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The GBP/USD has been consolidating across the 15 and 30 minute charts as the longer term 240 minute and daily charts are in strong mark down cycles. The longer term charts while tempting because of their strong trends are going to take some time to correct enough for me to get interesting in a swing trade short.
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D'oh! The bearish pennant chart pattern I've been watching with my one good eye indeed broke out last week... but to the upside! Needless to say, my short entry order failed to trigger when the pair rallied upside.
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Remember, macroeconomics is like working with Playdough. When you push on one spot, there is a similar or equal reaction in another...
CFTC Commissioner Jill Sommers and President of NFA, Dan Roth met on Friday. Guess what was discussed?
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Good evening friends! Just wanted to update with my trade adjustment on my short Cable position. Read on for more details...
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After a horrible day yesterday, I was able to bounce back with a +50 pip day thanks to the Cowabunga System. See how it all went down in today's Cowabunga Surf Report. (Video Included)
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The lack of top-tier reports in yesterday's economic calendar was not enough to stop the majors from busting those strong moves. Get in the groove with today's reports by reading my roundup!
In a few hours, we will witness the biggest event in Middle Earth's... errr, New Zealand's history (not really, I'm totally exaggerating)! At 8:00 pm GMT today, the Reserve Bank of New Zealand will announce its decision on the country's benchmark interest rate.
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Good day forex traders! Are y'all ready for some charts? I have the USDCHF, USDCAD, and AUDUSD pairs on today's set. Go check 'em out!
I know how you feel, believe me. You're more than likely still working the "real" job to pay the bills and put treats in your and your family's mouths. Trading is an after work (or maybe during work) hobby, and happens if and when you have enough strength to keep your eyes open. You haven't gained the trading experience to take it full time, but that's the dream. And a great dream it is.
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Yes! I finally caught a break! Things worked out perfectly for me, as the pair bounced from the top of the channel and proceed to shoot down.
The Loonie Adventures of a Forex Noob
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I took a look at Big Pippin's chart art and it looks like the USDCHF is consolidating. Is it time to go long at the bottom of the range?
BabyPips.com is Your Forex Trading Resource
