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Saturday, August 22, 2009

May 18th EUR/USD trading opportunity update

The EUR/USD opened this week @ 1.3484 and went straight down to 1.3423;
after that it made a correction to 1.3473: around 23% of the last bearish movement;
I do not see a clear opportunity; it may move down to 1.3420 again and try to break it or it my go up for a correction @ 1.3559;
my trading plan is clearly changed:
I didn't open any new position so far;
I have close 3x of the 6x units I have opened last friday;
I am going to take profit every 50 pips for each unit; 1.3450(right now); 1.34 and 1.3350.
If there will an up movement before I close all my position I my consider to short a couple of unit @ 1.3550-1.3560 with a really tight stop loss, probably @ 1.3610, with a target @ 1.3430 in that case.

have a goodtrading

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