April 18, 2009

Weekly Trading Update - April 13-17 2009

Well I have very little to report this week because I didn't trade a single position using my main 4 hour trading method. There were two good set-ups on the GBP/USD and EUR/USD pairs but both of these upwards EMA crossovers occurred on Easter Monday when I was still on holiday.

I was tempted to go against the daily trend and take a short position on the GBP/USD yesterday morning once it failed to stay above 1.50 and the EMAs had crossed downwards again, but I decided not to in the end.

Anyway there should hopefully be some decent trading opportunities next week as I'm expecting the EUR/USD to bounce back upwards at some point, and I think the GBP/USD may be gearing up for another assault on the 1.50 level now that it's fallen back somewhat. I certainly hope so because this week has been incredibly boring.

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