EURUSD Institutional Short Setup Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Dec 27, 2016 1:26 PM

Hello traders.

I am still awaiting a push up into the 1.052 institutional resistance figure on this pair.

If I do see a push up into the figure throughout the week I will be looking to get short with an order at 1.051 and a 40 pip stop loss.

As always look to get whatever you can on the profit side.

Enjoy!

Comments

albantwizz

⋅ Dec 27, 2016 5:37 PM

hey unique forex iam new at thihs trading website but have been trading own my owm for awhilw i was hoping if you could please explain to me what institutional resistance and support levels are,or can you recommend a book

UnknownUnicorn261897

⋅ Dec 27, 2016 5:52 PM

@albantwizz, Hi. Institutional levels are not something that can be learned in a book. We receive research from a handful of institutions which is where we get the levels from.

albantwizz

⋅ Dec 27, 2016 6:02 PM

@Unique4xPro, ohh okay thanks alot appreciate it

jigneshsoni1

⋅ Dec 27, 2016 3:03 PM

Do you enter a pending short order at 1.051 now or do you wait for the price to get in that area?

UnknownUnicorn261897

⋅ Dec 27, 2016 3:06 PM

@JigneshSoni, Hi! Good question... I wait for price to get closer to the area and I will place my order the day of. I do this because I only want to take the trade after any high-impact news comes out and settles down.

jigneshsoni1

⋅ Dec 27, 2016 3:09 PM

@Unique4xPro, Thanks for your quick reply!!