Hey guys,
I figured it would be awesome if I post my take on a currency pair for the day and show a trade that I have open at the moment. Then, later today, I will re-concile the data and see whether the trade is at a profit/loss and analyse the reasons why it was right/wrong.
So, here's the first one:
24/06/2014 (10:34am NZ time) - USD/EUR currency.
I see a resistance level sitting at 0.73635 and support at 0.73475. The market is pretty flat but there is a downward trend in the higher timeframe, so I have placed a sell trade - selling it at the support line.
Chart attached - as per my post in the intro forum, I am new to this, so I have no idea if this is a good trade or not - but I would like to test my theories and learn from this, so any feedback would be great.
Image attached.
Yash
I figured it would be awesome if I post my take on a currency pair for the day and show a trade that I have open at the moment. Then, later today, I will re-concile the data and see whether the trade is at a profit/loss and analyse the reasons why it was right/wrong.
So, here's the first one:
24/06/2014 (10:34am NZ time) - USD/EUR currency.
I see a resistance level sitting at 0.73635 and support at 0.73475. The market is pretty flat but there is a downward trend in the higher timeframe, so I have placed a sell trade - selling it at the support line.
Chart attached - as per my post in the intro forum, I am new to this, so I have no idea if this is a good trade or not - but I would like to test my theories and learn from this, so any feedback would be great.
Image attached.
Yash
