Tag Archives: Trading Forex
Trading Forex – EUR/USD Ready for Further Downside
Posted on 20. Jan, 2012 by Jakob.
Trading Forex – Market Outlook for January 20th 2012. EUR/USD has been trading higher all week long. It has surged from a low around 1.2620 on Monday to a new high today around the 1.2970 level. This is a move of more than 300 pips to the upside which without a doubt will make a lot of trades question new lows in a near future. There has been a lot of buzz that traders should now start to look for long positions on this particular pair. I think the move up we have seen this week is nothing more than a pullback due to profit taking. Since the end of October 2011, the pair has plummeted by more than 1500 pips so a pullback is only a natural reaction to such a massive move.
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EUR/USD and Non Farm Payroll
Posted on 05. Jan, 2012 by Jakob.
Going through the different time zones on a chart can be a really healthy choice every now and then; this is specially true if you have been starring at the 5-minute chart all day long. Yesterday we have had a really good move down on EUR/USD and today we will get the first Non Farm Payroll numbers for 2012 which could cause some volatile moves in the market, so make sure to play it safe.
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Trading Forex – Perfect Trade but Still in Range
Posted on 06. Dec, 2011 by Jakob.
In yesterday’s post Trading Forex – EUR/USD after NFP I mentioned a good possible short trade on EUR/USD around the 1.3460 level if we got a 4-hour reversal candlestick formation. We got a perfect formation, close to a pin-bar and I took a short trade at the close of the 4-hour candle with an entry at 1.34628 with an initial 50 pip stop loss. The trade is currently 90 pips in profit and I am keeping a close eye on this trade around London open. Post a comment below if you had a chance to get in on this trade.
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Trading Forex – EUR/USD after NFP
Posted on 05. Dec, 2011 by Jakob.
The latest trade I mentioned was back on Thursday December 1st, where I wrote a blog post saying there was a good possible trade on EUR/USD if you took a long around 1.3450 with a 50 pip stop loss. If you took this trade, you should have been able to grab close to 100 pips in total.
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Trading Forex – EUR/USD Massive Correction
Posted on 01. Dec, 2011 by Jakob.
In yesterday’s post Trading Forex – Perfect 1.3440 Re-Test, I mentioned the possibility for a short trade, and early in yesterday´s London session, I took a short trade with a 50 pip stop loss. The trade came up to around 60 pips of profit, so hopefully those of you who were in on the trade had a chance to move stop loss to break even. Once news hit the wire about the coordinated action from central banks, I got stopped out at break even. Yesterday’s price action is a perfect reminder that we should always make sure to have a stop loss in place when taking any trades.
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Trading Forex – Perfect 1.3440 Retest – Now What?
Posted on 29. Nov, 2011 by Jakob.
For those of you who read today’s outlook had an idea I was looking for a possible short around the 1.3440 level. Unfortunately I wasn’t able to place a trade today once the level was reached but if you did, this would have been close to a perfect trade. The level was spot on as solid resistance, and the pair is now trading back down at the 1.3330 level. So basically the pair is right back at the same level as where it started the day. So where do we go from here?
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Trading Forex – A bit of Possible Upside
Posted on 29. Nov, 2011 by Jakob.
In yesterdays post, I mentioned a possible setup for a short trade. We took a short trade at 1.3374 and if you got in on this trader, there was a possibility to grab around 90 pips in total. As we did have an initial 50 pip stop loss, I was hoping for a bit more and chose to move my stop loss to break even, but we had a strong pullback during the Asian session, and the trade is now close to the entry level. I hope you had a chance to grab some pips from this trade.
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Trading Forex – EUR/USD – Upcoming Week
Posted on 27. Nov, 2011 by Jakob.
Trading Forex can be a tough challenge and specially in days where volatility seems to be over the top. During such times, we need to remind ourselves how important it is to plan your trade and trade your plan. Read todays outlook and know what to look for in tomorrow’s trading session.
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Storm Warning In Effect
Posted on 23. Nov, 2011 by Jakob.
Two days ago, I received an email from Oanda with the following subject: Forex Market Volatility Advisory.
“Prior to the 2008 recession there was a sharp increase in exchange rate volatility. Three years later we are witnessing another dramatic uptick in currency price instability—this time triggered by the eurozone debt crisis.”
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EUR/USD – Rate Cut and NFP Later today
Posted on 04. Nov, 2011 by Jakob.
If you followed the idea on EUR/USD posted here on the latest post, you should have been able to lock-in somewhere around 100 – 140 pips as the price action of EUR/USD on the day of FOMC played out well in accordance with technical key levels. Yesterday however, I tried to short EUR/USD, and in spite of the fundamentals released yesterday, the pair continued to rally throughout the end of the US session so we took a hit on that one.
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