I don't normally trade this pair but after seeing the rise to 1.47 area and knowing (suspecting the USD) would correct and get a bit stronger I risked it and went short on this pair. I was tempted to go long but I tempered my temptation with discipline and waited. That wait paid off and I jumped in risking 300 pips in stop loss for this pair (knowing it could have kept going up) , but this is my trading style and for me it works. I'm not always the first one in the pool but sometime I lilke to dive in a see where it goes. Sometime it doesn't pay off and I lose. Sometimes I win big. This is one of those sometimes. For now I'm happy to lock in a profit stop and ride it out to see if the EUR will revisit it's previous lows. There is a 2000 pips range in here and the way the market has been these days I'm up for a risk and payoff and or loss. How else do you know where it's going? When your trade is showing a negative number you have no doubts where the market is going and most certainly where it went after you got in.
Forex Trading Signals
- EUR/CAD - Buy @ 1.58 zone
- EUR/JPY - Sell @ 130 level - Buy @ 120 or lower
- AUD/USD - Buy @ 63 Zone - Sell @ 70 Zone
- USD/CAD Buy @ 1.20 Zone - Sell @ 1.30 Zone
- EUR/CHF - Buy At 1.46 to 1.48 zone
- USD/CHF Sell @ 1.18 to 1.20 zone
- GBP/USD - Sell @ 1.50 zone - Buy @ 1.34 zone
- GBP/JPY - Sell @ 140 zone
- EUR/USD - Buy @ 1.24-1.26 zone
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Friday, December 19, 2008
EUR/USD: Short @ 1.4613 is up 800 pips!
I don't normally trade this pair but after seeing the rise to 1.47 area and knowing (suspecting the USD) would correct and get a bit stronger I risked it and went short on this pair. I was tempted to go long but I tempered my temptation with discipline and waited. That wait paid off and I jumped in risking 300 pips in stop loss for this pair (knowing it could have kept going up) , but this is my trading style and for me it works. I'm not always the first one in the pool but sometime I lilke to dive in a see where it goes. Sometime it doesn't pay off and I lose. Sometimes I win big. This is one of those sometimes. For now I'm happy to lock in a profit stop and ride it out to see if the EUR will revisit it's previous lows. There is a 2000 pips range in here and the way the market has been these days I'm up for a risk and payoff and or loss. How else do you know where it's going? When your trade is showing a negative number you have no doubts where the market is going and most certainly where it went after you got in.
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