Welcome to my Trading Blog

Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Thursday, May 20, 2010

Further Healthy Reversal on EURO/USD and its Trade Set up

If you refer to my posts being posted earlier on 20,May,2010, 03:02 a.m.(Last no.Forth Post),entitled Technical Analysis on EURO/USD, , my subsequent  proposal to set up a BUY(Long) trade at 1.2440-1.2450, you then shall be NOW on course to get a profitable trade, Right Now the proposed resistance at 1.2520 has turned into support !!

Always keep your position light with lower leverage, with tight Stop loss and Trailing stop to protect your profits,As ALL the above proposed trades are very SHORT  TERMS and your maximum profit limits may only be around 100 pips only !!

The next resistance will be 1.2590-1.2600, This healthy Reversal shall be sustainable TECHNICALLY !

A break above 1.2600(The Upper TREND RESISTANCE LINE) may yield uncertainty and indecision, AND we must be cautious at this level, as it may either nose dive downward  or move up gradually with high volatility.!! Breaking the critical next resistance at 1.3100 will confirm Real /Strong Bullish Reversal ( PLEASE REFER TO THE CHART IN THE POSTS  ENTITLED " Technical Analysis on EURO/USD " around 1 day ago)

HAPPY  TRADING !!
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)