Archive for October, 2009
<a href=”http://www.theinsidercode.com/forex-trading/index.php?s=forex+trade”>(there are actual forex trades in an email here)</a> forex trades with the British pound!
<a href=”http://www.theinsidercode.com/forex-trading/index.php?s=forex+trade”>(there are actual forex trades in an email here)</a>
forex trades with the British pound!
However, we do not need to get bullish in terms of trend until this thing breaks about the 5390/5370 resistance point, this triple-top over here. Again, it’s how we break above there. There’s no need to get all freaked out in thinking that we’re going to be millionaires overnight.
What are we looking for tomorrow? Well, we still have quite the resistance area on top of the market here. What I’m going to do is put a triangle - what’s this called? Rectangle. I need to get my seven-year-old in here.
forex trades with British Pound !
forex trades with British Pound !
And that’s why they employ traders like me, because they would tell guys like me, hey, this is what we need to do, drive the pound up above 5000, and then I want you to sell it under 4720, period. And so that has nothing to do with fundamentals, economics, the price of tea in China.<a href=”http://www.theinsidercode.com/forex-trading/index.php?s=forex+trades”>-> this guys trades tell me exactly when to get in and get out! <-</a>.
forex trades with “Quid” (Pound Sterling) !
forex trades with “Quid” (Pound Sterling) !
And let’s say that their contract has certain conditions that if - and this is very common in forex - that if this, the British pound goes above 5000, but then drops below; let’s say, 4720, they get some kind of good thing, right? And so in other words, what the currency has to do is come up and then come down, OK.<a href=”http://www.theinsidercode.com/forex-trading/index.php?s=forex+trades”>-> this guys trades tell me exactly when to get in and get out! <-</a>.
forex trades with pound !
forex trades with pound !
So we’re midway through the week. If we look up here at the daily bars, you can see that the pound is challenging the top end of this resistance, which is really keyed in by this prior high in early April.<a href=”http://www.theinsidercode.com/forex-trading/index.php?s=forex+trades”>-> this guys trades tell me exactly when to get in and get out! <-</a>.
forex trades with the British pound!
forex trades with the British pound!
Today we had an interesting New York session. If you’re following me on Twitter, I was talking about the market just before we had this big move up.
What I was specifically focusing on were the tops here. We covered this in the one-on-one support session. I have actually, amazingly enough, got that uploaded already. In fact, let me pause this and send the email.