Tagged trading forex

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

Expect the Unexpected when Trading the Financial Markets

Expect the Unexpected when Trading the Financial Markets

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 No Comments Full Story

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