At the start of London session today, i notice some weakness in both EUR and JPY . Hence, i sell it against USD which has been strengthening throughout the whole Asian session.
I am LONG@117.6 with a TARGET set to 118.6 - STOP@breakeven(117.6)
Good Analysis
My real name is Terrance by the way ;)
Terence_FX
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@TradZ, Hey Terrance, that's awesome. Your entry is much better than mine. I am only aiming for 70-80 pips with this trade. May the odds be in our favor.
TradZ
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@Terence_FX, Yes indeed! But if I happen to get stopped out before my TARGET is reached, I will look to retry as I know where price is heading and that is up! I placed an LONG order earlier@117.4 but the markets were not looking right and so got out with a small lost@breakeven(volatile).
Surprisingly, I was up on my lap with my charts opened in a different tab(window) when I seen price action taking off to the upside so, got right in after observing multiple time frames ;)
TradZ
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@TradZ, Turns out that the odds were in my 0r our favor! I just messed up a wonderful target is all. My first target was set to hit 118.6 which it did but I raised it to a higher target of 119.6 and moved my STOp up further to 118(even), thinking that It was set to rocket off yet again. So I was stopped out in profit and am looking for another LONG entry once it looks fit ;)
Terence_FX
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@TradZ, Good thing it hit your first TP. It must be a very close one since the price hit 118.6 and came all the way down. The final push in price was due to better than expected data for ISM Manufacturing but it was shortlived.
TradZ
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@Terence_FX, 118.611 to be exact ;)
Can't believe I went for a higher Target:(
But@Least I got out with decent profit
Terence_FX
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@TradZ, Definitely agree with you on that, a win is a win. Market market has been ranging today except CAD. I think most traders are staying on sidelines going into FOMC