World Clocks

Thursday, February 09, 2006

February 9, 2006 Still in Range Good Chop Filtering


  • Flat chopped filled market, pretty risky to trade, only managed +31 pips on the pound.
  • Notice the strong support around .7387 prices bounced off this level and went upwards rest of the day.
  • Chop filters of the lsma kept me on this trade on the right side, as it was bullish earlier.
  • Definitely 1 on Trend Meter, its been like that this whole week
  • The idea is to stay defensive, take small profits and get out asap.
Posted by Seaducer67 at 3:41 PM

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Speculative trading in the foreign exchange market is a challenging prospect with above average risk. You must therefore carefully consider your investment objectives, level of experience and appetite for such risk prior to entering this market. Most importantly, do not invest money that you are not in a position to lose.