Friday, August 17, 2007
Forex Day Trading - Pounding by USD
Forex Day Trading - Pounding by USD on all the currency pairs
Did you notice what happenned to forex market in last 4-5 days? Yes..The big USD has hit back on all the currencies..No exceptions (There is one - JPY).
EUR/USD dropped by 350 pints, GBP/USD dropped by 450 and so on and so forth. This was an excellent opportunity to make some great forex pips. I placed trade on EUR/USD and made 155 pips. The market was really great trend wise.
The technical indicators were all holding up - there was a massive MACD divergance on daily chart, the EMA, the stochastic and RSI, all were confirming USD bullishness.
The only thing left to be done was to follow a strong trading system and make good profit using good entry and exit points.
Did you notice what happenned to forex market in last 4-5 days? Yes..The big USD has hit back on all the currencies..No exceptions (There is one - JPY).
EUR/USD dropped by 350 pints, GBP/USD dropped by 450 and so on and so forth. This was an excellent opportunity to make some great forex pips. I placed trade on EUR/USD and made 155 pips. The market was really great trend wise.
The technical indicators were all holding up - there was a massive MACD divergance on daily chart, the EMA, the stochastic and RSI, all were confirming USD bullishness.
The only thing left to be done was to follow a strong trading system and make good profit using good entry and exit points.
Labels: entry and exit, EUR/USD, forex day trading, forex ema, forex macd, GBP/USD, rsi
Sunday, June 17, 2007
Forex Day Trading system - Importance of an oscillator
Forex Day Trading system - Importance of an oscillator such as Stochastic
Lot of people try to place trade using a lot of indicators. Well the more the indicators, the less the number of forex trades one can place since one will wait for all the indiactors to line up which will not happen too often.
More than that it also confuses matter. According to me use of 2-3 technical indicators tops is good enough. Let one be your leading indicator such as EMA crossover or the bounce from fibonacci level. The others of maximum two can be your confirming indicator such as MACD divergance or the stochastics or the RSIs.
The best way to use stochastic which is an oscillator indicator is to check if they are in the overbought level or oversold level. If they are in overbought level, then look for opportunities to sell the currency pair. However if it is oversold, look for the opportunity to buy thye currency pair.
Keep the indicators very limited. Remeber the placing of a forex trade on any currency pair such as USD/CHF or GBP/USD or EUR/USD or any currency pair is all about probability..Its not gaurenteed that the trade will be profitable..However the probability of a profitable trade will be high.
Thats all in this message..Keep visiting to learn more on forex day trading.
Lot of people try to place trade using a lot of indicators. Well the more the indicators, the less the number of forex trades one can place since one will wait for all the indiactors to line up which will not happen too often.
More than that it also confuses matter. According to me use of 2-3 technical indicators tops is good enough. Let one be your leading indicator such as EMA crossover or the bounce from fibonacci level. The others of maximum two can be your confirming indicator such as MACD divergance or the stochastics or the RSIs.
The best way to use stochastic which is an oscillator indicator is to check if they are in the overbought level or oversold level. If they are in overbought level, then look for opportunities to sell the currency pair. However if it is oversold, look for the opportunity to buy thye currency pair.
Keep the indicators very limited. Remeber the placing of a forex trade on any currency pair such as USD/CHF or GBP/USD or EUR/USD or any currency pair is all about probability..Its not gaurenteed that the trade will be profitable..However the probability of a profitable trade will be high.
Thats all in this message..Keep visiting to learn more on forex day trading.
Labels: fibonacci levels, forex day trading, forex ema, forex macd, forex technical indicators, oscillators, stochastics
Saturday, June 09, 2007
A landmark post - USD in massive gains
A landmark post - USD in massive gains
There are 2 points I am trying to cover in this message. The 1st is personnal .. Here it is -
This is the 100 th post on this forex trading blog.. Yes, the overall count has reached triple digits. It started as a small journey with a quick introduction. Now it is a blog where people come regularly to get updates about happenning in Forex market from an angle they can understand very easily. 200+ RSS subscribers are a proof of that.
Out of the last 100 posts, 37 were on common technical indicators such as EMA, MACD, parabolic sar, pivot points. This category seems to be very popular among readers. However the most popular topic has been updates on NFP (Non Farm payroll) fundamental announcement and news.
During the 100 posts I have also mentioned quite a few trading strategy and system. Also, I have recommended the popular ebooks and courses..
The 2nd point I would like to cover in this topic is retaliation of USD against all majors ..USD has been on gaining spree for the last 2 days..It has already moved close to 200 pips against EUR and GBP.. Experts say that it is primarily because of strong rally in stock market or the DOW. However I feel that from technical standpoint also it was due.. The majors had a big run against USD for quite a while. Now the currency pairs will start falling back towards 200 EMA
Thats all in this session..Keep visiting to learn more on Forex day trading.
There are 2 points I am trying to cover in this message. The 1st is personnal .. Here it is -
This is the 100 th post on this forex trading blog.. Yes, the overall count has reached triple digits. It started as a small journey with a quick introduction. Now it is a blog where people come regularly to get updates about happenning in Forex market from an angle they can understand very easily. 200+ RSS subscribers are a proof of that.
Out of the last 100 posts, 37 were on common technical indicators such as EMA, MACD, parabolic sar, pivot points. This category seems to be very popular among readers. However the most popular topic has been updates on NFP (Non Farm payroll) fundamental announcement and news.
During the 100 posts I have also mentioned quite a few trading strategy and system. Also, I have recommended the popular ebooks and courses..
The 2nd point I would like to cover in this topic is retaliation of USD against all majors ..USD has been on gaining spree for the last 2 days..It has already moved close to 200 pips against EUR and GBP.. Experts say that it is primarily because of strong rally in stock market or the DOW. However I feel that from technical standpoint also it was due.. The majors had a big run against USD for quite a while. Now the currency pairs will start falling back towards 200 EMA
Thats all in this session..Keep visiting to learn more on Forex day trading.
Labels: EUR/USD, forex day trading, forex ema, forex macd, forex pips, forex technical indicators, GBP/USD, nfp
Saturday, April 21, 2007
Forex Trading at its best when technical indicators work like they should
Forex Trading at its best when technical indicators work like they should -
A trader of currency market gets a lot of pleasure when the technical indicator s/he has analysed works the way analysis said. So, when someone feels that the currency pair should bounce of a fibonacci level or should bounce from EMA, and if that happens, its terrific.
The same happenned with AUD/USD. My analsis of this currency pair said that it should bounce from 200 EMA. Spot that happenned in forex day trading..I went in to trade as MACD also crossed up, and made 55 pips. Most of the times I use RSI as the trigger. But this time MACD turned out to be the trigerring indicator.
However, still I maintain that the most volatile currency pair is GBP/USD followed by USD/CHF and EUR/USD. They respond to technical indicators very well.
Thats all in this session..Thanks for visiting. Come again to learn more about currency trading.
A trader of currency market gets a lot of pleasure when the technical indicator s/he has analysed works the way analysis said. So, when someone feels that the currency pair should bounce of a fibonacci level or should bounce from EMA, and if that happens, its terrific.
The same happenned with AUD/USD. My analsis of this currency pair said that it should bounce from 200 EMA. Spot that happenned in forex day trading..I went in to trade as MACD also crossed up, and made 55 pips. Most of the times I use RSI as the trigger. But this time MACD turned out to be the trigerring indicator.
However, still I maintain that the most volatile currency pair is GBP/USD followed by USD/CHF and EUR/USD. They respond to technical indicators very well.
Thats all in this session..Thanks for visiting. Come again to learn more about currency trading.
Labels: aud/usd. voltile currency pair, currency trading, EUR/USD, forex day trading, forex ema, forex macd, forex technical indicators, GBP/USD, technical analysis
