This pair moved strongly, and hit my entry and stop in one candle bar. Lost 32 pips. Ouch! Hopefully we’ll have better luck on the next trade!
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Every day, I will try to find what I believe is the best looking short term currency trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology behind price movements in the foreign exchange markets, so you can learn to analyze your own currency charts and trade on your very own. I will post my ideas and/or reviews through out each session right here, on Twitter and on Facebook.
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Large speculators boosted the value of net long bets on the Greenback yet again. And the latest COT forex positioning report reveals that the Greenback advanced against most of its peers, but mainly at the expense of the Japanese yen. ...Read More