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 09, 05:00 GMT
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Ok, so it’s absolutely true that this Australian dude tried to sell his life on ebay. But he didn’t get as much as he thought he would: watch here.
Now, trading can be like that too: we think we’re going to get a lot more out of a trade than we actually do get. Some people have a really hard time with that.
Here’s the next GBP/JPY trade: a close above the blue line should take us to the green line.
Good day, Europeans! Go back to bed, North and South Americans!
Here’s an update on the GBP/CHF. The trade is really moving along nicely now. Look here for the full original post. This is the chart:
I’m in New York, had a great dinner at Rosa Mexicano in Lincoln Center (I would give you the link, but the web site for the restaurant plays music and it’s annoying enough to make you never go to eat there, which would be a mistake), and I’m up late thinking about the GBP/CHF.
Here’s what I am thinking: a break and a close below the blue trendline should take us to the green. Are you tired of me saying that? I love support and resistance. And it’s not a love affair that is going to end anytime soon. Enjoy!
If the pair rises back up and hits the 2.3500 mark, and prints a reversal pattern (a bearish reversal candle pattern like the bearish engulfing pattern, for example) I’d like to sell it for a 100 pip profit target, with a stop loss about 20 pips above the 2.3500 mark.
