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Reversal pattern EURUSD GBPUSD

Haru — Mon, 08 Feb 2010 18:16:09 +0000

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.

USD is Strong and GOLD is Down

Haru — Thu, 04 Feb 2010 18:58:01 +0000

As you may know the Gold markets correlate with the USD currency pair in the Forex Market. You can see that Gold has dropped down and the NON farm pay roll came out this Thursday. As you can see anything that is trading with the USD has made some big moves today. lf you haven’t taken advantage of this big move today then stand aside until it hit support or look for a reversal pattern or pull back trade for a small amount.

You don’t want to trade against the main trend because the trend is your friend in any market especially the Forex market. The markets should consolidate during the closing of the New York session so wait for the market to break out in a direction.