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Traditionally, a trade is considered less risky if a trader goes with the flow, so to speak, therefore the expression “trend is your friend”. Once you determine a trend,  re-enter in the same direction after pullbacks at previous highs/lows. I  am attaching a picture with the entry level.

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Bollinger Bands is a standard leading/lagging technical indicator invented by Jon Bollinger to monitor market volatility with the prices situated above and below the center of the band, which is the MA itself, traditionally defaulting on 20, and the “Bands” above and below representing the diviated price dispersment in regards to the MA 20 itself.

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That will be the level to take some profit off the table  and lock in some profits ( make the remainder of the position risk – free with the Stop Loss put to entry . Provided the 1.70 – level gives , our next projected target is 1.6725.

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Currency Trader Mag
You can read up on a ton of useful material and both fundamental and technical analysis in this free publication. They will never ask you to subscribe, unless you want past (archived ) issues. You can find it @ Currencytradermag.com

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Factors affecting currency trading

Although exchange rates are affected by many factors, in the end, currency prices are a result of supply and demand forces. The world’s currency markets can be viewed as a huge melting pot: in a large and ever-changing mix of current events, supply and demand factors are constantly shifting, and the price of one currency in relation to another shifts accordingly. No other market encompasses (and distills) as much of what is going on in the world at any given time as foreign exchange.

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Here is my analysis for the next week : we are in the consolidation ” wedge” and ready to break out. When the ” break out ” occurs, i expect it to be a powerful one.

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There are a number factors to consider when you choose a Forex broker and to help you do so here is a list of 10 of the key factors you should consider when you select a Forex Broker that will suite you.

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Fading rallies is the preferred strategy for the New York close, sell down to 1.6275 first with 1.6235 to follow.

Bears will get really aggressive below 1.6180.