Tuesday, March 16, 2010

GBPUSD 2010-03-16 Analysis

 Technical analysis on GBPUSD done by Eric Lye in our Forex Trading Room

[Tuesday]

GBPUSD clearly resisted and a nice bearish reversal (evening star) is show on the daily chart.  Look for a good setup to short so as to find a logical and better priced stop loss.


















[Saturday]
It's funny that someone would call me unethical for this.  Anyway, I am just showing how I trade.  What I see and how I manage the trade would determine how much I can get from the market.  Is the right call so important?  Market is random by nature.  Nobody can be sure where market would go, it's all about how you manage.  Below is how I managed the trade

5 comments:

Anonymous said...

Oh come on, you made the wrong call. And you know why? Because you are unethical and this serves to punish you :)

Chor Shuen said...

Hmmm...its normal to make wrong at times...as long as there is more rights than wrong....trading is a statistical game.

I wonder how this makes one unethical? Care to clarify?

Anonymous said...

Stealing people's methods and setting up one's own school.

elye said...

This is really funny. Can you tell exactly what method I am using?

Trading support and resistance? Trading chart patterns? Trading Harmonic patterns? Trading inside bar? Trading breakout? The use of Fibonacci? The use of Trend Line, Channels, etc?

These are common knowledge. The key to trading is not knowing all these components of knowledge, but knowing how and when to apply them.

Eric

Melvin said...

I am very interested to know where and who Eric's steal the methods from. Care to reveal?