The market didn’t react to PPI or Trade Balance news releases. We watched it sit in a 10 pip range for over two hours without a conservative/repeatable trade opportunity. Then BAMB! Reversals and breakouts with full currency correlation across the board. It seems that the market moved in anticipation to the G7 meeting this weekend. In anycase, another great trading day. Live FOREX Training | EVERDAY! http://www.fxbootcamp.com
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Using Fibonacci ratios to manage your trades efficiently
by Sunil Mangwani
November 23, 10:00 GMT
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Finally, the market broke out of its tight range that lasted about a week. With full currency correlation, we were able to create four trade plans based on Moving Averages, Pivot Points and Support/Resistance. Each plan hit its target on all the major currency pairs. Live FOREX Trainging | EVERYDAY! http://www.fxbootcamp.com
Europe was closed for Easter, but New York was open. The USD was likely to continue its gains from the positive NFP numbers on Friday. With currency correlation, a break of a price channel gave us a target of 44 or the S1 pivot point. The entry was simply a stochastic cross with divergence after a rejection at the 200 EMA. LIVE FOREX TRAINING | EVERYDAY! http://www.fxbootcamp.com
No currency correlation today amoungst the majors. We scanned the market cautiously, looking for an isolated conservative/repeatable trade. The EUR/USD was our best shot. Live FOREX Training | Everyday! http://www.fxbootcamp.com
How do you trade a breakout of a range? Very similar to a triangle breakout. Measure and project! This video includes examples from today’s EUR/USD and USD/CAD pairs. Live FOREX Training | Everyday http://www.fxbootcamp.com
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