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02 NOV 2012 | Free Daily Analysis | EURUSD : POSITIVE BALANCE

Hello Surfers,

yesterday was a good day. Let me tell you why it was better than what it might looks like.
Yesterday’s Report
After some day without an entry (bad market conditions and hurricane Sandy has been a very bad mix) yesterday was finally our day. We had a perfect trade on Intraday (M30) buying Euros trying to trade and A-B-C which didn’t materialize but, thanks to our lovely exit rulez, we made the profit we were looking for. Please find the chart attached for technical details of this trade.
Not the same luck with the Swing&Relax (H4) trade , when we were trying to find a breakout of an important resistance trendline on EURJPY. The breakout didn’t materialize and we had our stoploss hit, but lucky, for only 32 pips, probably the smallest loss we ever had on a Swing&Relax trade. I love our Master Candle rule!
So the balance is nice and positive because we had a high profitable Intraday trade and a small negative Swing&Relax one.
Technical Analysis
While I’m writing EURUSD has just broken the super reliable support trendline, forming the basis of the triangle you can check on the chart II here attached. This breakout is the natural consequence of the failed A-B-C we were talking about before. Pivots are today back in bearish set-up and price action is now already below DS2, in a no-trade area for us.
The Day Ahead
We never trade on fridays and today is Non Farm Payroll day as well. The worst day of the month for trading. My suggestion is to go out and breathe some fresh air, stay away from these charts and candles and find the time to share a dinner with someone we love with…completely other candles involved ;)
Your spaghetti english Chief Trader

Davide Franceschini | Chief Trader and Founder at SurfingThePips.com

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One Response to “02 NOV 2012 | Free Daily Analysis | EURUSD : POSITIVE BALANCE”

  1. riccardo November 2, 2012 at 4:43 pm #

    Hi Davide,
    yes, you are right, a positive day in terms of pips, but not in terms of money profit … at least for me.
    The eu trade was classified “A” while the ej trade was classified as “AA”.
    So i have gained 25 pips (as signal) with 0.04 lots and loss 32 pips with 0.06 lots…
    But i am a “novice” of your forex system, so i’m not worried… and sorry for my “maccaroni english.” :-)

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