Friday February 27

good afternoon! hope someone caught a short (sell) opportunity on the Eur/Usd earlier today. As you might notice, the prevalent trend was DOWN while coming into the London session and price couldn't break the Central Pivot (1.2743) to the upside. This should make you think DOWN only.

When the market is heading Downwards and there's no significant sign of weakness in the trend, don't try to go LONG (buy).

Thursday February 26

Good morning all! As you can see from the charts, we had a positive divergence while coming into the London session this morning. This gives us the inclination that price may rise (which is presently the case).

A good place to enter would be on a break of the 1.2770 Central Pivot. Price is currently testing the Central Pivot but I usually recommend that you don't jump in the first time it ticks above the pivot. It's best to wait for a slight retracement and then enter if and when price breaks through a second time.

The slight retracement usually occurs because there's bound to be some selling pressure at any significant resistance line.

One strategy that'll always help you is to enter trades close to the beginning of a new trading session. Since the London session is the most active of all, it'll be great if you can look for opportunities during that period. I aways like to catch the first proper set-up that occurs coming into the London session.

Of course, several other great opportunities abound throughout the day. The most important thing is to identify which trading period suits you best and make sure you're consistent with it. I always emphasize that the ONLY way you can get good at trading is to actually trade and do it consistently!

I hope you were able to try out some trades today. I had hoped I would get back a bit earlier but I can see there were good opportunities.

For example, check out the opportunities to go short following the divergence that occurred shortly after the opening of the London session. The first trade you could have taken would be a Short (Sell) when price closed below the 1.2861 pivot line around 8:45am GMT.

This would have been good for a quick 30 pips!

Wednesday February 25

Good Morning!

Please make sure you practice taking a trade or two based on the informaion provided in the currency trading manual. If you have any questions, do not hesitate to post them. I will be back on the blog a bit later in the day to do some analysis and answer any questions you may have.

cheers!

Tuesday February 24