Tuesday, July 25, 2006
Learn Online Forex Trading - Its USD/CHF time
Learn Online Forex Trading - Details on my trade on USD/CHF
USD/CHF is one the very trending currency pair in the world on online forex trading. Thats why its a favourite currency pair of many traders for trading forex. This makes the currency pair even more strong to obey forex trading rules.
Now, the details about the online forex trade that I made on this currency pair -
Last start with the analysis -
1. On the 1 hr chart, the currency pair started an uptrend on 23-Jul-06 from 1.2350
2. The currency pair started momentarily retracement on 24-Jul-06 from 1.2480.
3. For this retracement, the 38.2 Fibonacci level is at 1.2430. Please learn this that Fibonacci levels is a strong indicators in online forex trading.
4. Also the 200 EMA is at 1.2425.
5. So, this appears to be very strong area of support in trading this currency pair. So as soon as I get bullish signals, I should enter long.
6. As analyised, thats what happenned as soon as the currency pair hit the 200 EMA. It started moving up and I went long forex trading this currency pair.
So, the details of my online forex trading are -
Trade - Long
Entry - 1.2451
Stop - 1.2405
Limit - 1.2575
Risk/Reward - 1/2.5
Currently I am in 80 pips profit and I have moved my stop to entry point. More updates on this trade tomorrow.
Thats all in today's session. Add this site to your RSS list.
Keep visiting to learn more on online forex trading.
USD/CHF is one the very trending currency pair in the world on online forex trading. Thats why its a favourite currency pair of many traders for trading forex. This makes the currency pair even more strong to obey forex trading rules.
Now, the details about the online forex trade that I made on this currency pair -
Last start with the analysis -
1. On the 1 hr chart, the currency pair started an uptrend on 23-Jul-06 from 1.2350
2. The currency pair started momentarily retracement on 24-Jul-06 from 1.2480.
3. For this retracement, the 38.2 Fibonacci level is at 1.2430. Please learn this that Fibonacci levels is a strong indicators in online forex trading.
4. Also the 200 EMA is at 1.2425.
5. So, this appears to be very strong area of support in trading this currency pair. So as soon as I get bullish signals, I should enter long.
6. As analyised, thats what happenned as soon as the currency pair hit the 200 EMA. It started moving up and I went long forex trading this currency pair.
So, the details of my online forex trading are -
Trade - Long
Entry - 1.2451
Stop - 1.2405
Limit - 1.2575
Risk/Reward - 1/2.5
Currently I am in 80 pips profit and I have moved my stop to entry point. More updates on this trade tomorrow.
So, learn to apply discipline and good analysis while doing online forex trading. This will cause more correct trades and less losses.
Thats all in today's session. Add this site to your RSS list.
Keep visiting to learn more on online forex trading.
