Economic Calender for Monday 1 August, 2005

Possible spinning top here, so look for a reversal if the EUR/USD didn't break the 1.2158 Hi for today

Today was a reliefing day for the order which was executed two days ago and went down -100 pips, now today if anyone was having the guts , the order went to +120 pips, of course I didn't wait that long and I closed the trade at about +11 pips.

It was indeed a bullish engulfing pattern yesterday in the EUR/USD , Congratulation for all who gathered +20 pips and more.

Exit GBP/USD trade at +11 pips

Exit GBP/USD trade at +11 pips

Set your stop loss to 1.7474

Hi All the GBP/USD trade is now +15 ips, please set your stop loss to +0 pips @ 1.7474 and wait for te price to move.
Now any one can just close the trade when he think he got the pips that satisfy him, because the trade may turn against us and the net profit will be zero.
Have a nice time.

Bullish Engulfing Pattern

A chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely eclipses or "engulfs" the previous day's candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire candlestick from the previous day.




As implied in its name, this trend suggests that the bulls have taken control of a security’s price movement from the bears. This type of pattern usually accompanies a declining trend in a security, suggesting that a low or end to a security's decline has occurred. However, as usual in candlestick analysis, the trader must take the preceding and following days' prices into account before making any decisions regarding the security.

Is this a bullish engulfing pattern? I think so.

GBP/USD order placed yesterday

GBP/USD order placed yesterday is now at -8 pips instead of -100 pips. I will be watching the market to adjust exactly when to exit the trade. right now look for +20-+30 pips profit.

Unfortunately the order was made in the GBP/USD pair but the pair moved in the opposite direction quickly and stayed there all the day to end up with a bearish candle. I am still on the Long side in GBP/USD, -100 pips for now.

EUR/USD was beyond my expectations but Thanks God the order was not executed so there is +0 pips as for the EUR/USD, I will remain away as for now . Always remember that having no position is a position.

Buy GBP/USD @1.7472 TP +20 pips

Buy GBP/USD @ 1.7472 TP +20 pips

Buy EUR/USD @ 1.2080 TP +20 pips

Buy EUR/USD @ 1.2080 TP +20 pips

GBP/USD went down in the begenning of the Asian session , grabbing the few +20 pips recommended in yesterday's trades. Now the pair turned to form a bullish candle and tomorrow is expected to break today's high by at least +15 pips.

EUR/USD went down in a bearish movement at the begening of the asian session of trading, grabing +20-+30 pips that I recommended in yesterday's post, now the pair has formed what is called a spinning bottom, and a bullish bar is awaiting tomorrow's trading sessions as I predict.

EUR/USD went down in a bearish movement at the begening of the asian session of trading, grabing +20-+30 pips that I recommended in yesterday's post, now the pair has formed what is called a spinning bottom, and a bullish bar is awaiting tomorrow's trading sessions as I predict.

GBP/USD went down as a bearish bar breaking previous day's low as I indicated in the previous post getting +25 pips so far, I predict that it will be a more bearish day but orders were executed and TP was met so no more trades for today and see you tomorrow .

EUR/USD broke yesterday's low by about +28 pips until now, so orders were executed and at least +20 pips was captured here.