Daily analysis and trading strategies 9-3-10
September 4th, 2010
| Tags: 9310, Analysis, Daily, strategies, Trading
EURUSD
Trading strategy: small long at 1.2780, stop at 1.2720(0.5% risk), 1st objective at 1.2830, 2nd objective at 1.2900
The euro is relatively quiet since yesterday, trading in a narrow range of 70 points, but holding gains above 1.2800. Upside is slightly favored and a pullback may provide a buying opportunity if …
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main problem with “oversold/overbought” things is that people get into trades against the market.
To be honest, what I’d do is buy the best performer pair, hence the most overbought one. Either buy again on retracement or when it breaks higher. Preferably when/if it breaks higher (momentum thing…)
with your experience can u tell me if this could be good oversold/overbought/flat levels…
http://fxconsulting.oanda.com/resources/forex-price-movements
for a weekly setup..
ie if at the end of the week u got 4% down in a pair.. u could wait for a small bounce (check volatility or daily range for targets..) or is it too “easy” …?