Daily EUR/USD candlestick chart. The chart speaks for itself. Each day a new minimum (today 1,25700). The trend is still down, as last week.
Month: September 2014
26 September 2014 – EUR/CAD – Descending triangle?
On 19 September the EUR/CAD has found a bottom. The currency pair has bounced on the static resistance, but it hasn’t pierced the short term down trend line yet. The static support and the short term down trend line are forming something similar to a descending triangle. Anyway, the trend is still down.
26 September 2014 – EUR/AUD – Wandering around the support …
On 22 September the EUR/AUD broke the static resistance (1,4477) by closing the daily long bullish candle at 1,4485. The piercing was confirmed the day after, with the daily close at 1,4456. Then the currency pair has wandered around the (may be ex) static resistance. I’ve redrawn the new short term up trend line, that is now less steep.
26 September 2014 – EUR/GBP – Again in a down trend …
On 19 September I was wondering if the EUR/GBP would be in a flat market. That day the currency pair formed a pin bar (aka hammer), with the daily close above the static support, so the pin bar may have been the beginning of a strong reaction. But there wasn’t any strong reaction. The EUR/GBP has continued to glide over the (ex) medium term down trend line, which has acted as a weird (falling) dynamic support. The static support was pierced on 22 September, now it is a new static resistance. On 25 September the currency pair has reached a new minimum (0,77844). The last daily candle is an inside bar.
26 September 2014 – EUR/USD – The trend is still down
Daily EUR/USD candlestick chart. The price movement is still below both the medium term trend line and the short term trend line, as the last week. Today the price has reached a new minimum (1,26760). The currency pair has speed up its pace, and has begun to distance itself from the short term trend line.
Trader’s thoughts … I need a miracle!
Loss after loss, my trading account is fading away. Just two weeks ago I had endured a heavy loss with a losing trade in the EUR/CAD. The latest in a long line. A that time I had wiped out half of my trading account. Suicidal thoughts. Yesterday I endured another heavy loss in the EUR/AUD. Suicidal trading. I’m very close to completely wipe out my trading account for the umpteenth time. I really need a miracle … suicidal thoughts …
But (this time) I’m trading with a demo account: I’m an happy trader, it doesn’t make any sense to commit suicide …
22 September 2014 – EUR/CAD – I’ve just opened a long position
It seems that the price movement has bounced on the static support. As consequence, I’ve opened a long position (price=1,4191).
22 September 2014 – EUR/AUD – Stop and reverse
Today the currency pair has closed above both the down trend channel and the static support. As consequence, I’ve closed both the short positions that I opened on 19 September and the one I’ve opened on 16 September. Heavy losses. Now I’m able to drawn e new short term up trend line. I’ve opened a long position in the EUR/AUD (price=1,4485).
19 September 2014 – EUR/CAD – In search of a bottom
Daily EUR/CAD candlestick chart. The price movement is below both the medium term trend line and the short term trend line. Today there has been a penetration of the static support (the last relative low). But the daily close has been above the threshold. Searching a new bottom …
19 September 2014 – EUR/USD – Stuck in a down trend
Daily EUR/USD candlestick chart. The chart speaks for itself. The price movement is below both the medium term trend line and the short term trend line. Today the price has reached a new minimum (1,28270). The currency pair is still stuck in a well shaped down trend.
The Happy Trader 