Trade setups and other nonsense from Rob Booker, Currency Trader...
... and Derek Frey, Head Trader at Odom & Frey Futures, FOREX & Options.
Support and Resistance Trading DVD series by Rob Booker and Dave Murphy.
Asian Session: Live Market Analysis
by Dr.S.Sivaraman
November 23, 05:00 GMT
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Everyone,
I’m alive! I will be posting more often as soon as I get settled into my new position at Interbank FX. Here is a link to that news:
Interbank FX Hires Rob Booker as Chief Market Strategist
Right now, I’m doing a “Cover it Live” event at FXSteet about the International Traders Conference in October. See you there!
- Rob
It’s great to be back. Here’s the next trade.
Here’s a baseline on the EUR/USD:
The
green baseline will be our profit target on a buy trade. How do we
know when we’re going to take the buy trade? We wait until a blue
entryline has been broken. Specifically, we want to see the currency
pair close above the blue entryline on this 30 minute chart:
The
stop loss is going to be put below a recent low before the blue line
was broken. In this case, as of now that would be down in the 1.4450
area. But I’ll get a more specific level once the trade is close to
opening.