Monday, August 01, 2005

EUR/USD 8/01/05

1:00 pm- 1 trade lost

Not a good day for me. I came close to hitting my target (within 3 pips) but it never did hit. So, today was a loss of 60 pips with 3 lots. Mondays can be rough. It's ok though. I take it in stride. I know there will be plenty more good trades. Hope you all did well.

Results: -60 pips

7:45 am- Analysis

Hello Everyone. Here is the same chart I posted this weekend with the Euro's current price. As you can see, the price bounced off of the bottom channel of the 1hr. chart and is at the top of its upper channel. For today's US session, I think we could either see a bounce back down towards the lower channel or a continuation of the breakout. The Euro has moved about 60 pips already so I'm not sure how much steam it could have left. My gut is telling me that we will see a bounce down. Be sure to wait for a good size candle before taking any trades today. I'll keep you posted on the message board if I take any trades myself. Have a great day everyone, and happy trading!

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