Posts Tagged eurusd
If you'd been following my Twitter profile on http://www.twitter.com/makemoneyalan, where I post my trades in realtime, you would have seen that I entered long EURUSD on Monday at 12911.
I also posted the other day about how I wanted to move the stop to the days lows.... how I failed with that! I am still finding that I'm not holding onto my trades long enough and the temptation to exit my trades in a profit is still something that I need to work on.
Anyway, here's the trade:
The en
December 12, 2012
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The below chart shows what happened to the Euro (or EURUSD) forex pair on Friday.. the price action had plumetted shortly after the pin bar (as highlighted in blue).
I was actually a day late with this trade but the price was pretty much as the same level of the close of the Wednesday bar so I shorted it. My initial target was the previous support level 12885.
You can see that the price hit that yielding me 50 pips but it also continued to fall.. there was another 50 pips in the move.
November 4, 2012
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I got my 90 pips from the trade last night. As you know from my previous post, I had entered the market at 1.2370 with a stop at 1.2460 and looking at a 1:1 risk to reward trade which meant a limit order at 1.2280.. ie a 90 pip stop with a 90 pip target.
The two spinning tops were the key here showing that there was selling at the levels, that coupled with the downtrend movement made me feel it was a good short play and I got rewarded.
So, a decent start to my trading again after all t
August 9, 2012
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