Hope your weekend was nice and relaxing because the market are going get a little crazy this week…
There are a ton of important announcements this week, but the most important of them all is the FOMC rate statement…
Will they rise the interest rate?
EURUSD, EURUSD Analysis, EURUSD signal
Hey how is your trading going? Actually… let met take a guess!
If you have been trading the EURUSD… you are not doing “that” well…
How do I know this… well, take a look at the following EURUSD chart:
It’s been almost impossible to trade in the last 45 days… notice how the big moves happened during important announcements, and as you already know, its very difficult to trade them.
If you’ve been successfully trading the EURUSD I’d like to hear about it… let me know in the comment section.
Now, if you have been looking for trades on other pairs or crosses, such as the AUDUSD… you might be doing a better job…
So… did I miss?
AUDUSD Analysis, EURUSD Analysis
In the last few weeks I’ve been posting my analysis on the EURUSD, and even when there are other currency pairs (I think) that have a clearer market condition, traders seems to be more interested in the EURUSD.
Do you have any idea why there are plenty of traders that just focus in the EURUSD?
I’d like to know that…
First things first…
EURUSD Analysis, support and resistance
Last Tuesday I told you I wasn’t going to trade any breakout in the EURUSD… Here Tuesday’s chart:
I said that I was going to wait for my signal AFTER the breakout because it was trading at The SF Box.
Anyway, the EURUSD broke both sides of the range.
Here is the chart:
breakout, EURUSD Analysis
It’s always very important to perform an analysis BEFORE you start looking for trade opportunities.
Trading without an anlaysis would be like trying to get from place A to place B in an unknown city, without a roadmap… just following our gut feeling.
It doesn’t make sense does it?
Well, the same goes for currency pairs, if you do your analysis, then you can have your trading plan, you know what the market needs to do in order to start looking for trade opportunities…
Anyway… here is my trading plan for the EURUSD
breakout, EURUSD Analysis, pullback
Look, I’m going to be straight to you, there is no other way to get consistent results but having a trading plan.
You can get a thousand pip killer trade, but if you have no way to replicate the same results in the future, it wont help much in the long run.
Having a trading plan makes your life easier, helps you trade with less stress, which is what we all are looking for, aren’t we?
Having a trading forex trading plan is probably the most important factor to get consistent results.
It’s like having complete roadmap: where you need to go, what you need to do, where you need to stop, everything you need. This way, everything becomes much easier.
See it for yourself,
EURUSD, EURUSD Analysis, trading plan
Last Thursday I posted my analysis on the EURUSD, I was waiting either for a breakout or a rejection of the short term resistance level.
If you were watching the market, you already know the EURUSD broke through that resistance level, so long opportunities are still in play.
How do I know this?
Take a look at these charts. First the long term chart:
breakout, EURUSD Analysis, forex
Hey trader, hope you are cashing in pips so far this week…
I’ve got a signal to go long on the EURGBP, but before I get into the details, let me talk to you a little bit about a post I did last week.
Last week I wrote about the EURUSD, I thought it was in a bullish condition and it seemed like a good idea to go long.
Just after I published my analysis I received a few emails telling me: if I wasn’t aware of “things” in Europe, how could I recommend going long, it is going to fall like a rock, etc.
You see, I don’t trade the “why”, in fact, for me, I believe that the fundamentals are not important (for trading). Of course I keep track of them, but I never use them to take trading decisions.
There is one principle in Technical Analysis, which is: all information available in the market is reflected in price (included information about fundamentals). Ok?
By the way… the EURUSD did go up:
EURGBP analysis, EURUSD Analysis, forex signal, Fundamental, Technical Analysis