USDEUR: USD now approaching first upside taget. Am taking profits at that point, wishing to lock them in as we could be approaching limits of USD rally, as per comment. We'll then need to break above this approaching resistance to trigger the next USD long.
Comment:
Or just go flat as target range is tested and wait to see which way it breaks from there - but stop levels increase - so shorting from the top (if reached) with a stop just above it is both bravest and most sensible - because the loss is so small if wrong. Takes real bottle - or a reasonably reliable and disciplined trading system - to do it though. But it IS the right thing for a real trader to do here...and let the chart action after that dictate your next move for you from there. The chart will always tell you if you trust it - more than yourself sometimes. In a nutshell: Let the Force/chart be with you: let it guide you. Says it all really.
Comment:
set stop for longs at 8935 just in case we've topped out here - only go long again as per comment
Comment:
IF stopped out buy USD at around 0.8935 with stop below 8928- am at 10 uploads limit so hope you guys get this