Tag: Technical Analysis

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

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Step by step formula to perform a world class Daily Forex Technical Analysis

I’m a firm believer that good analysis is always better than having good system. You can have both of them of course, but sometimes we forget about how important our own analysis is.

First, you need to decide what currency pairs to trade and what direction to trade them.

To get this information, you need to turn to the long term charts, such as 4 hour charts, daily or even the weekly charts.

Here is a good example:

AUDNZD Analysis

AUDNZD Analysis, Technical Analysis

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