Long position taken at 1.07241. Considering a modification of TP to 1.0740, which is closer to my standard 15 pip target. Mike EDIT: The powers that be have decided this one wasn't meant to be. I'll look to re-enter at 1.070. In hindsight I may have ...

Mike's EURUSD Trading Room

Happy New Year and welcome to 2016! I'm back from holidays and getting into some fresh EURUSD analysis... It's been a funny couple of days with some big sell-offs in China affecting global markets. Despite this, I'm confident there some strong ...

Mike's EURUSD Trading Room

This thread is making for some really interesting discussion, thanks to all who have contributed For me success in technical pattern trading is firstly about recognition of the fact that the markets in which we trade are dynamic. To ...

Is Forex trading worth it? If so, why?

I'm out for 12 pips of profit, closed early as the lower end of the channel had overtaken the original 15 pip target's price of 1.0860. The price did actually end up going through that price and is now proceeding further south. Great trade! Mike ...

Mike's EURUSD Trading Room

An opportunity has actually presented itself in a 1-minute channel. I'm in with a SL set to 5 pips, TP to 15. Taken on confluence with the 1.0875 round level in addition to an ADX signal. Mike image

Mike's EURUSD Trading Room

Here we are, post interest rate hike! The reaction wasn't really all that huge, however it did knock out the underside of the previous 1-hour channel. That downside retracement could very well be on the cards now... The EUR has been trending ...

Mike's EURUSD Trading Room

The previous EURUSD short I posted didn't work out unfortunately. I'm in short again from the top of the channel you can see in the below chart. Target is 15 pips again, let's see if we can get there. As of time of writing we've just ticked over the ...

Mike's EURUSD Trading Room

There's only one more day until the Fed decision! Last night we saw a switcheroo from what was looking like continued consolidation to now a potential downside retracement. There isn't much time left until the Fed's decision on interest rates ...

Mike's EURUSD Trading Room

Hello! While I normally prefer to keep this thread more focused on concepts that can be applied to any strategy, I'll occasionally make posts that deal with my specific approach to trading... this is one such post. Last night's New York trading ...

Variant Perspective Trading

Price has hit another new high in the current uptrend. In spite of this, I'm seeing selling activity almost immediately after each new high is reached. The price isn't managing to force its way much higher each time it challenges the top, and almost ...

Mike's EURUSD Trading Room

Here's a sneaky short scalp I just took along the way. Trade was based on the 15-minute price action sitting just below the channel's underside. Saw a 5-minute reversal candle and pulled that trigger for a quick 12.3 pips. Mike image

Mike's EURUSD Trading Room

Welcome to another new week! Expect a lot of uncertainty in the coming days... the Fed Rate decision is all but confirmed to be a 25 basis point rise, but the market's reaction might not be so predictable We're still in a range-bound market ...

Mike's EURUSD Trading Room

Well, my London open trade both worked and failed at the same time; I just picked the wrong round level to take profit. If I'd taken my profits at 1.10 instead of 1.1025 things would've been good. Unfortunately looking at the scenario that way is a ...

Mike's EURUSD Trading Room

Cheers Julian! I'm currently making a play at the London open, anticipating a surge upwards in price early in the session. I could be quite wrong, but my risk to reward is really good on this trade so I'm not worried. I'll be watching the price ...

Mike's EURUSD Trading Room

It's been a profitable European session for me tonight! Still trading the tops and bottoms of price channels, for me that is the most profitable way of trading the conditions we're currently experiencing. The charts below all paint pretty much the ...

Mike's EURUSD Trading Room

Late entry today, been busy unfortunately! I was still able to trade from my phone, based on the top of that 15M / 1HR bear channel from yesterday. Honestly I love markets after big events like last week, I find them considerably easier than normal ...

Mike's EURUSD Trading Room

Another week, another opportunity! Market looks too thin to enter right now. I want to wait until we see the EUR hit either of the yellow circles in the below 15M chart before considering any entry. The overall picture hasn't really changed much ...

Mike's EURUSD Trading Room

Definitely looks like the bears are in control at the moment despite that small break of the 5M channel. What kind of DOM software are you using to check order flow? cTrader has some basic functionality but nothing particularly enlightening; ...

Mike's EURUSD Trading Room

Here's a few of my thoughts for tonight's session. Last night was an absolute cracker, once the price really got moving I decided to steer well clear but it was a great show to watch. Looking forward to some interesting conversation! video TLDW: ...

Mike's EURUSD Trading Room

A follow up to the above - this is just my opinion... I could be entirely wrong and you might get out of the positions at a great profit (which would be totally fine by me because I'm in short too!), the point overall is that I don't think you want ...

Mike's EURUSD Trading Room