Forex day Trading System - EUR/USD is looking bullish

Forex day Trading System - EUR/USD is looking bullishI was looking at the 1 hr chart today and it sooms that the EUR/USD is looking bullish.. Here are the reasons -1. On the larger trend (Daily chart), the currency pair seems to have made a double bottom.2. The support seems to be at 1.2900 levels which is a major supportg as well as 50% fibonacci level.3. So, the currency seems to be going up on

Forex day trading system - Its Non Farm Payroll Time again

Forex day trading system - Its Non Farm Payroll Time againThis friday is 2-feb-2007 and guess what its NFP time again..One of the most volatile 15 min. in any particular forex calender month..The average pip move is in the range of 100-150 pips in just few min. when the news come out..No wonder its one of the most favourite time for some of the traders and for rest its about the time when they

Forex Day Trading System - Continuing on Money management

Forex Day Trading System - Continuing on Money managementOne important point that I missed in yesterday's post is that trade with discipline..Which is about following the rules of your trade..If the technical indicator of your analysis such as EMA, RSI, fibonacci etc are saying to exit, then exit..Don't hold on to the trade thinking that it may yield more profit when indicators are saying that it

Forex Day Trading System - Money Management

Forex Day Trading System - Money ManagementCharlie, one of very few people and a regular reader of my blog asked me a very important question, yet so frequently overlooked by novice traders. The question was "What do you mean by money management"??I am glad you asked..Money management is very important in any online business, let it be commodity trading or forex trading or options trading or

Forex day Trading System - Rally of USD

Forex day Trading System - Rally of USD against all majors and MinorsUSD dollar has rallied tremendously against the majors (EUR, GBP, CHF) and minors (AUD, NZD)..For AUD/USD it was due since the currency pair has been trading very near to weekly highs. I guess today will be a day for correction, essentially profit booking..The limit of correction can be 38.2 % fibinacci levels of USD rally. Then
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