Hello everyone,

GMT 02:40 – Our trade from yesterday is doing well and we are about +30 pips in profit. The conservative traders may wish to consider moving their stop loss to break even at this point. I will continue to let the trade run.

GMT 07:43 – The market is at 1.3660 and the first profit target was hit two hours ago. I will let the trade run further.

GMT 07:55 – The second profit target has been hit, but I will leave the trade open for a while more to see if there is any potential for the market to keep dropping.

GMT 10:12 - Prices have bounced off the 1.3650 level and those of you who closed the trade at Profit Target 2 have made the perfect exit. I will now look for a good place to exit the trade.

GMT 14:35 – The market is stalling at the channel support line and I’ve just closed out the trade at 1.3670 for a +85 pip profit.

GMT 15:15 - There has been a breakout of the channel support, and I have just entered into a SELL trade

Sell @ 1.3640
Stop loss @ 1.3670 (30 pips ; above previous 1 hour candle high)
Profit Target @ 1.3470 (170 pips)

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Hello everyone,

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Hello everyone,

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Hello everyone,

I’m making an early post today because there has been some important news over the weekend.

In case you weren’t aware, Greece is experiencing a debt crisis that threatens the stability of the Euro (currency) and indeed, the economy of the entire European Union.

See news here.

This is one of the reasons why the EUR/USD has having problems trying to retrace (upwards) as we would normally expect. In fact, the big dogs (institutional traders) have been selling the Euro aggressively in anticipation of the potential collapse of the Euro (currency).

See here.

As a technical trader, I don’t trade based on economic news (such as this crisis) but there will occasionally be fundamental forces (such as this crisis) that forces me to momentarily alter the way I trade.

If you are a fisherman who goes out to sea every day and today you receive news of an approaching hurricane, it’s a good idea to change your fishing plans for the day.

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