[TW] 2012-08-13 Long EUR/USD by Bijoymj

[fedegmail]

Not a great lover of this trade. If you check out the daily price, the pair have been in decline since February and look as if it's dropping of the top of the descending channel. I'm going short with a target of 1.1950

You will see your channel broken
I'm kidding, have a nice trade and good luck

[Bijoymj]

100 % supporting you for your present trade.

[Bijoymj]

Best of Luck

[jalapenoninja]

Hi Bijoymi,

On this trade did you/would you move a trailing stop up below the price rise? (I'd be guessing yes). And if so, how many pips below the moving price would you keep the trailing stop?

Thanks

[Bijoymj]

No trailing stop is added till now. Planning to bring SL to BE or even up to 1.2300, when price reaches 1.2380-1.2400 area, where a resistance is expected.

[blseven]

hi, just joined. been using channel trading for many years as full time trader. just wish to add on that there's a much higher chance of it turning down from around 1.2400 and max 1.2440. so actually for those that haven't got into the trade, be better if you look for shorting chance around this area.

cheers

[infinity16899]

thanks for the reminder :-). will take note of that too.

[blseven]

hi, just joined. been using channel trading for many years as full time trader. just wish to add on that there's a much higher chance of it turning down from around 1.2400 and max 1.2440. so actually for those that haven't got into the trade, be better if you look for shorting chance around this area.

cheers

cheers to anyone who happen to see my comment and heed the call for shorts

[fedegmail]

cheers to anyone who happen to see my comment and heed the call for shorts

hey hey hey, the price is the same of monday, a short position is not so great

[blseven]

hey hey hey, the price is the same of monday, a short position is not so great

hi,

i'm not sure have you took a closer look and counter check with the price then of my original posting or are you making just a off short no brainer comment. if you take a closer look, you would have notice that my 1st comment was posted on 14th aug near 2pm my gmt+8 timing. the price then was about 1.2375. right after it went as far as 1.2385 then drop to a low of 1.2265, a 120pips drop!!

i don;t know what kind of trading style you have brudder....but as a trader one should be nimble and react accordingly to the market price movement, if you cannot profit from this kind of 1-2days 100++pips movement then please refrain from commenting stuff like "hey hey hey, the price is the same of monday, a short position is not so great ". it just shows that 1stly you don't study things in detail (the timing and date i posted, the prices at that moment etc), and secondly, you must a great trader who looks at long term position trade of 300-500pips, that's why you think a 100pips gain within 1-2days are "not so great".

said my piece.....thanks