"IntelliTraders" 
EUR/USD trade.

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Mon, 08/08/2011 - 16:12
#1
Geppy
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Joined: 2010-10-22
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EUR/USD trade.
Chart

EUR/USD was in a downtrend, making lower highs and lower lows. This trend pattern was more obvious on the 4hour chart. Today EUR/USD made a higher high, changing the direction of the trend, dropped quite a bit down to 1.4130 area where I think it's making a higher low now.
I've bought EUR/USD at 1.419, stop loss at 1.4125. No target for now, just a mental note to move the stop loss at breakeven asap.

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Wed, 12/14/2011 - 08:39
#2
itmtrader.
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The Forex Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will be no errors

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Thu, 08/11/2011 - 14:26
#3
Geppy
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My exit proved to be a little too impulsive. That happens sometimes when the market gives you contradictory signals across the board and you want to manage your trades as tight as possible.

The setup was valid in the end. Price never reached the initial designated stop loss level and eventually went as high as 1.44 where it made a double top. Could have made 175-200 pips profit with this trade but there will always be another setup around the corner.

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Mon, 08/08/2011 - 21:43
#4
Geppy
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Points: 280

Closed the position with -20 pips. Cheap exit in my opinion. Things don't look so good anymore.

Waiting for the next setup now :)

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