Hi… this is my first post. after studying about forex, i’d like to test my trading theory…
today, my prediction for eurusd is long.
the target is the highest blue line.
stop loss is 40 pips.
that’s all
What have you got to back up the prediction of eurusd e.g. news, upcoming stats?
I’m an fundamentalist, for that i read and search information from good news portal. seekingalpha is one of it.
some contributor stated that usd is over valued, it match with my thought. so i took long position.
technicaly, i use chart to find entry position. in the chart i posted, the candle is the third touch of a support and formed a nice tail.
setup for 2015-05-18. still long…
have a review of this link : seekingalpha[at]com/article/3190286-what-will-drive-the-dollar-in-the-week-ahead
technically :
Buying at the top is not a good idea. If your analysis and price action tells you it’s a buy then better to wait till it come near the previous support. You risk will be low because if that support breaks you come out from that trade. So patience is very important in trading,
long trading with eur. we can refer news of europe economic. we will have better signal. i do it everyday
thanks. i agree with it…
at the time i posted my last trade, i predicted the euro would went up. so i put buy-limit order (preparation for eur touch it. if it touched, then delete other pending order) and put buy-stop (preparation for eur didn’t touch buy-limit. if it touched, then delete buy-limit order).
actually, i put the wrong title of this thread. can i change the title ?
i personally work like you do, i found it is a somehow good method although technical analysis could not hurt at all