While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of t… More >>
Range bound day after Non-Farm Payrolls. The Majors were stalled and the JPYs not doing much. Just one trade opportunity for us and that was a range trade setup of shorting at resistance and cashing out at support… with a reload in between. Only 50 pips at best, but nothing less moved. So not bad at all. However, this certainly could have been a “no trade” session for capital preservation.
There was a flight into the risk pairs today – discounting a Gold induced temporary reversal in the NY afternoon session. The EURUSD moved above key support at 1.3613 and although still range bound, pushed the bias back to the upside. For a discussion and look at some of the other currency movers today, watch the forex report