Hi guys
I have decided to start posting my trades, and the rational my limited experience provides here, in the hope of learning more.
So, to begin, I have just placed the following order.
USDCHF - Short at 1.5590, sp 1.6670 tp 13590.
I have placed this trade for the following reasons:
1) The last few days have all traded in a narrow range, with a high degree of indecision. It has ranged for a week, with all attempts to continue the move up faltering.
2) MACD shows that selling pressure is increasing and buying pressure is slowing
3) I am looking at fibs not only to help determine trend, but to set stoploss, take profit and entry point.
I will try and improve at explaining my thoughts, but bear with me!
Comments please?
http://img185.imageshack.us/img185/5241/image2pj.jpg
I have decided to start posting my trades, and the rational my limited experience provides here, in the hope of learning more.
So, to begin, I have just placed the following order.
USDCHF - Short at 1.5590, sp 1.6670 tp 13590.
I have placed this trade for the following reasons:
1) The last few days have all traded in a narrow range, with a high degree of indecision. It has ranged for a week, with all attempts to continue the move up faltering.
2) MACD shows that selling pressure is increasing and buying pressure is slowing
3) I am looking at fibs not only to help determine trend, but to set stoploss, take profit and entry point.
I will try and improve at explaining my thoughts, but bear with me!
Comments please?
http://img185.imageshack.us/img185/5241/image2pj.jpg