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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.

Thursday, August 6, 2009

Market Stuck Await For Big News

06: 50 AM (GMT+7)
All pair moving on tight range awaiting for UK MPC statement and UK Official Bank Rate,and EURO minimum Bid Rate, and also tomorow The FED will shake the market with Non-Farm Employment Change,Unemployment Rate and Average Hourly Earnings wich will be the main concern all trader in the world. All moved slowly and boring. Eventhough EUR already break this week high at 1.4444 and make a new top last night at 1.4448, I don't want to take a risk stuck on the market.

My concern in Time Frame 4H does not give me the clear direction, that's also shown on time frame 1 H. I hate fundamental and this week full of big fundamentals,I just stay away on EUR/USD since it make sideaway for last fiew days.

TF 4H:






TF 1 H :






UPDATE - 06:09 PM (GMT+7)


As I said before, I see bullish but already loosing power and getting weak, and In my opinion EUR/USD need a downward for gain and collect more power to jump. Price action in Time frame 4H already touch parabolic SAR and EMA 20, and EMA 5 alredy curved down, this should indicated bearish will happen soon. On TF 1 H, price alreadi break EMA 20 and Parabolic SAR already formed above the candle, which mean it's bigger chance for price action push lower to EMA 250 at 1.4258, and if steady will contiue to 1.4212.


I already take one sell at 1.4389, I put SL at 1.4448 and my first target is 1.4265, and if this going to be as my view, my second target would be 1.4100



UPDATE: Friday, 07 August 2009 ( 08:27)

EUR/USD near on my target, but seems like NFP would make it higher. I'll try to keep on my plan, but for safety procedure I'm now adjusting my Stop Loss at 1.4379

at 6:50 AM  

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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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