EU trade ideas 02/01/2010
 The EU has descended about 329 pips since last Tuesday giving nice pullbacks on the 1 hr and 15 minute charts. These are the set ups I really like to trade. I am hoping for a pull back to the 3940ish area (the h1 upper trendline) in order to get short and target the 1.3840 area. JANUARY RECAP: January was a tough month. Not only are traders dealing with the winding down of the holiday season but also the 4th quarter earnings reports. It seems as though these days, we now have to contend with the political arena "on a daily basis" also while trading foreign currencies. Even so, we pulled through and have ended the month with some cash in our pockets, 357 pips and a 72% win . To view January results, click HERE Trade opportunities ont he GU and EU today 01/29/2010
Several opportunities have presented themselves on the GU and EU today. We have to keep in mind that we have 4th qtr GDP at 8:30 am est., so we want to adjust our entries and stops accordingly. If it is 30 minutes before the GDP is released, do not enter a trade. If you are in a trade already and are positive, take your profits BEFORE data is released. If you are in a trade and negative and it is a few minutes before the data is to be released, tighten your stops. Ok enough about stops and entries.... The notes on the charts point out my trading ideas for today:     Follow up on EU trade set up 01/28/2010
 As expected, the EUR/USD climbed to the 78.6 and rejected it, giving us our 1.4050 entry and our 1.4000 target for +50 pips. Note to Forex traders.. 01/28/2010
ALWAYS remember to protect your profits and avoid taking unnesessary losses. Never allow greed or ego to play a part in your trading plan. EUR/USD Possibilities 01/27/2010
 The 1.4050 ( the 78.6 fib of the last h1 swing hi to low) seems like a good area to short the EU targeting the 1.4000 level. There is trendline resistance just above and the hi of the last swing hi to low is 1.4086. A stop above the 1.4086 level should be a reasonable stop. Follow up on GU trade set up 01/27/2010
 Just as expected, we took 50 pips on the GBP/USD trade set up posted earlier this morning. FOMC statement is due out in 30 minutes so anything can happen. The YM appears weak at the moment and the Dollar Index still has some upside life left in it. If the FOMC statement does'nt stir up the h4 trend on the GBP/USD, I will look to short again this evening. GU 1 hr trading idea 01/27/2010
 The GU 1 hr chart has set up a possible short trade. The stocs have tested the 90 level indicating over bought conditions. As long as the current candle closes as a doji or a pin bar, the short signal will be promising. A 50 pip gain is not out of the question. The abcaddictsclub group will be watching the EUR/USD very close when the market opens tonight. AUD/USD 01/06/2010
The AU is approaching the Neck Line of the h4 inverse head and shoulders pattern. A 4 hour close above the neck line could send the pair pretty hi into the 9400 or better level. There is strong resistance at 9208 which combined with the daily bearish hidden divergence could slap the pair back down and present a very nice shorting opportunity.  Head and shoulders results 01/06/2010
We were able to snag about 20 pips from the head and shoulders pattern between the ADP report and the ISM report. Markets are a little whippy today. More trading in asia. | What are members saying?
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