Friday, February 12, 2010

USDCAD—Déjà vu all over again

My long from 1.0522 stopped out at breakeven. This is just one of those days. I have just gone long again at 1.0527. On the 15-minute chart you can see a Gartley pattern (outlined in blue) so that gave me the incentive to try again. It's not a perfect Gartley but it may be close enough. We'll see.

Here's the 15-minute chart:

© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.

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