Elmar EUR/USD Trading Plan 28 Jan 13





Hello Friends!

I hope everybody is feeling good for our new week of trades.

Last week was a good week of trades! All TheGeekKnows reviews, forecasts and trade plans are in perfect synchrony and providing us excellent basis to trade. Our review produced good pips on a sudden late bullish move. Despite the warnings to stand in the side lines, if you had followed the trade plan and traded even with a small position sizing, you´re now with some more pips in your bag.

After a little sideway condition between 1.3280 and 1.3400, finally we saw some significant move and our resistance of 1.34 couldn´t even see the smoke of the bulls crossing to reach the 1.3486 area. Now we have a good basis to start another trade plan which follows :

20130128-221819.jpg



The safest place to trade is again our once known resistance that now has become a support, the 1.3400 region. Wait for a retracement as you can see in the charts attached between 1.3380 and 1.3400 to look for a reliable candlestick confirmation. There you can setup a Buy Order with target back to 1.3486-1.3500 for around 100 pips profit. In case we have our trade plan triggered, don’t forget to place your stop loss according with your money management.

A clear break below out of the 1.3400 1.3380 level shall lead us back to 1.3280.

Patience folks! Great moves take time to develop and we have to be prepared to adapt anytime. I am currently preparing an article about the psychology behind the movements of last week. I believe it will be a positive impact on what we think about the reasons why the traders enter their trades.

That is it folks and I hope everybody is excited for our week ahead!

I´d like to finish this trade plan with a quote from Jesse Livermore:

​“Don´t worry about what the markets are going to do, worry about what you are going to do in response to the markets!” – Jesse Livermore

VN:F [1.9.22_1171]
Rating: 5.0/5 (2 votes cast)
Elmar EUR/USD Trading Plan 28 Jan 13, 5.0 out of 5 based on 2 ratings