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.
10:13 AM (GMT+7)
TF 4H Cart
Dollar loss again Euro last night, and already break support at 1.4236. As my previous view now EUR/USD I hope will continue to next support at 1.4359. This ny opinion based on my RSI which is steady above 50's area,previous candle already formed spinning top ( looks like a doji but I think it's not a doji),price moved above EMA 66 (red), EMA 5 (blue) already crossed up EMA 66 and I hope soon it follow bye EMA 20 ( green).
In other side,if EUR/USD could down to recent low (1.4205) again, I think it will push price to 1.4185/70. This suppose turn EUR/USD bias centiment. Next level in downward I concern abaout 1.4141, 1.4044 and 1.3970.
I already take one position buy at market price and I got at 1.4218, my SL at 1.4168 and Target at 1.4310. If Eur/USD goes up as my plan,I will take attention at 1.4273 area, and if at there I don't see indications trend will continue on smaller Time Frame, I will clear my position
UPDATE 1: August 21, 2009 - 11:00 AM
EUR/USD make a top at 1.4275 last night, and in TF 4 H, RSI(14) still hold above 50's area, which mean there still possibility price would try to go up. But I don't like what I've seen on TF 1 hour. So I decide to adjusting my Stop Loss at 1.4188 and lowering my expectation. So I'm lowering my target and change it to 1.4298
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.
Post a Comment