Rain's Quote
My first interaction with forex was GBP/JPY, but more deep involved with forex, I learn that it's not about how you make a lot of profit, it's not about how fast you will gaining hundreds of pips. It's all about how you dealing with your psychological factors, how you manage your risk and stabilize your profit. It's true that GBP/JPY could give you hundreds of pips in an hour or less but it could take your all margin either.A fiew month ago, I decided reduce my trade in GBP/JPY and try to play in EUR/USD,It's hard time when I must learn new behaviour becouse trading in EUR/USD is not same thing dealing with GBP/JPY. EUR/USD has own rhythm. Based on that I decided to make this blog, I want to share with everyone about my journey to change my behaviour and I hope,you can feel the same thing, that it's not too late to learn something new and there is always new things to learn in forex market. Don't stop learn,once you stop it is same thing that you are dead. There is a lot thing I want to write but my limitation in english make it hard to me to wrtite, but I don't want give up. I believe, someday english would not be my constraints to write and share with you. My motto : Learn First, Wealth Will Follow.
EURO/USD Strategy, May 25, 2009
I'm still see bullish trend but it's gonna be side away for awhile, becouse it's reach overbought area, and also there is a big news from Euro latter, so I've choose Wait and See.
I will take some action latter in london session...
---------------- 03:39 PM (GMT+& )---------------(update)
here we go:
From 30 mnt chart, EMA 5 already(green) crossing down to EMA 20(blue), next EMA movement possibility try to break EMA 66 (red), candle patern showing bearish patern, RSI below 50 area, resistant shows at the red horizontal line ( 1.4029) and first support to break if price want to goes down in the first blue horizontal line (1.3953) and if break, biger chance to push 1.3904 ( second blue line). Strong suport shows at 1.3829 -1.3805 wich were lot of candle support point. Posibility range before it determine today's trend at 1.4002 - 1.3957.
TF 15 mnt:
EMA 5 and 20 already crossdown and try to continues break together EMA 66, but there is posibility up from candle patern. If price action failed pass EMA 66 surely, I'd prefer goes short, and if it breaking up EMA 66, I'd prefer goes Long after price break it suport that I mention above. I'm consider I'm to rush last few day, now I'm wait with my pending order.
My decision:
1.I've placed Stop Order to buy at 1.4035, SL :1.4000, Target Profit : 1.4075
2.I've placed Stop Order to sell at 1.3950, SL : 1.4005, Target Profit at 1.3910
If price not executed before Opening of Dow Jones market, I'll cancell all my order, If one of my pending order executed, I will cancell order that not executed.
DISCLAIMER
Trading of financial instruments involves substantial risk, including complete possible loss of principal plus other losses and is not suitable for all members of the public. This blog discusses my experiences and my style of trading. This blog is for entertainment and educational purposes only. The trades discussed here are MY trades. You make your own trades and you and only you are responsible for your trades. Ideas and opinions discussed on this blog are not in any way recommendations to buy or sell securities or investment advise.
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