Monday, October 17, 2005

Forex Trading 10/15/06

6:05 pm- 1 Trade lost

There was a false breakout today. The Euro closed 10 pips below the EU session low but unfortunately it was just a fakeout. The Euro then proceeded to bounce back up and ended up hitting my calculated target 1. I entered 3 lots short at 2011 and got stopped out at 2031. Lost 60 pips today. Hopefully tomorrow will be a better day :) I'm getting decent responses for the possible live trading session on Thursday and/or Friday so it looks like it'll happen. I'll give you more info as the week goes on.

8:00 am- Analysis

Good morning everyone! I hope you all had a great weekend. I went to Medieval Times to celebrate a friends birthday and if you've never been there before, I recommend you check it out because it's awesome! Today the Euro made a fairly wide range during the EU session so I'm not expecting much movement but be ready for anything. There are also no big news reports coming out and it is Monday so I think there is a good chance the Euro won't move alot today. However, I will still look for signals. Just be patient and don't try to force anything. Happy trading everyone!

Key Levels:

EU Session High: 2093
EU Session Low: 2021
Calculated Target 1: 2061
Calculated Target 2: 1981

Announcement: I may hold a live trading session this Thursday and Friday depending on the interest level. If you are interested, leave a comment on this post so I can see if it would be worth it to hold one.

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