I can't stress it enough, so I'll just repeat what I have just said. Follow the trend, because "trend is your friend".
Another thought is sell high and buy low. That works best in range and swing markets. Doesn't work very well in a strong trend conditions when operating against the trend.
Entering the trade in several orders is also encouraged. This way one could diversify and optimize his profits.
Someone said that those who are patient usually get the largest piece of pie. I don’t know if it’s true, I always thought that the quickest get the largest piece, but it’s not always like that. In forex you can’t rush, especially when making trade decisions and analyzing the market. Right now we are seeing some kind of rertacement and as today is a new week, this vague hourly euro…Continue
On Friday we saw some EUR/USD spikes and nose dives below 1.3224. As today is the new week with less important news, I don't think we will be going further north. It seems that selling the price from 1.3184 (in case of a breakout) with stops above 1.3231 can be a good idea to make some pips. Right now I am still buying the price from 1.3200 level, but with such vague movement, I don't think we can make it back to 1.3299 and higher. My profit targets of long positions are set at 1.3228 and…Continue
Sometimes the price needs to breathe in order to continue it's movement up or down. Right now we're seeing a reversal in EUR/USD and other major pairs and someone is already thinking: "well, this is it, it's over". I can say that it's over when it's over. Right now the indicators still point south for EUR/USD and other major pairs, so it's not over.
We are seeing some reversal, which is good, because when the price goes without looking back it's hard to reenter the trade. In my…Continue
Yesterday EUR/USD went up and almost reached the 1.3200. Right now I expect the reversal to 1.3150, where I am keeping my long orders with stops set at 1.3124. The 4 hour and weekly charts are looking bullish and in case Europe doesn't present any bad news we will be seeing another climb higher. Profit targets for EUR USD are set at 1.3194 and 1.3240. In case your stops are wiped out, I suggest waiting for better opportunity to enter the trade, as we will be entering ranging pattern,…Continue
On Friday I made some long EUR/USD trades from 1.3012 with stops below 1.2995. My trades survived by just one pip and my profit targets at 1.3046 and 1.3080 were reached. Right now I am seeing some indecisive maneuvers from both sides - bulls and bears. Monday has always been the day when the market mostly starts making its own mind about where it should go within a week.
I still haven't…Continue
Yes, yesterday was a perfect day. After selling EUR/USD from 1.3163, two profit targets (1.3127 and 1.3100) were reached in no time. The last one was closed late at night at 1.3050.
Right now I expect some kind of a bounce up to 1.3047 or 1.3080. I am in fact buying two EUR/USD positions from 1.3012 with stops below 1.2995. First profit target is set at 1.3046, second is at 1.3077. Today is…Continue
After the New Years Eve as the Fiscal Cliff question was solved (or postponed...), the markets sighed with relief and the EUR/USD pair went south. It had to be expected since the 1.3300 resistance line held through the whole December and it was obvious that some retracement or even a start of a new trend is imminent. When the US shook off negative pressure regarding the Fiscal measures the investors naturally started buying dollar against the weak Euro, only the stronger currencies like AUD…Continue
Selling EUR/AUD is a very lucrative idea, especially if you look at the hourly time frame which suggests a head and shoulders pattern. The way that the London session has started also suggests entering short positions for EUR/AUD and EUR/USD.
I am selling 3 EUR/AUD positions from 1.2737. Stop losses are above 1.2828. I am targeting 1.2660, 1.2540 and lower.
I am also selling EUR/USD from 1.3220. Stops are above 1.3257. Targets for profit are set at 1.3165,…Continue