Tuesday, August 30, 2005

EUR/USD 8.30.05

9:00 pm- 1 trade lost

Sorry I couldn't update earlier. My internet has been acting funny. Anyways, I was disappointed today as I thought I had a good trade. At around 8:20 am, I saw 2 consecutive lows and a break of the EU session low. As you can see, things did not go my way. Stop loss was at 2193 and with 3 lots short at 2174 that is -57 pips for the day. Oh well, you can't win them all. I'm happy that I stuck to my trading plan though. Hopefully tomorrow will be better :)

8:00 am- Analysis

Good morning everyone! The Euro made about a 54 pip range during it's session. Right now its 5 day daily average pip range is 91 which gives it about 37 pips of "juice" left. The Euro is hanging around it's low so we'll either see a continuation of the downtrend with a break of the low or a correction with a bounce. Just always remember to be patient and wait for a good signal. I'll be posting throughout the day. Happy trading everyone!

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