Good day users of The Koala System.
I hope your weekend is wonderful so far.
In the last review, price action was slow and weak at first and The Koala System fulfilled it’s duty by showing signs of no trading. ( Flipping koalas and price cutting through the koalas ) Price action did eventually pick up and concerned about having unsustainable borrowing costs, Greece requested for a bail out near the end of the week. Sentiments improved. A total of 2 risky opportunities and 2 standard opportunities were presented.
The week brought us choppy price actions. With the Greece deficit crisis on the main stage, investors were apprehensive and concerned. Choppy conditions are not optimal for The Koala System. The system is mainly a guide to trade with the trend. Choppy conditions are not trending conditions.
In the first part of the week, two risky opportunities were observed. Once again i do not encourage excessive risky during trading and you should only think of attempting so when you have proper money management. Towards the late second day, continued concerns on Germany’s apparent reluctance to partake in the aid solution brought the Euro down. Along so, a standard opportunity was available for harvest. After which, the currency pair slipped back into choppy conditions.
In the later part of the week, sentiments slowly improved and the EUR/USD rose and hovered around the 200EMA. Early Friday, a standard opportunity presented itself. After which the currency pair went back into choppy conditions before closing for the week.
Many folks have been writing to me that having a lower take profit level may help. For example 30pips. While this may be true, we have to adjust our take profit and stop loss ratio too to maintain a practical ratio. I am looking into this myself and i welcome your feedback in the forums.
Do read the latest EUR/USD Weekly Review for a heads up.
Trade safely and remember making money in forex is never easy!