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Lessons from Legendary Stock Traders: Jesse Livermoore

August 2nd, 2011: Wedge at GBP\JPY, +320 Pips at EUR\JPY

First of all I'd like to begin by showing you that the trade we have recommended on Friday has already progressed and reached its profit target which is +320 pips :)

31th July Weekly Analysis: Flag at EUR\USD, Channels

Channel Patterns, Pullback - Forex Analysis 29/7/11

A channel pattern in the EUR\JPY has did a breakout and did a pullback to the lower trend line, and began a continuation of the downtrend. Price has also created a Bearish Engulfing candlestick pattern which is a strong sell signal. Right now we would enter a short trade with stop loss right above the engulfing candle. Take profit is is the size of the channel itself which is 225 pips in size. That's a great trade with a good risk:reward ratio.

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