I am happy to post that my sell order which I opened at
1.3401 closed with a take profit of 50 pips at
1.3348.
So, now I have just 6 open sell deals - 3 at
1.3201
and 1 each at
1.3251,
1.3301
and
1.3351.
I suppose the market if reaches lower then, I would end up in more profits
for the day.
As I had supposed in my last
post, the market did end up
stooping low.
Now, I again get a feeling that the market will go further down from now.
For the same reason, I come up with relative signals as below:
Sell EUR/USD at
1.3401 for a profit of 50
pips.
Sell Gold at
1425.8 with a stop loss of
1430.8 and gain of
1410.8
Sell Silver at
26.001 with a stop loss of
26.501 and gain of
24.501
Buy Gold at
1377 with a stop loss of
1372 and gain of
1392
Buy Silver at
22.499 with a stop loss of
21.999 and gain of
23.999
Apart from that there is one important thing that I want to share. It
is that one cannot fully go by the news and announcements that happen in the
Forex scenario. They are important for any trading, but many a times they could
show an adverse affect to the one that is expected from them.
Like for example the one that announced today. The
German Info climate
released its data today, which came out significantly positive. Naturally, one
would expect it to have a positive outcome on the EUR/USD pair, as it means a
positive affect on the Euro; but alas the announcement created a strong decline
in the pair implicating a rather positive affect on the Dollar instead of the
Euro.
Again the same thing happened just an hour back. The
Standard and Poor data
released which turned out to be positive. Naturally, it could have created a
positive effect on the Dollar, but instead it caused the Euro to go up.
Yes, it is strange, very strange.
I keep observing such phenomena once in a blue moon, but today I posted
about it.
That is the reason I give about 30% importance to forex news and announcements;
and instead go strong with the charts and their analysis.
I hope anyone reading this understands the concept of trading better.
Till then have fun in trading as well as in living.
