Sell below 1.1877. Stop loss at 1.1974. Take profit at 1.1728. Reason for the trading strategy (technically): Price has reached our profit target perfectly. We look to sell below major resistance at 1.1877 (Fibonacci retracement, Fibonacci extension area, horizontal overlap resistance) for a push down to at least 1.1728 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 94% where we soon expect a corresponding drop from.
Trade closed manually
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Closing the trade at breakeven, awaiting further price movement to decide!
Euro is likely to touch 1.20 or 1.21 before reversing...
muhmasry
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@dakkid, it can happen 50% and it can not (it is confused point )
mariomf644
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you mean SL reached, no?.
c_myview
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looks like it shot to the SL....any update?
FuckyouTvview
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@onlinewithaquarius, My vote is hold for sure mate, for 3 reasons:
1) Mex, like other pros here, put their stops in places that give enough room for if/when the price will temporarily go against the trade. And if/when they are hit, the price will usually continue in that direction further. -- It hasn't hit stop yet so trade has just as much chance to be successful now as it did when we entered it.
2) Its Friday, what I think of as "the Friday fakie" when many of the bigger fish traders will likely hedge their trades to counter swaps or potential news over the weekend etc.
3) What I call "the shake" is that the whole forex industry is made up by the "you's and me's" but is essentially controlled by major banks (who really like money lol) and moments like these are to play on your fears and have you exit early and guarentee its at a loss.
Aside from those 3 reasons if you were to look at your macd there is a large bearish divergence building and has been for some time so that could equalize itself sooner or later with a fast drop, and (from my own experience lol) I can almost guarentee come Monday evening or Tuesday morning what you'll read on Mex's next chart it will say (as usual) profit target reached perfectly! prepare to buy! lol
Lastly I think of Kenny Rogers, know when to hold em etc., you know the one as he says at the end of that, never count your money when your money when your sitting at the table, hes not talking greed, hes talking about nerves. :)