I am adding to my short position, atleast until 1.139x. From there on, i waill wait to see how the price will react! Good luck to everyone and a productive week!
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Trading EURUSD only 43,756 replies
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Disliked{quote} I'm guessing you went long, picking a bottom. That's a great idea in the current price action. Small stop loss, big potential upside. Only your take profit should take into account that possibly price action just began a consolidation not a big move up in which case you either need to take profit before it makes a range top or wait out the consolidation.Ignored
DislikedSince the fall began late January, the largest bounce on EU is 160+ pips. Same 160+ pips bounce last week Monday/Tuesday. We currently have 90 pips bounce off low, this may imply that possible highest price may bounce to 1.1573 before further fall. My plan is to buy dips from 1.1460 - 1.1470 area and target 1.1533 which is 120 pips off the low and start building short positions from 1.1533 to 1.1573 area for.a target of 1.1390... only a daily close above 1.1595 will invalidate my bearish bias at 1.1573 area.Ignored