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Showing posts from May, 2010

EUR/USD - Forex Day Trading

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This is the 2Day 5Min Chart for EUR/USDThe Stop loss at the opening level was taken at 12.05pm with NO loss.No further trading today. Have a great weekend!!!

EUR/USD - Forex Day Trading

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This is the 2day 5Min Chart for EUR/USD The pending Buy order at 12396 was taken at 9.30am with a Stop loss of 20points and profit limit of 60points in place. The market has moved halfway towards our target of 60points and the Stop loss level has been moved to the opening level to protect capital.

GBP/USD - Forex Day Trading

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This is the 2Day 5Min Chart for GBP/USD


The Stop loss was taken at 9.00am with a resultant loss of 20points on the 1st trade.


A pending Sell order has been placed again just below the Pivot point at 14510.

GBP/USD - Forex Day Trading

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This is the 2Day 5Min Chart for GBP/USDThe pending Sell order at 14510, just below the Pivot point, was taken at 8.40am with a Stop loss of 20points and Profit limit of 60points in place.

EUR/USD - Forex Day Trading

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This is the 2Day 5Min Chart for EUR/USDThe market is currently trending sideways.A pending Buy order has been placed just above the high of the sideways trend at 12397 and a pending Sell order just below the low at 12280.

GBP/USD - Forex Day Trading

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This is the 2Day 5Min Chart for GBP/USDThe market is currently trending sideways.A pending Buy order has been placed just above the high of the sideways trend at 14610 and a pending Sell order just below the Pivot point at 14510.

GBP/USD - Forex Day Trading

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This is the 2Day 15Min Chart for GBP/USDI used the 15min time frame to make it easier to see the chart over 3days.The market has been trending sideways with the high of the sideways trend at 14449.2 at 10.30pm on the 25th of May.A pending Buy order was placed just above the high at 14452. This order was taken at 5.40am. The market has since moved halfway towards the profit target of 60points and the stop level has been moved to the opening level.

EUR/USD - Forex Day Trading

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This is the 2day 15Min Chart for EUR/USDI used the 15min time frame to make it easier to see the market over 2days.The market was trending sideways and a pending Buy order was placed just above the high of the sideways trend (26th of May at 6.30pm) at 12245.The pending buy order was taken at 5.05am and the 60points target was reached at 7.35am.

EUR/USD - Swing Trading Opportunities

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This is the 1Year Daily Chart for EUR/USD The market has formed a 'double bottom' (a support). This usually indicates a bullish reversal in the market. This will be confirmed if the market breaks the most recent high of 12672.3 on the 21st of May. A swing trade can be placed to Buy just above the high at 12674.

Market Comments - 5th of May 2010

It's good to be back blogging on the markets!!

There has been a lot happening in the financial markets. The Greek tragedy is still affecting europe with the £120billion bailout of Greece and with more europeans countries (Spain, Portugal and Ireland) on the brink.
The Goldman's Sachs scandal with the on-going investigations and possible criminal charges to be brought against them has also affected the equities markets and also the currency markets.
The impending UK elections on the 6th of May has put the brakes on the GBP/USD. The GBP/USD will probably not start trending till after the elections.


With all this going on in the financial world, it is important to keep abreast with the news and stick to your trading plan.


Today's trades are below. Happy trading!!!!


Regards

Forex Day Trading - EUR/USD

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This is the 2Day 5Min Chart for EUR/USD This market fell about 230points yesterday!! The market usually trends sideways the day after a huge move in the market. Apply good money management today and do not over trade. The market is currently trending sideways. You have a few choices of trades depending on your capital and trading plan. A pending Buy order can be placed just above the Pivot point at 13050 and a pending Sell order just below the 1st Support at 12880 for cautious traders. For aggressive traders, a pending Buy order can be placed just above the sideways trend at 12994 and a pending Sell order just below the support of the sideways trend at 12935.

Forex Day Trading - GBP/USD

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This is the 2Day 5Min Chart for GBP/USD Due to the impending elections in UK on the 6th of May, the GBP/USD is extremely volatile. Trade with extreme care till the 7th of May (day after elections). The market is currently trending sideways. Only 1 cautious trade will be attempted today. A pending Buy order has been placed just above the sideways trend at 15190 and a pending Sell order just below the sideways trend at 15088.