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Monday, May 2, 2011

Currency Market Still in Consolidation

Once again the FOREX currency market has found it's way into a roaping pattern as the EURUSD and GBPUSD which are the main pairs I trade, are caught in this bit of consolidation.  Trading a lower time frame with tight trailing stops is about the only answer.  Had a couple of good trades on each last evening on the 5 and 15 min charts, so today with the banks closed in major areas of Europe and Japan I believe that this pattern will continue.  Good trading and remember to manage your money well, trading is risky.

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