Daily analysis and trading strategies 8-25-10

August 26th, 2010 | Tags: , , , ,

Quote of the day: What’s the difference between Investment Bankers and London Pigeons? The Pigeons are still capable of making deposits on new BMW’s — Rob, a trader from the U.K.
EURUSD
Trading strategy: small short at 1.2590, stop at 1.2660 (0.5% risk), objective at 1.2490
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  1. Liviu
    August 26th, 2010 at 03:05
    Reply | Quote | #1

    yes, pretty much doable. That kind of moves (about 100 or slightly more points in a direction or another) are not influenced by any fundamentals but rather news/intra-day noise. We can get a spike of 100 points faster than we can ask “what the heck is going on?” :)

    I am a bit busy nowadays so won’t watch the charts too often but I will sell on first decent sign of weakness – preferably during the US session.
    Cheers

  2. niajy
    August 26th, 2010 at 03:13
    Reply | Quote | #2

    Thanks for analysis! I have strong MACD divergence (12,26,9) on EURUSD H4..I know it’s not daily TF and fundamentals are not in favor of euro but still..possible move to 1,2750 and then down? what do you think?