Friday, May 29, 2009

Forex Trade Result (29 May 2009)

Today is the last day of trading for the month of May and next week we are entering month of june where bearish sentiment is very much likely to happen. Therefore today the overall expectation for GBP-USD, EUR-USD, USD-CAD will still be bouncing ups and downs within the support resistance level. At this point usually there are three time frames mainly the 4 hourly, 1 hourl, and 30 minutes where indicators like slow stochastic will have strong impact on the market expected directions.

successful forex trade resultScalping on the 30 minutes time frame is very difficult when you are at the support resistance level as the market could just slide away further based expected based on higher time frame indicator signals. In order to be safe, follow the highest time frame signals like 4 hourly in order to avoid the market overshot impact.

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