Well, another week of chart watching is coming up. I look forward to nailing these support and resistance levels again.
As I will discuss later, it is important not to be lulled into a state of laziness due to the fact that we are near the same price levels again.
Every night presents new support and resistance [...]
Posted in Blog | Tagged 41006, a, at, back, forex, look, trading
We will once again look to the super resistance level @ 1.7600, to protect our trades. We took an aggressive look last night, on split sentiment amongst ourselves, and as usual the less aggressive or more conservative traders won the day.
They won the day big, some of them captured 120 pips last [...]
Posted in Blog | Tagged 4706, a, at, back, forex, look, trading
We have been lucky over the past few weeks to be able to tell you about our good trade nights, well today we will tell you about a bad one. Personally I was stopped out of both of my trades last night for a 80 pip loss.
While it is not pleasant, it’s [...]
Posted in Blog | Tagged 4506, a, at, back, forex, look, trading
Last night is what we call a good no trade night. Remember taking no trade is taking a position, and often the safest position. We had several good reasons to take a short position around 1.7360.
Unfortunately the market just dropped, all night, never taking the bounce up we look for our [...]
Posted in Blog | Tagged 40406, a, at, back, forex, look, trading
Looking at Friday’s trades reminds me of the importance of multiple technical indictors. When I was writing Friday’s newsletter, I spoke of several indicators, which lead me to believe Cable was going down. Lets review:
First we would like to decide if the up swing will continue or not, and looking at the 1 [...]
Posted in Blog | Tagged 4306, a, at, back, forex, look, trading
Most of us know that wine comes from grapes that are aged. But have you ever wondered what helps the grape age properly and why red wines need more time to age than white wines?
The process of aging starts immediately after the grapes are picked, crushed and pressed. The grapes are then put into [...]
Posted in Blog | Tagged a, and, at, look, red, white, wines
