Trading Report 241210 (b)

Date : 24.12.2010
Enter : Long 1.3126

Date : 28.12.2010
Exit : Short 1.3226

Profit : 100 pips

Duration : 5 days

Report : Target profit price is achieved. The price cannot go up anymore because of its position outside of the Bollinger Band for 2 candles (8 hours).Past experiences show that it will go downward if the candle is no longer in the band for 8 hours long.

Market Entering Report 241210 (a)

24 December 2010 - My market reading : Long EUR/USD

The appearance of Bullish Engulfing triggering an interest of buying. Although it is seen not a proper signal, it is still fall in the rules of Bullish Engulfing. Second candle is white. Opening price of the second candle is lower than closing price of the first. The closing price for the second candle is higher than the first candle. This signal occurs after a downtrend and on the Bollinger Band bottom line. The third candle which closes higher than the second candle and higher than Simple MA, triggers a buy for me.

On first long signal of parabolic SAR, Macd shows three ascending bar and W%R value shows -48.

Market might be thin as it is nearing the Christmas, I expect for 100 pips for this trade.

Time : 09:49 a.m.

Enter Long : 1.3126

Introduction

Assalamualaikum. Hi. This blog is mainly about my forex market predictions, commentary and my simple record of doing currency trading. I am a part time trader. I see myself as an investor.
My investing technique is solely Ruled Based Trading. I am a Japanese Candlestick fan.
I dream of having my very own hedge fund company where I can train other people to trade and help others in achieving their financial goals as well.

I hope for a better future in 2011 in terms of investing, my career, business and my life..