Forex Day Trading Room

EUR/USD Congratulations to those of you who were scalping the 1min / 5min charts. You should have shorted at 1.3415 or there a bouts and you are now in pip heaven. keep your eye on the 3/5 EMA on the 5 min chart as this is either the point of continuation or reversal. I personally don't like to give back too much profit on a retrace so I would advise keeping a tight stop and look for a new entry in either direction. FXDMG

Forex trading - live day trading course and currency trade room.

Forex Day Trading Room

EUR/USD [caption id="attachment_739" align="alignnone" width="300" caption="FXDMG"][/caption] Here is a section of my 5 min chart that shows the range we are in. Notice that there are several opportunities to get a 5 / 10 / 15 pip trade. If you use the 1 min for entry level, you have a high probability of getting a few pips in profit. ALSO use the 1 min chart for exit as well. You may be premature in getting out but remember, you'll never go broke taking a profit. FXDMG

Forex trading - live day trading course and currency trade room.

Forex Day Trading Room

EUR/USD We has seen four failed attempts to approach or pierce 1.3400 the figure. IF the price action does drop below 1.3400 be careful as this is a favorite trick to engage new sell orders and then quickly retrace, pivot and head back to higher 1.3400 numbers. This is only a caution as it may very well be that the market is going further down BUT wait for a good signal before committing. FXDMG

Forex trading - live day trading course and currency trade room.