Trade Opportunity EURUSD
Posted on Wednesday, April 13th, 2011 at 9:45 am.
The Euro is currently range bounce between 1.4510 and 1.4453. Most other currencies traded against the USD have seen some losses over the last 2 days except the EUR and CHF. I think this presents a great opportunity to get in on a EURUSD trade. Look for a break of 1.4453 on the 1 hr chart. Preferrably during the London session and the look to ride it down to 1.4400 or beyond.
The mental side
Posted on Thursday, May 20th, 2010 at 1:15 pm.
Whether you have been trading for some time or are new to the currency market, one thing that is crucial for your success is being able to control your emotions. Becoming a successful trader isn’t nearly as much about charts and indicators as you may think. I would say that about 2% of your success will come from the indicators and charts. The other 98% is within yourself. You need to learn to read yourself and judge the market dispassionately. It’s easy to be successful with a demo trading account, but it is another thing entirely when you are trading live. Due to the emotional attachment that we have to money, trading live is much more difficult. If you want to trade consistently, learn to manage yourself and the rest will fall into place.
Euro Pound Pair Overbought
Posted on Wednesday, March 3rd, 2010 at 6:45 pm.
Dr. Blythe here,
Hello again! The Euro Great British Pound currency pair is in the overbought position on hourly and daily charts and we are waiting for the retracement. I am waiting for a break of 0.9051 and then i will take this pair short. This may happen in the next few days so keep your eyes on it. This pair has also not yet touched its weekly pivot point so that is another indicator pulling at the market. Happy Trading.
Forex learning moments
Posted on Friday, February 19th, 2010 at 9:13 am.
Dr. Blythe here,
Yesterday we saw some moves on the USDJPY and the USDCHF pairs to the overbought on the hourly charts. The learning moment today was looking for overbought as well as oversold on the hourly charts too, and not just the daily charts. We talk a lot about overbought and oversold on the daily charts but the market is really elastic on the small time frames too. So keep in mind as your Forex market knowledge increases the market can look to retrace at these levels. Happy Trading.
CAD Core Retail Sales
Posted on Friday, January 22nd, 2010 at 6:15 am.
Dr. Blythe here, Canadian Core retail sales are coming out in about twenty minutes. These are the news announcements that can sway the market. The USDCAD has had a strong retracement and is slightly overbought on the hourly charts so watch for a move to the hourly gap. Happy Trading.
