WHY THIS FOREX TRADE loses? -22 Pips EUR/USD 08-09 Nov 2011 Tue Trade. Forex Trading Analysis Sharing.

08Nov 2011   

WHY THIS FOREX TRADE loses?

How I trade? Forex Trade Setup.

A) Analysis:

1) Forex Technical Analysis

a) Key Level (Hourly Chart) @1.3825 (Previous day high)

b) Bearish Engulfing Candlestick Chart Pattern

c) Pivot Point Indicator @ Resistance Level 1

2) Forex Fundamental Analysis:

a) GLOBAL MARKETS-Stocks, euro pare gains after Italian vote

Details:

Tue Nov 8, 2011 10:55pm SST

(Reuters Currency News)

·         European stocks pare gains after Italy vote

·         Berlusconi wins vote, but loses majority. Berlusconi wins budget vote after opposition  abstains; results indicate he has lost majority

·         Italian 10-year yields tick higher

b) Euro rallies on news Italy's Berlusconi will resign

Details:

NEW YORK | Tue Nov 8, 2011 2:01am SST

 (Reuters Currency News)

·         The euro jumped versus the dollar in afternoon trade on Tuesday after Italy's president said embattled Prime Minister Silvio Berlusconi will resign after the approval of new budget law.

B) Forex Trade Position Management

1) Trade

a) Sell Market @1.37842 @11:25:35 PM @ 8-Nov2011 Tue 

b) Stopped out @1.3806 @2:48:40 AM @9-Nov        2011 Wed -22Pips

C) WHY THIS FOREX TRADE loses?

            Reasons:

                        1) Unexpected news as per A2b- Euro rallies on news Italy's Berlusconi will resign.

                        2) Late entry + chasing the market

08 Nov 2011 Forex Market Analysis (Forex Technical Analysis and Forex Fundamental Analysis)

08 Nov 2011 

Forex Market Analysis (Forex Technical Analysis and Forex Fundamental Analysis)

1) Forex Technical Analysis.

a) Monthly - Bullish Pennant +ve

b) Daily - Evening Star Candlestick Chart Pattern with Key Support @1.3700 the figure +/-

c) Hourly – Bearish Pennant -ve

2) Forex Fundamental Analysis:

a) No major US event today

Why This Forex Trade? +152 Pips EUR/USD 03 Nov 2011 Thur Trade. Forex Trading Analysis Sharing.

03Nov 2011     

WHY THIS FOREX TRADE?

A) Analysis:

1) Forex Technical Analysis

a) Key Level(Hourly Chart) @1.3825 (Previous day high)

b) Bearish Engulfing Candlestick Chart Pattern

c) Pivot Point Indicator @ Resistance Level 1

2) Forex Fundamental Analysis:

a) European central bank interest rate cut.

Details:

FRANKFURT | Thu Nov 3, 2011 9:10pm SSG

(Reuters Currency News) - The European Central Bank cut interest rates by a quarter point to 1.25 percent in a surprise move Thursday, acting boldly to support the ailing euro zone economy at President Mario Draghi's first policy meeting in charge. 

B) Forex Trade Position Management

1) Trade 1

a) Sell Market @1.37795 @8:47:13 PM @3-Nov2011 Thu   

            b) Profit Target 1 @1.3729 @8:52:36 PM +50Pips

            c) Profit Target 2 @1.3777 @8:57:59 PM +2Pips (Stopped Out but prior profit protected)                                                                                                                                                    

2) Trade 2

a) Sell Market @1.37696 @9:00:30PM @3-Nov2011 Thu    

            b) Profit Target 1 @1.3719 @9:47:14PM +50Pips

            c) Profit Target 2 @1.3718 @10:25:53 PM +50Pips (Stopped Out but profit protected)

-4 Pips EUR/USD 02 Nov 2011 Wed Trade

+24 and +22 Pips EUR/USD 01 Nov 2011 Tue Trade

+95 Pips EUR/USD 01 Nov 2011 Tue Trade

+23 Pips EUR/USD 31 Oct 2011 Mon Trade