September 25th 2013 EUR/USD, GBP/USD Technical Analysis

EUR/USD and USD/JPY

By Gerard Mastra (BT)

Today was a great day in our Forex Trading Room. I We went over the EUR/USD in U.S. session today as it appeared that although we had a large push last week, we were poised for yet another move higher in the EUR/USD.

Yesterday the EUR/USD  moved a bit lower. The trigger buy level was 1.3480 buy level and you will see that this area hit almost to the pip. Wow! It is a great feeling when your homework works out in a big way. Those who took this trade nailed +38  pips.

My main Focus was on the USD/JPY pair. We gained +97 pips on this last trade and over 133 pips this week selling the pops. We exited at the perfect time prior to the short squeeze pop in Asian session. See below the trendline pop level.
Many Forex training programs do not emphasize the simple approaches to trading and I think this is a big issue and actually a deterrent in winning. For this reason I always Coach the fact that trendlines work when used properly. We have dedicated Member videos on how and when to trade the EUR/USD and GBP/USD on a tredline trade.

Our exit was 98.40 area. You can see all exits and entries here.

GBP/USD long setup trade

By Marco Hering

There was not much to speak of today with regards to the economic calendar. GBP/USD did a nice retrace from my 1.6150 resistance area which I pointed out in my last post about this pair. As you can see the pair found support in my buy zone but I wanted to see a break of the trend line channel before I trade the long setup. I put in a buy stop order at 1.6025 and got filled. I only went in with a half size position and had an initial TP for half of that position in front of the previous top and the stop below the lows. To make it simple for the members 0.25 lot represents ¼ size, 0.5 lot 1/2 size and 1.0 lot full size. So if I usually risk 1% of my account on a trade then a 0.5 lot size means I only risk 0.5%. I don't give any recommendation on the actual size but it shows you how much I risk percentage wise on my account. The GBP/USD went higher so far and the 4H chart looks bullish again. I decided to close already some part of my position before the US New Home Sale number for +43 pips. I keep the rest with the stop at 1.5946 and the TP at 1.6145.

Here is an Interesting Video on an Exotic currency that has been in the news alot lately:

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