October 23, 2009

Weekly Trading Update - 19-23 October 2009

Well I only traded one position last week and this week has been even worse because I didn't open a single position. I do like my 4 hour trading system generally but there were no decent set-ups at all this week.

Well actually the EUR/USD pair did provide some half-decent set-ups (even though the EMAs didn't quite cross over), but as I've mentioned in previous weeks, I'm still reluctant to go long because I think this pair is starting to run out of momentum.

As it turned out it has creeped up past the 1.50 mark and would have yielded some small profits but I'm not too worried. Indeed I'm quite looking forward to next week because some of the currency pairs, such as the EUR/GBP, GBP/USD and GBP/JPY pairs, are gearing themselves up for some nice EMA crossovers (in the same direction as the overall trend).

That's all for now. Have a great weekend.



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