Yesterday we had a nice trendline bounce on the Euro. With entry after the turn around it is now up about 100 pips.
[2floatmetatrader]
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The swissy has just spiked up today past its trend line. Its main trend is down so I am looking to trade this short as it moves back south.
- SWISSY RANGE BOX 10 26 09
UPDATE I only got 12 pips out of this before it showed signs of reversal where I dropped it.
Today we have a daily short signal on the Cad supported by the weekly and monthly and the 5M entry. The downside is that the trade is a long ways from the trendline reversal entry line. The upside is it is breaking out of a falling wedge. The analysis is the this is not an ideal trade.
- USD/CAD DAILY ENTRY SIGNAL
update: The Cad did not follow through yet. It has retraced 70 pips since this post.
[floatforex2]
the forex coach says….. Once you read others expectations they become your expectations and from then on your decisions become clouded by the forecast of others.
If you read a review, stop trading until that review has moved from your mind. You can not trade objectively when you EXPECT THE MARKET TO MOVE IN A PATICULAR WAY.
Stick to the trade plan. Wait for your trading signal. Then check the news. Check the long term charts. Then go to smaller charts for entry. SIMPLE SIMPLE SIMPLE.
*Short term traders are traders for a short term! The longer the time frame you base your trades on, the longer you will be a trader!
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EUR/USD 1HR
When the market is trending this is a great way to consider your entries. Enter after the first candle closes on a bounce or pass through the trend line on the one hour chart. “A trade setup should be so simple it is idiot proof. If I can not explain it to my 7 year old then I am on the wrong track.” John Carter (uses TTM Squeeze)
[forex550]
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Continue reading about SIMPLE TRENDLINE ENTRY/EXITS saturday
