EUR/USD is back testing the Support that gives a rally downtrend (hi=1.1512/Low=1.1477)
Pivot = 1.1495
S1 = 1.1475 ~ 1.1480 <=== need to break this one
S2 = 1.1463
S3 = 1.1448
Hi Ying,
If your EURUSD short trade is unable to hit your desired target before US open.
My recommendation is to close all open position EARLY.
During the London & US overlap session, market might get too volatile, and your account may not have adequate margin to stomach.
Good Luck
Your right, since i have a small Capital in my Trade. It might go up again in pivot point.
I still believe that it will Rally to 1.1462. There’s a money below 1.1475 to 1.1480, i just don’t want to missed this.
Sorry it is 1.1426 i mean…
Ying. Just my 2 cents worth of advise. Is not how you want the market to moves that matter . is how you manage your risk and probability .
Joe
Or the market gets hit with magic numbers out of the US (ADP, Trade balance and PMI tonight) and takes a couple of hundred pip dive. Possible yes. Probable, well maybe.
Ying, stick to your plan, never deviate from it. Our opinions should mean nothing to you.
And keep up the hard work bro.
Alpha havoc and Joe Ng your both right and i really appreciate your concern about me.
Yeah i saw also the US stock the S&P500 went rally down more than 70%, i still believe US will rally today due to the US stock market went down. Same with the BOJ, Nikkei went down and Boom Yen rallies up!
If i loose this would be good for me.
The key point here i tried to trade in the opening price which violates my nature of trading and trading plan. Second if i loose i need some rest, its been 3 weeks keep on watching charts and its been fun too.
And on second thought, I closed all the Trades and Protected my Capital :), let me try a new up
I saw a book financial times and reread again i think was too greedy. So i decided to close all my loosing and winning trades 
Hi bob,
I agree that Ying should stick to the plan.
From what i see, 2 things can happen later.
-
Insufficient margin, some position automatically close out, & learn another hard lesson on Capital preservation.
-
Hit a home run, and sleep well tonight. Lesson on Capital preservation learned in a less tormenting manner.
Anyway, my gut feel is that EURUSD may attempt another shot to break this week HIGH. I could be wrong.
Good Luck everyone,
Many green pips ahead
:21:
And i noticed that i still have 553 dollars from my capital 482 dollars which i gain only 71 dollars
Im still here then I’m glad people are watching in my small capital
its going back to the pivot point New high and low before the US session (Hi=1.1512/Low=1.147)
EUR/USD Resistance and support before the US Market
R3=1.1559
R2=1.1535 <== key entry upper Breakout (1.157)
R1=1.1517
Pivot point = 1.1493 <=== seriously? it went back again! another pivot
S1=1.1475
S2=1.1451 <== key entry short Breakout (1.1426)
S3=1.1433
I’ve got a key setup
Long @1.1543
SL @1.1517
limit @1.157
if wrong
short @1.1443
[email protected]
limit @1.1426
I would go long at 15001
Sl : 14600
Tp : 15400
RR 1:1
Risky trade though. I take the risk.
If breach below 14600.
I go short Tp: 14200
OK let me set up here also long
Long @1.1525 above R1
SL @1.1494 <== my misery i will not enter here ever again
Limit @1.157 <== breakout Daily
Because of that dzjfh@sjndd@jbjsj shooting star in the Daily Chart i loose 50% of my winning Trade, i will not gunna believe in shooting start or hammer whatever, i will trust only my Trading Plan
Your risk ratio is so cute bro
5 minutes before the US Market will open CBNO Day!
if i had continually short trade together with my ego my account would burn, burn equals broke!
A tuff lesson I’m sure most of us have experience. Reminds me of something Lexy said, her daily goal is to trade tomorrow. Plenty of food for thought there.
And then with this news coming up and considering what we are trying to do your comment does ring true about closing all trade. Old mate Jake is on the money when he says sometimes the best position is to have no position.
Personally, I’m having trouble trying to figure out who actually needs EUR’s at the moment. I went short when price broke 1.15 at the start of the day, 50 pip sl. Don’t normal trade like this, just see a good R:R open.
I too will probably be wrong lol