TomProTrader

EURUSD:Shorts Likely Continue, Recommended To Hold Shorts #Forex

FX_IDC:EURUSD   Euro / U.S. Dollar
1068 6 19
Traders

Looks like shorts are to continue from this level to target level. It's a bit low to short new position, but if like me you are holding short position, it's worth holding onto, the long term target is likely to be hit soon.

If you have existing position I'd hold it and anticipate a realistic chance of hitting the long term target (@1.0500's handle)

Best of luck traders
Tom

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Finally got the daily break and close below the 1.0700 even handle, ready to short :)
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Hi, I have 2 buy position at 1.104 holding since more than 2 weeks. When can I hope to recover? I also have 3 sell positions from 1.07 since a week. Am confused what to do next. I would be very glad for your suggestions.
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I thnk there is a possibility that the market will go up a bit (up to 1.0850 area's) But this is just my opinion
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Hey mate, great analysis by the way. But I do believe that waiting for a daily close below the 1.0700 even handle would be the best option before going short. Based on the monthly, we saw more than 500 pips rally to the upside from that level in the month of April 2015. Also we got Draghi speaking this Monday morning @ 5:15 am. So I will stay on the conservative side and wait for a much stronger evidence from the market before continuing to short this pair. As always appreciate your take on this pair. All the BEST mate :)
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TomProTrader moneymaking
Hello Moneymaking, always nice to speak with you.

Yes I agree with you. I think it is too late to short from here. If you see the first line of my idea,
"Looks like shorts are to continue from this level to target level. It's a bit low to short new position, but if like me you are holding short position, it's worth holding onto, the long term target is likely to be hit soon."

I do, however think if you have any EURUSD position, it should be kept. :)

Best of luck with all endeavours.
Tom

+1 Reply
moneymaking TomProTrader
It always a pleasure talking with you too mate.The long term picture is still very bearish on this pair, totally agree with you on that. I rarely hold any long term positions especially due to my account size. But there is absolutely no reason for not holding onto those short positions. Only way to see your account size grow is to let the winners run and cut the losers short, win more than you loose. Wish you the best :)
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