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Browsing Archive: May, 2009
Last week we saw the Euro make a correction and then push forward making new recent highs. So this could be another exciting week with more gains coming for the euro. However due to profit taking there could be a correction in the Euro before we see any more gains. The first target level I have on the Euro is 1.4237 then after that is a key resistance level at 1.4363 Support levels for this pair are 1.4050 and 1.3800 Yohay wrote on Forex Crunch in his weekly update that the Dollar will be weak... Continue reading ...
Last week started slowly as I got stopped out of a Usd/JPY trade at -30 pips but after that I had a great week.
Check out yesterdays post and you can see where my entrances were. I made 160 pips on the Eur/Usd and 120 pips on the Usd/Chf and 100 pips on Usd/Jpy. That was all today. That is what I like about days like this I had a slow week and then I made enough pips on one day for the whole week.
The total for the week was +350 pips
I hope some of you were able to trade along with me. If ther... Continue reading ...
9:30 Pm est Yesterday I spoke of the Usd/Chf and I said that if the price didn't break the 1.950 level that I would be looking at the 1.800 area. That was what happend the price stopped around 1.955 and then it reversed and headed down. I was actually looking for the price to break but it doesn't matter because I don't trade on what I think will happen I trade on what the market does so I did not enter long as I was planning on. So I did not make a bad trade because I followed my rules. So now ... Continue reading ...
12:09 Est Am The Usd/Chf has been moving down for quite some time. Now the pair is in a range pattern as if deciding if the downward should continue or if there could be a pull back here shortly. I am watching this pair closely to see if the pair could make a retracement. The chart is showing some strong support at the 1.0800 level and we are just off of that now at 1.0939. The pair is currently at a resistance level and if that is broken. The next resistance level to watch is at 1.1044 I a... Continue reading ...
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Posted by Casey Sheldon on Monday, May 25, 2009,
Last night when I posted my trade I was surprised when the Yen took a sharp drop and I got stopped out of my trade. It is not like I am the best trader and that never happens to me but I just wondered why? So I looked at Forex Factory for the news releases and no major impacting negative news was released. So after that I just let it go and went to bed. I figured it must be some major investors moving the price during slow trading hours. Today however I was reading articles and some of my fav... Continue reading ...
9:45 pm Est Casey Stubbs -- Winners Edge Trading I am entering USD/JPY short at 94.64 Stop loss 30 pips Target 93.85 I have many confirming indicators to help me in this trade. This is a forex trading strategy that I learned from a forex class I took a while back and it has been successful for me. The key is to use proper risk management and only risk a 2% stake in your trading account. So if you are trading keep your trades small and that way you will grow your account instead of blowing... Continue reading ...
Casey Stubbs-- Winners Edge Trading3:30 pm Est. I only made one trade this week and that was plenty because I entered the Euro at 1.3596 and I am still in the trade at 1.4000. That is a total of 400 pips which is all I need on one week. I am going to continue to ride this trade until we see a pull back which I believe should come very soon. However we have a critical restistance level at 1.4720 hit on December 17, 2008. I think the pair should head to that level soon. I would look for a pull bac... Continue reading ...
Casey Stubbs-- Winners Edge Trading
4:46 Pm Est The Eur/Usd is getting ready to challenge the resistance level of 1.3740 which was hit on March 19 2009. There is ascending triangle chart pattern forming which indicates that we could be ready to break thisThis level was challenged again on May 12 but the pair failed to pass through but instead bounced down. The pair is now getting ready make a move on this key resistance level again in the near future. Watch for a slight pullback as indicated i... Continue reading ...
1:31 Am Est Casey Stubbs-- Winners Edge Trading
The Eur has slowed it recent gains on the dollar recently. However most analysts are predicting that this is a consolodation period and that more gains could come in the near future. There could be a period of ranging before we see any major moves. Watch the 1.3670 level closely if that breaks we could see a major up move. Technical resistance levels: 1.3670 1.3785 1.3900 Technical support levels: 1.3495 1.3340 1.3030 
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6:00 pm EST Casey Stubbs-- Winners Edge Trading The Euro gained verses the Dollar in todays trading. This has been the pattern lately as the trend for the Euro has turned bullish since last week. This has been an extremely profitable week if you went long the Euro. I would anticipate future gains for the Euro with targets at 1.3550 and 1.3700 and a long term target of 1.4700. As the momentum and anticipation of a bull run for the US markets continues to gain steam. I would watch for the Dolla... Continue reading ...
10:30 pm Est Casey Stubbs -- Winners Edge Trading The Euro has just broken the trendline in a bullish move today after positive news in for housing starts. This is an opportunity for traders to take a long position with a stop just below the trend line. The new support is the top side of the trendwall on the daily chart. The next target is the resistance area of 1.3740 we will see over the next couple of days if this new trend will be able to establish itself. And take out any important res... Continue reading ...
9:00 PM EST Casey Stubbs- Winners Edge Trading
Last weeks trading for this pair was in a range of 300 pips for the coming week we have two strong levels that could give an indication of which way this pair will be heading in the future. The resistance level to watch for next week is 1.3740 If the US Economy recovers and the stock market continues it's gains than I think that we will surpass this level in the next week and possibly move to the target of 1.4000 The support level for this pair is 1... Continue reading ...
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Casey Stubbs
I am married to a wonderful woman Deanna we have 5 children. I am a christian serving, The Lord Jesus with all my heart. I am involved in my church and take mission trips every year.
I have been trading since I was 18 when my dad taught me. I have traded stocks, options and forex. When I found forex I knew that I would never want to trade any of the others again.
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