Friday, September 16, 2005

EUR/USD 9.16.05

9/17- 1 Trade won

Once again, I'm sorry for the late update. I swear, for some reason on Friday when I'm done with everything, I don't even like thinking about charts :) Anyways, this was a very small but fairly easy trade. I took this signal because of the 2 lows and also because it was a good break of the EU session low. I entered 3 lots short at 2228 with a s/l at 2247 and a target of 2219. My target was hit at 9 am and I closed 2 lots and moved my last lots stop to b/e. Normally I would've moved my last lots stop to the high of the candle that hit my target but the high would've been higher than my original entry point. That's why I just moved it to breakeven.

Results: +18 +0 -9(spread) = +9 pips

8:00 am- Analysis

Good morning everyone! The Euro made a 50 Pip range last night and is currently hanging around the low. It still boggles my mind as to why the Euro has not moved at all this week. My only guess is that people are waiting for the interest rate decision next Tuesday. It's also strange because the GBP made a nice move during it's session 2 nights ago. I really don't know what to expect today because this whole week has been crap, but I will be patient and wait for a good signal or a nice breakout. The TIC data comes out today, but we'll see if it even moves the market. If you don't feel comfortable trading today and want to take today off, I don't blame you. It might even save you from making an unnecessary trade. I, on the other hand, will trade if I see something good because I'm just crazy like that :) Happy trading everyone!

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