ForexPros Daily Analysis May 16, 2011
Free webinar on ForexPros - Mastering Trader Psychology
Expert: Rande Howell
Start: Thu, May 19, 2011, 09:00 EST
End: Thu, May 19, 2011, 10:00 EST
Mastering Trader Psychology
The 5 Essential Skills for Peak Performance Trading
Developing an effective mindset specifically for trading is often the missing element in a trading plan and becomes the barrier to desired success. It is this blindness to the inner game of trading that stops the trader from having a breakthrough in achieving his potential. After endlessly crafting a methodology and platform into a trading plan that should give him (or her) an edge in the markets, the serious trader acknowledges that the problem in his quest for success is him (not his trading plan) and his psychology that actually puts his trading plan into play.
How do you go about building a psychology of self that brings the missing mindset edge to your trading plan? Find out in this eye opening webinar. You will learn how the interconnection between body, brain, emotion, and mind forges the self limiting beliefs from which you trade. You will see a process built upon 5 essential skills that empower a trader to disrupt the power of fear, anger, and impulse that hijacks the mindset needed to trade. You will also see how to develop a mindset that is rooted in discipline, patience, courage, and impartiality that gives you the psychological edge to use your trading plan effectively.
Come, learn, and open yourself to the possibility of peak performance state of mind.
Click here to join free
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Euro, Pound in Measured Moves Short, Yen At Bottom Range
Euro:
On the daily the euro is in measured moves short and coming close to breaking its longer term long, with a line in the sand at 1.40031. On the short side, the euro hit its 61.8% of its short from 1.44325. The next traditional short is at 1.41924.
On the 15 min chart you can see the next short at 1.42733, the short was broken but then hit the target at 1.40495. The daily pivot is at 1.41735 which may hold the euro down.
Pound:
On the daily the pound is in measured moves short and hit its 23.6% target at 1.61581. Good to wait to see if pound bounces before measuring next short setup. The next full traditional long is at 1.60447.
Yen:
On the daily, the yen remains in its short setup close to the bottom of the range it has been in since Sep 2010 and all time lows. The 50% short is at 81.17, with a target at 78.77. Previous lows are acting as support.
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Forex Trading analysis written by Diana Rochford for Forexpros.
---
New on Forexpros, the Currency Correlation Calculator !
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Free webinar on ForexPros - Mastering Trader Psychology
Expert: Rande Howell
Start: Thu, May 19, 2011, 09:00 EST
End: Thu, May 19, 2011, 10:00 EST
Mastering Trader Psychology
The 5 Essential Skills for Peak Performance Trading
Developing an effective mindset specifically for trading is often the missing element in a trading plan and becomes the barrier to desired success. It is this blindness to the inner game of trading that stops the trader from having a breakthrough in achieving his potential. After endlessly crafting a methodology and platform into a trading plan that should give him (or her) an edge in the markets, the serious trader acknowledges that the problem in his quest for success is him (not his trading plan) and his psychology that actually puts his trading plan into play.
How do you go about building a psychology of self that brings the missing mindset edge to your trading plan? Find out in this eye opening webinar. You will learn how the interconnection between body, brain, emotion, and mind forges the self limiting beliefs from which you trade. You will see a process built upon 5 essential skills that empower a trader to disrupt the power of fear, anger, and impulse that hijacks the mindset needed to trade. You will also see how to develop a mindset that is rooted in discipline, patience, courage, and impartiality that gives you the psychological edge to use your trading plan effectively.
Come, learn, and open yourself to the possibility of peak performance state of mind.
Click here to join free
---
Euro, Pound in Measured Moves Short, Yen At Bottom Range
Euro:
On the daily the euro is in measured moves short and coming close to breaking its longer term long, with a line in the sand at 1.40031. On the short side, the euro hit its 61.8% of its short from 1.44325. The next traditional short is at 1.41924.
On the 15 min chart you can see the next short at 1.42733, the short was broken but then hit the target at 1.40495. The daily pivot is at 1.41735 which may hold the euro down.
Pound:
On the daily the pound is in measured moves short and hit its 23.6% target at 1.61581. Good to wait to see if pound bounces before measuring next short setup. The next full traditional long is at 1.60447.
Yen:
On the daily, the yen remains in its short setup close to the bottom of the range it has been in since Sep 2010 and all time lows. The 50% short is at 81.17, with a target at 78.77. Previous lows are acting as support.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
New on Forexpros, the Currency Correlation Calculator !
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.