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

Sunday, August 7, 2011

The Week Ahead

hello traders last week I was in and out all week away from my desk and this week will be the same a festival in local town + a bit of sea fishing lined up so wont be doing much updating,or trading ,a bit possibly mid week , Anyway no need to mention the news ,unless you were on the moon .my bottom chart shows a big triangle forming in a 12 hr time frame will there be a break either side this week ? possibly, but if not its getting closer every day
the top chart is in a 4hr time frame and shows my supports/resistance areas R1 s and S1 s ,but this week at the open into Monday and Tuesday if trading I will be extra careful
as news will dominate price. On the 4hr there are two fib levels I will be looking at the 78% fib from last hi to last lo R1/S2 and the bigger level at 3986 just below S3 any way good luck and tight stops Dave.

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