March 3, 2009 06:17

Forex Signal – EUR/USD Resistance Trade

By:

3-3-09

3:26a GMT – We picked up two 60 pip trades off of yesterday’s buy signal while strong support kept our trades from ever getting far into the red. However, as I said yesterday only my short-term outlook for the pair was bullish. Over the rest of this week the pair still has mixed signals but has more overall bearish signals so I will switch to selling resistance now.

Trading Idea: Nearest resistance is in the 1.2615 zone and I will look for selling opportunities in this area. Tight stops as signals are still mixed. Short targets down to 1.2575 and 1.2485.

(click to enlarge)
 

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5 Comments on "Forex Signal – EUR/USD Resistance Trade"
  1. Reply
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    Comment left on:
    March 3, 2009 at 08:21
    edwin says:

    good n thanks

  2. Reply
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    Comment left on:
    March 3, 2009 at 16:39
    Dimitri says:

    When you mention ‘tight stops’ in your Trading Ideas, what more or less do you mean? 50points? more/less? Just wondering, thank you!!

  3. Reply
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    Comment left on:
    March 3, 2009 at 16:53
    Dimitri says:

    Hi again Mark, Just found what I was looking for on your website. Thank you!

  4. Reply
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    Comment left on:
    March 4, 2009 at 23:56
    richmond says:

    hi, mark, i just signed up for your signals and i want to know what is your winning percentage?

    thank you.

  5. Avatar of piphut
    Reply
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    Comment left on:
    March 5, 2009 at 04:59
    piphut says:

    Richmond,

    To be honest I’ve never tracked the win percentages of the signals I put on PipHut. I know my own personal win percentages but I trade more than what I post here. I talk about it in the “about me and piphut” link on the side but I started this site not as a pure signals site but as an educational tool and forum for other independent traders. There seemed to be such a lack of quality information that beginning and intermediate traders could actually use out there that I decided to start posting my analysis for the EUR/USD along with my comments once a day and the site has really found a spot among traders.

    Back to your question though all of the signals I have ever posted are still available to you at http://piphut.com/category/news-and-analysis/ so if you really wanted to go back and look feel free to!

    As I talk about in the “using my signals” I never intended for this site to be where you trade exactly what I say, when I say. How do you learn anything from that? The purpose of piphut is to show other traders what another independent trader in the market is doing and how he is doing it so that traders grow their knowledge base. As one long-term piphutter put it: “I check your site first thing in the morning. If we both agree a pair is moving in a certain direction that day I know it is going be a good day :)”. The point being I don’t trade for you. I want PipHut to be another source of information for you to trade better.

    Hope that helps and happy pipping,

    Mark

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