Trading currency crosses opens a whole new side of the currency markets, as different crosses possess different qualities that can suit any style of trading. Some crosses move fast and are extremely volatile with daily ranges that may exceed over 100 pips. While other crosses move relatively slow and exhibit low volatility, which is more suited for novice traders.
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We were stopped out of a frustrating trade today. At one point we were 2 pips away from hitting our first profit target, but it looks like Euro buying took over and bid the pair back up to our entry point and beyond to our adjusted stop levels. It looks like this pair will… More…
Our last trade idea was triggered shortly after I posted, and we saw a stong rally in the pair from the 61.8% Fibonacci level. Too bad we had only a 25 pip target, because that thing shot up! So, we did well for the week and a look forward to a bounty of inflation data this week from various countries. … More…
It looks like traders and speculators are changing their minds and placing bets that the ECB will actually raise rates this week from 3.75%. Our shorts were entered and we saw some pip collecting, but we met resistence and gave it all back as broad based Euro buying commenced during the Euro session.… More…
The markets are quiet ahead of the Bank of England Interest Rate decision and the Easter holiday, so it doesn't look like we have any trading opportunities at the moment. I'd like to take this bit of down time to introduce the newest team member, Cyclopip! Here's his story: … More…
