Welcome

I am using this Blog as a mechanism to attract traffic to our Company Vampire Trading Network, Inc. I will post my analysis of the Euro FOREX Currency using our proven custom indicators. I hope you will use this information to your advantage, realizing that it is a speculation on what might happen. Any trade is a 50:50 proposition. I hope to increase your probability of success.

DISCLAIMER

U.S. Government Required Disclaimer - Futures, Forex, Options and Equities trading involves substantial risk. The valuation of Futures, Forex, Options and Equities may fluctuate, and as a result, clients may lose more than their original investment. In no event should the content found through Web Page, Audio, Video, Email, Hard or Soft Copy Text, Spread Sheet, Application or Any other Source of Information or Representation associated with Vampire Trading Network, Inc. be construed as an express or an implied promise, guarantee or implication by or from Vampire Trading Network, Inc. that you will profit or that losses can or will be limited in any manner whatsoever.

Past results are no indication of future performance. Information provided in this correspondence is intended solely for informative purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.

In case you don't understand this statement, NO ONE is responsible for the results of any trade that you place other than you yourself.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE

Wednesday, June 9, 2010

Euro Breakout Long 2010.06.09-11:55


Euro Breakout Long 2010.06.09-11:55

The 1 hour break out behaved pretty much as expected. There was a pull back to suffer through the Euro session before taking a good run through the USD session open.

This evening shows that the 1 hour is making another pass towards previous high but caution needs to be taken as we approach two significant resistances from the Daily chart and a 4 Hour trend line establish at the beginning of May. 1.2038, 1.2062 and 1.2112. Note that these just happen to be the predicted take profits from yesterday.

The 4 hour predictability has become very muddled, but the fact that the daily Bollinger is closing up says that we should still see a continued press long. as the Daily continues to consolidate. If the May 4hour trend line remains in control through the next day a pendant will form. A Daily trend line established in April will then become the dominant Resistance which will likely time the next leg of the Euro's existence, either Long or Short.

For tonight, the 4 hour is the play or it may peter out. Look for pull backs at 1.2062, 1.2088 and 1.2138. An outside chance for 1.2212 may be possible but I am not counting for more than that though the fib extension shows outside run to 1.2288/and test of 1.2312.

PLEASE READ THE DISCLOSURE AT BOTTOM OF PAGE







HOW TO PLAY
  1. Select a stop loss such as 1.1932
  2. Plan an entry between 1.2062 and 1.2091
  3. Take entry less stop loss plus spread and calculate lots to trade e.g. 5% of account
  4. At 1st Target take 50% of lots off trade which returns approximately 75% of your investment back to realized gains.
  5. Move stop to break even or 1.2086
  6. At 2nd Target take 50% or remaining lots of trade this should be approximately equal to your first pull.
  7. Move Stoploss to 1.2036
Use your best gut feeling for the remainder of trade. With high time frames experience has showed me that the 4Hour will consolidate at 2nd target so you might as well pull the whole trade at that point. This particular move seems to be week and filled with resistance so why not take everything off the table at 1st target and walk away with a nice prize.
Posted by at 11:58 PM

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)