DislikedVenca,
No I wouldn't put a entry Stop Buy at 1.4650...
Our last trade was when I sent an SMS to each member at 1.00 am NY time Dec 6 and it was triggered at 6.30 am the same day. The trade recommendation was to buy at 1.4550. Almost everyone did. We were TSL'd at 1.4609 for a nice 59 pips.
I had also stated earlier in in the group"s private site on Dec 2
given the dramatic rise in the Euro in the last three months, we may see a significant pullback to 1.4500 (50% of the rise from Oct 8 to Nov 22....a nice round number ...and a 8hr trend line from Oct 8 and Oct 22).
I had also written this in the groups private site on Nov 26 (when the market was around 1.4850)
I believe that the market will retrace from these current levels, but I don’t know how low. (1.4500 ?...big round number and 50% retrace from 1.4014 to 1.4966 ?) Note: A 500 pip retracement is easily possible.
Our little group has had some nice wins and we are slowly but surely improving our financial positions.
.Ignored
At 3.05am NY time, the group was notified that I had bought at 1.4650 and that it was a good "buy" postion.
I am pleased that most of our group bought in and we are now just letting the trade play out.
At this stage the high is 1.4735 (minus trailing stop loss of 50pips), so we have a guaranteed 35 pips profit.....plus we are still in the game...plus we are in the direction of the major trend.
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