JCL's Forex: Forex Trading Life |
| Posted: 23 Jun 2009 10:50 AM PDT Hello all, Interesting couple of weeks. As expected the trend that has been in place for the last two months has showed signs of weakness. With yesterday's price action we even felt that some confirmation of this. However today all pairs are now moving back toward the trend in place with pretty decent momentum with further signs of USD weakness. I am surprised by the price action and that is why I continually say I know nothing and just follow the rules. Conquer has us positioned well for this move with several new entries in the direction of the trend in place. Nothing is confirmed until price sets new highs here but I have to be honest, if I were trading speculatively I would be hold positions right now against the trend and doing a lot of hoping right now that my positions would come back to break even. Thankfully we have a plan to follow. Greg completed the spreadsheet for the Conquer which you can download from the right under Spreadsheets. Check it out, it can be really useful for those not using Oanda as their broker. Good stuff. 4 Hour: AUD/JPY buy Drop In re-entry (stopped out at b/e)  8 Hour: USD/CAD sell Drop In re-entry  Subscribe to these updates by email or rss feed here. You can also follow me on Twitter here.
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