ForexSpirit

The upcoming week will probably be relatively quiet for trading. As well as the usual Thanksgiving festivities on Thursday and Friday which usually results in minimal volume and thus precarious trading conditions, I’m also taking the first three days of the week off.
In between running errands, putting up ceiling fans and shelves and [...]

GBP/USD was my bane today, while EUR/USD and EUR/JPY were sweet as pie.
Let’s examine the two dodgy sterling trades. The first one occurred at 11:30 EST when price was retracing the major down move that had taken place over the previous two hours.
I did not have a sell limit order in place [...]

Here’s a great chart courtesy of dchart.com that compares the depth and duration of four significant bear markets of the past century:

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A pretty quiet day today compared to the recent past.
The only real trade of note was the second GBP/USD entry which I did as a continuation trade rather than the more common support/resistance scalp. The 1.4750 area was tested for a second time in late afternoon trading. After an initial bounce the downward [...]

What a wild ride today!
After US CPI and housing data came out decidedly weaker than expected things were a sea of calm for half an hour. Then the flood gates opened and currencies along with commodities shot up. This move did not last long and by lunch time everything was back to where [...]