Wednesday, March 17, 2010

EURUSD—dipped to bottom of channel

EURUSD dipped to a low of 1.3738, the bottom of its channel, in a move that was the same size as the first move down. I barely missed getting stopped out on my long I blogged about earlier this morning and I added another long at 1.3744. This pair needs to get moving if it's going to do so and clear out of this channel with a definitive close above 1.3818.

© 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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