Saturday, March 20, 2010

Hexametry for Traders - Trade Call on AUDUSD 2010-03-22

This is an intraday Trade Call on AUDUSD done by Eric Lye in our Forex Trading Room. 

The purpose of the Trade Call is not to instigate my readers to trade, but rather to give more insights of how we trade.  We trade on price action, we also trade based on our Hexametry framework.  The framework is not a specific system nor a method.  It is how we approach the market and manage ourselves as a trader.

[Saturday]
I just did my analysis and this is the trade call for the coming week.  Also refer to the analysis done on Friday

















[Monday]
There was opportunity to short but with small profits around the 50pips region.  This again tells us that the market is random.  We formed bias of the market through our analysis, and we need to learn to accept the information when the market is telling us the opposite as the trade progress.

In my opinion, there is no such thing as right or wrong call (unless obvious cases like selling into support and buying into resistance with no good reasons), thus it's all about how we manage our trades in order to profit from the market.

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