 Casey Stubbs
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Last Activity: 11-19-2009 03:25 PM
TRADER's Journal
- Why Do I Trade Forex?
- To earn income and have fun.
- What do I risk on a trade
- 1% of my account
About Me
- About Casey Stubbs
- Where I live
- Latrobe PA
- TRADER's Journal
- Why Do I Trade Forex?
- To earn income and have fun.
- What do I risk on a trade
- 1% of my account
Blog
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Eur/Usd up, down, up, down like a see saw. For those of you that remember that wonderful playground toy. You are always moving but you never get anywhere. I have good news though there is a trade setup in all of this.
That is how the Eur/Usd has been trading since the beginning of the month of November. Today the price moved lower in the European session and then began to move back up in the New York trading session. The strong resistance level is 1.5000 and the strong support level is 1.4800. These two levels have been tested several times each.
In the near term there isa wedge forming on the one hour...
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The 1.4825 level is an extremely strong support area as that level has been tested five times in recent weeks. The 1.5000 level is a strong resistance that has been tested several times.
Which ever way the pair decides to go since these support and resistance areas are very strong it will probably be a significant indicator as to which way the trend will move for some time. Keep your eyes on these levels and attempt to do range trading until a clear pattern emerges. Range trading can be profitable and the pair follows a pattern that can be useful to find trading entries. Make sure that you keep watching important news releases...
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The head and shoulders pattern I wrote about in the last article never materialized. This currency is in a range because the market can't decide what to do next.
How long does it take to for a currency to be considered in a range? I don't know but I know that the Eur/Usd is in a range now. The was in an upward moving trend that has slowed down to be in a trading range. The pair crossed the 1.4626 level on October 4th and from there the price moved up to 1.5062. The pair has been in between those two points since Oct 4th.
So now that the trend trading is over with it must be up to range trading to find entries...
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Hello everyone how are you all doing? This is Friday evening and the weekend is coming up. I will be spending some quality time with my kids as well as a little time working and posting here on Winners Edge Trading.
The Eur/Usd had a ranging trading week as there has been mixed news concerning the Dollar. The currency appears to be forming a head in shoulders pattern on the 4hr chart. With the right shoulder just forming right now. This is a classic chart pattern that is an indication of a downward price move.
Lets Take a look at the Chart
4hr chart
On this chart the...
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In the previous post on the Eur/Usd I highlighted the 1.4918 support level and in todays trading that level was taken out an the next support level at 1.4818 was tested. The price stopped at the 1.4818 support level now the pair is trading in a range between 1.4900 and 1.4800.
4hr Chart
The trend overall is still upwards however there is currently a pause in the upwards momentum so it will be important to watch this range to see which way the pair is going to move in the future.
If the pair crosses either support or resistance level that could be an indicator as to which way the pair will continue to trend. The recent failure for the pair to take out the the high because 1.5063 could be...
4hr Chart
The trend overall is still upwards however there is currently a pause in the upwards momentum so it will be important to watch this range to see which way the pair is going to move in the future.
If the pair crosses either support or resistance level that could be an indicator as to which way the pair will continue to trend. The recent failure for the pair to take out the the high because 1.5063 could be...
Recent Comments
Could you please show...
That is not a valid...
Interesting Trade Strategy....
The Resistance and Support...