I opened it at 1.31158. Now it’s up to 1.31779 
I am not sure what I should do: close it now or wait a while hoping it will go down a little?
Right now I see double diji on the 15 min candlestick chart, therefore I am guessing that the rally might be losing steam and is going to decrease now (at least a little!). Would like to hear some opinions of others
Ok, so depends how much you can loose, how long you want to hold, etc
The link below is for a 1 hour chart expanding back over 30 days…
Right now price action just peaked over a major sloping resistance line…
Looking at the move it took to reach the new placement… I see 300 pips… looking at historic price movements for the posted chart I see 350, 250, 350, and 300 pip moves to the up… so my thinking is we can see 50 more pips before the retracement… I see retracements for the said ups for 100, 175, 150, and 200 pips… so based on historic data there is a 50/50 possibility we can see a nice retracement to get you out of your position… or, nonsarcasticaly, it could run up to a whole new S/R level several scores above your position… depends on world news, events, and the lunar phase…
Large image beware.
http://img5.imageshack.us/img5/7063/marketscope202009042402.png
-Prop
Hi Lakontis,
I see the dojis you mention on the 15 min chart, but I think the EUR/USD is heading for the 3200s before a possible retracement, but even so it might not come down that low before it carries on up.
In this case, the decision is yours whether you hold for a bit or cut your losses. I’d cut my loss and wait.
Having said that, I’ve got my trades for the day on already and have posted my trades for the day here in one of my posts.
All the best.
tp hit ! 1.3200
OK I closed it at 1.31725 (total loss of 277$… I guess I can learn from that. I REALLY was unsure when I took that position, I knew I shouldn’t have) and it seems like that was a good decision since its now up to 1.31920 at the time of me typing this.
make your lot size suitable for your risk liking so that u dont sweat buddy !
for this long, i used the “stupid trading” method… IE the trend…
if you look at hourly or 5mins even, it is obviously long…
I was looking at the bearish trend from 13th to 22nd. I guess I didnt realize that the trend was changing
ah … ok … i think trend is very subjective… different TF different trends… so depends on your horizon too…
thats y MM is impt… because i am pooor at trading too… so 2% wont kill my acc…