ForexSpirit

Tuesday and Wednesday were very quiet, with a gentle trend downwards.  Then we had the FOMC interest rate announcement today; the expected 25 basis points, along with a slightly dove-ish statement.  Euro took off like a rocket.
Since we moved the grid down to 124 - 1.28 a few days ago, [...]

My two lower birthday trades made it into the money today.
My ham fisted prediction for the next couple of days is that price will return to lower levels up until the FOMC rate announcement.  I foresee the market insiders running stops; I see today’s euro strengthening as stop running around the 1.26 level.  If price [...]

Lots more range trading for most of last week, with some slightly more significant dollar strength on Friday, breaking out of the range slightly to the down side.
I had one birthday trade complete successfully.  Two other positions were entered when congestion ranges were reached after the two main drops.  I was aiming for just 30 [...]

I’ve finally got around to reading Mark Douglas’ ‘The Disciplined Trader’ which I got as a gift at Xmas.
Reading chapter 12 today make me come to a realization on how I should re-focus and re-phrase my trading objective.  Mark advocates that you need to be continually learning to make sure that you are open to [...]

Dirk thinks that prices might have bottomed already.  There was a solid bounce at 1.2530 yesterday.
I had set my remaining open position with a profit target of 35 pips, which got hit on today’s high.  I am waiting for another modest dip to buy again.