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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.

Wednesday, September 30, 2009

Dollar Strenghtening Take a Breath in Asia but Still Remain

09:39 AM (GMT+7)


EUR/USD - TF 4 Hour
Downside on EUR/USD paused by hammer , in my opinion EUR/USD now in rebound as long as not break 1.4652 surely. I think it will try move to EMA 66  (red) area ( 1.4640 - 1.4647 ). EMA 5 and 20 already crossed down to EMA 66, RSI stay below 50's area so my idea still short



EUR/USD - TF 1 hour

There is no bullish sign on TF 1 hour. Just like TF 4 H, price seems like try move to EMA 250 ( 1.4638/47).


I already make pending order sell limit at 1.4637( bid), SL at 1.4660 while target I let it with open target. I'll check it latter


UPDATE 1- 08:01 PM (GMT+7)

I can't control my position this afternoon and when I online I saw that EUR/USD already hit my SL. But I'm still believe that Dollar still powerful. So I decided to sell it  again at  1.4599 (bid), Target at 1.4509 and SL at 1.4645

My decision based on recent  TF 4 Hour and  TF  1 Hour performance which is :

TF 4 Hour:
RSI stay below 50's area, previous candle  already form bear candle, EMA 5 (blue) failed cross up to EMA 20 (green) and already curved down.

TF 1 Hour:
RSI  moved below 50's area,  2 previous candle form evening star, EMA 5 and 20 move below EMA 66

There is news from EUR tonight but I can control it because I have to do somethig and I can't keep on eye it. But I belive that EUR/USD now in progress test 1.4505 so I let it flow as my plan
 TF 4 Hour chart



TF 1 Hour chart




at 9:57 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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