Posts Tagged Trading
As you can see from teh chart, there has bene quite a long consolidation channel.. it's almost been 4 days since the market has been bouncing around 15200 and 15080.
I had two lines, 15209 and 15083 and was looking to take a position if the market went beyond this range.
The market did indeed break above my upper line and I went short with a stop at the bottom of the line, 15083 and a 100 pip limit. However, the immediate short term top was 15220 or so before the market fell.. it's current
July 6, 2010
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![Trading and the Non Farm Payroll Economic News]()
Today at 1.30pm GMT time the Non Farm Payroll economic news hits the markets and usually you would expect some volatility in these markets. Big ticket news items like this can completely mess up your trading system so it's best to avoid it. I didn't trade today but if I had done.. I would have lost.
Although there was movement it was choppy and was just moving up and down with no clear direction....
(You can see some movement when the new release is announced)
There are some people
July 2, 2010
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![GBPUSD trading luck today!]()
I've dropped the chart into the 5 minute chart so you can see clearer.. the upper and lower band today were so close that I felt a bit uncomfortable with the trade... the upper band was at 14836 and the lower was 14819, a mere 17 points which is tiny.
However, I put in the orders and from the graph, my short should have been hit which would have been a loss. It looks like it was within a pip or so... so that was extremely lucky.
The long came on just before 8am however and powered away..
June 23, 2010
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