[TW] 12-10-2011 EUR/USD (Short) by Pip Devil

EUR/USD 1-Hour

See chart here:


Long or Short: Short
Entry Point: Market (1.3370)
Stop Loss: 1.3440
Profit Target/s: bottom of the channel (1.3285)
Reward-to-risk Ratio: 1:1 at the beginning, but can be more depending on how position is managed
Risk percentage: 2%
Indicators used: 100 SMA
Trade Rationale:

  • Price below 100-SMA and finding resistance
  • Price rejected by the falling channel again
  • Risk aversion
  • ECB cut rates by 25 basis points, another one expected in January

very nice!

only 10 hours and gain taked!!

Thank you so much…

The problem now is: what to do in next 5 days?? :stuck_out_tongue:

bye!

Thanks.

I’m currently looking at EUR/USD still. I think the move is extremely extended and I am expecting a retracement soon. POssibly 50 pips.


good time to short?

Not convincing for me yet. That bearish divergence looks suspect too. Let’s see! Good luck!

not so sure me too…

anyway i take this little retracement with 75 pips gained on 3 positions.

today is gone in less than 3 hours.


convinced now?

I didn’t catch it, stopping at 1.317 :frowning:

leaved 100 pips on the way!

Hah! Looks like I was wrong. Tough luck on the entry and exit mate, **** happens. Haha