Click here last week’s Forex Trading Recap, August 24, 2010

Forex Trading today has been in a channel and a bit choppy the past 2 trading days. Volume has just now picked up in the USA session due to fundamental news and bad numbers of unemployment claims and the Philly Fed Manufacturing Index. With this fundamental news, this equates to a very strong yen. The cross pairs EJ, GJ, AJ have traveled over 100 pips since this. We have taken 67 pips profit on this bear run down. Online trading’s volume should pick up today with this being the last trading day of the week due to the fact we have now broke new lows with these fundamental announcements, and the Asia and London market still need to digest these numbers upon their opening as well. The rest of day trading should flow nicely, we currently just took our last trade with an exotic GBP/CAD pair, at price action 1.6210, 100 pip target, 37 stop, reward to risk of 3:1.

Click here for the Forex Day Trading Recap

Forex Trading this morning has been bearish the weak dollar and very strong yen. We have had over 300 pips profit in the yen cross pairs this week and these should continue its bearish cycle until the next earnings season. Online trading before market open today was a bit neutral in the zone producing a channel on the higher time frames but broke when the USD retail sales came out less than expected. We are looking for ultimate lows on the daily charts to repeat history and form double bottoms before we see a bull run for any day trading etc. This equates for the cross pairs GBPJPY and the common pairs GBPUSD.

Click here for a video recap of our Forex trading

Forex Trading today has been low volume, but profitable for our Asia and London Sessions. With low volume, an alternative strategy is needed from swing trading and caution on your reward to risk. Day trading during the US equity session is lacking liquidity perhaps due to the lack of news that was released for force any major breakout of the consolidation on the daily charts on common pairs and cross pairs. Online trading rooms are needed in this type of uncertain low volume to enhance your probability of success and reward to risk. The Forex Live trading room has cashed out over 100 pips today and still one trade pending on the AUD/USD to the short side triggered at .8955 for 60 pip profit, and since volume is low, we are at 25 pips profit.

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www.tradersinternational.com/fx-trading/ We teach forex trading and emini trading. Watch us prove our online day trading strategies live. Learn e-mini futures and fx trading strategies. Read the rest

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www.TradersInternational.com/day-trading-stocks/ We teach forex trading and emini trading. Watch us prove our day trading strategies in the live market. Learn e-mini futures methods. Read the rest