Although there was lots of movement during the UK session, it was difficult to find a setup that met our minimum 3:1 Reward to Risk ratio.  The NZD or Kiwi moves very similarly to the AUD most sessions.  The Kiwi setup required a smaller stop loss and the setup was more convincing to my eyes.

Both the NZD and AUD as it turned out, began to move at the same time.  If a trade gets away from you in one pair, have a look at a similar moving pair for an entry, but never chase a trade.  The EUR and CHF move inversely, so I usually like to confirm a setup in the EUR with the CHF looking like it will move in the opposite direction.

 
Good luck with your trading!

Back tomorrow.

Michael  www.privateforexcoaching.com


Share this article :
 

Post a Comment

 
Support : Creating Website | Johny Template | Mas Template
Copyright © 2011. Forex Tips and Tricks - All Rights Reserved
Template Created by Creating Website Published by Mas Template
Proudly powered by Blogger