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May 17th (+15 pips)

5/17/2017

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Trade 2: Long EURJPY (-20 pips)

This trade comes straight from the Trade of the day section and was explained there in some detail. The Yen has been on a real charge today as all of the indices pullback.  Although it looks pretty substantial on the charts it really is not that unusual and is more the normal run of things than a harbinger of what is to come.  A little bit of negative Trump news really does not matter, we get negative Trump news everyday and it is nothing more than political/journalist chatter.  Tax reform continues and looks more likely by the day.  Buy the dip is likely to take over soon.  The large drop leaves excellent risk reward for the trade although probability of success is quite low as we are trying to call a bottom on a big intraday move.  The US dollar was the other trade of the day, it is showing a similar fall but it is still looking weak against other pairs especially CHF and the other european currencies.
Picture

Trade 1: Long EURAUD (+35)

It is a slow day today, many pairs are retracing recent moves and still more are in the inflection zones marking the extremes of a swing.  My system requires both of these issues to resolve before I can trade.  I expect things to get really busy towards the end of the week.  This small trade is taking advantage of the current Euro strength in one of the few areas a reasonabe risk reward trade can be found
Picture
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    Author

    Steve Tobin
    Husband, Father
    Maths Teacher, Trader

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RetiredearlyFX is a trading name of the investment company Bagehotsway.
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  • Home
  • How it works
    • How to Make 100k with Forex
    • Plummer Wave Trading
    • Economic Surprise Index Methodology
    • Mathematical FX model
    • The Complete Plan
    • Invest
    • What is Social Trading?
    • FXTM
  • Info
    • The Trading Plan >
      • Trade Targets
      • Waves
      • What is a Plummer Wave?
      • Wave Trading
      • Forecasting the Market
      • Weekly Waves >
        • Cycles and the Indices
    • Education >
      • Positon Size and Risk
      • Beginners Corner >
        • New To Forex
        • How To Start Trading with $50
      • Top 10 Forex Websites
      • Economics >
        • Economic Surprise >
          • Economic surprise July
        • What drives Prices ?
      • Trading Needs
      • Points of Interest >
        • Facebook Wave analysis
        • Forecasting EURGBP
        • NZDUSD Long Forex Trade?
        • Gold A Technical Study
        • USDJPY Forecasts
    • Predictions Archive >
      • Forex Predictions May 2017
      • Free Forex Signals May
      • 24th April
      • US Stocks
      • USD Crosses Forex Prediction
      • European Stocks
      • Euro Crosses
      • ANZAC currencies
      • GBP Crosses
      • Asian Stocks
    • Members Area >
      • Trade History >
        • Journal Charts 2018
        • Journal Charts
    • Risk Disclosure
    • Project $100K >
      • Project 100k Archive >
        • Project 100K part 2
        • Project 100k Attempt 1 Review
        • Trade 1 Project 100k
        • Trade 2 Project 100k
        • Trade 3 Project 100K
        • Trade 4 project 100k
        • Trade 5 Project $100k
  • Trade Ideas
    • Trades Blog
    • economic blog
  • About
    • Company
    • Contact