Archive for the Forex trading Category

USDJPY Pinbar trade yields Pips!

USDJPY Pinbar trade yields Pips!

I like pinbars as they show strong buyers (or sellers) in the market. It was last Thursday when I went long USDJPY after the bullish pinbar. The market though had been in a downtrend so it was a risky play but the market was oversold and I was expecting a bounce at some stage. Anyway we went long expecting a movement the following day.. however, that didn't happen. On Friday, the market pushed down and when the markets opened over the weekend, the price action pushed almost to the low of

August 13, 2013 1 Comment Full Story

My Mistake in Closing EURUSD

My Mistake in Closing EURUSD

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 No Comments Full Story

Last weeks winning trades – USDJPY and Gold

Last weeks winning trades - USDJPY and Gold

A good trading week last week. Sometimes just a couple of trades can do it and last week we had two relatively straightforward trades. Firstly, on the USDJPY forex pair, the trend has been up and there was a clear pinbar. We went long on that bar and the following day, the market went up. As it was Friday and I wasn't keen on holding my position over the weekend, I took profits for 80 pips. My Gold trade was actually done a few days before - on Tuesday, shorted at 1242 with a stop at 1

July 8, 2013 No Comments Full Story

« Older Entries   Newer Entries »