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FX Live Day Trading Forex Trading Room Results | 11/3/2011

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Published on Nov 3, 2011

ECB DAY
Thursday are one of my favorite days to trade ...........we waited for the technicals to set up perfect. Today was also ECB day. We took a nice intraday trade on Euro USD.

We has a nice Euro currency trade based on technical level and news techniques are very effective and taught in our trading room. Lets have a look at one of the currencies which gave us an excellent trade today.

The EUR/USD gave us a great 50% fib area to place our stops, We waited for the market to come to us today and as soon as we broker 1.3752 our trade short was triggered, and went in Short upon a Bearish Divergence, expecting the a move down which it did.Price found support at our next fib level. A nice Short trade on the EURO/USD, without all that much effort, which is the main advantage of Forex Fib Trading.

Lets go over one intraday trade which we did take before following up with some longer term positions. On the EUR/USD, during the post London session, we anticipated the breakdown of the pair again and took another short. We have some techniques for Fib triangle setups, one of which is called the Crazy Train, which determines whether the expected breakout is correct. Remember nothing is a guarantee in Forex Trading.

The bias was bullish, until the New Euro president made the announcement anyways

Enjoy and have a great day!
For our 7 day trial check out http://fxlivedaytrading.com

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