Posts Tagged Forex trading
This is what Friday's trade looked like. You can see that a support was formed at around 10400 and I went long after the second bounce of the support level. Although the price action was still in a downtrend, I felt that we had a good chance of a good move up from this level and hence the long trade. However, I got stopped out as the price action pushed down below support taking out the stop and then finished above the stop again. This to me looks like a push to trigger the stops b
February 3, 2013
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This week we had two trades.. AUDUSD long and EURJPY long. I'll go through both of these and why I entered.
Firstly AUDUSD
[caption id="attachment_7671" align="alignnone" width="580"] Long AUDUSD[/caption]
I went long here as the market had found a base.. it had retraced after a move up and I thought it would actually move above the previous resistance point at around 10600 and if it did, a huge move above. The following day, the market indeed shot up and if I was cautious and doing my
January 27, 2013
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So when the markets opened last night, I saw that there was a bullish pin bar. It was very apparently and had a very long tail which signifies strong buying. I tend to trade with the trend using the moving average line to ensure that I only go long when the price action is above the line and short when the price action below. However, when you get such a strong signal I couldn't just leave it.
So I was rewarded this morning it started going up... my initial trade was long at 10354 with
November 19, 2012
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