Posts Tagged Trading
So today I closed my EURUSD long trade which I got in a couple of days ago at 13225. You can see that from the chart where the price is at now.. 13278.
From the Daily chart, you would wonder even why I closed this trade and from the Daily chart it's not clear. However, earlier today, the big green candlestick did not look like this.. the EURUSD market had dropped heavily and looked like it was about to go lower. The blue resistance line which allowed me to go long the first time which was
July 25, 2013
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I shorted Oil (WTI Crude) last week and unfortunately the trade went against me and I lost 200 points. Unfortunately, in trading this happens but over the long term I expect that I will win more trades that I lose so it doesn't bother me too much. Anyway, here's the reasoning behind the trade.
If you look at the weekly trade, you would see that the 10600 level actually was a strong support and resistance line in the past.
Where I have green arrows you can see how the price had reacted
July 21, 2013
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Ok I've gone short on the DOW. I'm seeing a dowtrend in the daily charts.. it's a series of lower lows and lower highs. I believe that the market has just completely it's retrace from the downtrend and now going to make it's way down.
The blue line shows that there has been a resistance where price was contained, this is around 15080. I'm hoping price will head lower to 14650 or so where my target is.
July 1, 2013
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