Post your live Forex trades here...
- Thread starter xelite777
- Start date
Seems like a non-event so far.
Coming up next is the the Reserve Bank of Australia meeting minutes at 9:30 PM New York time.
Hope this will move the Forex market, yawn yawn
+25 pips, moving stop to break even.
Trade has now been abandoned (9 pip loss).
Reason: Winning day-trades rarely spend almost 12 hours going nowhere before moving in our favor.
Short (winning) AUD/CAD position is still active.
very good entry. Though I'd have waited for 113.00
plus spread.
Thanks SmallStops.
A buy order at 113.00 makes no sense as far as my system is concerned. In fact it would invalidate the whole logic behind this trade.
What time frame are you using?
Here is something to keep in mind.
If a currency breaks a x.xx50 or a xxx.50 or a xx.50 level to the upside (x represents a number) , it usually goes to the next level : the x.xx80 or xxx.80 or xx.80
In other words, it moves at least 30 pips higher.
If it cannot break that 50 level, it usually returns to the 20 level, 30 pips below.
Some interesting trading systems have been created around that simple idea/observation ...
If a currency breaks a x.xx50 or a xxx.50 or a xx.50 level to the upside (x represents a number) , it usually goes to the next level : the x.xx80 or xxx.80 or xx.80
In other words, it moves at least 30 pips higher.
If it cannot break that 50 level, it usually returns to the 20 level, 30 pips below.
Some interesting trading systems have been created around that simple idea/observation ...