motleifaul
Long

More than a retracement

FX:EURUSD   Euro Fx/U.S. Dollar
58 0 1
The Euro             recovered from its lows substantially more than the usual fibonacci retracement levels. This is a sign for a further intention to rise.
Trade closed: stop reached
Trade active: I am re-opening this position. When we look to the monthly chart then we can see a very major bottom. I doubt that this can be broken easily. Thus I suppose that a (major?) etracement is in the pipeline.
Comment: I took a first profit now to save me from further loss. I am leaving the remaining position long.
Trade closed: target reached: I am taking the second profit now thus minimizing the loss.
Trade closed: target reached: Let's call it a deal! I am closing the position now having minimized the loss.
If the situation becomes clearer I will enter another long position.
But I will be waiting for another breakthrough to the upside to have my opnion confirmed.
Comment: It is creazy. I have closed all positions with profit. When we look at the chart now we see that that profit would have been very much higher now. But - no it wouldn't, because I would have been stopped out definitely before the spike up. Creazy markets! Thus I am happy to have the profit taken.
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