Friday 19th November

by 17:26 0 comments
A pretty quiet day really. I was content enough to just observe for the day, happy with the 6% gained over the week. Seeing as I didn't take any trades i'd like to post a picture of hourly EUR/USD for the week. This chart shows a great buy opportunity that passed me by.

photo taken after market close (Saturday morning)

With all the bad news in the media (and everywhere else) about the EUR and Ireland's bailout it could be considered surprising that EUR has strengthened. Not. This chart shows a classic buy opportunity. High volume down bars representing strength and then several tests and no supply areas which would have provided a good area to buy. From the low of 1.3445 it reached a high of 1.3731. Now you tell me, with all this bad news, how did it rally nearly 300 pips / 3 cent?

Whilst I see the overall trend is down the high volume bars were at the bottom of the trend so it's as good a place to buy as any. This represents one of the best set ups for the system i'm currently trading. It's a shame I missed it live but it's good to look back on and study now!





28. Forex. Trading. Music. Beer. Food. Travel.


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