I am new to trading and woud love if we could share our thoughts on the movement of various pairs. For instance, regarding this particular trade, why do you think the pair is going to go up and is there any thought process for placing the SL and TP levels?
BTW I just opened a long position, because a pin bar formed earlier today near the weekly support of 226.50 and the price has bounced off those levels. For me the SL is at 226.50 level which is the downward support level. I don't hvae a TP level at this pont.
I am new to trading and woud love if we could share our thoughts on the movement of various pairs. For instance, regarding this particular trade, why do you think the pair is going to go up and is there any thought process for placing the SL and TP levels?
BTW I just opened a long position, because a pin bar formed earlier today near the weekly support of 226.50 and the price has bounced off those levels. For me the SL is at 226.50 level which is the downward support level. I don't hvae a TP level at this pont.
UK PRESS: The outlook for the UK jobs market is the worst for a decade with unemployment and redundancies expected to rise in the wake of the international credit crisis, according to research by a leading employment organisation.
5 period EMA and 10 period EMA, widening more -- creating an obtuse bearish angle. RSI 35.54; MACD negative; Heikin Ashi is bearish without upper shadow.
Congratulations my Friend!!I am happy that the trade worked for you. My trading style is much different than yours as I cannot continuously monitor my trades like you can. So I just booked a loss. I will continue to look for some good setups on 4hr/1day charts and take a position.
Congratulations my Friend!!I am happy that the trade worked for you. My trading style is much different than yours as I cannot continuously monitor my trades like you can. So I just booked a loss. I will continue to look for some good setups on 4hr/1day charts and take a position.
