FX Currency Charting | Currency Futures


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FX Currency Charting

  #10 (permalink)

Legendary Market Wizard
Cincinnati Ohio
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: FX, Stocks, Options
 
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Posts: 1,772 since Feb 2011
Thanks: 4,892 given, 4,030 received



Silver Dragon View Post
Euro spiked along with AUDUSD. Back to break even. Holding on to the position for now however, if the price reaches today's high I will close out the trade. I dont like how the chart is shaping up.

Robert



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I ended up exiting this trade break even. I am glad I did. In the below chart you can see the upper bubble. This would have stopped me out. To add insult to injury the price then went down and hit my target of 2560. This chart illustrates the power of support and resistance. In both cases there was a reversal when the lines were touched.

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