Archive for July 21st, 2010
Learn Forex – Trading Forex Naked on Price Action Alone
Learn Forex (FXpath.com) – When traders talk about ”trading naked,” they are usually referring to one of two meanings. One of those meanings will not be delved into here. The second meaning alludes to the use of charts that are devoid of mechanical indicators. Why trade without indicators? Naked traders would argue that mechanical indicators are primarily just mathematical derivatives [...]
Forex Trading Technical Analysis (2010/07/21) GBP/JPY Rides Support
(Please click on the forex chart thumbnail to enlarge) 7/21/2010 Forex Trading Technical Analysis (FXpath.com) – GBP/JPY (a daily chart of which is shown) as of Wednesday (7/21/2010) continues to ride just above key support around the 132.00 price region. This occurs within the context of an overall long-term downtrend channel. After making a bearish breakdown in [...]
Forex Trading Technical Analysis (2010/07/21) AUD/USD Reaches Triple Top Resistance
(Please click on the forex chart thumbnail to enlarge) 7/21/2010 Forex Trading Technical Analysis (FXpath.com) – AUD/USD (a 4-hour chart of which is shown) as of Wednesday (7/21/2010) morning, has reached and turned down around the key 0.8850 price region, establishing a tentative triple top approximately matching the highs in June and earlier this month. On establishing [...]
