Friday 13th November 2009

Friday's trading started with the market trending in the upward direction. A Long trade was signalled when price breached the 1.4894 Resistance line around 10:00am. Entry was at 1.4896 but the market started to reverse and we eventually got stopped-out at 1.4865 around 2:00pm for a loss of 31pips on both positions.

Thursday 12th November 2009

Thursday's trading started out in the downward direction. We were therefore primed for a Short trade and finally found a good opportunity when price breached the 1.4968 Support line around 10am. Entry was at 1.4966 and the first position was closed at 1.4941 for a profit of 25pips. The second position was also closed at 1.4941 around 3:15pm for another 25pips. I actually made 60pips on that second trade but I used a different exit strategy.

Wednesday 11th November 2009

On Wednesday, we had a good opportunity to go Long when price breached the 1.5005 Resistance line around 9am. Entry was at 1.5008 and the first position was closed less than 15minutes later at 1.5028 for a profit of 20pips. The second position was also closed at 1.5028 around 12:45pm for a profit of 20pips.

Tuesday 10th November 2009

Tuesday's trading started with an opportunity to go Long shortly before the opening of the US session. The problem however was that we had strong negative divergence on the 15minute and 1hour charts. We therefore waited for price to confirm it's upward movement after a retracement but it didn't happen.

Monday 9th November 2009

On Monday 9th November, the Eur/Usd started trending upwards and the most suitable entry was signalled during the Asian session around 3:30am. I usually don't like adding such trades to our portfolio because I know there's very little chance of people being awake at that time.

Friday 6th November 2009

On Friday, the markets didn't make any strong moves till shortly after the opening of the US session. This was no surprise since the NFP (non-farm payroll) data was scheduled to be released today. In fact, we try to avoid entering trades before the NFP is released even when it appears to be a good set-up and today was no exception.

Thursday 5th November 2009

On Thursday, the market started out drifting downwards and we went Short when price breached the 1.4824 Support line. Entry was at 1.4823 around 8:00am. The market however reversed and we finally got stopped-out at 1.4856 around 1:45pm for a loss of 33pips on both positions.

Wednesday 4th November 2009

Wednesday's trading started with the market drifting in the upward direction. We encountered resistance at the 1.4769 level and we took a Long position when that level was breached around 1:15pm. Entry was at 1.4769 and the first position was closed at 1.4817 around 4:00pm for a profit of 48pips. The second position was closed at 1.4863 around 10:00pm for a profit of 94pips.

Tuesday 3rd November 2009

We had a beautiful day of trading on Tuesday. There was a clear bearish reversal pattern coming into the London session. We went short when price breached the 1.4769 Support line around 9:00am. Entry was at 1.4766 and the first position was closed at 1.4730 for a profit of 36pips. The second position was closed at 1.4691 around 4:45pm for a profit of 75pips.

Monday 2nd November 2009

On Monday 2nd November, the market started off in the upward direction. We however did not find any suitable entry using our predefined parameters. There was also a divergence trade available around 1pm but I won't take that into account because we had a conflicting signal on the 1hour chart.

Friday 30th October 2009

On Friday, we saw clear reversal patterns on the charts of the Eur/Usd which led us to position ourselves for a Short trade. We eventually had an opportunity to go Short around 3:15pm when price breached the 1.4790 Support line. Entry was at 1.4789 and the first position was closed at 1.4756 for a profit of 33pips. The second position was closed at 1.4712 shortly after the market resumed on Sunday night for a profit of 77pips.