Forex Trading Patterns On The EUR/USD
EUR/USD Trading
Forex day trading the eur/usd watching for a break out.
The easy money trade of late has been selling the USD into any signs of strength, especially at times when it has risen to the upper trend line which was resistance. That has all now changed.
The EUR/USD had broken resistance and is now in the process of breaking out with a weaker USD in play.
How to get into the trade?
I had been watching for this break for over a week now selling into plays on the resistance line and also taking buy scalps from the lower portion of the range. This morning I closed a long into the resistance but I did not take a short suspecting price was going to continue to rise and possible breakout. I have been left behind but happy always to take a cautious approach. I am now looking to buy all down moves and watching closely for a test of the breakout; once broken resistance becomes support.
Updates
If you are interested to observe you can link a demo from Oanda account to the managed accounts. In just over a week an 82% return. Although just over 40% of that came from the wild trading day when the EU debt and US jobless numbers rocked the markets allowing for some good trading.
I am now going to set out on the task of combing Conquer V1 & 2 while adding a counter trend scalp throughout which greatly smooths out the equity curve.
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