Comments on: Forex Signals – EUR/USD Approaching Support; No Clear Trend

By: Edward

Edward — Tue, 16 Mar 2010 20:46:26 +0000

Ado, I agree, it’s been holding tight in the low 1.0140 range and 0.135 with a tight SL might work. Over the last few days, it’s made a few mini long runs.

By: Markus (Sweden)

Markus (Sweden) — Tue, 16 Mar 2010 20:45:04 +0000

When i saw the shooting star on 30 chart, i thought it looked like what you were looking for in the “more aggressive short”. (But i might have missunderstod that one a bit.) Nothing happend so i was thinking to close it but i let it run and hit my sl later. Anyways… Didnt think of looking at lower wicks like that before, i think i learned something new just now. Cheers!

By: Ado

Ado — Tue, 16 Mar 2010 20:20:26 +0000

Hmmmm, Edward I was thinking to go long at 1.0135, with a SL 1.0127 which is its S2.

By: piphut

piphut — Tue, 16 Mar 2010 20:19:42 +0000

@Paul, a few quick comments:

While you can do perfect analysis and still lose a trade (that is why my “learn forex #1″ article is on money management – http://piphut.com/learn-forex/learn-forex-1-money-management/ ) the shorting signals on the EURUSD were not all that great today. There was only 1 candlestick I considered shorting on the 1h chart, and that was the 13:00 gmt shooting star. I didn’t take it because, as I put in my analysis, shorting was the aggressive trading for the day and the only thing aggressive today were the bulls. To illustrate that from 08:00 to 14:00 we didn’t have a lower wick longer than 7 pips while the bulls had pushed the price up over 100 pips – not the kind of price action to encourage a bearish trade.

By: tuctuc

tuctuc — Tue, 16 Mar 2010 20:18:25 +0000

Ado,
what is your trading idea on the usd/cad

By: Edward

Edward — Tue, 16 Mar 2010 20:17:00 +0000

Hey Ado, The usd/cad is very intriguing as it hasn’t been this low since 7-24-08.

By: Markus (Sweden)

Markus (Sweden) — Tue, 16 Mar 2010 20:12:56 +0000

I think its a good idea not too care too much if your in the big moves of the day or not. And probably limit oneself to 1 maybe 2 trades a day. reason for that would be, somedays it just doesnt work nomatter how nice a shooting star it is. Chasing the prices and try to get a position on a day like today is very dangerus.

By: Ado

Ado — Tue, 16 Mar 2010 20:02:59 +0000

You guys are not trading in cad/usd? I want to trade atleast 1 winning trade after 3 losing trades today.

By: Paul

Paul — Tue, 16 Mar 2010 20:01:51 +0000

On the contary, I believe there were some solid S&R lines and some solid candlesticks today none of which delivered. Im thinking more and more that technical analysis alone is not enough. It needs to be mixed with fundamentals and needs to be dynamic and not static. Nothing is a given in this game. I got hurt big today, but learnt valuable lessons. My strategies were perfect but the market worked against them. C’est le vie.

By: tuctuc

tuctuc — Tue, 16 Mar 2010 19:57:57 +0000

lets see what happens at 1.3800 on euro and 1.5278 on cable .

i will be looking for a aggressive short with a tight target and stoploss .