Posts Tagged fx
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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The Euro forex pair looks like it's been downtrending for a while and the recent daily price action has printed two spinning top patterns. This shows some indecision in the markets and to me, looks like we may have reached a short term high before resuming a downward trajectory. In fact, todays price action was mainly south with a little pullback.
I've shorted this at 1.2370 with a stop above yesterdays high at 12460. Looking for a minimum of a 1:1 trade here.. let's see how we get on!
August 8, 2012
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My USDCAD trade got stopped out today which was very annoying.. it was clipped by a mere 10 pips and then reversed up 100 pips! UGH! Frustrating to say the least but there you go!
June 11, 2012
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