Monday, July 13, 2009

My EUR/USD analysis coming true?





Another trade update, and you will probably see more of these this week. I usually don't brag about being right on a trade, but this on is almost dead on! Take a look at this;

Click on it for a bigger image right off of my trading station! It even hit the 3rd Fib mark! And according to my previous analysis it's on it's way down! Of course nothing is guaranteed in Forex, but I even mentioned that earlier too, in fact here's yesterday's quote;

"going to be an interesting one since since it's a mixture between technics and fundas. Almost all reliable websites, including some minor ones (like me) see a buy opportunity soon and a sell off at a range above 1.40"

Guess what happened today! Maybe I do have a crystal ball and I don't know it,.lol regardless what happens next, already a lot of money is made! I bought until 1.40, shorted. So far I still see selling pressure (if you were wondering what will happen next) but since I haven't really established an exit strategy yet I can't tell really when to take profits. I'm always very cautious and thinks 40 pips is a great profit. (if that helps). US retail sales data are going to be released tomorrow and certainly are going to have an impact on the price.

Disclaimer:

All opinions expressed, trade recommendations/advice on this website are solely of John van der Munnik and are not affiliated with any investment firm or any other organization. You should not make an investment only based using this website VDM Trading for your trading needs without seeking help from your own financial advisor.