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where are we going now |
My signals and logic says that the current downside is getting a little exhausted. My preference would be to wait for long entry, alternatively to look for shorts at the resistance around 0.7350. It is very important to enter at the correct level to obtain a good risk:reward ratio with a sensible stop loss. |
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I would say a sensible SL is where you don`t risk no more than around 1 percent of your account. Also it is set at a price level/point where the direction of the market shows that you were wrong. Here it is okay to be stopped out. Still, don`t go too tight with your SL. Give the price room/space to move around. For my trading it is important to be relaxed. If I go too tight I will be more stressed about it. The fear of being right of the direction of the market and my SL beeing hit before price goes in that direction. That is why I set relatively wide SL (100 pips). The position size should be scaled after the size of our SL. I attached a picture as an example: http://i.imgur.com/dqJ1El7.jpg |
1 Attachment(s) This is my view on this pair. Happy Pipping! |
1 Attachment(s) H8 |
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Friends, please tell your comments about this currency And the news Tonight Australia |
i am taking a risk to short this pair!  |
1 Attachment(s) Bearish with a target .7090 |
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1 Attachment(s) top should be in place OBV calls for correction towards high |
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1 Attachment(s) Helps if I post it on the right page. |
1 Attachment(s) This has been a great range bound pair to trade over recent times, approaching the top of the range at the moment, will be looking to initiate short positions if a reversal bar presents itself. Will post the trade up in real time in my blog if it does reverse: http://shaunsfxtrading.blogspot.com.au/ |
Bearish on the pair. |
I have this pair in mind also. Its reached a major res point, one that it hasn't crossed in well over a year, plus there's a double top on the daily. There's also a double bottom so it might breakout instead so careful. The 4hr is showing signs of a reversal though so it's looking bearish at the moment. Im thinking sl:35 & tp:70 if I jump in & maybe lock in profits with a trailing stop if it goes well. |
1 Attachment(s) If Chikou Span cross Tenkan Sen and will go in "open space" and at the same time price go under the Kumo i aspect the price fall to 0,7330/0,7300 |
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