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.
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