Forex Euro/ Usd H4 - 04 September 09

Forex Euro/ Usd H4 - As the number shown, 1 and 2 stand for the wave it had form and now it is in the 3rd wave. Usually 3rd wave will be shorter than the 2nd wave. Also the previous candle had shown the long legs, means that it found the temporary support. Let wait see.

Forex Euro/ Usd, Daily - 04 September 09

Forex Euro/ Usd Daily - From yesterday candle , it form a shooting star. Let wait and see if bear will follow up or not.

Forex - Attitude

Someone e-mail me this and would like to share with you all. Human Nature....

Said also Don't Listen
Listen also Don't Understand
Not Understand also Don't Ask
Ask also Don't Do
Do also Do Wrong
Wrong also Don't Admit
Admit also Don't Correct
Correct also Not Happy
Not Happy also Don't Say

Then, how to trade?

Forex Euro/ Usd, H1 - 03 September 09

Forex Euro/ Usd H1 - It found the support as shown with the arrow. The resistant turn support.

Forex Euro/ Usd, H4 - 03 September 09

Forex Euro/ USd H4 - It move close to the ceiling of the channel, let's wait till it break out of the channel.

Forex Euro/ Usd, Daily - 03 September 09

Forex Euro/ Usd Daily - It form a harami for daily candle.

Forex Trading - Why Stop Loss?

In trading, stop loss play a very important rules. This should be the first thing you need to focus on first before the profit. I am not sure about you, but among all the trader I meet that trade without placing any stop loss, often stuck holding on to the losing position. They are hoping for the market to come back some day.... "Some day"? Some of them stuck for more than 2-3 weeks or few hundreds pips. The worst thing is when you are holding on to a losing position for too long, it will effected your emotion on other new trade. Then you will never trade right.
Some times when I think of it, it does not make sense. Most of the traders that stuck with losing position that holding on for weeks are mostly intraday trader.
Knowing how to place your stop loss means how to secure yourself. Just as you are in a boxing match. Which do you think is more important in a boxing match, avoiding from being hit or to the punch? If you cannot protect yourself from being hit in a match, you will get knock down in round one. Is the same in trading, if you do not know how to protect your trade then you get knock down with big loss in the beginning of the day.
Let go your "Hope" method, it does not help you at all. Hoping is gambling and it does not fit in the trading floor.

Forex Euro/ Usd H4 (2) - 02 September 09

Forex Euro/ Usd H4 - It stop at 61.8 fibo. Let's wait for a pull back, once the pull back end and turn back down again that's where you enter short again.

Forex Euro/ Usd, H4 - 02 September 09

Forex Euro/ USd H4 - As you can see that it is moving closer to the bottom of the channel. If break the channel, next target will be 1.4045

Forex Euro/ Usd, Daily - 02 September 09

Forex Euro/ Usd Daily - Finally it broke the support, but still moving inside the daily bullish channel. It is close by to the channel bottom.

Forex Euro/ Usd, H4 - 01 September 09

Forex Euro/ Usd H4 - as shown, it still dangling in the support and resistant level as the arrow pointed at.

Forex Euro/ Usd, Daily - 01 September 09

Forex Euro/ Usd Daily - It still moving in the support and resistant level. Market still not that confident yet to form a new trend. Let wait and see if today be able to break out or not.

Forex Euro/ Usd H4 - 31 August 09

Forex Euro/ Usd H4 - It mentioned in the daily chart it been tangling in between this area unless it break out the support or resistant then it will form a new trend. The blue line indicate the support and resistant.

Forex Euro/ Usd, Daily - 31 August 09

Forex Euro/Usd Daily - Last week had been a directionless slow week, it been dangling in between 1.4406 and 1.4206. Hopefully this week the market will have more confident to form a firm trend.