[TW] 27-1-2012 Short EURUSD by manipakyaw

Trading Discussion
1

EURUSD Daily

EURUSD22.jpg700×371 21.7 KB

Long or Short: SHORT

Entry Point: half now (1.3100) and half at 1.3200

Stop Loss: 1.3375 - above 50.0% Fib

Profit Target/s: 1.2700

Reward-to-risk Ratio: 450/ 225 - 2:1

Risk percentage: 2% - each position 1%

Indicators: 62 SMA and Fibonacci retracement

Trade Rationale: I’m still very bearish on euro. Doji on the daily, and price bounced from a support level in the past. It is also finding resistance at the 62 SMA.

Trade Adjustments: Shorted 1% now at market price, will short again another 1% if it hits 1.3200.

2

It actually hit 3200!!!

3

ok, i’ll try to follow, short 4 position each 1% at 1.3218
pt1: 1.3160
pt2: 1.3094
pt3: 1.2960
pt4: open

SL: 1.3266
move SL +10 or breakeven if pt1 hit
i’ll test in virtual and demo :smiley:

4

Looks like you hit your first tp. congrats dude. i’m still at d average of my 2 positions. I plan to hold on to this for a bit. good luck!

5

I made a 100 pips on this trade. Thanks :slight_smile: