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Trading In Black And White Forex Trading Newsletter - 6/8/06

Aug 17, 2007
It seems, still, as if many of you are not getting all of our newsletters. This, of course, is a problem. We have been in contact with our list management company, and they say that the worst of it should be over.

However, if you do not receive a newsletter for a night or two, please let us know so that we can get you up to date.

We try our best to make these newsletters independent of each other, so that if you miss one night, it will not set back your trading any.

Also, since trading is a VERY repetitive, and simple skill. We tend to discuss the same basic problems in many different newsletters.

We make every effort to not reference older newsletters just in case you no longer have them. We feel that in order for you to truly learn, you must be exposed to what we are trying to share with you over and over.

That being said, we have seen some great response to the "Trading In Black And White Forex Trading Contest". Many of you have already registered, but there are still a few of you haven't.

Don't make me come over there...ha ha. We know that some of you never received the information due to our list problems. So, we are going to resend the info again, in the next few days.

For those of you who have received it already, please forgive us for the extra email. For those of you who haven't, it's time to get excited. The entry prizes are great, as well as the winning prizes.

Alright, so let's get on to tonight's trading.

Last night set up for some good trading, although, I admit, I missed my entry by less than 10 pips. For those of you who were nice enough to let me know about you GREAT trades last night, thank you. This further proves what we are trying to say to you.

You can out perform us on any given night, week, month, or year once you have developed your own trading style.

We love the "testimonial" style email from you all. Letting us know how great you are doing since reading our newsletter.

So, tonight, there are several support and resistant levels that stand out.

From the support side - 1.8520, 1.8440 (Notice the big gap between levels)

On the resistance side - 1.8600, 1.8640, 1.8680

Remember to watch the price action at these different levels for a good entry point.

Just to point out an interesting opportunity...look at the large gap (80 pips) between the support levels we've mentioned. This gap may lead to a good trading opportunity.

Many of our traders are looking to go short at the breakout below 1.8529 and ride that wave down to mid 1.8400's.

A night like tonight is a great example of how many different ways there are to find good trading opportunities. Some of our traders are waiting for an upwards bounce in order to get short at what they deem to be a "safe" level.

While others are already long from 1.8550 and are looking for a bounce up to close out their trades. Some will also be going short when the close their trades, while others won't.

Even still, some of them are looking to go short the breakout of 1.8529.

All of these strategies are valid, and potentially profitable. It's simply a matter of your level of comfort, aggressiveness, discipline, and trading styles that will determine which trade or trades make the most sense to you.

So, have a great night and good trading.

We find these support and resistance levels using a set of technical indicators and other variables that we have found to be most successful for us. We use several other indicators and a variety of technical analysis techniques to enter and exit all of our trades. Every trader will have a different combination of indicators that makes the most sense to them. Learn how to develop your own successful Forex Trading style with this Elite Forex Trading Course.
About the Author
Eddie's Trading Tools:
Forex Seminar | Forex Trading Course | FREE Forex Trading Contest
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