Friday, July 15, 2011

EURUSD 14 July Trade 1





























This is the first trade of the day.

From the first chart, Ichimoku showed a very good long signal.

The Tenkan-sen cut the Jikun-sen inside the cloud.

The price subsequently cut about the Kumo cloud.

The Chikou span also cut above the Kumo cloud, most of all, above all historical price action.

Having said that, there will be Fed Broadcast at 1000h. There is not intention to trade news. However, it is part of the trade to take note what news will be announced.

The second chart showed the price action after the broadcast. There is no immediate action. However, there is severe price action taking place from 1010h.

The trade was stopped out. New short position is in.

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