Not much happened during the European session today and there is nothing on the calendar for the US Session. Doesn’t seem like much of a trading day eh? Well Fibs, Pivots and Moving Averages all point up for the EUR/USD. So the only question is where the entry/exits points should be for a short USD trade. LIVE FOREX TRAINING | EVERYDAY! HTTP://WWW.FXBOOTCAMP.COM
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Todays currency analysis overview for my forex break out trading set ups
How to set up alerts to notify you if a currency has hit a certain price with the meta trader 4 forex platform. To see the whole video, please visit www.lotsofpips.com
Europe was closed for Easter, but New York was open. The USD was likely to continue its gains from the positive NFP numbers on Friday. With currency correlation, a break of a price channel gave us a target of 44 or the S1 pivot point. The entry was simply a stochastic cross with divergence after a rejection at the 200 EMA. LIVE FOREX TRAINING | EVERYDAY! http://www.fxbootcamp.com
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The forex uptrend was still in place, but showing signs of weakness. Retracement is becoming more and more possible. MACD Divergence, rejection at a Reversal Pivot Point, a 61.8% Retracement and a Triangle break eventually all pointed down. Target was the 138.2% Fibonacci Extension which over lapped with a Support Pivot Point.
Full currency correlation for most of the US Session today. This allowed for several great trades using candlestick patterns, stochastic divergence, pivot points and fibonacci studies. LIVE FOREX TRAINING | EVERYDAY! http://www.fxbootcamp.com
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Today is election day in the USA. Not a typical day. Be careful, this means that our normal analysis may not work as well. Look for several confirmations before jumping in! Today we saw a triangle break, a fib break, a brief retracement and boom… a continuation to the 261.8% fibonacci extension. Full currency pair correlation between the majors as well. It turned out to be an ok trading day after all… even if you were a conservative and patient trader. Live FOREX Training | Everyday http://www.fxbootcamp.com
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