February 2010 Monthly Archive

EUR/USD Ascending Triangle Set Up Options

The 30 minute EUR/USD has formed an Ascending Triangle. This pattern is also referred to as an asymmetrical pattern since one level is horizontal — in this case the resistance. The horizontal level opens up some potential alternatives to the common momentum set up that is most commonly associated with triangle patterns of any typ Read more

What does today’s dollar continuation mean?

Prices have found not only a continuation of the U.S. Dollar strength today but continues to do so despite equities buying. The breakout through the triangle pattern on the 30 minute chart show’s that the 81.00 was not a level that seller’s were willing to step in at. The key to any breakout is whether or not buyers will support prices when prices pull back. Read more

Why it matters where the Dow goes next.

Forex traders do need to keep an eye on what’s going on in the equities. And while most traders look at the S&P 500 for an idea of what stocks are doing, I take a slightly different tact. Read more

Does the uptrend on the EUR/USD have enough to rally through 1.3800?

The EUR/USD has been rallying across the intraday time frames of the 15, 30, and 60 minute charts. The bounce from 1.3600 has been significant enough to even level the 240 minute chat to the beginning stages of accumulation after a sustained downtrend from 1.4600. Read more

EUR/USD Aggro Swing Set Up Explanation

I’m still in “teacher” mode right now after having visited Korea – teaching traders there – for the past two weeks. I’ll definitely get back to current market set ups this week, I’m still playing a bit of catch-up from my time away from my home office. Read more