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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It’s the weekend, and do you know where your USD/CAD is?
The trendline broke, the trade is open. The stop is down there at the red dashed line, the profit target is the green (base) trendline. This pair is such a dorfwad sometimes; it can break and fake, break and fake, and then finally shoot up to exactly where you would have expected it to go. So expect some grief from this pair along the way. This might be the last trade I take for a while on the pair.
Enjoy your weekend.
Today I did a video update for you. Tell me if you liked it. Tell someone else if you didn’t.
I’d like to buy the GBP/JPY if it falls to 219 and prints a reversal pattern. For 100 pips. 50 pip stop. I’d even consider taking a first position at 219.00 exactly.
I’d like to sell it if it hits 241.00, in the same fashion. Here are the medium term support and resistance levels from which this is based. This will take days or weeks to materialize.
