Casey Stubbs – Winners Edge Trading
The Euro made a huge move upwards yesterday, which created great trading opportunities for those traders that were ready when the move took place.
That is one of the most difficult points of trading which no one talks about that much and that is that the trader must be ready to pull the trigger when the trade is ready to happen. The key for me is to be in front of the charts at a certain time each day and that way I will be ready any time a trade materializes while I am trading. Anything outside of that time frame I must not think about. Do any traders out there have any other methods that help them to not miss trades?
Now back to the euro. The pair moved upwards until it hit a critical resistance level of 1.4138. The pair has hit this level 3 times and been stopped each time in the last couple of weeks. The pair has been correcting since yesterday and I look for the pair to bounce hard off of the bottom trend line shown on the chart and from there move up to challenge the 1.4138 resistance level. So that is great point to enter and I would put a target at 1.4138. Then watch that level if the price breaks that we could see a target of 1.4339
The Forex TV Blog has a Video with additional information about the Eur/Usd. I would check it out as it is very useful.
240 Min Chart
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