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A-look-back-at-forex-trading---4-3-06/24851">a Look Back At Forex Trading - 4/3 By Eddie Yakubovich Looking at Friday’s trades reminds me of the importance of multiple technical indictors. When I was writing Friday’s newsletter, I spoke of several indicators, which lead me to believe Cable was going down. Lets review:
First we would like to decide if the up swing will continue or not, and looking at the 1 hour chart we do not believe it will. We have just had a steep angle cross of the MACD to the sell side of the signal line, and the 15 minute MACD continue to be strong on the sell side. The slow stochastic on the 1 hour chart had a steep angle cross several hour ago and both line are steeply heading down.
Based on this information we correctly predicted the market was going down. Now many of you would ask me why not just get in your trade and ride it down.
Hind site being 20/20, I asked myself the same question, But in my personal trading style, I used 1.7460 as my entry, which means I missed getting in my trades by a frustrating 4 Pips.
The simple fact is 1.7460 was a good entry, we were trading @ 1.7452 when I set the trades at 12:00, you can not expect the market would not go up 4 pips to get me in, that is just unrealistic.
So once again I missed out on a very big night, of 150 Pips, but I have to come to the realization the market is completely random and although I was able to predict the direction and the levels, you still need a little good luck every once in a while to help you make a big trade. Many more times than not you will get in
Forex - Canadian Dollar May Falter On Weakening Global Picture
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<a href="http://www.forextv.com/forex-news-story/forex-canadian-dollar-may-falter-on-weakening-global-picture" style="font-size:1.2em">Forex - Canadian Dollar May Falter On Weakening Global Picture</a>
<br> <span style="color:#888888;">ForexTV.com</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">RISK DISCLAIMER: By using this web site you agree to its terms and conditions. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of ...</div>
</div>
Forex: USD/CAD tumbles to 1.0292, 3-day low
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=d17c3a7a-e9b4-4400-9cae-1579864a1b97" style="font-size:1.2em">Forex: USD/CAD tumbles to 1.0292, 3-day low</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">FXstreet.com (Córdoba) ? The Canadian Dollar erased losses and turned higher against Greenback as stocks recovered in Wall Street. USD/CAD jumped to 1.0375 (daily high) after the release of US and ...</div>
</div>
Forex spread betting: EUR CAD in focus
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.spread-betting.me/forex-spread-betting-00404.html" style="font-size:1.2em">Forex spread betting: EUR CAD in focus</a>
<br> <span style="color:#888888;">Spread Betting for Me</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">If you don't have the time to concentrate on placing your trades then you are doomed. A few rules to making your way to a successful spread betting strategy. We bring those looking at forex spread ...</div>
</div>
Daily Forex Update: EUR/CAD
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.actionforex.com/index.php?option=com_content&view=article&id=119009:daily-forex-update-eurcad&catid=191:daily-forex-technicals" style="font-size:1.2em">Daily Forex Update: EUR/CAD</a>
<br> <span style="color:#888888;">Action Forex</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">After a week of hard-fought gains and higher lows in the EUR/CAD, the Euro has weakened slightly against the Canadian Dollar and corrected lower intraday. After exhausting at the resistance of the ...</div>
</div>
Canadian Dollar Wipes Out Intraday Gain
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forex-rateit.com/forex-news/canadian-dollar-wipes-out-intraday-gain.html" style="font-size:1.2em">Canadian Dollar Wipes Out Intraday Gain</a>
<br> <span style="color:#888888;">Forex Rate It!</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">After reaching an intraday high of 1.0302 against the US dollar, Canadian dollar moved back to the 1.0380 area. Canadian dollar lost its strength to wipe out most of its intraday gains. The pair ...</div>
</div>
Canadian Dollar Forecast to Break Below Narrow Range
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/ssi/usd-cad/2010-07-29-1526-Canadian_Dollar_Forecast_to_Break.html" style="font-size:1.2em">Canadian Dollar Forecast to Break Below Narrow Range</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">USDCAD - The ratio of long to short positions in the USDCAD stands at 2.57 as nearly 72% of traders are long. Yesterday, the ratio was at 2.19 as 69% of open positions were long. In detail, long ...</div>
</div>
Drop in Crude Oil Weakens CAD
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.fxstreet.com/technical/analysis-reports/daily-currencies-report/2010-07-29.html" style="font-size:1.2em">Drop in Crude Oil Weakens CAD</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">by UFXBank Research USD Dollar (USD) ? The Dollar was mixed against other major currencies in Forex Trading after worse than expected US data on durable goods orders that came at -0.6% vs. 0.6 ...</div>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2010-07-30)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://uk.ibtimes.com/articles/20100730/canadian-dollar-cad-technical-major-currencies-2010-07-30.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2010-07-30)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">The pair is moving within a very narrow range that has not changed the harmonic pattern expectations suggested yesterday; thus making us hold onto yesterday's expectations intact without any ...</div>
</div>
Westpac Exits Its Bet on the Canadian Dollar Rising Against Swiss Franc
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.bloomberg.com/news/2010-07-29/westpac-exits-its-bet-on-the-canadian-dollar-rising-against-swiss-franc.html" style="font-size:1.2em">Westpac Exits Its Bet on the Canadian Dollar Rising Against Swiss Franc</a>
<br> <span style="color:#888888;">Bloomberg</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">By Lukanyo Mnyanda - Thu Jul 29 13:45:29 UTC 2010 Westpac Banking Corp. exited a bet that the Canadian dollar would rally to its strongest level this month against the Swiss franc after the loonie ...</div>
<a href="http://www.businessweek.com/news/2010-07-29/canadian-dollar-rises-first-time-in-3-days-as-commodities-gain.html">Canadian Dollar Rises First Time in 3 Days as Commodities Gain</a> - <span style="color:#888888">BusinessWeek</span><br>
<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1377435">Canadian Dollar Advances Further Against Major Rivals</a> - <span style="color:#888888">RTT News</span><br>
<a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/cad/2010/07/30/TOF730cad.html" style="color:#009900">Daily FX</a>
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| EXCHANGE RATE
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<a href="http://www.dailynews.lk/2010/07/29/ExchangeRate.asp" style="font-size:1.2em">| EXCHANGE RATE</a>
<br> <span style="color:#888888;">Ceylon Daily News</span> - <span style="white-space:nowrap">Jul 28, 2010 </span>
<div style="width:80%;">Exchange Rates on 28.07.2010 (1) The average rates of the following currencies quoted by commercial banks in Colombo for Telegraphic Transfers (TT) at 9.30 am are as follow: Currency Buying Rate ...</div>
</div>
that trade, it just was not to be last night.
Tonight we are trading around 1.7330, our first region of resistance is in the 1,7380 range, and a second region around 1.7420. Strong support exits From 1.7310 to 1.7280 levels.
We have several reasons to believe the upcoming week should have a significant increase in volatility. We will have to watch closely this week as the news unfold to decide how it will affect the market and our trades.
You can also use these same techniques to successfully pick your our trades, just like we do. With the proper forex trading education there is no reason you could not be making the kinds of trades we are make, and discussing in our articles.
Let's face it, whether it's a Forex Trading Course, or a Forex Seminar, you NEED a Forex Trading Education Article Source: http://www.upublish.info About the Author: Eddie Yakubovich Learn about Eddie’s Forex Trading Course and his Forex Trading Blog or his Forex Seminar. Ready to copy Article in either text or html format:
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Forex - Canadian Dollar May Falter On Weakening Global Picture
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forextv.com/forex-news-story/forex-canadian-dollar-may-falter-on-weakening-global-picture" style="font-size:1.2em">Forex - Canadian Dollar May Falter On Weakening Global Picture</a>
<br> <span style="color:#888888;">ForexTV.com</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">RISK DISCLAIMER: By using this web site you agree to its terms and conditions. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of ...</div>
</div>
Forex: USD/CAD tumbles to 1.0292, 3-day low
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=d17c3a7a-e9b4-4400-9cae-1579864a1b97" style="font-size:1.2em">Forex: USD/CAD tumbles to 1.0292, 3-day low</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">FXstreet.com (Córdoba) ? The Canadian Dollar erased losses and turned higher against Greenback as stocks recovered in Wall Street. USD/CAD jumped to 1.0375 (daily high) after the release of US and ...</div>
</div>
Forex spread betting: EUR CAD in focus
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.spread-betting.me/forex-spread-betting-00404.html" style="font-size:1.2em">Forex spread betting: EUR CAD in focus</a>
<br> <span style="color:#888888;">Spread Betting for Me</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">If you don't have the time to concentrate on placing your trades then you are doomed. A few rules to making your way to a successful spread betting strategy. We bring those looking at forex spread ...</div>
</div>
Daily Forex Update: EUR/CAD
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.actionforex.com/index.php?option=com_content&view=article&id=119009:daily-forex-update-eurcad&catid=191:daily-forex-technicals" style="font-size:1.2em">Daily Forex Update: EUR/CAD</a>
<br> <span style="color:#888888;">Action Forex</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">After a week of hard-fought gains and higher lows in the EUR/CAD, the Euro has weakened slightly against the Canadian Dollar and corrected lower intraday. After exhausting at the resistance of the ...</div>
</div>
Canadian Dollar Wipes Out Intraday Gain
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forex-rateit.com/forex-news/canadian-dollar-wipes-out-intraday-gain.html" style="font-size:1.2em">Canadian Dollar Wipes Out Intraday Gain</a>
<br> <span style="color:#888888;">Forex Rate It!</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">After reaching an intraday high of 1.0302 against the US dollar, Canadian dollar moved back to the 1.0380 area. Canadian dollar lost its strength to wipe out most of its intraday gains. The pair ...</div>
</div>
Canadian Dollar Forecast to Break Below Narrow Range
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/ssi/usd-cad/2010-07-29-1526-Canadian_Dollar_Forecast_to_Break.html" style="font-size:1.2em">Canadian Dollar Forecast to Break Below Narrow Range</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">USDCAD - The ratio of long to short positions in the USDCAD stands at 2.57 as nearly 72% of traders are long. Yesterday, the ratio was at 2.19 as 69% of open positions were long. In detail, long ...</div>
</div>
Drop in Crude Oil Weakens CAD
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.fxstreet.com/technical/analysis-reports/daily-currencies-report/2010-07-29.html" style="font-size:1.2em">Drop in Crude Oil Weakens CAD</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">by UFXBank Research USD Dollar (USD) ? The Dollar was mixed against other major currencies in Forex Trading after worse than expected US data on durable goods orders that came at -0.6% vs. 0.6 ...</div>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2010-07-30)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://uk.ibtimes.com/articles/20100730/canadian-dollar-cad-technical-major-currencies-2010-07-30.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2010-07-30)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">The pair is moving within a very narrow range that has not changed the harmonic pattern expectations suggested yesterday; thus making us hold onto yesterday's expectations intact without any ...</div>
</div>
Westpac Exits Its Bet on the Canadian Dollar Rising Against Swiss Franc
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.bloomberg.com/news/2010-07-29/westpac-exits-its-bet-on-the-canadian-dollar-rising-against-swiss-franc.html" style="font-size:1.2em">Westpac Exits Its Bet on the Canadian Dollar Rising Against Swiss Franc</a>
<br> <span style="color:#888888;">Bloomberg</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">By Lukanyo Mnyanda - Thu Jul 29 13:45:29 UTC 2010 Westpac Banking Corp. exited a bet that the Canadian dollar would rally to its strongest level this month against the Swiss franc after the loonie ...</div>
<a href="http://www.businessweek.com/news/2010-07-29/canadian-dollar-rises-first-time-in-3-days-as-commodities-gain.html">Canadian Dollar Rises First Time in 3 Days as Commodities Gain</a> - <span style="color:#888888">BusinessWeek</span><br>
<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1377435">Canadian Dollar Advances Further Against Major Rivals</a> - <span style="color:#888888">RTT News</span><br>
<a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/cad/2010/07/30/TOF730cad.html" style="color:#009900">Daily FX</a>
</div>
| EXCHANGE RATE
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailynews.lk/2010/07/29/ExchangeRate.asp" style="font-size:1.2em">| EXCHANGE RATE</a>
<br> <span style="color:#888888;">Ceylon Daily News</span> - <span style="white-space:nowrap">Jul 28, 2010 </span>
<div style="width:80%;">Exchange Rates on 28.07.2010 (1) The average rates of the following currencies quoted by commercial banks in Colombo for Telegraphic Transfers (TT) at 9.30 am are as follow: Currency Buying Rate ...</div>
</div>
This is the process where a trader simultaneously buy one currency and sell another.
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