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fxswing
Sep 23, 2014 9:32 AM

EURUSD - Short opportunity at weekly resistance Short

Euro Fx/U.S. DollarFXCM

Description

EURUSD Short trade

Reasons for the trade:

- Trend is obviously down
- Pushing into weekly pivot 1.2883
- Pushing into 100sma 1H channel high
- Pushing outside of a well defined descending channel
- At 38.2% retracement of the last swing from 1.2994-1.2815 at 1.28835

Entry: 1.2883
Target1: 1.2820
Target 2 1.2760
Stop: 1.2930+
Comments
DavoodWadi
Good job there
fxswing
Sold the rest of the position at 1.2784 ahead of the 1.2760 target 2, not wanting to give back the gains.
Trade closed now.
fxswing
Ka Ching @1.2820 target 1 reached.
Moving the stop on the remaining of the trade to 1.2863+ for a 1.2760 target.
Free ride with market's money now.
fxlife
What does the + mean in stop loss 1.2930+ ?
fxswing
That's means that anything above 1.2930 is a valid stop. Risk management is based on this point.
If price should violate 1.2930, trade would be technically invalidated and closed to realize the loss.
Bulldee
This chart even Picasso or VanGaugh wont understand ! :)
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