Wednesday, November 10, 2010


While I believe in my early morning analysis and went long at .8529, performance so far is less than stellar. The pair is being weighed down by Euro in general and by the move up of Cable. The hourly chart shows that for the last three hours EURGBP is hammering out a base. If this base fails, that is if there is a break much below .8525/00, I'll probably stop and reverse, looking for additional moves down.

Here's the hourly 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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