weekly trading signal and pattern 06-11.07.08
- on 07.06.08
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update:
Gbp/Usd got up over 2.0005 on tuesday and fell wednesday morning due to expected poor economic UK data to 1.9845, so you should have been able last week to grab (if you took my recommended 1.9950-2000 entry last sunday night) at least 100 pips. if you kept longer you could make even more pips after the Trichet speech thursday, whereafter the pound collapsed to 0.9794.
For this coming week i only have one entry to give and this with a tight stop loss, its USD/JPY 107,10-14 sell. Its a strong resistance zone from daily downtrend line and former uptrend line as well as fibonacci resistance (lows 9.6.08 to high 16.06.08).stop loss would be around 107.50.
After the Trichet speech where he dissappointed all future rate hike expectations but at the same time terrible US datas (unemplyment rise, ISM) and all indicators in no-mans- land its not possible to give more entries at this time.
I will eventually make an update during the week.
GAP strategy:
EUR/USD opened at 1.5698 in relation to the friday close 1.5708 and closed this gap indeed in about 2 h time. EUR/JPY closed friday at 167.72 but opened sunday evening at 167.58. An escellent trade and the 12 pip gap was also filled in less than 10 minutes!
charts to this message as usual see http://forexmaster.over-blog.com
Have a good trading week!
Risk Disclosure: Trading foreign exchange carries a high level of risk, and for sure is not suitable for all investors. Before deciding to invest in foreign exchange you should carefully consider your level of risk appetite. The possibility exists that you take a loss of some or all of your initial investment. You should be aware of all the risks associated with foreign exchange trading, and its recommended to seek advice from an independent financial advisor. In no means there are made trading recommendations on this site, this is only for educational purposes. If you decide however to invest your money, its on your very own risk and you should only take only money what you can afford to lose.
Tags: forex, good, indicator, money, tradeGbp/Usd got up over 2.0005 on tuesday and fell wednesday morning due to expected poor economic UK data to 1.9845, so you should have been able last week to grab (if you took my recommended 1.9950-2000 entry last sunday night) at least 100 pips. if you kept longer you could make even more pips after the Trichet speech thursday, whereafter the pound collapsed to 0.9794.
For this coming week i only have one entry to give and this with a tight stop loss, its USD/JPY 107,10-14 sell. Its a strong resistance zone from daily downtrend line and former uptrend line as well as fibonacci resistance (lows 9.6.08 to high 16.06.08).stop loss would be around 107.50.
After the Trichet speech where he dissappointed all future rate hike expectations but at the same time terrible US datas (unemplyment rise, ISM) and all indicators in no-mans- land its not possible to give more entries at this time.
I will eventually make an update during the week.
GAP strategy:
EUR/USD opened at 1.5698 in relation to the friday close 1.5708 and closed this gap indeed in about 2 h time. EUR/JPY closed friday at 167.72 but opened sunday evening at 167.58. An escellent trade and the 12 pip gap was also filled in less than 10 minutes!
charts to this message as usual see http://forexmaster.over-blog.com
Have a good trading week!
Risk Disclosure: Trading foreign exchange carries a high level of risk, and for sure is not suitable for all investors. Before deciding to invest in foreign exchange you should carefully consider your level of risk appetite. The possibility exists that you take a loss of some or all of your initial investment. You should be aware of all the risks associated with foreign exchange trading, and its recommended to seek advice from an independent financial advisor. In no means there are made trading recommendations on this site, this is only for educational purposes. If you decide however to invest your money, its on your very own risk and you should only take only money what you can afford to lose.
Interesting - because that is the same thing I found out last Thursday.
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