The GBP/CAD Pair presented a break from the SurpriseBox to the upside on the 8h chart. The original target of 1.6350 was reached. Unfortunally, it retraced to the box before rebounding and according to the rules of Booker the position should had been liquidated then. I got out with a 50 pip profit but it had gone 50 pip additionally before going down to present level.Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.
Trading Spot Forex, Equities and Futures using "Long Term Moving Averages" as Support and Resistance. The strategy consist of breakouts from the 800 or 200 simple moving average (sma) Bollinger Band. Will take into account the 800sma, 200 sma, the 50 sma and recent high/lows as support and resistance. Reversal patterns "double bottom" or "double top" near a Bollinger Band will trigger a trade.
Friday, November 5, 2010
Blog Archive
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2010
(18)
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November
(13)
- Head and Shoulders GBP/JPY Daily Chart
- Too much too soon, Got Out
- Cup and Handle USD/CAD
- CAD SurpriseBox Broken
- Out of the position
- More then Halfway to the TARGET
- New position
- Out of the position
- Range on Bullish Engulfing
- NFP Nov2010
- GBP/CAD SurpriseTrade Target Reached
- GBP/CAD SurpriseTrade PostFed
- GBP/CAD SurpriseTrade Nov-3-2010
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November
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