Side ways market what too do
Posted on Thursday, April 29th, 2010 at 10:58 pm.
As you can see the USDJPY is a perfect time too use the method called the box trade and look for the break out and you can use the trading tool Magic stick for this situation. it’s very easy to trade this you put a line on the top using the buystart command and putting your stop loss at the last swing point on the bottom side as buysl command and buytp at the next weekly pivot point. On the bottom draw a line and put sellstart as the command and then put your stop accordingly and there you go you don’t have too stay up all night and wait for the confirming candle stick and let the magic stick do it’s thing. A friendly reminder make sure your computer doesn’t go into the sleep mode or if you have our virtual server you won’t have too worry about a thing just make sure magic stick is turned on and you see a smilely face and the magic show start.
Reversal pattern EURUSD GBPUSD
Posted on Monday, February 8th, 2010 at 11:16 am.
A lot of the Markets are over bought and over sold look for the reversal and trade with a small amount you be able to benefit of these markets. In the Forex i’m looking at the EURUSD GBPUSD to trade to the 1hr gap for my first target if it bridge the 1hr gap then i’m going to the daily gap. Looking at the candle stick pattern it’s hitting a major support resistance level and reversing. If you decide to stay in the market longer than a few days i would recommend you use proper money management and trade with a small amount. EURUSD here are my parameter of the trade. Entry point 1.3683 stop loss at 1.3618 take profit at 1.3798 so it’s a 2:1 ratio set your trade and make some money.
