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Friday, April 3, 2009
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My ForEx trading blog - To help out some beginners new to the Foreign Exchange Market - I am not a scalper - I prefer to trade positions rather than watch a tick chart. I hope my tips help you.
Pairs I Watch
All the JPY Pairs - The Yen is highly overvalued and has driven all others down across the board, currently the strongest currency in the market. Good long positions against the Yen if you can spot them.
All the CHF Pairs - Same thing as Yen the Swissy is strong and many are fleeing to it. This is creating Great Long positions with Huge profit potential (Except USD/CHF which may be a good short)
CAD - The Loonie has held it's ground fairly well against the other majors including the Yen.
GBP - The pound always suffers flight to safety and when there is a hint of trouble in England the Pound sinks like lead. Watch out it will take out stops like nobody's business.
EUR - The Euro Zone has been experiencing a major correction from it's EUR/USD High of 1.61 your too late to short it, and it's oversold.
All the CHF Pairs - Same thing as Yen the Swissy is strong and many are fleeing to it. This is creating Great Long positions with Huge profit potential (Except USD/CHF which may be a good short)
CAD - The Loonie has held it's ground fairly well against the other majors including the Yen.
GBP - The pound always suffers flight to safety and when there is a hint of trouble in England the Pound sinks like lead. Watch out it will take out stops like nobody's business.
EUR - The Euro Zone has been experiencing a major correction from it's EUR/USD High of 1.61 your too late to short it, and it's oversold.
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About Me
- FX_Trader
- I began my adult working life as a plumber / gas fitter. I discovered the Forex a few years ago and have never looked back. Although I still run a plumbing & heating business my main interest is the forex. Why? It's recession proof, and generates opportunity 24 hours a day. ***Note: I am not a scalper! I do not bother trading forex based on minute or tick charts. I tried that and it didn't work for me. I find it too stressful and not very profitable. I trade positions based on price and price alone.