Tag: forex signal

Here is a breakout signal, are you going to take it?

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:

EURUSD

EURGBP analysis, EURUSD Analysis, forex signal, Fundamental, Technical Analysis

Continue reading

Long signal in the CADJPY (with good Risk-reward ratio)

Having a good risk-reward ratio on your trades is key to have good results in the long run.

What would you think about a risk-reward ratio of 9:1?

What that means is that I’m trying to get 9 times what I’m risking on that particular trade. For instance, if you have 20 pips at risk, I’ll be shooting for 180 pips…

This type of trades is what makes me feel (very) comfortable about the way I trade.

Think about it, how many successful trades like this one you would need a month? (hint: only one)

Here is the chart:

CADJPY

Details of my trade:

CADJPY Analysis, forex, forex signal

Continue reading