FOREX New York Session Video June 21, 2007

We knew from study of the historical data that Canadian wholesale sales has been a fairly consistent predictor of retail sales, so when yesterday's print of wholesale sales was low, we were not surprised to see today's retail sales number come in lower than expected. A break of a psychological level and a retracement to the upper Bollinger Band provided traders with dual options for an entry. A brief rejection at the 21 EMA on the daily chart was only a bump in the road, as price proceeded to the high from two days prior, then R2 two hours later. A conservative, repeatable news trade.

Category:

Howto & Style

Tags:

• Forex
• Training
• Currency
• Dollar
• Money
• FX
• 4X
• trader
• Foreign
• Exchange

[TickerShuffle]

That thing tanked yesterday... I was in EURCAD and almost got taken to the woodshed. I ended up posting profit this morning.

Key statement from this video for me, "You are not paid by the hour" I was in the position 2 days...and it just worse and worse...

[coolnine9]

Thanks Curt. Great job.

[telluvregina]

Great Job explaining it all.