Day Trading Idea 10-11-2008
Day Trading Idea 10-11-2008
Mizuho’s technical analysis: Market is sideways. Suggested strategy is to attempt long (buy) at 1.5700; stop below 1.5400. First target 1.6000. Points to watch: 3rd support (1.5535) and 3rd resistance (1.6200) Danske’s technical analysis: Market is in a downtrend. Suggested strategy is to attempt long (buy) if price breaks 1.6201 with first profit target at 1.7235. Place the [...]
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Mizuho’s technical analysis:
Market is sideways. Suggested strategy is to attempt long (buy) at 1.5700; stop below 1.5400. First target 1.6000. Points to watch: 3rd support (1.5535) and 3rd resistance (1.6200)
Danske’s technical analysis:
Market is in a downtrend. Suggested strategy is to attempt long (buy) if price breaks 1.6201 with first profit target at 1.7235. Place the stops at 1.5530 or change trade direction if price breaks it. Profit target for this sell (short) entry is 1.5400.
Ino MarketClub’s Trend analysis:
Strong Down Trend (score -100)
Points to watch from my pivot-calculation are the 3rd resistance (1.6207) and 1st support (1.5533)
At the time I wrote this, gbp/usd price was ranging around 1.5770. My plan is to place long order if price breaks 1.6200. Anticipate-stops will be at 1.6100. I will place short order if price breaks 1.5530. Anticipate stops will be at 1.5630.
Please note that this is just a trading idea, I do not execute trade solely based on this. I write this in purpose to show you (especially novice traders) about how I make use of the free technical analysis data for my intraday trading.
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Learn to Trade from These Free Trading Videos
I’ve been thinking that free trading videos would be a big plus for Pipholic. Unfortunately I’m having technical difficulties and time-limitation to provide such learning materials. There are actually many forex-learning resources which provide free trading videos, InformedTrades is one of them. InformedTrades tries to help people learn to trade by providing trading courses. They incorporate [...]
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I’ve been thinking that free trading videos would be a big plus for Pipholic. Unfortunately I’m having technical difficulties and time-limitation to provide such learning materials.
There are actually many forex-learning resources which provide free trading videos, InformedTrades is one of them. InformedTrades tries to help people learn to trade by providing trading courses. They incorporate a bunch of free trading videos within their free courses. I browsed around the site and found tremendous amount of info for those who want to know and learn to trade. InformedTrades cover both technical and non-technical sides of trading.
It seems that the host (David Waring) is trying to present the course-materials as systematic as possible. He categorize the course into 8 categories including course on forex, stock, futures and options trading. Up to this point you can see that InformedTrades is not only about forex trading.
I currently enjoy reading articles within Fundamental Analysis category. You know I’m poor in this field. Articles listed there are pretty well-written and has helped me a lot in learning this topic. This sub prime (loan) crisis article for example, gives “two thumbs up” introduction and explanation about sub prime loans and the issues they are causing for the consumer, the economy, and in the financial markets in general. You know that subprime loan has recently been associated to the current US Economic crisis
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Daily Free Forex Signal 07-11-2008
Today’s GBP/USD Forex Signal (07-11-2008) Best time to place this order is at 05.00 GMT sell @ 1.5794( Stop/Limit/Market Order) Set Stop Loss @ -30pip Set Profit Target @ 20 pip Daily Pivot: 1.5834 Previous day’s HLC Price and today’s Support-Resistance Levels Below are previous trade’s result and the Eur/Usd Signals: Previous Gbp/Usd (06-11-2008) trade and it’s result: sell @ 1.5929 (Loss) Today’s [...]
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Daily Free Forex Signal 07-11-2008
Today’s GBP/USD Forex Signal (07-11-2008)
Best time to place this order is at 05.00 GMT
sell @ 1.5794( Stop/Limit/Market Order)
Set Stop Loss @ -30pip
Set Profit Target @ 20 pip
Daily Pivot: 1.5834
Previous day’s HLC Price and today’s Support-Resistance Levels
Below are previous trade’s result and the Eur/Usd Signals:
Previous Gbp/Usd (06-11-2008) trade and it’s result:
sell @ 1.5929 (Loss)
Today’s EUR/USD Forex Signal (07-11-2008)
Best time to place this order is at 05.00 GMT
sell @ 1.2775 ( Stop/Limit/Market Order)
Set Stop Loss @ -30pip
Set Profit Target @ 20 pip
Daily Pivot: 1.2815
Previous day’s HLC Price and today’s Support and Resistance Levels
Previous Eur/Usd (06-11-2008) trade and it’s result:
sell @ 1.2926(Profit)
Please note that I don’t use the Eur/Usd forex signal for live trade. It is here for performance tracking purpose.
I use the above HLC data to calculate today’s pivot point using forex pivot point calculator. If you curious what the HLC data is all about, please read this pivot lines article.
If you’re relatively new to this blog, please firstly read this free forex signals introduction page before you go any further.
If you would like to know the trading system used to generate this forex signal, please read both trading the gbp/usd and pipholic gbp/usd daily pivot trading.
You can get the free forex signal delivered to your e-mail if you subscribe to my RSS by email. By subscribing you will receive an email whenever I post new forex articles.
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Daily Free Forex Signal 07-11-2008
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