Welcome to fenaghfx

This blog is not for specific trades,but to share my experience and what I have learned over the last few years, Trading involves significant risk and may not be suitable for all investors.

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I have been trading since 2008 in the fx market, trading mainly eur/usd my approach is technical,using support/ resistance .But always keeping one eye on the news

Wednesday, July 13, 2011

Trade recap

The chart at the bottom showed a range of 35 pips it doesn't show the bottom of the range, the Bollanger bands have flattened top and the bottom range is well defined by price, it starts to break higher from the middle of the range at 16.3o with the final break higher at 19.00 leaving traders at 16.30 ,3980 behind, from 3980 to 4050 some 70 pips, the price starts drifting lower when Moody's junks Ireland sending price back to 3980 where a stall develops this is where I entered long with a risk of 7 pips so even though it was a loosing trade it wasn't painful

This trade was a good example of a Hockey Stick entry, with out Moody,s
the odds would have been in my favour but Anything can Happen at any Time hope this helps Dave good luck and tight stops .

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