Archive for 'How To'
Trading Forex – Cable Upside?
Posted on 05. Oct, 2011 by Jakob.
As mentioned in yesterday’s post, I think we are likely to get a pullback on EUR/USD before we see continuation to the downside. One reason why this might be the place, is partially due to the USD index coming close to the 200 EMA which tends to hold as a strong level of support and resistance. Now if the USD index will bounce on this level, USD crosses are likely to be affected from this.
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Trading Forex – EUR/USD Continuation?
Posted on 04. Oct, 2011 by Jakob.
Trading Forex in a profitable manner requires patience and the ability to follow ones plan. Recent ideas shared here on TradeProfits should be a good indication of exactly that. Now as we are in the week which will end with NFP from US, and lots of other factors to take into consideration, we need to play things carefully. With the recent strong drop in EUR/USD, it can be argued that taking a long would be suicidal, but then again, with a drop like the one we have seen, a pullback is always a possibility.
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Trading Forex – EUR/USD More Downside?
Posted on 22. Sep, 2011 by Jakob.
Yesterday in the beginning of the US session we did see some upside on EUR/USD, trading all the way up to the 1.3800 level, which probably was partially due to some pre-sentiment before the rate decision and press conference, as well as recent talk about the next aid tranche for Greece.
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Trading Forex – EUR/USD & Greece Default
Posted on 13. Sep, 2011 by Jakob.
With the recent rumors about Greece Default we have seen some downside in EUR/USD. Currently the pair trades around the 1.3675 level. Now as always, after a move down like the one we have seen here, there is a good chance of a fairly strong retracement before we see further downside.
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Trading Forex – A look at EUR/USD
Posted on 07. Sep, 2011 by Jakob.
We currently have a very volatile market. Last Friday we had NFP which came out with no change, not reflecting the expectations for the release. In addition to this we had news from SNB yesterday announcing a minimum rate of 1.20 on EUR/CHF which gave us an immediate surge in the pair, moving it up to 1.20 within a few minutes.
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Trading Forex – Currently Long on EUR/USD
Posted on 28. Jul, 2011 by Jakob.
In yesterday’s post I mentioned the 1.4430 level could be a possible level to look for a long trade, if we got confirmation in terms of candlestick formations or reasons in terms of confluence. The pair traded through that level pretty much without any hesitation and there was no apparent reason to go in long at that level, besides the aforementioned reasons of a key level of support lining up.
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Trading Forex – Waiting For a Pullback on EUR/USD
Posted on 27. Jul, 2011 by Jakob.
After a recent break of the 1.4500 level on EUR/USD and a key trendline, a pullback seems like a good possibility which should give us a good chance to get in on a long trade. The pair currently trades around the 1.4520 level and a pullback down around the 1.4430 level could be a possible place to look for a long trade. As always, we don’t enter just because a level is reached, but we look for numerous of reasons for a possible trade, so if the pair does come down to the 1.4430 level, look for candlestick confirmations and zoom in on the short timeframes and keep an eye on price action. Click on the picture below to see a picture of the daily chart on EUR/USD.
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Trading Forex – EUR/USD Down to 1.3700
Posted on 13. Jul, 2011 by Jakob.
Trading Forex is all about planning your trade and trading your plan. Here is my view on todays possible market direction. Make a plan and stick to it.
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Trading Forex – Cable Below Key Level
Posted on 13. Jul, 2011 by Jakob.
Trading Forex is not about being good at spotting the perfect trade, mastering technical analysis, being a fundamental expert, etc. The important aspect is being able to combine several different elements in to a solid trading approach.
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Trading Forex – EUR/USD Before NFP
Posted on 08. Jul, 2011 by Jakob.
Trading Forex is all about planning your trade and trading your plan. Yesterday’s plan did not play out as expected unfortunately. We took a loss and stayed out the rest of the day. Today there should be a good chance to catch a pre-NFP trade. Read the details below.
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