TradeProfits

Daily Lesson # 5

Posted on 27. Mar, 2010 by Jakob.

Yesterday I took two profitable trades, and here is a short recap. There was some really good setups and I was only in the market for about one hour in total. Click on the picture below to see a picture of the EUR/JPY on the 15-minutes timeframe.

 Read more... (470 words, 4 images, estimated 1:53 mins reading time)

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Daily Lesson # 4

Posted on 09. Mar, 2010 by Jakob.

Take a look at the GBP/USD 4-hour timeframe chart here.

Although the pair has been consolidating lately with a small retracement, the longer term timeframe is still bearish. Now since March 1st, the pair has been forming a triangle pattern, and yesterday we finally had a real break out. Now let’s zoom in a bit; take a look at the same pair here on the 1-hour timeframe.  Read more... (267 words, 2 images, estimated 1:04 mins reading time)

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Daily Lesson # 3

Posted on 27. Feb, 2010 by Jakob.

Click this picture to see a chart of the USD/JPY pair (Weekly timeframe).

First of all we can clearly see that this pair is in a downtrend, and since November 22nd has started to form a triangle pattern which is identified by the two trend lines. This wedge-shaped pattern is known to produce strong breakouts and this is exactly what happened here on February 25th. First of all, the most important part here, is that we want to trade in the direction of the trend, unless there have been fundamental news which justifies a change in the trend.  Read more... (331 words, 3 images, estimated 1:19 mins reading time)

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