Monthly Archives: July 2013

EURGBP monthly chart

EURGBP prints continuation pattern on monthly chart; finds support

EURGBP shows flag-like continuation pattern on Monthly Chart Flag or pennant-like chart patterns are trend continuation patterns. They consists of two key features: a ‘flagpole’ and a ‘flag’ or ‘pennant’. The flagpole represents the initial impulse and the flag represents a consolidation / retracement movement.

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Cost of forex scalping versus swing trading

Imagine a trader is a machine. This machine trades 10 times in an hour. Will machine wear out faster than another machine that trades once in a day? I trade once a day. I aim for 100 pips each time. Definitely I feel happier than another trader who trades 10 times an hour who make the same amount.