As promised for today, here is the article on The Law of Chart which I am able to share with you from Surefire Forex Trading. It's a long article and maybe boring if you are in a hurry. Please do not skip a paragraph of this article. You need to digest between the line to fully understand it. It takes me some time to master and apply it into my own trading practice. So don't worry if you can't master it in a week or so.
While I am not trading for the past few days, I managed to have a look on the market until the last Friday. And from my post-trading that I made today, the market seems very choppy and in the period of consolidating. All my charts from the 4-hour down to the 5-minute chart does not agree with one another. I guess due to the long awaited bailout plan bill of US 700 billion still hanging around within the Congress.
But I hope by next week the Congress in the States can make up their mind about the current economic situation before the US NFP. I will resume my trading by monitoring the market behaviour on Thursday all the way up to the last minutes before the released of the US NFP. I will be entirely trading on the 1-minute chart.
Until then...happy weekend and have a great celebration on the soon to come Hari Raya.
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