Saturday, December 16

Today Market on Eur/usd Dec 09

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Forex Analysis Blog

Improve my Trading by Losting 30 pips on EUR/USD

Take a look @ my 4 hour Chart on EUR/USD. On my Last trade, I did open a Long position yesterday on Dec 09 2010 2:00 GMT. If you read my previous post, I did say I will EXIT the Trade if the candlestick is going downward and touch the Ichimoku Kinko Hyo (blue highlight). After 4 hour on @ 6:00 GMT, the candlestick is change from Bullish to Bearish and it touch the Ichimoku Kinko Hyo. I exit the trade and lost 30pips.

What next…
Eight Hour after, the Bearish Candlestick finally break below Ichimoku Kinko Hyo. I place a Sell EUR/USD I am making +40pips so far. Well this is not important right now. Let’s talk about what I learn on the last trade and How I will improve my trading system.

Looking back on my Last trade. I find out that I should wait until the MACD crossing alert have a Bullish Arrow if I want to place a buy position on my last trade. Another important Indicator THV Trix still have a Bearish crossing. Therefore, I should wait both MACD and THV Trix to have a Bullish Trend. Another thing I find out is I should looking at a Smaller Time Frame when the next candlestick appear on the 240min chart.

Here are what I add on my trading system:
Make Sure Both THVTrix and MACD are in the “Same Page”!

Here is the Chart of the Day

Take a look at the 240min Chart on EUR/USD

344630-1a2162a0.gifI am Shorting EUR/USD and making around 20-30pips so far. However, you can see the THV Trix seems going to  have a Bullish crossing. Look at the THV Trix carefully, you will see one line is green and one line is red. In other word, the faster moving average is bullish and the slower moving average is bearish. In the situation like this you are not sure if the trend is going opposite or keep going Bearish. Therefore, I will exit the trade if the candlestick touch the Ichimoku kinko Hyo because it is a fastest way to exit the trade.

Other Indicator
Momentum, Stochastic, CCI are in the Bearish Trend. The different is the Stochastic looking to have a Bullish crossing soon. Still Stochastic is below 50. Even though there will have a Bullish crossing on the Stochastic, we still need to wait until it is over the 50 level line.



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