Thursday, January 6, 2011

USDCHF—Narrow range

I have two long positions—one from .9338 and one from .9490. I took partial profits on the former at +325 pips.

Since eight yesterday morning, the pair has been in a narrow 74-pip range, along with EURCHF, EURJPY, GBPJPY, USDJPY and USDTRY. This is hinting at market uncertainty for all currencies vis-à-vis the yen and the Swiss Franc. We'll have to wait and see.

© 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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