forex4noobs
Short

Potential short @ 1.0990

FX:EURUSD   Euro/U.S. Dollar
1168 20 27
I see potential for a short if price breaks the 1.0990 There are a few requirements that need to be met before I would consider this trade.

  • The current candle needs to close as indecision, it looks like indecision now, but it has yet to close.
  • The new daily candle should not push higher than 1.1055 .

Trade closed for profit at the 1:2 target
+3 Reply
Target was hit today at 1pm for a 148pip profit. :)
Shortly after though due to the ECB news release, price quickly reversed and would have hit my stop had I not stuck to my 2:1 target ratio.
Reply
I am in this trade also, good luck for all.
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Cool!
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Thanks Nick, yeah I got in :) I set a Sell Stop and went to bed! It triggered around 1am'ish.

Entry: 1.0988
Stop: 1.1063
Exit: 1.0839

Good luck.
Reply
Great work
Reply
Entered this trade

Entry@ 1.0990
Stop@ 1.1061
Exit@ 1.0850
Reply
PieroPontra forex4noobs
How about tomorrow ECB rate decision? How will you handle the trade if it will not close before the news? Thanks Nick, you're great.
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forex4noobs PRO PieroPontra
Depends on a lot of factors. My general rule is to keep trades open as long as they are in profit.
Reply
PieroPontra forex4noobs
Aren't you scared about slippage if news will go against the trade? Slippage could jump the SL sometimes, it happened to me! Could u be more specific on how u'll handle this? (trailing stop, premature exit, SL to break) I will really appreciate Nick, I'm learning a lot on F4N.com and I'm considering to join your advance course. Thanks!
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