www.forexforum.gr is theplace were you can find free trading systems and the results for almost 9 months now, from Northern Lights Strategy. In http you can find more information about Northern Lights Strategy method.In www.forexlegion.com you can find our basic forex school in Greek language.More languages on the way. Lets see a trade today with two positive factors in our side. Late in the evening an RSI divergence in H1 chart is formed pointing upwards.The pair made a double bottom and I have placed a trap above the previous high which would be in the middle of a 00 battle too. So the order is triggered and I have picked some creamy pips in a half an hour trade. Here is the last juicy part after we have secured the trade .
With the USD being a bit rangy today working our way to today’s FOMC statement, we focused our attention on other currencies. While the Yens rocked the house, we also had a solid plan setup for the GBP/USD for a long off previous support, as well as ema, and weekly central pivot point overlaps. This is a pretty typical setup all the time for us but what made today’s long rather difficult was that major British news, in the form of GDP, was due out. Normally not a problem, just wait for it to come out and then trade right? Well when you have very high confidence in a Technical setup that you wait several hours for, and that entry finally arrives two minutes before a major news release… Well let’s just say one can become conflicted. Not taking the trade means you did not trade your plan and you will kick yourself when the entry does not return. Taking the trade prior to news could result in a very fast 40-50 pip loss which may also cause you to kick yourself for trading so close to news. This is one of those situations which is a personal choice and can be stressful. However, once you have traded for a good bit of time, you will surely discover that the best technical setups often Do occur just prior to news releases, go figure. Ultimately one must make their own decisions and stick to them through thick and thin. In this case our plan worked out tremendously well as the GDP came out in our favor and boosted us directly off our technical level for nearly 150 pips, not too …
FOREX VIDEO | New York Session Review | March 23, 2011
Posted by admin on March 26, 2011 at 4:29 pm
The recently beleaguered US dollar found some traction today against the European currencies. The EUR/USD currency pair fell 60 pips from its New York session high as the market awaited the results of a vote by Portugal’s parliament on a new austerity bill.
FOREX VIDEO | New York Session Review | February 25, 2011
Posted by admin on March 2, 2011 at 12:52 am
History on the currency pair known as cable repeated itself in two ways during today’s New York session. For the second day in a row, the GBP/USD fell, this time more than 80 pips from its session high. Pound dollar established its New York session low near 1.6030 on 4 of the first 8 trading days of the year, and did so again today.
FOREX VIDEO | New York Session Review | February 18, 2011
Posted by admin on February 23, 2011 at 8:06 am
Lorenzo Bini Smaghi, an Italian economist and member of the European Central Bank’s governing council, in an interview with Bloomberg: “It is a key challenge for monetary policy to avoid spillovers and maintain inflation expectations in check … This requires the ability to take pre-emptive actions if needed.” Those comments by Smaghi, plus renewed chatter of ECB buying of peripheral debt, gave the euro a lift during today’s New York session. The EUR/USD currency pair rose more than 160 pips from its low of the day before ending the trading week near 1.37.