| |
currency calculator Article
Below,
you'll find extensive information on leading currency calculator articles
and products to help you on your way to success.
A-look-back-at-forex-trading---3-27-06/23726">a Look Back At Forex Trading - 3/27
By Eddie Yakubovich
I understand that hindsight is 20/20, but I believe that there is still a great deal to be learned by looking back at Forex trading. Although this article was written ahead of the trading action I am going to discuss, by the time you read this the trading activity which we’re discussing will have already taken place.
If you are not familiar with article submission, let me just fill you in on one fact, your article will not be published for several days. I just want to make it clear that none of the information that you are reading has been written after the fact.
We had a strong bounce up on Friday, which if you are not careful could have hurt you. I hope you all saw the reversal indicators, especially on the 4 hour chart.
It gave us a shooting star Doji and a double bottom tweezer. Followed by a sharp angle up reversal of the MACD with eventual cross above the signal line, with the 1 hour MACD already on the buy side of the signal line, and price action going against you, you had to cancel the sell order, if you had placed one.
So much for Friday, what about today. Well the market is banging up against resistance right now trading around 1.7460. This resistance is pretty strong with multiple levels in a tight region which goes from 1.7460 all the way up to 1.7510.
Consolidation should be expected for the next few days with the early bias on the up side, but if the resistance holds below 1.7510
British Pound / US Dollar 03-10
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-03-10-1646-British_Pound___US_Dollar.html" style="font-size:1.2em">British Pound / US Dollar 03-10</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">6 hours ago </span>
<div style="width:80%;">After meeting resistance from former support / the 38.2% of the decline from 15825 / channel resistance, the GBPUSD has rolled over. I favor a drop below 14780 in a 5th wave. Risk can be moved to ...</div>
</div>
GBP and JPY Under Selling Pressure
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexyard.com/en/market-analysis/afternoon/gbp_and_jpy_under_selling_pressure-2010-03-10" style="font-size:1.2em">GBP and JPY Under Selling Pressure</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">The leading events in the forex market today have been the sudden dip in the value of both the British Pound and Japanese Yen. With the GBP already facing sell-pressure from a string of bad data ...</div>
</div>
Plummeting British Pound Leads to Worries of Another Currency Market ?Black Wednesday?
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://moneymorning.com/2010/03/10/plummeting-british-pound/" style="font-size:1.2em">Plummeting British Pound Leads to Worries of Another Currency Market ?Black Wednesday?</a>
<br> <span style="color:#888888;">Money Morning</span> - <span style="white-space:nowrap">14 hours ago </span>
<div style="width:80%;">By Jon D. Markman, Contributing Writer, Money Morning Outside of the earthquake rescue efforts in Chile and the Greek-rescue efforts in Brussels, the big news in the world economy last week ...</div>
</div>
USD Makes Gains Against the GBP and the EUR
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.fxstreet.com/technical/analysis-reports/daily-currencies-report/2010-03-10.html" style="font-size:1.2em">USD Makes Gains Against the GBP and the EUR</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">15 hours ago </span>
<div style="width:80%;">by UFXBank Research USD Dollar (USD) ? The Dollar gained versus the Euro and the Pound and weakened versus the high yielding commodity linked currencies. Stock markets finished higher but weak ...</div>
</div>
British Pound Little Changed in Asia, Industrial Production on Tap Ahead
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2010-03-10-0614-British_Pound_Little_Changed_in.html" style="font-size:1.2em">British Pound Little Changed in Asia, Industrial Production on Tap Ahead</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">17 hours ago </span>
<div style="width:80%;">The British Pound was little changed in Asian trade, treading water near familiar levels ahead of a report that is expected to show industrial production shrank at the slowest annual pace in ...</div>
</div>
The Sovereign Debt Crisis ? Who's Next?
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.istockanalyst.com/mobile/viewarticle.aspx?articleid=3934209" style="font-size:1.2em">The Sovereign Debt Crisis ? Who's Next?</a>
<br> <span style="color:#888888;">istockAnalyst.com</span> - <span style="white-space:nowrap">18 hours ago </span>
<div style="width:80%;">The consensus view is that the Spanish will be the next target if they are unable to get their fiscal house in order. While we will not dispute the fragile state of Queen Sofia's monarchy we ...</div>
</div>
Japanese Yen Benefits From Risk Aversion, British Pound Extends Decline
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/article/winners_and_losers/2010-03-09-1621-Japanese_Yen_Benefits_From_Risk.html" style="font-size:1.2em">Japanese Yen Benefits From Risk Aversion, British Pound Extends Decline</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 9, 2010 </span>
<div style="width:80%;">The Japanese Yen strengthened across the board as investors scaled back their appetite for risk, and is the best performing currency against the greenback on Tuesday, with the exchange rate ...</div>
<a href="http://www.istockanalyst.com/mobile/viewarticle.aspx?articleid=3934894">Demand For Riskier Assets Firms; Dollar Feeling Pressure</a> - <span style="color:#888888">istockAnalyst.com</span><br>
</div>
Neutral on the Yen, but turning Bullish on the Aussie $
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexhound.com/article/Fundamentals/Daily_Reports/Neutral_on_the_Yen_but_turning_Bullish_on_the_Aussie/190110" style="font-size:1.2em">Neutral on the Yen, but turning Bullish on the Aussie $</a>
<br> <span style="color:#888888;">Forex Hound</span> - <span style="white-space:nowrap">Mar 9, 2010 </span>
<div style="width:80%;">CURRENCIES: 03/09/10 Higher closes yesterday for the Canadian and Aussie Dollar along with the Japanese Yen, Euro Fx and Swiss Franc while lower for the British Pound and dollar index. The euro ...</div>
</div>
British Pound / US Dollar 03-09
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-03-09-1549-British_Pound___US_Dollar.html" style="font-size:1.2em">British Pound / US Dollar 03-09</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 9, 2010 </span>
<div style="width:80%;">After meeting resistance from former support / the 38.2% of the decline from 15825 / channel resistance, the GBPUSD has rolled over. I favor a drop below 14780 in a 5th wave. Risk can be moved to ...</div>
</div>
Euro, British Pound Slump as Investors Scale Back on Risk Appetite
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/us_open/2010-03-09-1156-Euro__British_Pound_Slump_as.html" style="font-size:1.2em">Euro, British Pound Slump as Investors Scale Back on Risk Appetite</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 9, 2010 </span>
<div style="width:80%;">The British Pound extended the previous day's decline to reach a fresh weekly low of 1.4938 during the European trade as Fitch Ratings held a cautious outlook for the UK economy, and the currency ...</div>
</div>
we will expect the price action to resume its downward move towards 1.7048.
As we discussed previously, this is a very tough market to make money in. The daily ranges just get too tight to be able to get in trades and hit profit. There have been very few definable significant trend to ride.
It is all the more important to adhere to your risk vs. reward and money management rules, and you follow what the charts are telling you as far as trend direction and support and resistance, you can be very successful.
The importance of a quality trading strategy is exaggerated in this type of market. The best way to establish a strategy is by education.
Learning to develop your own trading strategy is the most important step you can take in your Forex trading career. Get a quality Forex trading education, whether in the form of an elite Forex trading course, or Forex seminar. Article Source: http://www.upublish.info About the Author:
Eddie Yakubovich
Eddie has trained traders for 10 years. HisForex trading course Ready to copy Article in either text or html format:
|
|
