Forex Day Trading Room

EUR/USD is continuing down side pressure and price action has been following the underside of the 34 EMA on the 15 min chart, and the 34 is under the 89 EMA as well. We are at a critical area right now as a break of the 1.3500 could give us legs to the downside OR this could be the area of support that, if strong enough, could send the markets back up for a short time. One of the reasons we are so careful at an even figure is that this is the area that THEY like to run past 10/15 pips and then reverse. We have not traded so far today as the volume has been weak and our EMA line have been so close together but not crossing. JJ at Ace Trader once told me that the biggest mistake he sees is that new traders think that they must be in the market. I think that is true, but the best trade is the one that comes to you and makes sense. There are always two or three good profitable trades a day. FXDMG

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